The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Outlook
While 2023 presented its share of challenges, Ethernity successfully finalised its UEP as a complete system product. This marks a significant step forward, enabling us to evolve beyond offering just FPGA SoCs and provide comprehensive solutions which all integrate ENET implementation of FPGA SoC, hardware and software application. This shift empowers our customers to achieve faster time-to-market and accelerate revenue generation. Previously, deploying products based on our FPGA SoCs typically took 18 months. With the UEP all integrated system, the time to revenue or deployment from sign-off can be dramatically reduced to just six months. This enhanced efficiency positions Ethernity to capitalize on planned customer wins and drive near-term growth.
By transitioning to a system-based approach, Ethernity unlocks significant value for a broader customer base. Our comprehensive solutions, combining powerful FPGA SoCs with Ethernity's semiconductor expertise and application software, eliminate the need for in-house product development by our customers. This empowers companies without extensive engineering resources to leverage our technology and quickly launch their own solutions. This strategic shift positions Ethernity to strengthen its market position, expand its OEM customer base, and attract new partners who can significantly contribute to our revenue growth.
Based on the scopes of work being discussed with potential new customers, Ethernity expects to secure new contracts for our Carrier Ethernet and PON technology, generating approximately $2.2- $3 million in incremental non-recurring engineering (NRE) revenue in 2024 on top of our established business. This momentum positions us for significant future growth as our OEM partners leverage our solutions to win market share and generate revenue for themselves. We anticipate this will translate into substantial new revenue opportunities for Ethernity in 2025.
David Levi
Chief Executive Officer
19 April 2024
You said it HULL loving it
Outlook
Since the beginning of 2024, the Company appointed a highly experienced and knowledgeable VP Marketing and a talented and professional new CFO. In addition, two External Directors have joined the board, bringing deep know-how in finance, marketing, and strategy.
With a robust technology and IP foundation, a diverse portfolio of products and services, an efficient R&D structure, and recent additions of professional talent, the Company is now better positioned than ever to face the future and capitalize on the growing market opportunities.
Yosi Albagli
Chairman
Ah well I just thought I would bring some balance. Shore have marked up to 0.9p bid and Wins are 0.9p offer, neither are budging as of yet. Lets see what the trades do and the price.
Pwil3150
Filtered we are not political dude
Maybe some of these people are in the economic inactivity group. Collecting benefits whilst also getting paid to spread FUD.
Maybe the Revenue department needs to start looking at some of these financial sites.
Davey if they are your lessons in shares……please never go into teaching.
Lesson number 2, your a full time Diiiicccckkk Hhhhheeeaaadd
I see the results as positive, not amazing , but good. However , having experienced polymetal and especially evraz. I am more concerned about the crap in the middle East.
And don’t listen to planks like Davey.
I do tend to agree with the EBITA comment…
Great news , looks like some pi sold out , my average is very high .
"so little going on with their lives"....I'm a full time trader/investor. I read the 7am RNS's and share my views especially in a sea of one sided views when mine is different.
Lesson no1...do not fall in love with any stock now
Lesson no 1..do not fall in love with that EBITDA rubbish :-))
All metrics ⬆️
Okay they aren’t up into huge profit but they are heading the correct way for a turnaround surely?
The final results for Ethernity Networks Ltd for the year ended December 31, 2023, seem positive overall. Here are some highlights:
1. **Revenue Growth**: The company experienced a 29% growth in revenue compared to 2022, reaching $3.8 million in FY 2023.
2. **Cash Collections**: Cash collections from customers amounted to $4.9 million in FY 2023.
3. **Gross Profit**: Gross profit increased by 46% to $2.3 million in 2023.
4. **Operating Loss Reduction**: The operating loss decreased by 27% from $8.7 million in 2022 to $5.3 million in 2023.
5. **EBITDA Improvement**: The EBITDA loss for 2023 decreased by 47% to $3.9 million compared to $7.3 million in 2022. Additionally, the EBITDA loss for H2 2023 decreased by 74% to $0.8 million.
6. **Cash Position**: Cash at the end of December 2023 was $2 million, showing an increase from $0.7 million at the end of December 2022.
7. **Strategic Measures**: The company implemented strategic measures including expense cuts and restructuring, leading to improved results in the second half of the year.
8. **Outlook**: The company's CEO expressed optimism about securing new contracts and substantial future growth opportunities, particularly in Carrier Ethernet and PON technology, with potential revenue increases expected in 2024 and beyond.
The Chairman also noted improvements and growth despite challenges faced earlier in the year, highlighting the company's resilience and strategic actions.
Overall, the results suggest positive momentum and indicate that the company is on track for future growth and expansion.
It's crazy how some people have so little going on in their life ,that they spend their day commenting negativly on things they have no interest or investment in. These boards really are flooded with horrible low life freaks of nature who take pleasure in others downfall. Horrible horrible KUnnnttttssss
You either see the glass half full or half empty. I see it as half full, but of course it’s your money, your call.
Significant increase in profit & growth and reduction in ebitda loss, most companies would give their front teeth for changes like that year on year. Davey as you and slacker are the investment gurus what’s so bad about it?
I read these results and thought jeez these are awful and thought why do people love this stock. Then I thought I bet
when I look in the LSE it will be brilliant results by everybody.
Was not disappointed
👎 I dont think so, need the new contracts!
Good
Hopeful
Of a god day
Great RNS, things looking up here. Well done guys for holding.
If that’s not shareholders rewards, I don’t know what is.
So pleasing to read.
Pushing forward and getting this out to the market so soon. ENET could have held off until June but realise the significance of their work.
Well done David Levi and his team to get this RNS out, NOW on APRIL 19th 2024.
Doubters will still doubt, as is their way.
These figures show that the TSP process gave a breathing space yet a place for action.
The BOD will take the company to new levels of increased MCAP.
Yes my cup is half glass full , without doubt.