Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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1Spatial CEO, Claire Milverton and CFO, Stuart Ritchie present interim results for the six-month period ended 31 July 2023. The group delivered significant ARR and revenue growth.
Watch the video here: https://www.piworld.co.uk/company-videos/1spatial-spa-h1-2024-results-presentation-october-2023/1Spatial CEO, Claire Milverton and CFO, Stuart Ritchie present interim results for the six-month period ended 31 July 2023. The group delivered significant ARR and revenue growth.
Watch the video here: https://www.piworld.co.uk/company-videos/1spatial-spa-h1-2024-results-presentation-october-2023/
Or listen to the podcast here: https://piworld.podbean.com/e/1spatial-spa-h1-2024-results-presentation-october-2023/
Or listen to the podcast here: https://piworld.podbean.com/e/1spatial-spa-h1-2024-results-presentation-october-2023/
Perfectly argued, Fever, but my gut told me most of this so, at long last, I got out before I read you!
Numbers were ok - nothing earth-shattering. It just doesnt feel that they are making the progress that Milverton's rhetroic suggests. And Mr Market looks like he agrees. Generally I see issues around Europe; sales cycles; inflation ; margins etc....There is a fast-growing business in there somewhere but it is struggling to get out. Thewy need to address:
1. Profit Margins: Investing in broadening their suite of products as part of 3 year growth strategy is the right thing to do. BUT at what point do we actually as s/holders actually own shares in a company that is producing decent profit margins: They barely make double-digit margins - and these figs show a drop of 400 basis points! Notwithstanding investment in sales, that is a huge drop. So what is the long run EBITDA margin expectations for this company? Mid-teens seems very low - I can get that from any number of companies with a much lower risk profile. Claire really needs to start explaining about profitability profile.
2.Cashflow: if they cant drive up margins by selling their software at a decent price they are going to be in real difficulty in an inflationary era. And here we see that cash generation has HALVED over 1H - not a good sign...and attributable to cost of new hires etc.....do we have the right pricing point for our products? Is the sales cycle lengthening or shortening...Lots of issues here
2. Territory Contribution: Europe is clearly a major problem, and has been for a while, and it looks like converting sales is causing real problems. That is absorbing costs & management time to fix. Why is this a recurring issue?
2. ARR for term licences - they talk about the increase BUT the biggest jump was in sales of 3rd party products ie not their own, up 400K an increase of 41%, virtually 2x the increase in their own products. I mean what is happening here?
3. Cost reduction programme - taking out £1m of annualised non-revenue generating expenditure, would suggest to me that (1) this should have been done much much sooner and the financial controls are poor OR (2) they are struggling to drive sales and are having to cut costs accordingly.
Lots of unanswered questions. And I worry that change is coming far too slowly here.
...what to expect and what (if anything!) will it do for the SP?
My hunch is very little. They are not big movers and unless the results are earth-shatteringly good or bad, My guess is not much will change. I have made some cash available in my ISA but only for what I consider unmissable opportunities, so I shall wait and see.
Just by way of example, I did spend some the other day, on topping up my PRM on exciting news.
...and another massive spurt in this SP!
These are softer in a remarkably cheerful market today (probably just the usual hiccup in a bear market) so, trussting my Contrarianism, I have uplifted my holding here by 50%. These are a slow burn but very steady and still under the radar.
Wait I take back my volume comment...67K traded today which is roughly 10 day average volume...so in line. Certainly don't think it's institutional buying but I'll take it.
SP creeping up but no volume...hmmm
...a few agree with me today, but this has a lot further to go.
Under the radr and overlooked in spite of clever and exciting products.
.....shows this is still quietly sought after, even in this pigging market!
...the 3yr and 5yr Charts! ''''''''''''''''''''''if you cannot work out the way this is going, you shouldn't be playing the market!!!
its only a matter of time,directors buying sothey must consider further growth potential
1Spatial CEO, Claire Milverton & CFO, Stuart Ritchie, present Full Year results for the year ended 31 January 2023.
Watch the video here: https://www.piworld.co.uk/company-videos/1spatial-spa-full-year-results-presentation-april-2023/
Listen to the podcast here: https://piworld.podbean.com/e/1spatial-spa-full-year-results-presentation-april-2023/
Running to standstill? Don't agree. Turnover up 10%, after tax profit up 176%. Seems like good progress to me. Still room for improvement though. After tax profit still low relative to turnover mainly due to admin expenses of £14.25m. Continued growth with static or reducing admin costs will hopefully improve this in future.
Operating cashflow up 110% to £5.3m, very acceptable. Still an overall outflow of cash but if we discount the one-off payment of the deferred consideration on acquisition of subsidiary then it's only £324k. Borrowings fallen from £2.4m to £2m but higher interest costs will probably mean servicing costs relatively unchanged going forward. Cash and cash equivalents £5m so they should have the resources to continue to execute their growth plan especially considering the cash now being generated by operations.
More than happy to keep holding here although the rest of the year may be quite bumpy if the world and US economies keep struggling. I'm not here for the short term so not worried by day to day share price movements as long as the company keeps progressing. Looking forward very much to tomorrows investor presentation.
Running to standstill. Don't see this as particularly active enough to drive price very much higher any time soon.
...but no doubt speccies wantd better.
Outside possibility of a nominal dividend, but definitely a gantle upward movement in SP!
end of this month. Looking forward to a build up in the SP. This co is still quite under the radar but is well run, with a desirable service to offer and a growing number of substantial clients Particularly in USA.
looks like that RNS is a slight reduction in position....still significant at 16%. Cannacord have been a holder for a while and not sure they are buyout specialists...
Where do you see that? I read they are not active enough.
Looks to me from today's RNS that there could be a bidder sniffing over the pond/
too many dont understand what is being said analyse the results and its clear the company is moving forward and will continue to do so
Given that the LTIP vesting is driven by performance to January 2024, its not impossible to think that revenue (and hence EBITDA) recognition would be just enough to be okay this year (and that is what todays numbers were - just okay) and some held back and booked for 2024. If I had 650,000 options based on 2024 revenue, EBITDA and share price I would not be in a hurry to have it fall in 2023!
make money by manipulating the market ,mark down the price buy at that price thensell at a higher price,
the fundamentals are good a long term hold for me