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ELCO

Eleco Public Limited Company

Technology First-pass screen £101m
550/1000 Overall fit
AI beneficiary 35% 52
Operating leverage 25% 72
Valuation 25% 30
Downside protection 15% 73

First-pass take

Strong SaaS fundamentals: 81% recurring revenue, 89.6% gross margin, 110% net revenue retention, and adjusted EBITDA margin expansion (23.8% → 26.3%). Zero debt, £16.3m net cash. AI is being integrated into products (Asta Vision Plus APIs, Asta GPT) but not yet a primary revenue driver. Organic growth modest at 11% despite acquisitions. No valuation data in filing.

Flags

no-valuation-dataai-feature-not-coreacquisition-heavy-growthorganic-growth-modestvisualization-impairmentmicro-cap