Skyfii’s shares surged up by 2.9% on ASX- A Quick Look

Skyfii Ltd (ASX: SKF) is an Australian software technology company which help businesses, and organizations to perform better. It also drives transformation through its analytics and data-driven marketing products. The company offers a (software-as-a-service) SaaS cloud-based solution in a subscription model consisting of three core ‘IO’ services- IO Connect, IO Insight and IO Engage.

Recently, the company extended its partnership with Nando’s Quick Service Restaurants (QSR) globally, after signing of a two-year contract with Nando’s South Africa to deploy Skyfii’s SaaS recurring revenue ‘IO Platform’ services across 260 Nando’s stores in South Africa.

Skyfii Ltd has a reputation of being a leading provider of data analytics, and marketing services to the New Zealand and Australian retail property sector. Recently, the company made its first entry in the North American shopping mall vertical, by signing a three-year Master Services Agreement (MSA) with North American retail property group, Cafaro Company (Cafaro).

On 5 March 2019, the company announced that it had signed a three-year MSA with Cafaro, initially deploying services into the Eastwood Mall in Ohio. The agreement will allow Skyfii to quickly implement its solution across further mall properties within the Cafaro portfolio. Both the parties are already in discussion to implement the solution into additional retail malls.

Recently in February 2019, the company had signed a three-year contract with a leading large format retail landlord, Home Co. Under the agreement, Home Co will use Skyfii’s ‘IO Connect’ (data collection) and ‘IO Insight’ (data analytics) products as a business-critical reporting tool, to assess asset and tenancy performance. This contract follows various other successful agreements by Skyfii within the Australian retail property sector, including ISPT, the GPT Group, Scentre Group, Mirvac, Aventus, Lewis Land Group and others.

For the half-year ended 31 December 2018 (1H FY19), the company generated revenues of around $4.685 million, which was 67% higher than the previous corresponding previous period (pcp). The company’s half-year results were driven by the successful deployment of major data analytics, and infrastructure set up contracts within Australia. Besides Australia, the company also performed well in Brazil with significant growth in customer contract conversion, which will contribute to future operating revenues in the second half of FY19. As on 31 December 2018, the company had a cash balance of $1.415 million.

Now, let’s have a glance at the company’s stock performance, and the return it has posted over the past few months. The stock last traded at a price of A$0.180, up by 2.857% from its previous close, with a market capitalization of ~$54.63 Million as on 11 March 2019. The counter opened the day at A$0.185 touched a day’s low of A$0.180 with a daily volume of ~85,559. The stock has provided a year till date return of 9.38% & also posted returns of -10.26%, 16.67% & 12.90% over the past six months, three & one-month period respectively. It had a 52-week high price of A$0.230 and touched 52-week low of A$0.125, with an average volume of ~95,160.


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