Published on: March 13, 2013

Vive La Revolution

StatPro has announced a strong set of FY12 results, some 6.3% ahead of our estimates at the adjusted EPS level. The numbers reflect the strategic direction of the group and confirm that the focus on its SaaS product Revolution is bearing fruit, with an increase in recurring revenue from the cloud-based service.

The outlook statement notes that the transformation to the new technology platform is ‘largely done from a product and organisational perspective’. The key to future success is therefore continued growth in StatPro Revolution sales; our forecasts for 2013 assume significant investment to build both direct and indirect sales channels. Given the strength of the product suite, the robustness of the platform and the scale of the market opportunity, we believe Revolution has every chance of becoming a major global success.