Today we are publishing on a small UK software company that may be approaching an important inflection point.
In results released last week, organic ARR growth accelerated to approximately 23%, and recurring revenue climbed to 81% of total sales.
The company also secured a strategically important US order from a leading medical-device manufacturer, with scope to expand into additional sites.
With a debt-free balance sheet, embedded products and significant scope for margin expansion, we think this business can evolve into a more durable compounder.
Yet shares still trade at a meaningful discount to peers.
Let’s dig in…
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