Search Follow us

Kape Technologies (KAPE)

Business description

Kape Technologies specialises in consumer cybersecurity software. It markets four proprietary products: Reimage and Reimage for MAC, PC driver repair software (DriverAgent), anti-malware (Intego) and a virtual private network (CyberGhost).

Stock data

Market cap.£147.9m
Last close104.00p
High / Low (52 weeks)135.5p / 63.0p
Stock market listingLN
Forecast net cash (US$m)46.2
Forecast gearing ratio (%)N/A

Price performance

Relative *(1.6)(13.5)74.0

* % Relative to local index

Other companies in sector Show

1Spatial 7digital Group
accesso Technology Group ADVA Optical Networking
Advanced Computer Software Group Advanced Micro Devices
AIXTRON Aladdin Blockchain Technologies
Algomizer All for One Steeb AG
Allocate Software Allot Communications
Alpha and Omega Semiconductor Alphapoint Technology Inc
Amazon Amino Technologies
ANADIGICS appScatter
Arria NLG artec technologies
AsiaCell AT&S Austria Technologie & Systemtechnik
Beta Systems Bigblu Broadband
Blancco Technology Group blinkx
Blue Prism blur Group
Boku Brady
Bulletproof Group Carclo
Catapult Group International Celltick Technologies
CENIT CentralNic
Cerillion CityFibre Infrastructure Holdings
Claranova Cliq Digital
CML Microsystems CoAssets
Comptel Covata
Craneware CREALOGIX Group
Cyan Cypress Semiconductor
Dillistone Group door2door
dotDigital DSP Group
e2v technologies Eagle Eye
Eckoh Elmos Semiconductor
EMIS Group Emulex
Endace EnWave Corporation
Epipoli eServGlobal
Esker Evolving Systems
EVR Holdings PLC Expert System
Facebook Featurespace
FFastFill FinTech Group
First Derivatives First Sensor
Focus Solutions Group Foresight Autonomous Holdings
Forward Industries FreeAgent
Freelancer Fusionex International
Gamma Communications GB Group
GBST Holdings GeoOp
GetBusy GFT
Globo GO internet
Greek Organization of Football Prognostics GVC Holdings
Himax Technologies Hrvatski Telekom
ifa systems ikeGPS Group
Infinera Inmarsat
Innovation Group InVision
IQE IS Solutions
ISRA VISION IT Competence Group
IXYS Jenoptik
K3 Business Technology Kainos
Kalibrate Technologies Keywords Studios
Learning Technologies Group LRAD Corporation
Magix Manpower Software
Manx Telecom Manz
Max 21 Maxima Holdings
Medicsight Mensch & Maschine Software
Mercia Technologies Micro Focus International
Micron Technology Migme
Mobile ecosystems Mobotix
Monitise Montage Technology
Morse mVISE
My Net Fone Mynaric
Nano Dimension Nanoco Group
nearmap Nemetschek
Netcall NetCents
NetDimensions Netflix
Nexus Management NFON
O2Micro International OMG
OmniVision Technologies Orion Health Group
Osirium Technologies Outsourcery
Panorama Synergy Pantaflix
Patsystems Paysafe Group
Pebble Beach Systems Group Pericom Semiconductor
Phitek Piteco
PLX Technology Pointer Telocation
Pricer Prodware
PSI Pure Wafer
QSC Quartix Holdings
Real Estate Investar Group REALTECH
Redflex Holdings Redstone
Reed Elsevier Reply SpA Rex Bionics
Rheinmetall RM
Secunet Seeing Machines
Sepura Serko
Seven Principles Siemens
Sigma Designs Silicom
Silicon Image SimiGon
SinnerSchrader SITO Mobile
SLI Systems Smartpay Holdings
SNP Schneider-Neureither & Partner Software AG
Solera Solutions 30
Spansion Spirent Communications
SQS Software Quality Systems AG Stadium Group
Store Electronic Systems Straker Translations
SuperCom Synchronica
Taptica Technology sector
TerraNet Texas Instruments
The NAGA Group Thin Film Electronics
Thoughtonomy Tikit Group
Toumaz Track Group
TXT e-solutions TZ Limited
Ubisense Group UMT United Mobility Technology
United Power Technology VASCO Data Security
Vectron Systems Virtual Piggy
Vista Group International Vitec
Vizrt VMob Group
WANdisco Webinar
Wincor Nixdorf WorkPlace Systems International
XP Power Xploite
Xplore Technologies Corp YuuZoo

Investment summary

With Kape’s transition to a consumer cybersecurity business essentially complete, investors can focus on the trends in its core business. The interim results highlighted big improvements in both margins and visibility. A doubling of subscribers helped drive a 178% y-o-y rise in underlying EBITDA and Intego should add US$3m in subscription revenue in H2, further improving the mix and margins. Following the acquisition of ZenMate in October we raised our FY19e EBITDA forecasts by $0.5m and adjusted EPS by 4%. The company subsequently indicated integration of its acquisitions is running ahead of plan.

Last updated on 29/11/2018

Y/E Dec Revenue (US$m) EBITDA (US$m) PBT (US$m) EPS (fd) (c) P/E (x) P/CF (x)
2016A 56.5 6.4 4.8 2.90 46.3 N/A
2017A 66.4 8.3 7.5 4.85 27.7 N/A
2018E 60.0 10.2 8.7 5.23 25.7 N/A
2019E 72.2 14.2 12.3 7.30 18.4 N/A

Last updated on 29/11/2018

Latest video

Executive interview - Kape Technologies

Industry outlook

As consumers become more connected and increase their reliance on the internet in their daily lives, the stakes of breach are increasing and, as has occurred in the B2B cyber security industry, demands are likely to expand beyond basic antivirus protections. Symantec estimates the wider ‘personal digital safety’ market to be double the size of traditional products at c US$10bn. It is in this wider market that Kape is positioning itself.

Last updated on 29/11/2018

Key management

Ido Erlichman, CEO
Moran Laufer, CFO
Donald Hunter Elgie, Non Executive Chairman

Company address

Sovereign House, 14-16 Nelson Street, Douglas
Isle of Man
United Kingdom
View website