Eagle Eye Solutions (LSE: EYE) has been listed since 2014, coming to the market at a price of 175p.
Background
The business is a digital promotions business (think online coupons) which works in real time for its clients. It’s a software as a solution (SaaS) business which delivers impressive amounts of recurring revenue on its software platform, Eagle Eye AIR.
This offers both the issuance and redemption of digital offers and rewards for clients and their customers. The goal is to attract more customers but also build loyalty with existing customers. The company has some big names signed up to the AIR platform, with three of the big four supermarkets, JD Sports, Greggs, and Loblaws – a Tier 1 client in Canada.
The company also achieved its first US customer – a ‘top 20’ supermarket – last Friday on the 20th.
As we can see, the stock price is not far from its original IPO price. However, there are a lot more shares in issue due to placings, as the business was not self-funding at the time of listing.
I personally think it doesn’t make sense to invest in a business that isn’t self-sustaining (as I have learned the…
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