Make money doing the work you believe in
The market is valuing this business like the operating company barely matters.
£31M market cap.
£13M net cash.
£4M owner-FCF.
No meaningful debt.
Mission-critical software with 95%+ retention economics.
So you’re effectively paying £19M for a specialised surveillance and security platform generating £4M per year in cash earnings.
Feels mispriced.
May 19
at
8:00 AM