Have we all given up on GeoOP?
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Have we all given up on GeoOP?
What a farce,today's trading......Obviously everybody is doing other things or the share price wouldn't have taken that jump...IMHO.
https://nzx.com/companies/GEO/announcements/263877
GeoOp, the workforce management software company, today announces a new Product team.
"Our plan involves a leaner operation, focusing on product enhancements and faster release cycles for our customers. At the centre of this strategy is the new Product team led by one of the GeoOp’s founders, Brendan Cervin. This team is dedicated to making our product better, and improving customers' experience with our application.”
As part of the organisational realignment, CTO/CIO, Jamie West, and CMO, Tim McFarlane, will depart the organisation on 4th August 2015. GeoOp thanks Jamie and Tim for their significant contributions to the team.
If that is their new plan, it does make you wonder what their old plan was!
"The old team was dedicated to making no changes to our product, and making customers experience difficult"?
I think they thought they were the next Xero to early. They should have started lean, with faster reiteration. From what I can tell, thats how Vend and Timely started with Vend breaking out of that only once they got big VC money.
Yes - capital raise will be tough. They need to be showing more traction.
Revenue growth over 150% and customer growth of over 80%. Currently priced at 13x AMRR which is high but not as high as Xero. Factor in their revenue for the year and they just have 1 year left of runway at current burn rate.
Capital raising is definitely needed and I wonder if the change in year end (to 30 June) is so that they can present accounts with improved performance over the 3 months to June before the capital raising. Revenue growth looks good but costs still look out of whack.
AMRR of $1.4m so trading on a 8x multiple so looking better.
Interesting they have applied to move to the full board. I think the NZX should reject it and make them move to the NXT given their market cap is only $11m. Quarterly reporting of SaaS metrics would also help investors. If NZX wants the NXT to be successful, they cant allow companies that should be on it ditch it for the full board.
The Market maker on the NXT would also give a bit of confidence that you can get out of a position quickly too.
I've always thought they were trying to play in the big boys arena before they are ready and this is more evidence.