RNS Number: 6886 N ClearStar, Inc. 22 May 2020 22 May 2020. Notice of Annual General Meeting and Publication of Annual Report. ClearStar, Inc., a provider of Human Capital Integrity℠ technology-based services specialising in background and medical screening, gives notice that the Annual General Meeting of the Company is to be held at 11.00 am EDT on Tuesday 16 June...
ClearStar 48.2p £17.5m (CLSU.L) The provider of Human Capital Integrity℠ technology-based services specialising in background and medical screening, announces the launch of a testing service aimed at supporting employers with their COVID-19 return-to-work planning and keeping their workforce safe. The new service is provided by ClearStar's Medical Information Services business through Clinical Reference Laboratory, Inc., one of the largest privately held clinical testing laboratories in the US, and it includes both an antibody and a diagnostic test. In the first instance, employees receive the CRL Clear™ kit, which is a dried blood spot finger prick test that is used to identify the presence, or lack, of COVID-19 antibodies in the blood, which are produced by the body in response to the virus. This includes IgA, IgM and IgG antibodies, which are produced at different stages of the immune system response. A positive test result indicates that the employee has been previously infected by COVID-19 and has developed antibodies that might provide the employee with immunity. #CLSU
RNS Number: 5524 N ClearStar, Inc. 21 May 2020 21 May 2020. ClearStar launches COVID-19 testing service for employers. New COVID-19 testing programme to assist employers with return-to-work process and workforce safety.
ClearStar 41p £14.9m #CLSU FY Dec 19 results from the provider of Human Capital Integrity℠ technology-based services specialising in background and medical screening. · Revenue increased by 14% to $23.0m (2018: $20.1m) · Gross profit grew by 9% to $12.4m (2018: $11.3m) · Adjusted EBITDA doubled to $0.4m (2018: $0.2m).· Loss before tax flat at $1.4m (2018: $1.4m). · As at 31 December 2019, the Company had increased cash of $1.8m (30 June 2019: $1.1m) ClearStar entered 2020 with its highest ever order book and a healthy pipeline. However, the COVID-19 outbreak has resulted in a significant reduction in volume and a delay to some expected activity due to the widespread hiring freezes and economic downturn. Consequently, revenue for the year-to-date is 16% lower than for the same period in 2019, with the current run rate approximately 50% below the same point last year. Given the evolving nature of the crisis and the uncertainty over its length and severity, it is too early to assess the financial impact that the disruption will have on the full year ending 31 December 2020.
#CLSU ''H2 demand surge anticipated as US reopens'' - Today’s 2019 results were in line with our revised expectations - reporting adjusted EBITDA (post SBPs) of $370k (-$108k LY) on turnover up 14% LFL to £23.0m ($20.1m). Driven by strong top line growth from Medical (+21%, MIS) & Direct (+32%), together climbing 26% to $16.5m (72% of group). ClearStar also traded well up to February, although from mid-March onwards lockdowns began and corporate America shed millions of staff: leading to a loss of >30m jobs nationally. Equally the big 3 diagnostic laboratories (ie Quest, Lab Corp & Abbott) have since prioritised resource on COVID-19. Making it difficult for MIS to obtain capacity for its leading drug & alcohol services. Even if the waters remain choppy for longer than predicted, we estimate ClearStar has sufficient liquidity to weather this transitory storm. Supported by gross cash as at 5th May of $3.8m ($1m net debt), after receiving a 2 year $1.1m loan (1% interest rate) under the Paycheck Protection Program (PPP). These are uncertain times and therefore we have decided to withdraw our forecasts and valuation until there’s greater clarity. Currently the stock is attractively priced for patient risk tolerant investors - trading on a trailing EV/Sales multiple of 0.8x compared to typical industry multiples pre COVID-19 crisis of between 2.5x – 3.5x.The coronavirus will impact 2020 numbers, yet ultimately we believe the group will prosper. - See note here
·Revenue increased by 14% to $23.0 m. ·Loss before tax flat at $1.4 m. ·As at 31 December 2019, the Company had increased cash of $1.8 m.
RNS Number: 1167 E ClearStar, Inc. 26 February 2020 TR-1: S tandard form for notification of major holdings. This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.
Clearstar (CLSU.L) 50p £18.2m The provider of Human Capital Integrity℠ technology-based services specialising in background and medical screening, announces that it has been appointed by a leading facilities management company to provide background screening of service providers entering its healthcare locations. This is ClearStar's first contract in the facilities management sector and the Company expects it to generate a minimum revenue of $0.4m during the roll-out phase this year. Robert Vale, CEO of ClearStar, said: "This is another fantastic customer win for ClearStar, reflecting the continuing upscaling of our client base with the increasing recognition of our brand. It marks a milestone as our first contract in the facilities management industry, which is an area with great growth potential.” #CLSU
#CLSU 'Deeply undervalued high growth stock' - Occasionally even professionals lament about ‘the one that got away’. However investing is a bit like surfing, ‘you don't need to catch all the big waves to still have a great time’. Luckily for investors, the ClearStar ship has not sailed yet, despite the shares (at 49p) trading at a 56% discount to our 115p/share valuation. This unjustified gap between price (ie what you pay) and value (what it is worth) is likely to close at some point. Especially as the firm continues to deliver new business wins, double digit organic growth, improving operating leverage and higher margins. Indeed today, it announced another significant contract win (min $0.4m in 2020). This time with a leading facilities management (FM) group, to provide screening for people entering its 120,000 locations across North America serving numerous industries. Fine, but what about the numbers? Well, we reckon 2019 results were in line with expectations - $300k of adjusted EBITDA (pre SBPs) on $23.0m of revenues - and hence make no change to our forecasts. An estimated 72% of turnover is now derived from CLSU’s two strategic growth engines (ie Medical & Direct), that together expanded by >26% (all organic). Moreover looking ahead, this latest customer endorsement, alongside ongoing pipeline conversion, generates robust visibility, with the company anticipated to be cashflow neutral/positive in 2020, on sales & EBITDA of $26.0m (13.0% LFL) & $1,260k respectively. Add all this up, and we think ClearStar remains a deeply undervalued, high growth stock - priced at a compelling 1x 2020 EV/sales vs 3x for recent M&A activity. - Click here for full note :
RNS Number: 4111 C ClearStar, Inc. 10 February 2020 10 February 2020. This is ClearStar's first contract in the facilities management sector and the Company expects it to generate a minimum revenue of $0.4 m during the roll-out phase this year.. The customer provides facilities management and maintenance to leading brands across North America, with over...
RNS Number: 0682 X ClearStar, Inc. 17 December 2019 17 December 2019. The Company has continued to experience excellent sales momentum and, as a result, expects to report revenue for full year 2019 in line with market expectations at approximately $23 m, representing year-on-year growth of 14%.. Consequently, the Company expects to report adjusted EBITDA for full...
Andrew Hore Quoted #Micro 23 September 2019 #NYR #SHEP #DXSP #ANA #AFRI #KEP #AFHP #RUTH #SOG #FCRM #CLSU #AIQ #LWB #NWOR #CRL #ArBah #stockstowatch #stocksinnews #AIM #NEX #LSE
#CLSU Bob Vale, CEO, and Jennifer Balleza, CFO, discuss the stand out performances of Direct and MIS, and their expectations for the second half.
#CLSU Bob Vale, CEO, and Jennifer Balleza, CFO, discuss the stand out performances of Direct and MIS, and their expectations for the second half.
ClearStar Inc (CLSU.L) Announced, in its interim results for the six months ended 30 June 2019, that its net revenue stood at $11.56 million, compared to $9.89 million in the preceding year. Loss after tax was $0.93 million compared to $0.67 million. The company’s diluted loss per share was 0.03c, compared to 0.02c.
#CLSU - ''Clinically proven to deliver faster growth'' - There are now approx. 57m Americans (source: 2018 Gallop poll) working at least part-time in the gig economy. Here the elderly rely on their domiciliary staff to be both honest and competent carers. Equally Angie’s List users trust that the plumbers, builders and/or electricians they hire, have the necessary insurance and qualifications. Not surprisingly this is a massively complex task, made worse by the largely siloed nature of the records held within each State and county. Enter ClearStar, whose fully automated and mobile-centric background & medical (MIS) screening services are disrupting the sector. So much so that this morning, the firm posted 16.9% LFL revenue growth in H1’19 to $11.6m vs $9.9m H1’18. Split 21.7% Q2 ($6.5m) vs 11.4% Q1 ($5.1m), with Aug ’19 YTD being 18% ahead of LY. The stand-out performers were once again Direct (+49% to $4.2m) and MIS (+25% to $5.0m), which together climbed 36% in H1, and contributed 72% (or $8.3m, excluding divisional overlap) of the group. The latter enjoying strong demand for drug testing, particularly after the gradual legalisation of cannabis for recreational use, and the launch of a new combined substance abuse & alcohol product in Q2. With regards to the numbers, we’ve lifted our FY19 turnover forecast to $23.725m (from $23.0m before), but held the adjusted EBITDA (post SBPs) at $650k (split H1 $187k & $463k H2) mirroring the MIS mix shift (ie lower GP %). Similarly, net debt is anticipated to close Dec’19 at $1.2m (vs £1.0m June & +$934k cash in Dec’18), following the H1 capex ($1.2m), working capital and one-off payments ($464k). While in September, the CLSU extended its $5.0m credit facility ($2.1m drawn-down as at June) with Silicon Valley Bank until Oct’21. Demonstrating the lender’s considerable confidence in the business, and providing sufficient headroom to fund future organic growth. Our 135p/share valuation remains unchanged. - To read the full detailed note, please click here:
·Revenue increased by 17% to $11.6 m. ·Gross profit of $6.3 m. ·Loss before tax of $914 k.
ClearStar, Incorporation (CLSU.L) Announced that it has achieved ISO/IEC 27001:2013 accreditation, which certifies that the company's information security, cybersecurity and privacy protection systems and policies comply with international standards of best practice.
RNS Number: 2711 L ClearStar, Inc. 05 September 2019. ClearStar achieves ISO security accreditation. Information security systems and policies certified as compliant with ISO/IEC 27001: 2013.
ClearStar, a provider of Human Capital Integrity℠ technology-based services specialising in background and medical screening, announces that Barney Quinn, Non-executive Chairman of the Company, has purchased an aggregate of 31,110 ordinary shares of $0.0001 in the Company at an average price of 63.4 pence per Ordinary Share. A seven-time Inc. 5000...
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Company Profile

ClearStar is a technology and service provider to the background check industry, supporting background screening companies, employers and employees with their recruitment and employment application decisions. ClearStar provides mainly employment intelligence to its clients through a suite of IT applications for day-to-day use in their business. Employment intelligence aims to improve business insight to support better recruitment and other decisions affecting employees generally, by increasing the quality, reliabiliy and visibility of information available to management.

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