SA News • Fri, Mar. 21
- Globoforce Group PLC, a provider of cloud-based social recognition software solutions, plans to raise $75.0 million in its upcoming IPO.
- THNX, based in Dublin, Ireland, will offer 4.4 million shares at an expected price range of $16-$18 per share.
- We rate THNX a buy, due to increasing revenues and avoided losses.
- Offers gift cards and other options through a global e-commerce rewards network.
- One customer has accounted for over 30% of revenue for each of the past three years.
- Top line revenue compared to the year earlier period grew only 18% for 2013 and 16% for 2012.
There are no Transcripts on THNX.
Fri, Mar. 21, 9:25 AM
- Citing market conditions, cloud talent recognition software firm Globoforce (THNX) is postponing its IPO.
- In spite of the strong debuts recently seen by other enterprise cloud software names, demand for Globoforce's offering was apparently soft: The company had already downsized its offering to 3.8M shares from 4.4M, and cut its price range to $14-$15 from $16-$18.
- Previous: Globoforce's IPO filing/1H results
Nov. 11, 2013, 5:57 PM
- Globoforce, a provider of cloud-based software that helps companies monitor employee performance and recognize/reward standout employees, has filed for a $75M IPO under the symbol THNX. JPMorgan, Credit Suisse, UBS, Stifel, and Raymond James are underwriting. (S-1)
- Globoforce had revenue of $75.4M (+18% Y/Y) in 1H13, and a net loss of $3.2M. Free cash flow totaled $4.7M, and the company's deferred revenue balance (a closely-watched figure for cloud software firms) stood at $66.8M.
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Country: United States
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