Megabuyte - Technology sector intelligence

Mobile money provider Monitise’s full year results, which were well flagged at the recent fund raising, show strong transaction-led growth in revenues to £6m for the full year (£4.3m in the second half) and adjusted operating losses at £14.3m. The release provides more information on the progress of live US and UK operations towards break even. The company is now executing on the mobile money vision, whilst the £42m net cash on the balance sheet should help it maintain its early mover advantage as it invests in new ventures and in product R&D. Premium subscribers can read our full review of the results in Newswire Plus and all readers can see our equity research notes on Monitise here.  

Interxion posts strong Q2; IPO plans on track

Results from Amsterdam based data centre operator Interxion released this morning show continued strong top line growth, increased margins and ongoing heavy investment in new capacity. Interxion announced in May that it had filed for IPO and, as far as we know, the company’s plans to list remain on track. Revenues for the second quarter ended June increased 19% to €50.4m whilst adjusted EBITDA was ahead 25% to €19.6m; a margin of 38.8%. Revenues for the first six months increased 17% to €98.2m which compared to 15% underlying growth recently announced by Telecity for the same period. 

Premium subscribers can read our full review of the results in Newswire Plus. For further reading, Premium Plus subscribers can click here for our recent coverage of Telecity’s interims, and here for our write-up of Interxion’s 2009 figures.

Mimecast continues to surge ahead 

E-mail archiving and security company Mimecast reported yet another successful year with strong revenue growth and successful fund raising. FY 2010 revenue jumped 95.4% to £13.3m with significant growth coming from newly entered US and South African markets. The customer increased by 68% to 2,693. However, the company continued to incur losses based on higher operating expenses to support its geographic expansion. The company reported an operating loss of £7.7m compared to a loss of £6m in FY 2009.

Premium subscribers can read the full review in Newswire Plus and Premium Plus subscribers can see full company profile on Mimecast including a financial analysis going back four years on the company profile on the Megabuyte database here.

Vislink looks forward after a disappointing first half

As well flagged in the recent update (Premium Plus readers see here), wireless specialist Vislink has reported on a tough first half. Underlying revenues declined 13% to £34.2m and estimated EBITDA margins fell from 11% to 1%, with a net cash outflow of £3.56m. All the signs suggest that this represents the full effect of the slowdown, with order intake picking up strongly heading into the second half and manufacturing cost reductions likely to improve margins in the second half. Premium subscribers can read the full write-up in Newswire Plus.

SpiriTel punches above its weight

Business telco SpiriTel has announced a major 3 year deal worth over £5m with Punch Taverns, which represents its largest contract to date, and which demonstrates the scope for upselling that is a key element of the company’s acquisition-led strategy. SpiriTel will provide a wide area data network and a hosted voice solution to 800 sites, covering 5,000 connections, having maintained Punch’s legacy systems since 2008. We understand that the company won the contract against a significantly larger UK telco.