TECH INSIGHTS Source: Clare Capital Data
Total Page：16
File Type：pdf, Size：1020Kb
TECH INSIGHTS Source: Clare Capital Data: Factset and Company Reports If you want to be added to the distribution list, please email Mark Clare at [email protected] or call on +64-21-470227 Overview Clare Capital - Tech Insights 48 - Australasian Tech Wages & Salaries Costs - 20170728 This report looks at staff costs (primarily wages and salaries for employees of a company) as a percentage of revenue and how it changes given the revenue of a company. There is a lot of variation in staff costs for smaller companies (revenue between $1-5 million). However, once a company reaches a certain scale (revenue greater than $20 million) than staff costs remain around 35-45% of revenue. Only staff costs which have been expensed (i.e. employee costs on the Profit & Loss statement) have been included. This does not include any staff costs which have capitalised (i.e. capitalised development costs on the Cash Flow statement). For example, some Tech companies capitalise the salaries of developers working on the product/platform (i.e. Research & Development). This will not be included in the staff costs below and will undervalue the 'actual' staff costs as a % of revenue. Staff Costs (% of Revenue) from the Profit & Loss Statement - excluding capitalised development costs Staff Costs Definition Revenue 1M-5M 5M-20M 20M-50M 50M-150M 150M+ Staff Costs represents the total compensation to employees for services. These include stock options - expense, social benefits and costs, pension plans contribution and profit sharing expenses. These 20% exclude directors remuneration, agent sales 40% commissions, fees paid for third-party professionals for services, regardless if relating to the production 60% process or not. 80% NZX Tech Ticker Revenue %Costs Legend: EROAD ERD 32 35% 100% Gentrack GTK 52 50% Lower Quartile GeoOp GEO 2 183% 120% ikeGPS IKE 6 124% Median (middle line) Orion Health OHE 199 81% 140% Staff Staff Costs of (% Revenue) Upper Quartile Plexure PLX 7 73% Pushpay PPH 48 77% 160% Average Rakon RAK 95 40% Serko SKO 14 86% 180% SLI Systems SLI 35 60% 200% SmartPay SPY 21 34% Trade Me TME 218 15% Revenue 1M-5M 5M-20M 20M-50M 50M-150M 150M+ Vista VGL 89 50% Count 24 18 21 21 21 Xero XRO 295 57% Average 174% 76% 41% 46% 39% Lower Quartile 85% 61% 29% 36% 22% Definitions Units Median 144% 72% 35% 48% 37% Revenue = Last Financial Year Revenue NZD Millions Upper Quartile 188% 89% 51% 55% 50% %Costs = Staff Costs as a % of Revenue % www.clarecapital.co.nz l Level 5, 1 Woodward Street, PO Box 10269, Wellington 6143, New Zealand Page 1 of 2 TECH INSIGHTS Source: Clare Capital Data: Factset and Company Reports If you want to be added to the distribution list, please email Mark Clare at [email protected] or call on +64-21-470227 ASX Tech Ticker Revenue %Costs ASX Tech Ticker Revenue %Costs ASX Tech Ticker Revenue %Costs 1st Available 1ST 2 143% GBST GBT 108 52% RedBubble RBL 115 22% 3P Learning 3PL 49 48% Global Health GLH 6 61% Rhipe RHP 143 13% 8Common 8CO 4 74% Grays eCommerce GEG 155 36% RungePincockMinarco RUL 57 76% 9 Spokes 9SP 1 818% Gruden GGL 1 31% RXP Services RXP 127 79% Aconex ACX 123 55% Hansen Tech. HSN 149 50% Seek SEK 950 37% Adacel ADA 48 51% Harris Tech. HT8 18 14% SkyFii SKF 2 104% Adslot ADJ 8 90% iCar Asia ICQ 7 142% Smart Parking SPZ 32 45% Afterpay AFY 1 89% iCollege ICT 3 24% SmartTrans SMA 12 16% AHAlife AHL 7 85% Infomedia IFM 68 48% SMS Management SMX 329 83% Alcidion ALC 3 95% Integrated Research IRI 85 55% Tech Mpire TMP 32 12% Altium ALU 129 48% IRESS IRE 390 52% Technology One TNE 246 50% Appen APX 111 20% iSelect ISU 172 38% Tomizone TOM 3 91% Bigtincan BTH 7 114% iSentia Group ISD 156 40% Touchcorp TCH 37 23% BPS Tech. BPS 50 42% Jayex Healthcare JHL 9 62% Urbanise.com UBN 8 123% Bravura Solutions BVS 185 65% Kogan.com KGN 211 4% Vault Intelligence VLT 3 59% Bulletproof BPF 47 33% Link Admin LNK 776 46% Velpic VPC 1 157% Byte Power BPG 3 20% MedAdvisor MDR 1 162% Volpara VHT 2 227% Carsales.com CAR 344 22% Megaport MP1 3 401% Webjet WEB 152 27% Catapult Group CAT 17 65% Melbourne IT MLB 168 32% Wisetech Global WTC 103 69% Class CL1 23 43% migme MIG 21 48% Xref XF1 1 146% ComOps COM 9 71% Mint Payments MNW 3 193% YPB Group YPB 3 174% Computershare CPU 2,690 41% Mitula Group MUA 28 29% Corum Group COO 16 63% Mobile Embrace MBE 61 20% Definitions Units CPT Global CGO 29 11% MOQ MOQ 34 13% Revenue = Last Financial Year Revenue AUD Millions Crowd Mobile CM8 37 16% MYOB MYO 370 34% %Costs = Staff Costs as a % of Revenue % Data#3 DTL 981 11% Newzulu NWZ 3 278% Decimal Software DSX 1 376% Nextdc NXT 89 26% Disclaimer Dropsuite DSE 1 94% Objective Corp. OCL 50 68% The information provided in this report has been solely DWS DWS 144 79% Otherlevels OLV 3 187% sourced and calculated from Factset. Clare Capital holds Empired EPD 160 17% Praemium PPS 28 71% no responsibility over the actual numbers. Energy One EOL 5 39% Pro Medicus PME 28 31% Enzumo ENZ 6 47% Prophecy Intl. PRO 15 48% Clare Capital is not an Authorised Financial Adviser. eServGlobal ESV 22 87% Pureprofile PPL 27 35% This document is intended as analysis. If you are making FirstWave Cloud FCT 6 87% REA Group REA 630 22% investment decisions you should seek appropriate Freelancer FLN 53 41% Reckon RKN 98 36% personalised financial advice. www.clarecapital.co.nz l Level 5, 1 Woodward Street, PO Box 10269, Wellington 6143, New Zealand Page 2 of 2 .