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The Sydney-based Skyfii Limited (ASX:SKF) is a one of the leading omnidata intelligence companies that helps physical venues worldwide to measure, predict, and influence customer behaviour through data analytics, and consulting services.
On March 19th, 2019, the company released its TechKnow Conference presentation highlighting numerous significant points like the business overview, growth strategy, market opportunity, and financial results.
As per the business overview, the companyâs current market cap stands at AUD 56.19 million. Also, the SKF stock price last closed at AUD 0.185, up 2.78% at the end of the trading session on March 19th, 2019. Of the total composition of the shareholders, Socialbon Inc, Bruce Gordon, Shaun Bonétt, Jon Adgemis, and Jan Cameron hold the maximum interest in the company. The cash balance as of December 31st, 2018 stands at AUD 1.44 million and this is in view of the group's strategy to predominantly deploy excess cash into its operations. Particularly, the group seems to be operating well with the aforementioned cash balance levels, without the need of raising additional funds, as also depicted through the scenario over the past couple of quarters. The primary business product is the IO platform that comprises IO connect; IO insight and IO engage.
Skyfiiâs growth strategy is centred around organic growth initiatives, which includes a direct sales team and channelling partnerships with companies like Deloitte, Aruba Networks, Cisco, etc. Secondly, the company also targets growth through strategic acquisitions in a widely fragmented industry.
The company has exposure to a broad market opportunity since it has a diversified product and service offering with the global application including shopping centres, retail outlets, universities, casinos, airports, gyms, hospitals, and restaurants. As compared to its competitors, Skyfii provides the most holistic set of services.
Over the years, the company has achieved international expansion, widened sales and marketing capabilities and accelerated revenue growth through a strong market position. Going forward, it aims to enhance shareholder return by FY2020 further and become the largest provider in its domain by revenue and market cap, by FY2021.
As per the financial snapshot for FY2018, the company recorded the total operating revenues of $ 6.2 million, reflecting an improvement of 92% year-on-year. There was a steady growth in recurring revenues which rose by 68%. Besides, the increase in revenues generated by international operations was 38.7% (Australia â 61.3%) on account of the successful deployment of resources in foreign operations that delivered growth. Due to the diversified services offering, the total revenue increased at a CAGR of 84.7% from 2H FY2015 to 1H FY2019. The recurring revenues also grew at a CAGR of 78.1% over 2H FY2015 to 1H FY2019.
The business also delivered a strong EBITDA performance targeting continued top-line revenue growth. The EBITDA rose from a negative $ 0.9 million in 1H FY2016 to $ 0.3 million recorded in 1H FY2019, exhibiting a sustained upward trend and effectiveness of the investments into the operating model.
Skyfii also secured a three-year contract with the National Library of Australia (NLA) in Canberra. The deal entails the deployment of Skyfiiâs IO Platform services, including IO Connect (data collection) and IO Insight (data analytics) under its SaaS recurring revenue platform across the public facility. This will provide critical venue management insights including dwell times and visitation patterns, enabling the library to utilize these insights to optimize the visitor experience.
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