Absolute Software Corp T.ABST

Trevor Rose's Insights - Don't BUY

[Possibleidiot01]

DON'T BUY

Absolute Software Corp.(ABST-T)

28/04/2023

 

 

Trevor Rose’s Insights - Trevor’s most-liked answers from 5i Research. The stock drifted along under $12 through 2022 to August when it moved up to about $16 which held to the start of November when it fell to its month-end close of $13.24. ABST is a leading provider of self-healing endpoint and secure access solutions. This involves the only undeletable defense platform embedded in more than 600,000 devices, which helps some 18,000 customers protect against the escalating threat of ransomware and malicious attacks. It enjoys a relationship with over 1,100 partners, including several global carriers and unique integrations with 28 leading PC OEMs (including Dell and HP). For the first fiscal quarter ended September 30, 2022 revenue was $53.6 million, up 23% over the comparable prior year period, (adjusted revenue at $54.2 million grew a like percent) but the net loss was $9.5 million, 25% worse than the prior period. This was attributed to an increase in salaries related to employee headcount in support of projected growth. Management confirmed the fiscal year (ending June 30, 2023) outlook for adjusted revenue to grow 14.8% minimum and adjusted EBITDA 21%.