Expert System (EXSY)

Business description

Expert System combines the best artificial intelligence algorithms for simulating the human ability to read and understand language and deep learning techniques to help companies integrate, discover and leverage their data and unstructured information.

Stock data

Market cap.€44.2m
Last close€1.39
High / Low (52 weeks)€2.0 / €1.3
Stock market listingMI
Forecast net debt (€m)14
Forecast gearing ratio (%)117
TeamTechnology
SectorTechnology

Price performance

%1m3m12m
Actual(2.5)(9.4)(26.8)
Relative *(2.6)(10.2)(39.5)

* % Relative to local index

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Company news

Investment summary

Expert saw a slower than expected trading environment in H117 combined with a shift in the mix of revenues towards subscription licensing. Post period end, it signed a deal with Lloyd’s of London, reinforcing its position in the insurance vertical. Management now expects flat revenues in FY17, effectively pushing out its three-year industrial plan by a year. We have revised down our revenue and EBITDA forecasts for FY17 and FY18, shifting EBITDA profitability into FY18. The company has announced a rights issue to raise up to €4.8m.

Last updated on 13/12/2017

Y/E Dec Revenue (€m) EBITDA (€m) PBT (€m) EPS (c) P/E (x) P/CF (x)
2015A 19.4 1.5 (1.0) (4.1) N/A 11.6
2016A 25.1 (2.2) (6.1) (22.0) N/A 17.2
2017E 25.1 (1.5) (6.1) (14.2) N/A 11.7
2018E 28.6 3.0 (1.9) (4.4) N/A 12.3

Last updated on 12/12/2017

Latest video

Executive Interview - Expert System

Industry outlook

Ever-increasing amounts of data are being produced, 80% of which are estimated to be unstructured. The need to derive useful insights from this growing body of data is driving the demand for cognitive computing and smarter artificial intelligence solutions, such as those offered by Expert System. Allied Market Research estimates that the global text analytics market could be worth as much as $6.5bn by 2020, growing at a CAGR of 25.2% from 2014, with North America expected to be the largest regional market.

Last updated on 13/12/2017

Key management

Stefano Spaggiari, CEO
Maria Guidotti Mistrali, CFO
Marco Varone, CTO
Daniel Mayer, Expert System Enterprise
Claudio Palmolungo, Executive VP Europe

Company address

Via Virgilio 56 Q
Modena
MO
41123
Italy
0039 059 894011
View website