ActiveOps is enjoying a breakout period, as its technology is being increasingly recognised as the go-to platform, for Ops managers and even execs, to improve human capital related productivity and decision intelligence such that ‘cost centres’ are being run well and can be recognised for delivering customer value. Meanwhile, post H1’s standout results, investors could be asking a similar question of ActiveOps: in that, what’s its potential? This note tries to answer this question and analyse what’s required (and how likely) are the company’s growth targets of £100m ARR and a 25% EBITDA margin. Our view: there is plenty of growth potential and value potential, still to be recognised by the market. We have AOM trading on 20x ’27 P/E.
