CV1: Putting The Competition In Checkmate
CV Check (CV1) provides near instant, low-cost, online police checks for employees and businesses. The police check market is worth A$167 million p.a. in Australia, and has been growing at 5.9%. Offering a cheaper, quicker service, the company has been rapidly taking business from incumbents who can take a week to print and post a paper form at a higher cost. CV1’s market share has increased from 0.3% to 3.7% in just over a year, and there is no sign of this stopping. You may have seen the CV Check adverts on the sides of public vehicles in the CBD in recent months. You can expect more of it, as it has supported a strong growth trajectory. The company had seen eight consecutive quarters of revenue growth, and guidance is for this to continue. The Australian market is wide open for CV Check, and we believe there is an additional opportunity for international expansion in time. We value the company at A$0.68 on a FY18 future EV/EBITDA basis, and you can read the full Canaccord Colts report here: (VIEW LINK)
Canaccord Colts provide coverage of a select group of early-stage, ASX-listed companies that our research team believes have exciting growth trajectories.
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