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SaaS Company GeoOp to move from NZAX to ASX

SaaS Company GeoOp to move from NZAX to ASX
The global SaaS industry has an estimated market size of close to US$250 billion and a small New Zealand based company is seeking to list on the ASX to take advantage of favourable industry trends.
Sep 11, 2017 By Simon Herrmann Tags: IPO, GEO

Technology has significantly influenced workforce management over the years but the industry remains highly fragmented. While many companies build in-house solutions, a number of so called Software-as-a-Service or SaaS companies have emerged, trying to service the growing demand for cost-effective workforce software.

Workforce management includes labour scheduling, time and work data collection, billing or task management. Usually the larger the company is, the more complex and expensive it is to manage business workflows within the organisation. Long gone are days of physical forms, clipboards or any other form of manual data input and a company’s ability to optimally plan and dispatch workers to geographic locations in a timely manner can be the distinctive factor in a competitive environment.

The global SaaS industry has an estimated market size of close to US$250 billion and a small New Zealand based company is seeking to list on the ASX to take advantage of favourable industry trends.

Founded in Auckland, New Zealand in 2009, GeoOp Limited has transformed from a local start-up into an international organisation servicing over 27,000 licensed users in 26 countries. Geo’s two main software applications – GeoService and GeoSales - enable companies of all sizes to better manage complex business workflows and are designed to create operational efficiencies and ultimately save costs.

Whilst still a loss-making business, total revenues have increased over the past three financial years and user numbers on the platforms have grown steadily since inception. The company claims to have a churn rate of less than 2% and net cash flow is slowly moving towards the breakeven point.

Given the stage of the business, IPO investors are required to have a long-term speculative appetite. Management believes there is significant headroom to build market share and as the company has a track record of growth, we believe this IPO deserves attention.

GeoOp Limited
ASX Code: GEO
Shares on Offer: 16.6m
Listing Price: A$0.36 / NZ$0.38
Market Capitalisation: A$21.2m
Listing Date: September 29

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Simon Herrmann Author: Simon Herrmann Sep 11, 2017

Simon is a financial analyst at independent research firm Wise-owl specialised in small-mid cap growth opportunities and ethical investment opportunities. Simon's aim is to disrupt the cliché approach to investment decision making as he believes that socially and environmentally responsible behaviour is a necessity to long-term wealth creation. Simon has a deep fundamental understanding of the global financial landscape and has compiled 300+ research reports, valuations and corporate appraisals. Simon is commonly featured in major media outlets and his research is published weekly in The Australian.


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