Research on Beeks Financial Cloud Group (BKS) from Progressive Equity Research
Beeks has delivered a strong FY26, in line with the mid-July trading update, our expectations and consensus. H2 26 was a record period - recurring revenue is growing at around 15% per annum, gross profit rebounded to 40% for the full year, and the investment made in capacity is considerable. The group has also announced $4m of Exchange Cloud extensions in this morning's trading update. The stock trades at an EV/EBITDA of around 7x, suggesting significant upside potential as the business delivers on its promise.
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