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On another note, I have a habit of focussing on the track inspection service. But of course, the lidar product itself is a big deal in its own right
I wish :D
They mentioned it on their LinkedIn page at the start of the month.
I think stuff like this would be best shared with shareholders first but eh...
You have esp.
A LIDAR announcement apparently. Could be a new product, or just a vanity announcement? Curious to know what it is either way.
Don't qualify on my JD :)
You should apply and provide some robust questioning.
Wow, that was not impressive. My advise for Nick and key investors, change the Chair. Nick needs a strong, competent and experienced tech chair, able to mentor a raw first time CEO.
Lots of great questions Nick -- LOL
A brief look through the numbers, no ARR and very poor comparative data. Note 2 on significant accounting policies says it all........company has taken advantage of all disclosure exemptions availablr
Another deal and a contract so positive direction. The performance of the asset managers who bought 3% earlier this month seems good over the last few years so nice to see that angle added. Roll on.
I don’t imagine share movements to be an inside job, more like ‘dumb’ money coming from funds looking for diversification etc. It’s all about the tech and ROI for clients. Too little info for a public company especially in tech. Always a red flag for me. However, I get the need to massage the highest valuation when in the funding phase.
Hi Pherm,
Yes I'm curious as well to the monetary value of the contract. Looking at this in balance there was a definite surge of inside buying just before the contract announcement (or agreement), but a couple of days later a definite drop, so I'm hoping this isn't reflective of insiders knowing the value itself is minimal.
Hopefully now that MNO tech has been approved for use by national rail, orders will start coming in and this will be reflected in accounts.
I await the full accounts with interest, any disclosure of ARR at year end? Will they share revenues by sector ie Rail, other and discontinued business etc. No contract announcement either 12m or pilot ever give details. Compare other tech companies of similar size that are public, those performing disclose numbers to prove it. Leopards and spots.
Wonder what Pherm has to say??
Yes, brilliant result.
If Network Rail see the value, one would hope the rest of the international rail industry will start jumping on board too.
Seem to be getting more traction with the rail network.
https://www.londonstockexchange.com/news-article/MNO/network-rail-approves-cordel-technology/15125081
Amazing news.
And HS1 too.
Large buy yesterday.
Wonder how this will turn out by the end of the month. Could be another contract on the cards.
Good to hear more positive news. Ducks aligning :)
R
The only small SAAS investments I have are off market in privately held companies with ARR of between £0.3 & £1m. I have found it very difficult to make an investment return (I am sure you can get lucky and make significant short gain profits) from small listed tech companies. On balance they are valued at significantly higher prices. The very best SAAS entities (ie high growth with a great product/mkt fit) go for PE investment at up to 10x ARR valuation. Most PE investments into growth SAAS entities are in the 5 to 7x ARR range. Compare that with MNO which must be valued at 20+ times ARR with no visibility etc.
Nice little contract win, all adds up and hopefully increases awareness and word of mouth in the industry
Hi phermic,
On balance it's good to hear your views. I do agree the transparency has been a bit lacklustre.
Like G10 I'm continuing to hold as I now expect additional contract wins to start gathering pace. If not by year's end and without, perhaps I'll move on.
Out of interest, which similar SaaS to companies are you currently holding where you have more faith?
G10. I have no problem with you holding. Just pointing out the continuing lack of visibility by this board which is purposeful. I will move on when they report appropriately. It would be nice to know a little more about the 'contract wins'. I assume we are not counting pilots and continuing extensions. How about the breakdown between traditional Drone Surveying contracts and the more sexy track mapping work. Details on headcount, product roadmap and most important of all the current value of MRR/ARR. Like other SAAS companies!
You’ve had a downer in MNO for a couple of years now. Sometimes it’s easier to move on. There could be greater clarity and costs are up. But there is also specific contract wins and extensions identified so I’ll continue to hold
When will they give visibility of recurring revenue? Still can not see the investment in Dev etc despite Exec Chairs statement on increasing investment. It looks like the additional expenses are driven from the Sales hires, no problem with that but the solution has to perform to customers satisfaction :). Perhaps they are capitalising the investment in Dev. As always very poor visibility from a board that has a strong record of opaque reporting.