Forager's Alex Shevlev covers BVS here - https://www.livewiremarkets.com/wires/the-asx-stock-whose-turnaround-story-may-have-more-to-come

FY25 upgraded guidance and intention to recommence dividend payments

Bravura Solutions Limited (ASX:BVS) (Bravura or the Company) is upgrading its FY25 guidance as follows:

• Cash EBITDA1 to a range of $33m - $36m (previously $28m to $32m)

• EBITDA1 to a range of $41m - $44m (previously $36m - $40m)

• Revenue1 to a range of $240m - $245m (previously $235m - $240m)

The upgraded FY25 guidance follows the successful transformation and execution of the business strategy over

the past 18 months.

Dividend update

As a result of the Company’s return to profitability and cash generation, Bravura intends to recommence the

declaration of dividends in February 2025 when the 1H25 results are announced, with payment in March 2025.

This is in addition to the capital return of at least $0.163 per share to be paid on 30 January 2025, reflecting the

Company’s improved financial performance and strong balance sheet.

Bravura’s Group CEO Andrew Russell said:

“We are pleased to inform shareholders that our Cash EBITDA, EBITDA and revenue performance is anticipated to

be ahead of the guidance previously provided. This is further confirmation of the execution progress of our

strategy to reset and energise the Bravura business. We have returned to profitability and have a healthy balance

sheet. As a result, we intend to recommence the payment of dividends which will be announced as part of our half

year results.”

Damien Leonard (son of Mark Leonard of Constellation Software) has bought a large dollop of shares (~ 1.75m) between $1.39 and $1.46 on-market. That is significant insider activity, especially with the shares hovering near 52w highs after a very good run already.

Pinetree Capital has spent another ~$5m acquiring shares on market, taking their stake to ~21 %.

They are a Candian value-oriented investment firm focused on enterprise technology companies.

I get the feeling they are angling for some sort of exit here (a takeover?).

New CEO Andrew Russell has stepped up to the plate and purchased $100k worth on market. Nothing earth-shattering, but continues the trend of insider buying in recent months.

Matt Quinn is at it again, with another ~$126k purchased on market.

The last time he dipped into his pockets to buy shares (see my previous straw), it worked out great with a 50%+ gain in a few months.

Director Matthew Quinn has purchased 350k shares on-market for a total consideration of ~ $157k.

Good to see, especially if it is followed up with more director purchases.

BVS has come out of the trading halt, and it is every bit the disaster that you would expect it to be.

Not sure how the management team can salvage the situation, but the miniscule glimmer of hope is they have managed to raise $43m of fresh institutional capital to attempt what looks like a difficult turnaround.

Yet another poor performer in a Trading Halt, ahead of releasing their 1H result.

I think we all know how this story is likely to end...