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Dolat Capital Report
Intellect Design Arena Ltd. reported 20.3% YoY growth (our estimate: 20%) in revenue at $55 million.
Ebitda margin advanced 378 basis points YoY to 24.2% below estimates (our estimate: 26%) due to adverse revenue mix (license revenue down 7% QoQ).
Commentary remains confident on sustaining revenue traction as they remain committed to double digit growth in FY22 (Intellect Design Arena expects 14% compound annual growth rate over next five years) backed by strong funnel at $628 million (up by 18.5% YoY) sustained deal win momentum in Q1 (added 10 deal wins including five large deal wins) and robust growth in software as a service business (up 100% YoY- helped by accelerated gross merchandise in government e-marketplace portal).
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