SLI Systems (SLI)

Business description

SLI Systems' core products are e-commerce site search and navigation tools that learn from customer behaviours to improve the relevance of search results and therefore increase sales conversion.

Share price chart

Share chart

Stock data

Market cap.NZ$68.3m
Last closeNZ$1.12
High / Low (52 weeks)NZ$1.9 / NZ$1.0
Stock market listingNZ
Forecast net cash (NZ$m)5.4
Forecast gearing ratio (%)N/A
TeamTechnology
SectorTechnology

Price performance

%1m3m12m
Actual(3.5)2.8(41.1)
Relative *(1.5)1.6(45.7)

* % Relative to local index

Other companies in sector Show

Acal accesso Technology Group
ADVA Optical Networking Advanced Computer Software Group
Advanced Micro Devices AIXTRON
All for One Steeb Allocate Software
Allot Communications Alpha and Omega Semiconductor
Amazon Amino Technologies
ANADIGICS Arria NLG
AT&S Austria Technologie & Systemtechnik blinkx
blur Group Brady
Carclo Catapult Group International
CENIT CML Microsystems
Comptel Craneware
Cypress Semiconductor DATAGROUP
DDD Group Dillistone Group
dotDigital DSP Group
e2v technologies Eckoh
Elmos Semiconductor EMIS
Emulex Endace
EnWave Corporation Esker
Evolving Systems Expert System
Facebook FFastFill
First Derivatives First Sensor
Focus Solutions Group Freelancer
Fusionex International GB Group
GBST Holdings GeoOp
GFT Group Globo
GO internet S.p.a. Himax Technologies
ifa systems ikeGPS Group
Infinera Inmarsat
Innovation Group InVision
IS Solutions IXYS
Jenoptik K3 Business Technology Group
Keywords Studios LRAD Corporation
Magix Manpower Software
Manz Maxima Holdings
Medicsight Mensch & Maschine Software
Micro Focus International Micron Technology
Migme Monitise
Montage Technology Morse
My Net Fone nearmap
Netcall NetDimensions
Netflix Nexus Management
O2Micro International OMG
OmniVision Technologies Optimal Payments
Outsourcery Patsystems
Pericom Semiconductor Phitek
PLX Technology Prodware
PSI Pure Wafer
QSC REALTECH
Redflex Holdings Redstone
Reed Elsevier Regenersis
Reply SpA Results.com
Rex Bionics Rheinmetall
RM SCISYS
Secunet Seeing Machines
Sepura Serko
Seven Principles Siemens
Sigma Designs Silicom
Silicon Image SimiGon
SinnerSchrader SITO Mobile
Smartpay Holdings SNP Schneider-Neureither & Partner
Software AG Solera
Spansion Spirent Communications
SQS Software Quality Systems AG StatPro Group
Store Electronic Systems SuperCom
Synchronica Technology sector
Texas Instruments Thin Film Electronics
Tikit Group Toumaz
TXT e-solutions TZ Limited
Ubisense Group United Power Technology
VASCO Data Security Virtual Piggy
Vislink Vista Group International
Vizrt VMob Group
WANdisco Wincor Nixdorf
WorkPlace Systems International Xploite
Xplore Technologies Corp
Y/E Jun Revenue (NZ$m) EBITDA (NZ$m) PBT (NZ$m) EPS (fd) (c) P/E (x) P/CF (x)
2013A 19.0 (1.4) (1.6) (2.9) N/A N/A
2014A 22.4 (5.4) (5.4) (8.6) N/A N/A
2015E 29.2 (5.3) (5.7) (9.3) N/A N/A
2016E 37.8 (3.8) (4.2) (6.9) N/A N/A

Last updated on 24/03/2015

Investment summary

SLI reported strong H1 results in late February, with annualised recurring revenue (ARR) growing by 34% y-o-y (28% constant currency) to NZ$28.9m and operating revenue growing by 26%. Importantly, retention rate and gross margin have also remained stable at 90% and 75% respectively. Growth was broadly spread across geographies, although the US remains the most important market, accounting for 59% of revenue and growing ARR by 27% over the period. The focus remains on growing in the core markets and it is encouraging to see ARR growth in North America in particular accelerating from 19% y-o-y in H114 to 27% in H115.

Last updated on 31/03/2015

Industry outlook

E-commerce site search is a growth market, thanks to the overall growth in e-commerce and the importance of effective search in converting website visits to sales. SLI Systems' cloud-based product minimises the initial set-up costs for its customers, resulting in a high ROI in a short time frame. Global e-commerce sales are expected to grow by 20.2% in FY14.

Last updated on 31/03/2015

Key management

Greg Cross, Chairman
Rod Garrett, CFO
Dr Shaun Ryan , CEO and Founder

Company address

78-106 Manchester Street
Christchurch 8011
New Zealand
View website