Some yellow flags: very bad guidance, repeatedly cutting it a lot. Not providing NRR figures amidst these cuts, but they certainly are not getting 120% right now. I want it cheaper
Thanks for sharing and keeping all of us alert. I get your concerns. The company is relatively new on the stock market. It takes some time to know how management communicates, what they find important to share and how they proceed in various situations.
They will share NRR in the annual report I suppose. We’ll know more at the end of the month when the report is released.
The reason for lower expected guidance comes from holding off on taking decisions by their customers.
The company’s story is good with a temporary hiccup. A great opportunity to take a position during such times.
I look forward to an entry between 14-15 euros right now (below IPO). What price are you looking for?
I got in at 21€ before they cut guidance in Summer. It was compelling if they can compound at 15%+ revenue growth. After the guidance cut I was fortunate to exit around those 21€. I'm reluctant to add another SaaS right now, I'd have to switch it for an existing software company in my portfolio. We'll see how cheap they can get.
Going public and then constantly dropping guidance leaves a bad feeling in my mouth. Insider ownership is comforting at least. This could be a great company, but I dislike the uncertainty right now. I don't want to fall for an IPO on a decelerating business.
I like your mention of scuttlebutt. Online reviews and Reddit answers mentioned Planisware as viable solutions, but it seems that relatively few users have experience with Planisware software. (Their customer base is significantly smaller than competitors)
Commenters were in general neutral. Mind that often people only leave reviews to complain.
Unfortunately, I haven’t seen Planisware software myself. So I can’t comment on that. Asana and monday have free trials, because they target companies requiring 2 seats or more.
These tools allow the customers to adjust some processes and workflows and connect them with other tools like Google Docs, Github etc. Especially Asana is solely for project management. Where Planisware adapts to the need in 4 project management pillars, outlined in the article.
It connects multiple departments with different requirements together.
Solid writeup. The competitor withdrawal timing is intresting, especially when combined with the on-premise moat in defense/gov sectors. The 2% churn is telling, industry-specific adaption really does create switching costs most generic PM tools can't match. Balance sheet positioning gives them optionality to be agressive if growth accelerates.
Thanks! Defense contractors start to spend more and more, but is a relatively small group of companies. I think the niche is too small for 2 competitors.
Somehow I doubt that they will aggressive if the situation permits it. In general, European companies majority-owned by founders play it safe. Time will tell.
Great write-up of an interesting company! I will follow this one. I particularly liked the part where it says, "Here, Planisware separates itself from the rest. They have their own vertical integration and offer on-premises software through licences.' I am constantly looking for companies that think differently.
My problem is assessing the long-term moat and stickiness. You gave a good description; it's just that the products are a little hard to understand. But Planisware reminds me a lot of a portfolio holding (Karooooo). I will follow this company and future write-ups! Thanks and good job!
Thanks for your insight. The product is definitely harder to asses. I like to see it, use it etc. The free versions of Asana and Monday allowed me to check it out.
Some yellow flags: very bad guidance, repeatedly cutting it a lot. Not providing NRR figures amidst these cuts, but they certainly are not getting 120% right now. I want it cheaper
Thanks for sharing and keeping all of us alert. I get your concerns. The company is relatively new on the stock market. It takes some time to know how management communicates, what they find important to share and how they proceed in various situations.
They will share NRR in the annual report I suppose. We’ll know more at the end of the month when the report is released.
The reason for lower expected guidance comes from holding off on taking decisions by their customers.
The company’s story is good with a temporary hiccup. A great opportunity to take a position during such times.
I look forward to an entry between 14-15 euros right now (below IPO). What price are you looking for?
I got in at 21€ before they cut guidance in Summer. It was compelling if they can compound at 15%+ revenue growth. After the guidance cut I was fortunate to exit around those 21€. I'm reluctant to add another SaaS right now, I'd have to switch it for an existing software company in my portfolio. We'll see how cheap they can get.
Going public and then constantly dropping guidance leaves a bad feeling in my mouth. Insider ownership is comforting at least. This could be a great company, but I dislike the uncertainty right now. I don't want to fall for an IPO on a decelerating business.
I understand. It seems to be the current trend to pump up all metrics to IPO. Then it disappoints for a short or long time.
I'll follow it closely before taking action
Any Insight on how differentiated the product is vs a Monday.com or other similar software providers?
You did mention the competitors but any scuttlebutt on how customers view the product vis a vis other offerings?
I like your mention of scuttlebutt. Online reviews and Reddit answers mentioned Planisware as viable solutions, but it seems that relatively few users have experience with Planisware software. (Their customer base is significantly smaller than competitors)
Commenters were in general neutral. Mind that often people only leave reviews to complain.
Unfortunately, I haven’t seen Planisware software myself. So I can’t comment on that. Asana and monday have free trials, because they target companies requiring 2 seats or more.
These tools allow the customers to adjust some processes and workflows and connect them with other tools like Google Docs, Github etc. Especially Asana is solely for project management. Where Planisware adapts to the need in 4 project management pillars, outlined in the article.
It connects multiple departments with different requirements together.
Nice write up. Love learning about new companies. Appreciate this!
Thanks, I am glad to provide value for you!
Solid writeup. The competitor withdrawal timing is intresting, especially when combined with the on-premise moat in defense/gov sectors. The 2% churn is telling, industry-specific adaption really does create switching costs most generic PM tools can't match. Balance sheet positioning gives them optionality to be agressive if growth accelerates.
Thanks! Defense contractors start to spend more and more, but is a relatively small group of companies. I think the niche is too small for 2 competitors.
Somehow I doubt that they will aggressive if the situation permits it. In general, European companies majority-owned by founders play it safe. Time will tell.
Great write-up of an interesting company! I will follow this one. I particularly liked the part where it says, "Here, Planisware separates itself from the rest. They have their own vertical integration and offer on-premises software through licences.' I am constantly looking for companies that think differently.
My problem is assessing the long-term moat and stickiness. You gave a good description; it's just that the products are a little hard to understand. But Planisware reminds me a lot of a portfolio holding (Karooooo). I will follow this company and future write-ups! Thanks and good job!
Thanks for your insight. The product is definitely harder to asses. I like to see it, use it etc. The free versions of Asana and Monday allowed me to check it out.