ALC While Kat Quirke has shown blatant disregard for transparency and incompetent manager meant alonside her CFO asleep at the wheel some 18 months prior advising the market no cap raises were needed and a month later calling an urgent cap raise at a 30% discount for poor financial management of their cash flows, resulting in a catastrophic decline in shareprice from 15 to 4 cents, a near 80% decline- it seems Kate Quirke has removed the chip off her shoulder and the ego of a thousand red rose awards for best women in business to realise all was not so rosy at Alcidion. They axed the UK Sales Rep who exaggerated on sales pipeline so that investors got a cloudy view of the UK market- those opportunities were not real- a classic salesperson tactic under pressure to inflate their contributions- Kate showed she was a very green manager to fall for such sales forecasting.
Eventually this uk person got the chop and now the ship is back on track.
Reporting a 107% year on year growth in sales. Now this is great! But it’s also not as crash hot as it sounds- Salesforce and many other SaaS companies were growing their sales in the 500-1000% range years in a row as they rapidly expanded. Alcidion a revenue is growing a measley 20 %
The standard for SaaS is the rule of 40- that EBItDA% of revenue and % yoy growth equal 40.
With an expected 5 million ebitda on 50 million revenue (10%) and reveneue growth of 15-20% yoy we are in the 25-35 range, not 40- so they are not quite there.
As a shareholder I have held a long time as the product is great. I just wish they had a competent leader that can grow to a global business. Kate Quirke is not a person to be trusted or to lead the way from this point. Imho. You can see with the good results called the shareprice remains at 12 cents. The market has still no faith in her.