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Margins
The gross margin percentage increased to 61.9% in 2023 from 54.4 % in 2022 reflecting an increase of 7.5 percentage points which is mainly attributed to the increased licensing revenues which carry a 100% profit margin.
What makes AIM so good is all the paid idiots trying to rip off as many people as possible. So much rubbish on here today
Year in review.
- Achieved about 40% of their minimum revenue they effectively guaranteed at the start of the year.
- Complete failure to plan both revenue and balance sheet.
- Moved from multi million backlog to effectively zero with all post ipo product contracts either cancelled or uncertain.
- Massive dilution with share issue, including directors using shareholders equity to prevent Bergen taking action against directors.
- Remaining institutional shareholder, miton, finally loses patience after backing every raise and sells out. Shareholder base now traders.
- Private shareholders have to take control of the AGM, chairman confirms he doesn't understand the disaster Bergen deal which he signed off.
- Continues the disastrous performance since ipo.
Yes - all retrospective.
Now 30% through 2024 and no new contracts, but as usual lot of promises. Share price based on the assumption the BOD and SLT will continue to perform very, very poorly and not execute.
Two interesting elements of the report. A side swipe at MR that they now have a "professional" cfo. The number of board meetings.
Seem to me that they have 3 months max to sign a new contract bringing in some revenue otherwise there will have to be a further shareholder dilution
Ethernity Networks Ltd (AIM: ENET.L; OTCMKTS: ENETF), a leading supplier of data processing semiconductor technology for networking appliances, today announces its audited results for the year ended 31 December 2023.
Highlights
路 FY 2023 revenue of $3.8 million represents 29% growth vs. 2022 revenues (2022: $2.9 million).
路 FY 2023 cash collections from customers amounted to $4.9 million.
路 Gross profit increased by 46% to $2.3 million (2022: $1.6 million).
路 Operating loss decreased from $8.7 million in 2022 to $5.3 million in 2023 reflecting a decrease of 27%.
路 EBITDA loss for 2023 decreased by 47% to $3.9 million (2022: $7.3 million).
路 EBITDA loss for H2 2023 decreased by 74% to $0.8 million from $3.1 million in H1 2023.
路 Net cash funds raised during the year amounted to $3.6 million.
路 Cash at 31 December 2023 of $2 million (31 December 2022: $0.7 million)
David Levi, Chief Executive, said "During this past year, we achieved significant growth in revenue and gross margin, with a major turnaround in the second half. This success came despite facing headwinds from the global economic climate. 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, 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".
Sorry I meant .2p incoming
Nobody seems to be talking about this huge deficit of theirs. It is clearly in the rns for all to see.
NOTE 2 - GOING CONCERN
As of December 31, 2023 the Company has an accumulated deficit of $42.8 million and during the year ended December 31, 2023, the Company incurred a net comprehensive loss of $6.4 million (2022: $8 million) and negative cash flows from operating activities of $1.5 million (2022: $7.5 million). The financial statements have been prepared assuming that the Company will continue as a going concern. Under this assumption, an entity is ordinarily viewed as continuing in business for the foreseeable future unless management intends or has no realistic alternative other than to liquidate the entity or to stop trading for at least, but not limited to, 12 months from the reporting date.
Just be careful folks. Impending war in the Middle East will weigh heavily on this share imo.
It was me.
Skid, thanks for your reply at 12.34 today and apologies for my late reply, as I have been out all afternoon.
Having to enter the TSP process late last year, would seem to confirm that the accounts up to that period will not be good, so I agree load it with as many write downs as possible and move on.
In relation to the coming year, we have seen a cut in running costs, two new members of staff with very good CV鈥檚 and the hint of new contracts to come. So, I believe we are beginning to move in the right direction.
I would like to see the accounts published on Gdiday evening of this week, leaving a new week ahead for contract news.
Forever hopeful lol.
Good luck to you and all holders.
sandgrounded
Posted in: ENET
Posts: 3,896
Price: 0.875
No Opinion
RE: Closed Period17 Apr 2024 10:24
The end of year accounts won鈥檛 be pretty, for obvious reasons.
It is the update going forward which will count.
When the final results come out, don鈥檛 listen to the nay sayers about the past. Concentrate on the future, which will hopefully be explained in the next few weeks.
I am happy to say the accounts were better than I accepted and look forward to the coming weeks with keen anticipation.
Good luck to all holders.
Trade value 0.99 volume 90 :-) ;-)
Then boom
That said earlier in the week the results "won't be pretty" ?
Full ask paid 1.10 GLA
Considering the company was under a TSP back end of last year and supposedly on its backside those figures are insanely positive
Boon time
Great future
Will we see some director buys now that the results have been released? I'd like to see the new directors with some skin in the game!
Looking healty balance sheet and order in pipeline should moving in North day by day...wait and passion,no need to sell in panic:)
2p here we come
They can have mine for;2.38!!
Mm want shares here
But will take 2.5M from me at 0.9755p.
Available to buy
This is the same comment made by your wife
Let鈥檚 be fair now it was always the contracts that this should rise on
These could have been a whole lot worse
Time will tell
Damp squib
'A situation or event which is much less impressive than expected'.
No sellers we move up now