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I've just re-read the RNS from the 10th December 2020 and it's quite amazing the amount of positive information in there, from new and renewed contracts to how they monitize their product. Some highlights:
"In total, the Company has signed five new contracts, four expansions and eight renewals in H2 2020." (Not to mention more new contracts and renewals this year).
"the Company is pleased to confirm that it has achieved operational profitability in the last quarter of 2020 and increased revenues in H2 2020 when compared to H1 2020"
"the Board envisages receiving incremental revenues from these customers and expects to report substantial year-on-year revenue growth in FY 2021"
eMusic live - "In 2021, the Company plans to stream hundreds of shows and as a result expects eMusic Live to contribute significant millions to Company revenues".
"Made-for-TV music entertainment provider ROXI, backed by Robbie Williams and Kylie Minogue and now pre-loaded on Sky Q set-top boxes, renewed its partnership with 7digital to deliver shared interactive music entertainment experiences to millions of Smart TVs and satellite set-top boxes across Europe."
The future does look exciting!
Hi leaden
Www.7digital.com
Rns 10th Dec 2020
From the horses mouth
Gl
Great post SolomonD. As you say , 7dig are profitable and have reduced expenses while massively increasing there client base, and then you have other companies valued way more, which is so annoying. We will see the true value of 7dig very soon and hopefully 250 to 300 million mcap. Keep up your informative posting , we have had a bit of a bashing lately by none believers.
I think it's just the possible pool of investors who can buy 7Dig at the moment is quite small.
For IIs it's difficult to justify a purchase before meaningful figures are released.
For PI's, some who look at these types of companies are already long. Other PI's are waiting for more guidance from a broker note or company presentation.
Herein lies the temporary buying opportunity.
Lots of shares go nowhere for a time and then say 10 bag within a year or two.
How could you know they turned a profit in Q4 2020? I must have missed the RNS?
Mirriad revenue is up 91%
Burn and loss are down
If you take away any company's cash they will probably go bankrupt
7Digital were apparently operationally profitable in Q4 of 2020 for the first time in about 15 years.
and most importantly Mirriad appear to have released their 2020 financials
No emotions here, just facts and that is what is impacting the sp.
Mirriad Comparison
Not a direct competitor to 7Dig exactly, however, they are a tech company who operate in the music industry with a SAAS model..so there are many similarities. Mirriad – Digital product placement advertising company. They have just released their 2020 results.
Market Cap = £145 million …Has touched £200 million this year..!
It had revenues of £2million in 2020, with losses of £9 million!!!
Admittedly they have heaps of cash in the bank to expand their product, but they are miles behind in terms of 7Dig in that respect. Mirriad's cash burn rate is off the scale, losing money hand over fist....don't have a clear path to profitability, yet they are valued 5x 7Digital despite all of this. If you take away their cash (raised through dilution) then they would be ceasing operation. Bankrupt. kaput.
7Dig are operationally profitable, have a highly productized offering, have profit margins close to 80% for any new business signed....have £cash if need be...signing deals in massive markets...I really don't understand the negativity (apart from the SP, which of course is disappointing). The fundamentals are exceptional.
GLA
Financial overview
· 2020 revenue up 91% to £2.18m (2019: £1.14m)
· Operating loss reduced by 25% to £9.09m (2019: £12.17m)
· Cash consumption down 27% to £8.06m (2019: £11.01m)
· Net assets at 31 December 2020 up 84% £35.3m (2019: £19.2m)
· Cash and cash equivalents at 31 December 2020 up 85% to £35.4m (2019: £19.1 million)