Ian and George wish ChatGPT a Happy Birthday before cantering through recent UK small tech updates.

ActiveOps – going well but could short term brokers and metric obsessed fund managers stop this little gem from reaching its full potential

Cerillion – a pause for breath year, still well positioned, cash generative with excellent margins

GBG – it is going to be hard work but the management look to be up to the challenge

Then, looking to Autodesk, George considers changing charging / accounting models when faced with AI and difficult wider economics – doesn’t the market see right through this?

George and Ian catch up on the news and events affecting UK-listed tech companies.

George and Ian consider Sage’s recent full-year results and where it can go from here. Its cloud-based US acquisition Intacct, has shown what can be done, but is Sage condemned to a life in the slow lane by its parochial home market’s love of yield and misunderstanding of growth.

They also ponder the challenges that the new CEO faces at Tracsis. Not least of which, in a similar theme to Sage, is its technical debt. Although it’s worth remembering its customer base, which might be more suited to a legacy approach after all.

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George and Ian catch up on the news and events affecting UK-listed tech companies.

Rightmove’s share price reaction to management’s decision to accelerate its investment in AI suggests that the market is not comfortable with AI and is in bear case hunt mode. Looking at Rightmove, Trainline, Autotrader et al. it is clear that AI is going to make a difference, but it is not changing that many business models.

We consider Kainos’ results and George talks us through how the business has evolved before contemplating whether there will be or, perhaps can be, a budget flush coming as those with IT budgets use it or lose it in the final months of the year.

We look forward to Sage’s forthcoming results by looking at Xero’s just gone and consider how business models and routes to market have evolved, then look to the potential float of Visma next year.

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