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appScatter (APPS)

Business description

appScatter is a B2B mobile app distribution, management and intelligence company; its cloud-based platform helps customers distribute to and monitor over 50 app stores globally. It is building one of the largest repositories of app store data and aims to launch a marketplace to support third-party app integrations in 2018.

Stock data

Market cap.£38.2m
Last close60.50p
High / Low (52 weeks)93.0p / 44.0p
Stock market listingLN
Forecast net cash (£m)1.7
Forecast gearing ratio (%)N/A
TeamTechnology
SectorTechnology

Price performance

%1m3m12m
Actual(14.8)(33.2)N/A
Relative *(13.1)(37.8)N/A

* % Relative to local index

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Investment summary

In its March update, appScatter announced FY17 results will be in line with consensus and, more importantly following the recent commercial launch of its app-distribution platform, good early momentum in Q118. It also announced its first strategic partnership with Airpush, a leading mobile advertising network which promotes over 250k apps. Were Airpush to convert a small percentage of the developers, this could have a material impact on forecasts. Management expects Airpush to promote the appScatter platform with a significant marketing campaign in return for a 10% revenue share and a 20% price discount for customers acquired via Airpush.

Last updated on 27/04/2018

Y/E Dec Revenue (£m) EBITDA (£m) PBT (£m) EPS (p) P/E (x) P/CF (x)
2015A 0.0 (2.1) (2.1) N/A N/A N/A
2016A 0.0 (3.5) (3.6) N/A N/A N/A
2017E 2.1 (5.3) (5.6) (10.2) N/A N/A
2018E 6.8 (2.9) (3.2) (5.1) N/A N/A

Last updated on 20/04/2018

Latest video

Executive Interview - appScatter

Industry outlook

Google Play and the Apple App Store dominate the app store market in western geographies, accounting for 85% and 69% of all downloads in the US and UK. However, the scale of the remaining app store market is also vast, particularly in geographies such as China. Within this ‘other’ market, appScatter benefits from first-mover advantage, already distributing apps to, and monitoring their performance across, multiple app stores globally including the majors.

Last updated on 27/04/2018

Key management

Clive Carver, Chairman
Philip Marcella, CEO
Manish Kotecha, FD
Jason Hill, Sales Director
James Eggleston, Chief Technology Officer

Company address

Salisbury House
London Wall
London
EC2M 5PS
United Kingdom
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