FreeAgent Holdings plc is a provider of cloud-based Software-as-a-Service (SaaS) accounting software solutions and mobile applications designed specifically for UK micro-businesses (sole traders and companies with fewer than 10 employees) and their accountants. Since the business was established in 2007, the focus has been on building its UK subscriber base in parallel with developing new features for its business and accounting software solutions. Headquartered and operating from Edinburgh, Scotland the number of active subscribers using FreeAgent's SaaS solutions is currently c. 52,000.


Admission to AIM and First Day of Dealings 16 Nov 2016

Interim Results
RNS
RNS Number : 7466R
FreeAgent Holdings PLC
14 December 2016
 
14 December 2016
 
FreeAgent Holdings plc
 
("FreeAgent", the "Company" or the "Group")
 
Interim results for the six months ended 30 September 2016
 
 
FreeAgent Holdings plc, a provider of cloud-based Software-as-a-Service ("SaaS") accounting software solutions and mobile applications designed specifically for UK micro-businesses, today announces its unaudited interim results for the six months ended 30 September 2016.
 
Financial Highlights
·     Revenue increased by 36% to £3.6 m (H1 2015: £2.6m).
·     Gross Profit up 38% to £3.0 m (H1 2015: £2.2m).
·     Gross Profit Margin at 84% (H1 2015:  83%).
·     Strong revenue visibility with ACMRR up 35% at £7.7m.
·     Net loss of £1.3m (H1 2015: £0.4m) reflecting investment in customer acquisition, a share options expense of £0.5m, and unrealised losses on the USD loan facility of £0.2m.
 
Operational Highlights
·     Accounting Practice clients significantly increased to 27,137 (H1 2015: 12,611).
·     Direct Clients increased to 16,724 (H1 2015: 14,582).
·     Growth driven by investments in customer acquisition, particularly in the practice channel.
 
Post-period Highlights
·     Successful placing of £8 million of new equity and admission to AIM in November 2016.
·     Balance sheet strengthened, with repayment of debt leaving £5 million of net cash immediately after IPO.
·     Andy Roberts appointed non-executive chairman and Nigel Halkes appointed non-executive director.
 
Commenting on today's results, Ed Molyneux, Chief Executive, said:
 
"On 16 November 2016, FreeAgent was admitted to the AIM market of the London Stock Exchange. This is a significant milestone for us, and an achievement which the Board believes will be transformational for the Group's future growth and prospects.  The repayment of the loan facility with the placing proceeds and the new investment from the IPO has significantly strengthened our balance sheet and provides us with the opportunity to further invest in customer acquisition activities and product development to enhance our product offering.
 
As a newly-listed public company, we are especially pleased to report strong performance in our first set of interim results. The 36% growth in revenue maintains our FY15 and FY16 growth rates, and at the same time we have also improved gross margins. The second half has started positively and we are confident we will report further significant progress within our full-year results, consistent with market expectations."

Midas tip 31 Dec 16

There are about five and a half million businesses in the UK today, but 95 per cent of them have fewer than ten staff and more than four million are one-man bands. 
These plumbers, florists, IT consultants, hairdressers and such like are primarily concerned with developing their businesses and keeping them afloat.
Keeping on top of their accounts is rarely a priority: rather, it is a chore. 
Much of the work has to be done by the business owners – fitted in between a myriad other jobs – and the rest is completed by accountants, who often find the work time-consuming and tedious too.
FreeAgent aims to make life simpler and more cost-effective for these millions of micro businesses and their accountants. 
The company joined AIM in November at 84p a share, it is currently trading at 88½p and the price should rise considerably over the next few years.
FreeAgent has devised an online system that enables freelancers and micro- businesses to keep abreast of book-keeping and account management simply and effectively. 

The system sets up and sends invoices, tracks expenses, provides an up-to-date picture of how the business is performing and, crucially, calculates tax liabilities on an ongoing basis.
The Edinburgh-based company was founded by Ed Molyneux, an Oxford graduate in engineering and computer science, who spent 11 years with the Royal Air Force, including two tours of duty as a Harrier pilot. 
In 2006, he built the FreeAgent system to solve his own accounting problems and set up the business a year later with two co-founders.
Initially, Molyneux focused on winning over individual customers, but in recent years he has begun to source customers directly from accountants, a policy which has proved highly successful. 

The company has started working with a high street bank too, which is planning to offer FreeAgent software to all new micro- business customers.
The company has almost 45,000 clients, most of whom are extremely enthusiastic about the service they receive. 
Sales rose 35 per cent to £5.7 million in the year to March 2016 and are expected to rise by 33 per cent to £7.6 million in the current year.
The group is investing heavily in acquiring new customers and improving its technology, but it should break into profit in 2019, growing rapidly from then.
Midas verdict: FreeAgent has devised an accounting system for a section of the business community that has been underserved to date. The shares should go far. Buy.

Contract with Royal Bank of Scotland Plc

RNS


RNS Number : 5448U

FreeAgent Holdings PLC

19 January 2017




19 January 2017



FreeAgent Holdings plc



("FreeAgent" or the "Company")



Contract with Royal Bank of Scotland Plc

FreeAgent Holdings plc, a provider of cloud-based Software-as-a-Service ("SaaS") accounting software solutions and mobile applications designed specifically for UK micro-businesses, is pleased to announce that it has signed a contract with the The Royal Bank of Scotland Plc ("RBS").

In its IPO Admission Document, the Group stated that October 2016 saw the soft launch of a new commercial collaboration with a major UK bank under which small business customers of that institution which meet FreeAgent's core target market profile will be offered the branded FreeAgent SaaS solution as an additional part of their account on-boarding process.

Today's agreement formalises and extends that collaboration. Since 19 October 2016, RBS has piloted the use of FreeAgent's SaaS Solution with its NatWest and Royal Bank of Scotland customers. This offering will enable RBS' business account customers to access FreeAgent's software, catering for all of their business finance requirements from timeslips to tax returns and quality after sales support.

Under the terms of the contract, the service is scheduled to be made available to RBS' small business account customers across 2017.

The service will be offered free to RBS' business bank account customers who agree to data sharing, with licences paid to FreeAgent directly by RBS.

As outlined at the time of IPO, in line with its growth strategy, FreeAgent is dedicated to attracting more customers through its accountancy practice channel, introducing the benefits of FreeAgent to thousands of other businesses.



Ed Molyneux, Chief Executive Officer of FreeAgent Holdings, commented:



"I am pleased to report that FreeAgent has formalised and extended its relationship with RBS to provide the benefits of FreeAgent to RBS' business bank account customers. Given that our relationship with RBS only started in October 2016, we do not expect a material revenue contribution from licences sold under the agreement for the year ending 31 March 2017 and we expect an accurate picture of the level of take-up by RBS clients to emerge only once we have several months of operational data at our disposal. However, we are naturally excited about the potential for this new agreement, particularly once our services are made available to RBS' back-book in H2 2017."

Marcelino Castrillo, Managing Director of Business and Private Banking at RBS, commented:

"The way customers want to bank with us is constantly changing, so it is important for us to innovate. From over 30 vendor proposals we chose FreeAgent because of their willingness to collaborate with us and shape a proposition that really works for our customers, as well as the capability of their platform. The feedback on FreeAgent's platform speaks for itself, and when we piloted FreeAgent with our customers the majority said they would recommend us if we were to offer the service in future. This sort of endorsement is hard to come by so I'm very excited to see where this partnership can take us."

* * * * *

The Royal Bank of Scotland contract could bring large revenues.

Ed Molyneux

CEO, Founder



The FreeAgent Blog





Giving small businesses a boost with Royal Bank of Scotland and NatWest
Posted on 19 January 2017 by Ed Molyneux - 0 Comments


We’ve got some exciting news to share with you here at FreeAgent Towers. Earlier today, we announced a brand new partnership with Royal Bank of Scotland and NatWest - which will see them offer FreeAgent to their small business customers across the whole of the UK throughout 2017.

FreeAgent will be linked with businesses’ bank accounts, offering Royal Bank of Scotland and NatWest customers all the benefits of our software as well as a unique integration between their banking platform and FreeAgent which will enhance the services we both offer.

Our partnership was announced at an event at the Bank’s global HQ here in Edinburgh this morning, and we’re absolutely thrilled to have been chosen from over 30 vendors to help and support Royal Bank of Scotland and NatWest’s business customers. By moving onto the FreeAgent platform, we hope life will become easier for these small business owners (who in many cases have to do their accounting themselves) by allowing them to concentrate on running their businesses.

This is a really exciting partnership for us and we look forward to developing our relationship with Royal Bank of Scotland and NatWest throughout the rest of 2017 and beyond.

Keep an eye out for more information.

I'm thinking about this one dream , but there's others , you on steroids can't keep up with you .

Well I went for a cuppa and 25000 shares takes it up 13p jeez .

The company is yet to make a profit. Come to think of it so was Wandisco and the sp for that company went through the roof. :-))

Come on keep up. lol

Securities in issue

40,622,480 ordinary shares of 1 pence each.


Percentage of securities not in public hands

60.5%




Shareholder name/Percentage of shares

Opus Incertum Limited 15.3%
IRIS Group Limited 9.6%
Ed Molyneux 8.9%
Olly Headey 7.5%
Local Globe IV Limited 6.9%
Roan Lavery 6.5%
Livingbridge 5.1%
Alto Invest 4.3%
RJ Beteiligungsgesellschaft MBH 3.9%
Octopus 3.4%

Clearly going to motor if the buying pressure keeps up.

I've missed this , dithered too many times but amazed it's still going so strong .

I would think there is a shortage of shares. Also one of, if not best systems for micro companies.

Every buy pushing up the price. :-))

May well of been dropped to trigger stops. Still very keen buying. MM's playing games being pushed back up now.

Who Should Attend?Date:

Wednesday 15th February 2017

Venue:

Radisson Blu Hotel Edinburgh, 80 High Street, The Royal Mile, Edinburgh, EH11TH

Event Timings:Sponsored by:

The shares being tightly held. The dropping of the sp some 2.5% triggered no sells. :-))

Mmmm am I going to get a 2nd chance here , hope so .

I'm sitting on mine. As you say they are beginning to fall.

Sold and hope to re-buy back cheaper

Interesting to watch next week if Fridays fall continues.

Well seems so at this point , keeping an eye on it .

I'm just wondering seeing it drop so sharp , do i want to be in such a share , still banging down .

AND AS FAST UP. :-))

Unless there is a big seller in the background, this looks like a tree shake. Not many free shares, still being held tight.

Yes it certainly can move up fast , still after it .

A substantial fall today.

buys equal to sells so they are not picking up shares. Same yesterday.

Very strange watching it no idea what it's all about , some largeish buys but they don't affect it .

Well bought at 105 , beyond belief this , just went down every small sell .

Good luck. Will grab a few on Friday. Buys pretty much equal sells again.

Back in this morning, games clearly being played.

I hoped you did , very strange goings on . Could the directors sell some shares to make them more liquid .

40,622,480 shares of which 60.5% not in public hands (24 million odd) which only leaves about 16.5 million .


Ed Molyneux 3.6 million shares 8.9%

Oily Headley 3 million odd shares 7.5 %

The directors realeasing shares I would think will not make much difference.


I will play with the mm's sell as they drop them and rebuy. There could be more interest after the Moneyam investor company meeting.

See what happens after tonight's show , may have calmed down a bit now .

Sounds like the event is only round the corner from the offices of Freeagent. :-))

It's all about the audience and how many hear it really I suppose .

A good update on the banks they signed up as well and also any new business.

nice rise.

A buy in this weeks Shares mag.

Well lets hope these rises can stick from now on .

Like Shares states investors in early for 10% gain have left, so the sp should gain but at a more steady pace.

Seems to be as before here , surprised after Shares rec and investors meet .

Still think it is being played , again buys pretty much the same as sells.

Trading Update
RNS
RNS Number : 6949B
FreeAgent Holdings PLC
06 April 2017
 
6 April 2017
 
FreeAgent Holdings plc
 
("FreeAgent", the "Company" or the "Group")
 
Trading Update
 
FreeAgent Holdings plc, a provider of cloud-based Software-as-a-Service ("SaaS") accounting software solutions and mobile applications designed specifically for UK micro-businesses, today provides the following trading update for the year ended 31 March 2017.
 
For the full year ended 31 March 2017, the Board expects to report both revenue and Annualised Committed Monthly Recurring Revenue ("ACMRR") at the period end in line with market expectations at £8.0 million and £8.6 million respectively. Both the adjusted EBITDA loss and period end net cash are expected to be comfortably better than current market expectations.  The Group's gross profit margin remained above 80%.
 
Ed Molyneux, Group CEO, commented:
 
"FreeAgent has made good progress on all fronts post IPO and trading has been in line with expectations.  We are making progress in developing both existing and new sales channels and remain confident that the Group is well positioned for continued strong growth."   

Nice to get some info from them seems ok .

Going up nicely , it may hold onto it's gains now we've had some info dream .

A long road ahead to get back to the high.

Still seems a bit volatile as it dropped later in the day .

Notice of Results
RNS
RNS Number : 6380E
FreeAgent Holdings PLC
10 May 2017
 
10 May 2017
 
FreeAgent Holdings plc
 
("FreeAgent", the "Company" or the "Group")
 
Notice of Preliminary Results
 
FreeAgent Holdings plc, a provider of cloud-based Software-as-a-Service ("SaaS") accounting software solutions and mobile applications designed specifically for UK micro-businesses, expects to report its preliminary results for the year ended 31 March 2017 on Tuesday 6 June 2017.

I hope they are good , i'm a bit disappointed so far .

So do I.

A good day, still a lot further to go.

Results Tues 6th , so maybe sell on news job .

Need to be good.

RNS out looks ok to me should settle down and rise hopefully , future seems solid .

They raise it up to 122 someone buys 2,438 a few measly sells come in and they drop it , i'd be a bit miffed . enough to put anyone off owning shares .

Seems to be as dead as a Dodo here , need some news of sorts to get interest up , very disappointed really .

Agree.

Just wondering will this lift off or dive?

Rightly or wrongly dream i sold , in anticipation of other stocks being better prospects , lost couple of hundred but there's just no info or potential floating about .

May do the same VICTIM.

Probably go into orbit now that I sold these.

I thought there would be a low here , but only 16,000 share bought .

Could well retrace tomorrow or indeed increase. lol

Interim Results
RNS
RNS Number : 3938Y
FreeAgent Holdings PLC
05 December 2017
 
 
FreeAgent Holdings plc
 
("FreeAgent", the "Company" or the "Group")
 
Interim results for the six months ended 30 September 2017
 
 
FreeAgent Holdings plc, a provider of cloud-based Software-as-a-Service ("SaaS") accounting software solutions and mobile applications designed specifically for UK micro-businesses, today announces its unaudited interim results for the six months ended 30 September 2017.
 
Financial Highlights
·     Revenue increased by 28% to £4.6m (H1 2017: £3.6m)
·     Gross profit up 22% to £3.7m (H1 2017: £3.0m)
·     Gross profit margin 80% (H1 2017: 84%)
·     Adjusted EBITDA loss £0.3m (H1 2017: loss £0.4m), as expected
·     Net loss of £1.0m, reflecting planned growth in further customer acquisition and support costs and increased investment in product development (H1 2017: £1.3m)
·     Net cash of £3.4m as at 30 September 2017 (H1 2017: £0.6m)
·     Residual lifetime value of future subscriptions from existing customer base increased by 15% to £44.0m (H1 2017: £38.1m)
·     Good revenue visibility maintained with ACMRR up 17% at £9.0m (H1 2017: £7.7m)
 
Operational & Strategic Highlights
·     Accounting practice clients increased to 37,600 (H1 2017: 29,485)
·     Direct clients increased to 18,247 (H1 2017: 16,724)
·     Strategic partnership with the RBS Group (RBS) building momentum with RBS customer portal activated during September
o  Initial RBS monthly subscribers 571 (H1 2017: nil)
o  Post period-end: a further c1,200 monthly subscribers were added. Total c1,800 as at 4 December 2017
·     Customer Net Promoter Score (NPS) remained high at 72
 
Commenting on today's results, Ed Molyneux, Chief Executive, said:
 
"The first half has seen FreeAgent report continued strong revenue growth with an evolving channel mix.  Growth has continued in both our direct sales and practice sale channels and, whilst the rate of growth in our practice sales has been tempered by changes to IR35 'off-payroll' legislation which has affected public sector contractors, the underlying market drivers remain intact as accounting professionals transition towards digital accounting to cater for all their business requirements. 
 
Considerable progress has been made in developing our strategic partnership with the RBS Group, with the Bank's customer portal going live towards the end of the financial period and initial monthly subscriptions by early adopters in line with our expectations. RBS' commitment to the project is evidenced by significant sector and financial support, and the endorsement of senior RBS management. We look forward to reporting further progress with the rollout in the second half."
 
 
The glossary on page 5 contains definitions and basis of calculation of SaaS metrics.
 
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014.
 

Not exactly buying in hordes here dream , pretty good interims , I think the MM's killed this share the way they dropped and raised it so sharply .

Just watching this company ViCTIM.

Well look at this , must be takeover , never mind some you win .

Blimey just looked and it just banged up about 10 oclock , needs looking into this very strange dream .

Ha , RBS recommended offer , never saw the RNS . sorry .

Well done VICTIM, that is if you still hold. Held these for a brief period.

No i sold out ages ago , but thought of buying back . Too late .