FLX

About FLX

Felix Group Holdings Limited (FLX) operates a cloud-based enterprise Software as a Service (SaaS) procurement management platform and vendor marketplace. Felix connects contractors and third-party vendors by digitising, automating, and streamlining a range of critical procurement-related business processes ? reducing supply chain risk and improving transparency and governance. Services include Vendor management, Procurement Schedule, Sourcing, Contracts and Vendor Marketplace.

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What does Felix Group Holdings Ltd (FLX) do? 

Felix Group Holdings Ltd operates a Software as a Service (SaaS) and marketplace platform for commercial construction contractors and their third-party vendors.

While Felix’s cloud-based platform was designed to automate and streamline tasks and business processes for the construction industry, it has also gained traction in other sectors. These include public infrastructure, mining, government, utilities and resources and facilities management.

As of 31 December 2021, Felix has 38 contractors on their platform across Australia and New Zealand. They include Fulton Hogan, FKG Group, Seymour Whyte, Connect Sydney, Westgold and GenusPlus.

Felix was incorporated in 2012 and is currently headquartered in Brisbane, Australia.

How does Felix make money?

Felix earns revenue via two main subscription streams:

• Enterprise SaaS (Contractor) — Felix provides contractors with the ability to manage vendors, procurement schedules and sourcing activities via its SaaS solutions.

• Marketplace Subscriptions (Vendor) — Felix makes purchasing, contracting and tendering with leading enterprises a seamless experience for vendors via its Vendor Marketplace.

Felix consolidates the two streams into one segment for reporting.

Is Felix Group Holdings a profitable company?

Felix’s revenue has been steady over the past four financial years. The company earned A$2.42m, A$3.01m, A$3.7m and A$3.6m in FY2018, FY2019, FY2020 and FY2021, respectively.

However, during the same period Felix also reported net losses which appear to have sunk deeper into the red. Felix’s net losses arrived at A$4.2m, A$5.29m, A$7.22m and A$10.78m in FY2018, FY2019, FY2020 and FY2021, respectively.

In the company’s FY2022 half-yearly report, Felix reported a cash balance of A$6.084m.

Is FLX stock a buy?

Investor sentiment around the stock seems to be mixed.

Felix successfully IPO'd on 12 January 2021 with the FLX stock price opening at A$0.38 which flew to a high of A$0.47 on its second day of trade. But by August 2021, FLX stock had deteriorated to an all-time low of A$0.18. FLX stock has struggled since, see-sawing back to the A$0.30 range in April 2022.

Some investors appear to have bought into Felix’s Chairman Michael Bushby’s vision of the Felix platform becoming “a core part of and deeply embedded within a Contractor’s operations, making it difficult to replace”.

Other investors appear to be concerned about the current weakness of the company’s financials.

Does FLX stock pay dividends?

No, FLX stock does not pay dividends at this time and has not announced any intention to pay them in the future.

Who owns FLX stock?

FLX stock is owned by a mix of institutional investors (37.4%), individual insiders (30.2%), the general public (17.2%) and private companies (15.3%).

Some of the stock’s largest owners include Former Non-Executive Director David Williams (14.38%), Non-Executive Director George H. Rolleston (7.71%), M.A.D Technologies (6.35%), MADAD Ventures (4.59%), Lian Hua Koh (3.46%), SFO Ventures (1.39%), Queensland Business Development Fund (1.38%) and Philippa Statham Pty Ltd (1.06%).

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