Siteminder trading update. Business continues to progress
Siteminder re-iterated guidance yesterday that it should be FCF positive by HY 24 as per previous guidance. Continues to revenue grow at 30%.
Putting this together, the pattern of buys from SDR directors and BTI directors (own approx 25%) supports the conviction in the company.
No suprises to strawpoeple, but the tech companies that have weather the past 12-18months and are at the FCF inflection point would be high percentage bets to be the first to re-rate
20% pop on yesterdays announcement, from 2.55 to 4.30 in the space of a month, although it seems to run-up above my original target, i expect a pull back over the next few weeks. Own in RL an SM.
Siteminder Half Yearly Report
Consistent growth rate and has not missed a beat since IPO and subsequent tech sell off. Long growth runway and obvious large TAM. Continue to impress and I continue to add in RL PF.
Siteminder Quarterly report - impressive revenue growth numbers continuing (fastest in 5 years)
