Got alert this morning as saw it open up a whopping $5.75 (after yesterday's closing price $3.98) cudos & well done to anyone here holding... don't particularly like big 'open gap's up' as eventually should fill/close imo I'll await any pullback to perhaps $4.50-4.70ish to consider an entry dyorWow explosive move today on guidance of fy23 and fy24 EBITDAs which substantially beats 'consensus'.
Will it sustain the obvious question - I did a primitive calc of market cap multiple to EBITDA (guidance) for fy24 and got 21X
market cap on 45% intraday rise = $920m
Mid range fy24 EBITDA guidance = $44m
M.C ÷ EBITDA = 21X
Not Held
The door may be slammed shut ...I'll await any pullback to perhaps $4.50-4.70ish to consider an entry dyor
Seems so DFThe door may be slammed shut ...
After the earlier jump 28 April , renewed buying seems to be pushing it higher.. now $6.71.
View attachment 157356
The IT sector was best on ground today (+3.76%) but Megaport ahead of the pack, up more than 5%.Amateurs open markets , professionals close them.
..... And, two goes at $10.closed on its highs. Make that 33 per cent .
looking like a shampoo advert?..... And, two goes at $10.
And two closes at highs for the day at $11.01 during this week......, two goes at $10..... made it to $9.99 on 13th, and ran to $9.98
punched higher, .... to $12.72 on initial/ early excitement; now around $12.And two closes at highs for the day at $11.01 during this week.
.....As set out in my letter, ten years ago a handful of talented and passionate people set about building a business that we believed could transform the way enterprise customers connect to the cloud. We saw there was an opportunity to build a platform that was so unique, that no one had ever considered it possible. Our vision? To do for networking what Amazon has done for compute. Totally automated, virtualised, and on-demand. From these humble beginnings in a small office in Fortitude Valley, we started executing on that vision.
Fast forward ten years and that startup is today an ASX200 company, exiting FY23 with an annual recurring revenue run rate of $178.6M, and connecting to all the major cloud providers around the world. This little Australian company pioneered Network as a Service and is today the leading independent provider of NaaS services worldwide.
The past ten years have been extraordinary, filled with so many amazing stories, supported by so many remarkable people. As they say, “It’s often more about the journey than the destination.” In our case, there was no path to follow; we were leading the way in almost every respect. So the journey has been difficult at times, but also incredibly rewarding as we delivered on our vision. It almost seems fitting and ironic that for me, our tenth year as a company has been the most challenging, yet simultaneously, possibly the most inspiring.
But above all, FY23 for Megaport has been a year of transformation. Today we find ourselves with a business that is EBITDA positive, generating cash, and with a new streamlined, focused, and invigorated Executive team. We delivered a significant upgrade in earnings outlook and trajectory, an annual $30M cash flow improvement in less than six months, and our first net cash positive quarter in history.
In March, the Company appointed a proven technology and SaaS leader, Michael Reid, as Chief Executive Officer. Since commencing his role as CEO in May, Michael has already had a significant impact on Megaport. His experience and energy are greatly welcomed by the team along with his openness and inclusive leadership style.
A big thanks to the Megaport team who worked tirelessly to implement the transformation over the past year. On behalf of the Board and shareholders, thank you. I’d also like to thank you, our shareholders, for your ongoing support and belief in our business as we continue to revolutionise the way the world connects to and through the cloud.
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