Home Money SMALL CAP MOVERS: IQGeo connects with international telecoms giants

SMALL CAP MOVERS: IQGeo connects with international telecoms giants

by Elijah
0 comment
IQGeo's Software-as-a-Service (SaaS) technology stack makes deploying fiber broadband networks easier, less expensive and more efficient.

A satisfactory set of preliminary results sent to a “geospatial” software vendor IQGeo Group stocks on an upward trajectory this week. In fact, they hit an all-time high of 414p.

IQGeo recorded a record order intake of £57.2m, with underlying profit more than trebling to £6.6m for the 12 months ending December 31, up from 1, £9 million the previous year.

The group highlighted a strong financial position, with positive free cash flow with £11 million on the balance sheet and an annual recurring revenue exit rate of £21.3 million, an increase of 41 per cent. hundred.

IQGeo's Software-as-a-Service (SaaS) technology stack makes deploying fiber broadband networks easier, less expensive and more efficient.

IQGeo’s Software-as-a-Service (SaaS) technology stack makes deploying fiber broadband networks easier, less expensive and more efficient.

This is all good, but what does IQGeo actually do?

At its core, IQGeo’s Software-as-a-Service (SaaS) technology stack makes deploying fiber broadband networks easier, less expensive and more efficient.

It does this through a concept at the forefront of the software industry: digital twins, a term you’ve heard Nvidia using lately.

IQGeo’s services have attracted the interest of major national and international telecommunications providers. It’s no wonder stocks are up 9 percent this week, bringing year-to-date gains to more than 30 percent.

Stocks had a strong week across the board, particularly on the blue-chip side. The FTSE 100 index jumped around 3 per cent, hitting a 12-month high on the back of a favorable macroeconomic data set.

Inflation was weaker than expected, while Friday’s retail trade figures were better than expected. Even though the Bank of England kept rates unchanged when policymakers met on Thursday, hopes for an interest rate cut are now a little higher.

The AIM All-Share Index wasn’t as optimistic, although it still managed to add half a percentage point to enter Friday at 741.

Roadside Real Estate, which owns a string of regional bars through the Barkby Pubs chain, was the biggest AIM riser of the week.

This follows the partial sale of its Cambridge Sleep Sciences subsidiary for £6m and the acquisition of a raft of new property assets through its joint venture with Meadow Partners.

XLMedia shares doubled in value after the sports and gaming-focused digital media group announced a binding agreement to sell its sports betting and gaming assets in Europe and Canada to Gambling.com for 42.5 millions of dollars.

Speaking of gaming, GfinityShares of rose 30 percent after releasing its half-year results.

Gfinity posted a profit after spending the first six months of its financial year laying the foundations for growth as a pure-play digital media network, having sold its Athlos business while divesting most of its e-commerce division. sport.

In the field of biotechnology, GENinCode jumped 35 percent after its Ovarian Cancer Risk Algorithm (ROCA) test received a recommendation from the National Institute for Health and Care Excellence (NICE) as the preferred test for ovarian cancer surveillance. ovary in people at high risk.

Zephyr Energy led the charge in the natural resources sector. Shares rose 35 percent after it told investors that drilling operations had now begun at the State 36-2R well site in Utah’s Paradox Basin.

The company said a small, low-cost drilling rig started the well, drilling a 30-inch hole to a depth of 96 feet before successfully installing 20-inch conductor casing.

“We continue to make good progress at the well site and are well prepared for the next phase of drilling which is expected to begin in mid-April,” Managing Director Colin Harrington said in a statement.

As for the fellers, Hummingbird Resources was down 43 percent after updating its Kouroussa mining operations.

Kouroussa’s main contract miner, Corica Mining Services, has temporarily suspended its mining operations following various contract disputes.

Hummingbird called this “a blatant breach of the mining contract… since the contract began, Corica has failed to meet mining contract volumes due to delays in mobilization, commissioning and overall operational performance of equipment mining”.

Small cap fleet management Trakm8 Shares fell 35 percent after the company announced that talks for “a large deal to sell optimization software” had failed.

Trakm8 warned that sales for the whole year would be worse than expected as a result.

Audio technology company Focusrite was another major drop, dropping around 20% after the release of a trading update.

Focusrite has lowered its revenue forecast for 2024, saying “challenging market conditions highlighted in the January AGM statement continued throughout February and into March”.

Some links in this article may be affiliate links. If you click on it, we may earn a small commission. This helps us fund This Is Money and keep it free. We do not write articles to promote products. We do not allow any commercial relationships to affect our editorial independence.

You may also like