Ramco Systems’ Record Order Win Drives Q3 Results Beat; Earnings Upgrade: Dolat Capital
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Dolat Capital Report
Ramco Systems Ltd.’s dollar revenue increased by 8.3% QoQ and 12.2% YoY to $23.3 million well above our estimate of $21.9 million.
Revenue recognition was better as the new clients accounted for 31% of revenues (versus) 20% in Q2.
Bookings for Q3 were strong at $38.4 million (up 28.9% YoY) versus eight quarter average of $26 million.
Strong booking also adds revenue visibility up by approximately $13 million, taking total unexecuted order book to $177.7 million (2.1 times revenue), indicating sustained momentum and improving revenue visibility.
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