HotViews Archive

Skip Navigation Links.
Collapse 2019 (52)2019 (52)
Collapse June (52)June (52)
Snap stretched!
17 Jun 2019
Prowler.io secures $24m for its decision platform and vertical expansion
17 Jun 2019
FairFX heralds continued growth
17 Jun 2019
Serco Babcock talks a sign of the times
17 Jun 2019
Zava raises $32m to expand its online doctor service
17 Jun 2019
Dan Docherty - key SaaS appointment at Advanced
17 Jun 2019
Riverlane gets a quantum of funding
17 Jun 2019
Audio Analytic hears the sound of a ‘B’ round
17 Jun 2019
An Evening with TechMarketView: Mastercard's Gamino joins speaker lineup
17 Jun 2019
*NEW RESEARCH* OffshoreViews Q1 2019 review: TCS widens the UK gap
16 Jun 2019
Mindtree independent directors recommend L&T offer
16 Jun 2019
Privitar cooks up better cookie control
16 Jun 2019
RM acquires SoNET to deepen digital assessment services
14 Jun 2019
Mporium raises £1.9m for restructure
14 Jun 2019
CGI sees the value in SCISYS
14 Jun 2019
Buyers paying less for European tech M&A
14 Jun 2019
Revolut's global push arrives in Australia
14 Jun 2019
Atos lands $150m National Grid EX deal
14 Jun 2019
VMware bolsters multi-cloud security with Avi Networks buy
14 Jun 2019
Hexaware dishes the dosh for CX play Mobiquity
14 Jun 2019
New CEO presides over ‘in line’ SThree
14 Jun 2019
Adarma breaks out of ECS Security
13 Jun 2019
Dassault Systèmes invests in Medidata analytics
13 Jun 2019
ThetaRay boosted by ABN Amro investment
13 Jun 2019
Great British Scaleup: Wieldy
13 Jun 2019
OnTheMarket's losses on the move
13 Jun 2019
**NEW RESEARCH** Recruitment Outsourcing - Is there a better way?
13 Jun 2019
**NEW RESEARCH** Another Year Another $1Billion – the SI Creative Agency Spending Spree Continues
13 Jun 2019
TechMarketView Advertising Summer Deals
13 Jun 2019
Strong sales boost Eckoh as profits slide
12 Jun 2019
StatPro acquires ESG research and index business
12 Jun 2019
Latest TechMarketView Research
12 Jun 2019
The Panoply acquires FutureGov
12 Jun 2019
Belfast’s Datactics finds funding match
12 Jun 2019
Smiles for Realeyes as realises more funding
12 Jun 2019
*UKHotViewsExtra* Salesforce: $15.7bn to visualise a future with Tableau
11 Jun 2019
Privitar raises dosh but fails ‘cookie privacy' test
11 Jun 2019
iomart hits £100m revenue milestone
11 Jun 2019
**NEW RESEARCH** Securing the cloud: A case of shared responsibility
11 Jun 2019
Infosys aims to create magic on the roundabout
11 Jun 2019
London Tech Week brings boost to UK tech
11 Jun 2019
*UKHotViews Extra* Shifting gear
11 Jun 2019
Ocado invests in AgriTech
11 Jun 2019
Tech Talent Charter: Tackling the female talent pipeline
10 Jun 2019
New Signature's Microsoft award reflects customer innovations
10 Jun 2019
Woodford sell-down prompts interest in Purplebricks
10 Jun 2019
TrueLayer secures $35m for Open Banking push
10 Jun 2019
Triad revenues drop 18%
10 Jun 2019
Ideagen buys again
10 Jun 2019
NEW RESEARCH: Partnerships help drive growth at LBB Infoshare
10 Jun 2019
Social fashion marketplace Depop pops another $62m
10 Jun 2019
Want To Stand Out From The Crowd?
10 Jun 2019

UKHotViews©

 

Thursday 13 June 2019

OnTheMarket's losses on the move

logoIt’s not only Purplebricks that’s finding the online real estate market challenging (see Woodford sell-down prompts interest in Purplebricks). ‘New kid on the block’ OnTheMarket, which launched on AIM in February 2018, has released its first annual results as a public company (to 31st January 2019 - better late than never, I suppose) with the achievement of losses even greater than revenues.

OnTheMarket’s headline revenues grew by 5% in FY19 to £14.2m. However, net losses deepened to £14.5m, 102% of revenues (FY18: 89% of revenues). The company burned through £12m in operating cash leaving £15.7m in the piggy bank. OnTheMarket raised £30m gross when it IPO’d.

There are of course excitable statements from the management team about OnTheMarket’s increasing penetration of the real estate market, claiming third ranking behind Rightmove and (Silverlake-owned) Zoopla based on residential properties listed (Purplebricks doesn’t seem to report this metric). Both Rightmove and Zoopla are profitable (see More interesting times in online real estate); Purplebricks is to announce FY results next month, but reported net losses of £27.8m on revenues of £70.1m at half-time.

Nonetheless, OnTheMarket’s investors appear to be keeping the faith. It shares are up 10.5% so far this year but, at 101p, are still some 40% below their 165p listing price. In contrast, Rightmove’s shares are up 33% ytd, and Purplebricks' are down 26%.

The battle for property sales continues …

Posted by Anthony Miller at '08:36' - Tagged: results  

Add a comment Add a comment Twitter   Facebook   LinkedIn   Email article link




© TechMarketView LLP 2007-2019: Unauthorised reproduction prohibited see full Terms and Conditions.