Annual Report

Good little company that’s ticking boxes with very little love on here.

Highlights for me:

• Shift to profitability in FY22.
• Organic revenue growth of 34%
• Primary Markets acquisition revenue grew 260% and trading value > 500%
• AFSL subscribers up 21 % with consistent growth
• Debt free
• $5.7 mil cash in the bank
• Kicking goals
• trading at price to FY22 revenue multiple of 3.5

Full report:

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02554925-6A1105052?access_token=83ff96335c2d45a094df02a206a39ff4

Pitt Street Research analysis

Valuation $0.13 - $0.28

Minimum Holding Share Buyback

• Complii Fintech is pleased to announce that it intends to undertake a minimum holding share buyback of ordinary shares for shareholders of less than a marketable parcel of shares in the company... any shareholding valued at less than $500 based on the closing price on the ASX, which for the purpose of the buy back is $0.085 as at January 24th 2022.

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02479078-6A1073830?access_token=83ff96335c2d45a094df02a206a39ff4

Q2 FY22

• First cashflow positive quarter
• Revenue up 370% with Primary Markets acquisition contributing only from November.
• $106,000 in ARR
• Cash 4.75M up 45% prior quarter
• No debt

Strong quarter, ongoing steady increase in clients, solid balance sheet, very positive outlook.

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02474026-6A1071671?access_token=83ff96335c2d45a094df02a206a39ff4

FY21:

• Record revenue of $2.72mil (59% on pcp)
• ARR 2.15mil (73% on pcp)
• Costs down 11% excluding acquisitions
• Doubled customer base 
• $4mil cash 

Good growth and very interested in the coming quarters. 

Executive chairman Craig Mason has steadily acculumated ~2.5mil shares at the 5-6c mark (worth around half his salary) since June of this year. Managing Director Alison Sarich also a similar amount with ~7% ownership. 

Acquisition of Primary Markets:
PrimaryMarkets enables secondary trading (buying and selling) of securities in unlisted companies and funds in a secure, controlled, transparent and efficient online platform environment. As well as providing companies access to its investor network, PrimaryMarkets also assists companies with their capital raising endeavours and share registry requirements. In this regard, PrimaryMarkets has created a versatile technology enabled platform to provide liquidity.

Good summary of the state of play of Complii from the great man Chris Judd's website here for those interested: https://www.chrisjuddinvest.com/articles/complii-fintech-solutions-asx-cf1