Discover more from Mopoke Cloud Newsletter
Mopoke Cloud Index - End of Year Round Up
In 2022, we’re excited to continue bringing a new style of coverage to the under-followed technology space on the ASX.
As we get into 2022, we’re updating the Mopoke Cloud Index with some new companies and sharing an update on the company’s we’ve written about. Let's do it.
Introducing the Mopoke Cloud Index for 2022
We published the Mopoke Cloud Index in July 2021 as a prioritization framework for emerging technology leaders on the ASX, and provided monthly wraps of the movers and shakers each month.
Hundreds of people have reached since then and we’ve also learnt more about each company in the index.
For 2022, we’re adding a number of new companies to the index including Audinate, SiteMinder, MNF Group and MSL Solutions - taking the Mopoke Cloud Index to 95 emerging technology leaders on the ASX.
Updates on Camplify, PayGroup & Dropsuite
We published three deep dives in 2021. Here is where they are at:
Camplify - Why the AirBnb for Caravans has a long way to run 🚐
We wrote our first deep dive in August and the share price is up +144%. Since our report Camplify has:
Consolidated the NZ market with acquisition of two smaller operators for $7m in stock
Increased scale and invested heavily in marketing to build the global brand, investing the same amount in Q1 FY22 as they did in the whole of FY21
A prediction for 2022? Camplify makes their first European acquisition and continues their march to becoming a global outdoor recreation brand.
Read the full deep dive on Camplify here
PayGroup - sticky payroll provides air-cover to expand margins
We wrote this in October and the share price is down (8%). Since our report PayGroup released 1H FY22 results.
Gross margins continue to improve (56%), organic growth is strong (+36%) and new products are performing well
Cash investment in the business is higher than we wanted however is part of the story as the business increases automation and back office efficiencies
A prediction for 2022? Gross margins continue to improve, PayGroup becomes cash flow positive and is re-rated by the market from a services business to a software business.
Read the full deep dive on PayGroup here
Dropsuite: secret sauce to low-cost, global distribution 🌏
Our most recent deep-dive was released in early December and the share price is up +4%. Q4 results were released in January that covered:
ARR crossed $15m of ARR (+70% year-on-year), end users at 650k, ARPUs continuing to grow and cash of $22m is expanding as the business crosses its cash flow inflection point
The company’s main marketing channel (Tradeshows) are restarting and Dropsuite was recently a key sponsor in the world’s largest MSP tradeshow in Florida, USA after a hiatus due to the pandemic
A prediction for 2022? Dropsuite acquires an adjacent product and sees success plugging it into their MSP distribution network.
Read the full deep dive on Dropsuite here.
How have they performed since October?
Technology stocks have been hit hard recently as interest rate hikes, less liquidity in markets, and higher bond yields have all come into focus.
With 62% of the companies in the Mopoke Cloud Index down since the start of October, these three businesses have fared comparatively well.
What's next for andycrebar.com?
We love seeing new technologies disrupt existing markets and believe ASX tech is under-followed and under-loved compared to its potential.
While the back-end of 2021 saw sentiment and multiples come under pressure - we’re confident this will recover and as these businesses continue to grow. In 2022, expect more ASX insight pieces, deep-dives and monthly updates.
Thanks for following along 👍