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HI MIKe,
Do they mean the Radiological Nuclear (RN) Detection Framework Agreement when they mention tender for 100m or some other.
This tender on Bidstas was published on 21 Dec 2023 for Delivery
01 Jun 2024 to 31 May 2028
Deadline
31 Jan 2024 .
https://bidstats.uk/tenders/2023/W51/813105477
Dear me Mike.
You really do need to read what you have written.
I have stated absolute facts, stating an unweighted pipeline that is open to a win rate and time execution (all of which is outside the current year time period I posted about) as a counter argument isn't a fact.
you don't half talk some tosh skid,
did you bother to listen to the company webcast ...i guess not..as you couldn't be ****d last time for some reason.
so you aren't aware of the 100 million live tenders out for d3/5 handheld detectors. i'd have thought if someone was going to endless moan about the company and its management it might be wise to have all the facts.
Mrlofer.
It's interesting that the chairman bought at a much higher level when he had just joined. Now he's in and knows basu and the company he not ?
We are outside a restricted period so why not ?
Whilst there are some positive signs in the numbers there are still a lot of red flags (the simply ridiculous stock levels, the aggressive accounting on intangibles etc).
Top line growth (and the mix to r&d from product) in H1 not where it should be to scale the p&l even on the lower cost base. H2 must be hit, in the past we have had basu stating h2 was in the bag only to come up really short with excuses - we can then look at the year in totality (and with the detailed notes in the annual report).
Jury's out.
Just a reminder,the big talk up from Basu back in 2016/2017 produced an sp in the 30-40p range. The sp in that context "remains in the gutter" when below 10p.. Promises and boasts from Kromek now are therefore treated with little trust by those of us who in the past accepted the "claims" coming out of Durham.
If timed well with a positive RNS at 10p then 25p will arrive quickly
Another good day for kmk. The leader of the armchair saddos on advfn is not moaning that directors have not bought….sometimes there are perfectly good reasons all imo dyor …..
Next stop 10-11p
The biggest buy signal has to be the guff written on the advfn bb, a full deck of armchair saddos who believe the end is nigh.
Concludes with -
"Longer-term view of CZT market. We continue to acknowledge the current low penetration rate of CZT sensors into the Advanced Imaging space, something we believe will change considerably over the next 2-5 years. We have reviewed our longer-term expectations for this market and built a new DCF which leads to a market cap valuation of over £300m, or greater than 50p per share. On that basis we increased our target price from 25p to 28p per share. We note that Canon acquired Redlen Technologies, another previously independent supplier of CZT, for $325m in 2021, at a time when the future demand for CZT sensors was less clear."
CZT is going to be utilised by diagnostic imaging OEMs for some considerable years, the smallish recent CZT imaging going Into prototypes is my guess for testing, with strong likelihood of turning into multi-year supply contacts, 7 years seems to be the industry norm.
Broker 30th Jan
In-line revenue growth and strong OpEx control Kromek reported interim results with revenues up 5% to £7.1m, adjusted EBITDA loss of ca. £0.1m, period-end gross cash of £3.7m and net debt of £5.2m. The company reiterated its view that fiscal 2024E revenues are expected to grow in-line with market expectations, which we see at around 20%, which implies a sharp pick-up in the H2 result (to +32%). Although this sounds a tough target it needs to be remembered that, because of the recurring contract revenue nature of the business, revenue forecasts are predictable – per the release management has good visibility on 84% of the 2024E forecast, with the remaining 16% to come from the known pipeline of opportunities. Adjusted EBITDA saw a dramatic improvement over H1 2023 at a loss of £0.1m, a function of the improving gross margin and significant control of other operating costs, which reduced from £8.0m to £6.4m. We slightly increase our 2024E, adjusted EBITDA moving from £0.9m to £1.2m, and more materially in 2025E, from £1.7m to £3.1m, driven by our belief that the company will continue to stay on top of operating costs. We see 2024E year-end gross cash at £3.5m and net debt at £5.4m (prior to £2.6m conversion of CLN). Having reviewed the longerterm opportunities for CZT in the Advanced Imaging market we increase our price target from 25p to 28p.
Hold on to hats
Starting with the positives the EBITDA number hit the mark.
Finally, costs are a focus and being managed!
New contracts in the period provide good momentum.
Relatively disappointed with the revenue increase.
Cash burn still impacting the outlook and further dilution is on the cards if we need cash under the Polymer N2 agreement.
Not the car crash of previous results and Mr Market seems relatively happy.
Truth.
Yes. A lot of AIM companies realising they cannot keep on coming back to the market every six months when they are simply not performing.
Stock and debtors still far too high, but % are better on increased revenue. Hopefully stock will decrease as it is used for income.
H2, apart from being backended, needed far far more commentary.
Real need to provide backlog and backlog movement backed by purchase orders rather than expectation.
Certainly feels like the penny has dropped and it’s time to generate positive cashflow-good news
Results highlight the emergence of demand for Kromek’s Advanced Imaging and CBRN detection, evidenced by contract wins and collaboration agreement momentum. Supported by strong financial discipline and persistent geopolitical risk, our fair value remains at 26p/ share.
For the six months to 31 October 2023, Kromek reported revenue of £7.1m, +5%YoY, gross profit of £3.9m, +41%, a 54.2% margin compared to 40.4% a year earlier, and an (adj.) EBITDA loss of £0.1m (H1 23: £(2.7)m loss). The loss before tax was £(3.5)m, reduced from £(5.7)m a year earlier. As of October 2023 the cash position was £3.7m, with net debt at £5.2m (H1 23: 8.3m). Significant cost controls are also evident, with administration and distribution costs reduced from £7.6m in H1 23 to £6.2m (-20%).
Link to full report: https://www.equitydevelopment.co.uk/research/kromek-group-interim-results-h1-24-profitability-up-costs-reduced
Correct in every detail skid35. Wonder if mike33 is backing his claims ? Wonder also why Ourknob Basu and his fellow Directors are not buying any shares on the market ?
Important set of results.
Forget the general fluff on strategy - kmk have to show through the financials they have operational control of the business.
- Good and expanding gross margins
- Control of flat operating costs for leverage on higher revenues
- No stock / debtors write offs
- Stock and debtor turns down
- from the above a clear cash focus
Always thought kmk and basu considers the financials and operational execution a bit of an inconvenience, preferring just to strategise about the future and complain to the Times how downtrodden he is.
Ridiculous spread of over 15% if your thinking of buying in now, micke33.
And???
Https://www.marsbioimaging.com/spectral-ct/#:~:text=Spectral%20photon%2Dcounting%20CT%20measures,and%20determine%20the%20amount%20present.
Mars a tier 2 diagnostic CT manufacturer previously mentioned by Kmk as being engaged with, talking about CZT Photon counting CT
It's very likely we will hear about other tier 2 OEMs contracting with Kmk, some of them are already I think such as Fujifilm but under Non disclosure agreements.
"Spectral photon-counting CT measures how specific x-ray wavelengths are attenuated, which is used to determine material composition. For example, if iodinated contrast is administered to the patient, spectral CT can distinguish iodine from body tissues (bone, fat) and determine the amount present.
The combination of a color spectrum with extremely high spatial resolution means spectral photon-counting CT contributes significantly more information compared to conventional x-ray imaging. We aim to revolutionize medical imaging and significantly improve healthcare worldwide. Spectral CT, bringing color to x-rays, is analogous to that of the complex technological innovations that enabled the move from black/white television to color television. "
Invested here yet, mike33?
Kromek Group plc (AIM: KMK), a leading developer of radiation and bio-detection technology solutions for the advanced imaging and CBRN detection segments, gives notice that it will be announcing its interim results for the six months ended 31 October 2023 on Tuesday 30 January 2024.
Dr Arnab Basu, Chief Executive Officer, and Paul Farquhar, Chief Financial Officer, will be hosting a presentation for investors at 6pm GMT on Wednesday 31 January 2024 via webinar.