I’m not sure about you, but these past few months my social calendar has been FULL. 

The lifting of lockdowns and the easing of restrictions meant that Friday night margaritas were back on, as were Saturday brunch sessions. My cup is full, and I’m loving the unrestricted access to my favourite humans and Melbourne’s many fantastic venues. 

One of the many companies enjoying the return to normalcy is MSL Solutions (ASX: MSL). The software tech company services over 8,000 venues worldwide with their integrated POS systems and mobile apps designed to enhance the customer experience at venues including cafes, restaurants and stadiums. 

Their three key operating segments are POS, Golf and Digital. 

The Company’s fully integrated POS systems, of which there are over 37,000 terminals in use in over 28 countries, boast over 100 software integrations. The backbone of the business, the POS operations segment saw over $7 billion in annual transaction value processed. 

MSL’s specific interest in golf has translated into specific golf management software which is available for use on a subscription basis. 11.3 million rounds of golf have been played with Golf Link in FY21. 

Digital is the newest division of the business, putting mobile applications into the hands of the consumer. Apps like OrderAway (MSL’s in-house developed self service ordering solution) and Doshii operate on a fee per transaction basis and have garnered $0.6m in revenue for H1FY22 from over 81,000 unique orders. 

The digital segment has been boosted with the recent acquisition of ordering software company OrderMate. The OrderMate acquisition added more than 2,400 hospitality venues to MSL’s network and continues to generate strong digital revenues from payment providers and third party apps with new deals signed for UberEats, Deliveroo, Doordash, Doshii, HungryHungry and Tyro. 

With a focus on cash and building a sustainable EBITDA, MSL has rounded out the first half of the year with an EBITDA of $2.2 million, three times that of the prior corresponding quarter, and a cash balance of $7.8 million. 

The first half of the year also saw a marked increase in revenue of 45% to $16.9 million, inclusive of a 29% increase in organic revenue. 

MSL has been busy setting themselves up for another successful half, leveraging the return to venues with a nice backlog of contracts to be booked in 2HFY22 in both the UK and Australia. 

The Company’s focus going forward will be to increase their large venue pipeline and expand further into overseas markets. Continued product development and integration capability is high on the agenda to maximise revenue opportunities. 

Unsurprisingly the global addressable market for POS systems is expected to hit $21 billion. The smart stadium market is also expected to grow at a compound annual growth rate of 20.9% to 2025 which is convenient considering MSL’s position to support the 2032 Brisbane Olympics.