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LoopUp Group PLC

LoopUp sees strong pipeline for 2019 as it adds to product range

Snapshot

The company’s core software-as-a-service product aims to make audio conferencing simpler, and more productive

Video conference call

Quick facts: LoopUp Group PLC

Price: £0.64

Market: AIM
Market Cap: £35.36 m
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•    Conference call and remote meeting specialist

•    Reported 121% jump in underlying earnings for 2018

•    Recently launched video functionality and operator-assisted calls

What LoopUp does

LoopUp Group PLC (LON:LOOP) is a technology firm specialising in remote meetings and conference calls.

In a nutshell, the company’s core software-as-a-service (SaaS) product aims to make audio conferencing a whole lot simpler, and more productive.

It uses traditional telephony supplied by tier-one operators across four centres globally, but dialling into a call with an access code isn’t the preferred method for joining LoopUp meetings.

Instead, users simply click a web link and LoopUp will then call them on the phone of their choice.

Participants in the call are then displayed onscreen so people are able to know who is currently on the call and who is talking.

Users can even share biographical details via LinkedIn as well as documents and presentations via their desktops.

What it owns

In May 2018, LoopUp purchased UK-headquartered conferencing services provider the MeetingZone Group for £61.4mln.

MeetingZone has about 6,000 customers worldwide and operations in the UK, Germany, Sweden and North America.

It also sells its own stand-alone audio conferencing services, resells Cisco's WebEx and Spark collaboration services, and also offers a value-added audio services product for Microsoft Skype for Business.

Inflexion points

•    In June, LoopUp unveiled plans to launch a video functionality and an operator-assisted call option. The company said the video function would expand the market for its products and provide an additional source of revenue, while the operator-assisted call service, known as ‘Event by LoopUp’, would be designed to handle large calls or those that require detailed planning

•    In its results for 2018, the company saw its adjusted underlying earnings (EBITDA) shoot up by 121% to £7.7mln while revenues rose to £34.2mln from £17.5mln in 2017, helped by the acquisition of MeetingZone

•    In January the company bagged a significant contract renewal for its services with leading global law firm, Clifford Chance which carried a minimum value of £2.34mln over the three-year term

Interview – Co-CEO Steve Flavell

Blue Sky

Steve Flavell and Michael Hughes, who share chief executive officer duties at LoopUp, said in March that the company was continuing to see “strong demand” for its products in its target market of mid to large-sized enterprises as well as professional service firms.

“We've started 2019 with healthy pipelines and we're confident in our ability to deliver continued strong growth,” they added.

With the shares trading at around 317.5p as of 14 June 2019, LoopUp carries a market cap of £174mln.

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