I have been on a business trip to WA this week and visited Fortesque Metal Group (FMG) head office in Perth and noticed that they are using the TIKS system (aquired by Damstra) for their vistor and contractor sign in system.

I only noticed because there was a power outage just as we arrived and the sign in system had to reboot and it showed as TIKS, before moving to the visitor and contractor sign in screen.

The related business, Fortesque Future Industries (FFI) also used the same system.

FMG and FFI are "blue chip" customers and now that I know what the system looks like I'll be keeping an eye out for it at other companies.

Thought I might as well turn my forum post into a proper straw on the 4C.

@PinchOfSalt I agree that the latest 4C is uninspiring. QoQ ARR and revenue are down and churn is up. ARR is also down YoY.

They don't give exact number of clients in this 4C for some reason, even though it's a metric they have reported in every prior 4C. It's never good to see management changing their own reporting metrics and it implies they're trying to hide a bad result.

Similarly ARR wasn't reported in the last 4C and, while in this 4C ARR is mentioned again, they stil don't give the Q4FY22 ARR number. It seems a strange omission and, like with client numbers, not good to see inconsistent reporting.

On the posiive side, cash receipts were the highest they've been in the last 5 quarters and, while payments were also up QoQ, still resulted in a positive operating cashflow quarter.

Only reason I can see for such a positive market reaction is that expectations were a lot lower.

There is definitely a business here and, with the cost saving program, hopefully the beginnings of profitability and operating leverage. However the worry is that growth has stalled. Is it due to the pursuit of profitability? Can they achieve profitable growth?

Disc: Held in RL and SM

Damstra announces the appointment of Paul Burrows as Chief Financial Officer

Damstra has appointed a new CFO after current CFO, Andrew Ford, resigned and is leaving the company in November to pursue "financial advisory and related opportunities".

Although it's never good to see senior management depart, there doesn't seem anything to worry about here, particularly given the reasonable notice period.

Link to announcement

Seems that Damnstra was the subject of an unsolicited takeover offer from Accel-KKR. There had been rumours but they have now confirmed it in an announcement, while also confirming that talks have ceased without a deal.

That explains the jump in share price recently but I'm surprised that it didn't fall back again with the confirming of talks ceasing. The market must think that Accel-KKR will come back or some other suitor will emerge.

Although it could also be bargin hunting. Damstra has been heavily sold off and yet it does seem to be a viable business with a value proposition that is attractive, shown by it's previous success and recently announced deals.