Proactis (#PHD) – investigation shows small amount of internal & non-commercially sensitive data accessed by perpetrators

Proactis (#PHD) – recommended 75p per share offer now joint from Pollen Street Capital & DBAY

Proactis – “significant” progress?, another “strategic” contract win?

Having previously concluded sceptically on the valuation of organisational spend management software and services company Proactis (PHD) in November, I note the shares further higher today on trading update and “strategic contract win” announcements. So what’s the latest?...

Proactis – contract win “Strategic” as it sounds better than ‘not currently financially significant’?

Organisational spend management software and services company Proactis (PHD) is “pleased to announce” not just a ‘Contract Win’, but a “Strategic Contract Win”. Hmmm, ramptastic?...

Proactis (#PHD) – FY update, net bank debt £37.1m (31 July 2019: £36.5m)

Proactis – interims, “clear indicators that the board's strategy is working well”?

I noted yesterday shares in business spend management software and services company Proactis (PHD) bouncing on a “Reset of bank facilities” announcement, though concluded I considered the valuation still more than sufficient at this point and continue to avoid. Today half-year results – and the shares currently more than 6.5% lower towards 27p in response...

Proactis – revised bank facility… but how confident can it currently be of its business plan making encouraging progress?

A “Reset of bank facilities” announcement from business spend management software and services company Proactis (PHD) – and the shares currently above 25p, approaching 20% higher...

Proactis – trading update, “confidence for the continued progression of the group”?

A “COVID-19 Update & Notice of Results” announcement from Proactis (PHD) including that its business - “business spend management solution provider” - “is based primarily on a recurring revenue, long term, SaaS based contract business model which offers robustness and security in periods of short-term uncertainty and a high degree of visibility… the group has continued to trade well”. The shares have currently responded up to above 20p, but are still down from more than 50p early last month, interesting?...

Proactis – formal sale process ended due to encouraging new strategy? Or…

Previously writing on Proactis Holdings (PHD), last month with the shares at 48p I concluded that a shareholding here at this juncture still looks more like gambling than investment to me. Today “Conclusion of Formal Sales Process”…

Proactis (#PHD) – formal sale process concluded, “has not led to any firm proposals being received”

Proactis – return to annualised recurring revenues growth… Or not…

Spend management software and services company Proactis (PHD) has updated including commencing “the group's announcement on 29 April 2019 outlined a revised strategy that included improving the rates of winning new customers and the retention of existing customers. Since then, the group has restructured its operations and the board is encouraged to be able to report that the group has delivered well against this strategy during the six-month period to 31 January 2020” – and the shares have responded to 48p, 20% higher, though still well down from more than 100p even less than a year ago…

Proactis (#PHD) – warns but argues “confident that the revenue performance has now bottomed out”, formal sales process continuing

Proactis – “encouraged by the group's performance”. Hmmm – really?...

Spend management software and services company Proactis (PHD) has updated including “we are encouraged by the group's performance and especially the level of cash generation in the second half of the year… we expect this level of cash flow performance to continue as the group delivers on the benefits identified during the operational review” and that a formal sales process has seen it having “received a number of expressions of interest”. The shares are though currently slightly lower to 50p – and also comparing to more than 100p as recently as February…

Proactis (#PHD) – “encouraged” by H2 performance, reviewing “a number of expressions of interest” under Formal Sales Process

Proactis (#PHD) – preliminary approaches, formal sales process

Proactis – adjusted EBITDA down despite acquisition… & worse...

“Proactis Holdings PLC (PHD), the global spend management and B2B eCommerce solution provider, announces that the group expects to report order intake of £5.8m (2018: £5.5m) of total contract value for the 6-month period ended 31 January 2019 and revenue of approximately £27.7m (2018: £26.4m)”. The shares have responded... currently to around 60p – down more than 45%!...

Proactis (#PHD) – warns as “experienced a lower level of retention and a deterioration of the pipeline”

Proactis – deal intake & ‘pipeline of opportunity’ “strong”, so why do the shares remain depressed?

Proactis Holdings (PHD) has updated including “deal intake for the year was strong” and “the pipeline of opportunity remains strong for the longer term”, so why are the shares little above 100p compared to around 190p at the commencement of the company’s year ended 31st July 2018?...

PROACTIS (#PHD) – increased deal intake, agreement to acquire Esize Holdings BV for up to €15.2m

PROACTIS – H1 results to end Jan include “a higher loss rate” to impact H2… but in Feb was “extremely excited about the next six months and beyond”!

A half-year results announcement from organisational spend management software group PROACTIS Holdings (PHD) includes from CEO Hamp Wall; “The board has dramatically enhanced the scale and financial performance of PROACTIS as well as its medium-term growth opportunity through its successful and focussed M&A strategy… I am delighted to report on the group's substantial progress during the period under review and the significant opportunities it has for the future”. Good, good. You what?, the shares currently down more than 40%, at 110p?!?...