Moreover I’ve not seen any conf calls to explain what is going on there.
Recent announcement - 8K Miles Healthcare Business Gains Strong Momentum
with New Client Wins and Client Project Expansions
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Hi @phreakv6, I do not follow this company recently, but one thing that I recollect from my earlier study is that, it’s not just one-time migration, but they do on-going support of the migrated applications also, which could be long-term contracts.
Also, I fully agree with you that the term “Digital” is purely a marketing hype.
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“Support” is the biggest cash cow of all s/w companies.
Not for cloud companies because that’s the whole purpose of moving to the cloud.
Anyway, I looked through FY17 AR and saw the mention of Fortune xxx companies being their customers so many times.
Simple question is, who are these companies and why isn’t the name of a single Customer mentioned anywhere? Does anyone know who these customers are? I was somewhat reminded of Fiberweb AR because there again the name of the Customers was conspicuous by its absence and of Subex AR - jargon-filled and colourful but somehow very hollow.
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But none of those companies in the press release or the ones on the homepage are Fortune 500 companies. I was specifically looking for the big companies because the revenue one can make from these small companies cannot scale. They claim top 10 customers contribute 33% or so of the topline so I was looking to see who these specifically are.
As for deducting Oracle is their client, what if the “ABOUT OUR CLIENT” description was actually taken from Oracle’s fact sheet to let people find what they are looking for? Maybe I am being too skeptical here but the simpler question is, if Oracle was indeed a client, why not reveal the name? Almost all software companies I know of always display their marquee clients proudly. It is only when it comes to a case study or so that they obfuscate as it might reveal too much detail that the Customer may not be happy with.
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Cisco, Warner Bros, Trimble (mentioned on the homepage)
probably because it is more of a vendor to 8k Miles (like Amazon, Microsoft, Google) apart from being a client for identity service platform of 8k miles.
It was a case study only - page no. 18 of AR 2017.
The company also manages cloud-based enterprise software, besides providing data security solutions for its clients, which include Novartis, General Electric, Air Asia, Xerox, Intel, and Merck. Unlike AWS, 8K Miles does not own any data centres.
Source - Forbes Article on 8K Miles Software
8K Miles Achieves ISO/IEC 27001:2013 Information Security Management System Certification. PFA
b551037d-7f1a-45f0-ab66-e72c462e0f8c.pdf (617.6 KB)
Main problem which I feel here is the high increase of Account receivables. Usually an IT company have no or minimum receivables. But such a high percentage of receivables does not give a confidence. If the sales are not real , sooner or later business have to fall. No business can survive in long term without cash inflows. The receivables should be watched carefully. Do they conduct con calls ? If any one attends , please try to get some clarity on this.
Consolidated Results were supposed to come out by today. But nothing has been reported on the exchanges as of 8:30pm.
This does not make the company look good … Hope the results come out before market open on Monday.
If anyone has any information, please do update! Thank you!
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They mentioned ‘around 22nd June’ . 22nd june may not be the exact date. Though it is very confusing.
Just got it from money control forum . “Message on Moneycontrol Message Board: 8K Miles Soft
Thank You. Just now I also talked to 8K Miles office and connected to company secretary office. He replied tomorrow or day after tomorrow they will announce exact date of result. Result will be most probably next week. Auditors are working day and night as per information from office.”
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Just got off the phone after talking with the company secretary.
I was told that they will announce the result date (not the result itself) either end of day tomorrow or MAX by Friday i.e. 29th June.
It seems that they need to give a mandatory 7 day notice before the announcement so the results can be expected by 6th July.
I also ended up asking (my exact words): “There is nothing to worry, right?”
His reply (his exact words): “There is nothing to worry!”
Ha ha … Whatever that means.
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I suggest members call 8K Miles at the following number: 044 6602 8000 and ask them about the result.
All you need to do is call up the above number and tell the receptionist that you are in investor in the company and would like to talk to someone in the company sec’s office to know when the consolidated results will be announced.
If more people call, the company might feel some pressure.
Please do update this thread if you do call.
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They have asked us to call back after 11 r so. It seems like some meeting underway.
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Wow! Great!
Please do follow up with them.
Other, please call after noon and give the updates!
Thanks!