GlobalSCAPE is a ~$90 million market cap company (assuming all outstanding options are exercised) operating in the managed file transfer (MFT) software space. The company has a number of exceptional qualities, including a high margin, recurring revenue maintenance and support stream, a strong balance sheet, a history of exceptional growth, and sustainably high margins. Despite all this, there are some uncertainties relative to the longer term competitive positioning of the company. This, combined with recent accounting issues that are still unfolding, provide some uncertainty to the situation. Nevertheless, I believe that an adequate margin of safety is currently provided given the current FCF yield on EV of ~11%.

Members, log in below to access the restricted content.

Not a member?

Thank you for your interest.  Please note that MOI Global is closed to new members at this time. If you would like to join the waiting list, complete the following form:

The content of this website is not an offer to sell or the solicitation of an offer to buy any security. The content is distributed for informational purposes only and should not be construed as investment advice or a recommendation to sell or buy any security or other investment, or undertake any investment strategy. There are no warranties, expressed or implied, as to the accuracy, completeness, or results obtained from any information set forth on this website. BeyondProxy’s officers, directors, employees, and/or contributing authors may have positions in and may, from time to time, make purchases or sales of the securities or other investments discussed or evaluated herein.