RE: fundamentals25 Jan 2022 11:48
Almost trading at cash position, yes.
Drop way overdone, but overall, 2021 performance is truly shocking.
Good points:
- Very strong cash position.
- Semi Decent 2022 outlook with hopes of sales boosts from next covid variant.
- Shift away from covid revenues.
- Rapid development of private testing sales and international sales.
Bad points:
- Failed on their revenue guidance (Was at £104m at some point in summer (£100m private + £4m DHSC), then quietly downgraded to £100m, then to £97m to come in at £95m at year end ffs).
- Failed to boost sales this winter when competitors were reporting huge upside. How and Why?
- Technically, earnings for the year of £7m. (£36m ebitda before exceptional £29m DHSC stock write-down).
- DHSC owing us £70m (sales + stock write-down) or at least £41m sales. Why not pursuing the claim?
Basically, almost wort case scenario for 2021. **** poor performance with no explanations about why it had to be so bad.
£2 per share is a joke, but £5 ain't looking probable any more, and £4 would be very optimistic. Mid £3s is a more realistic estimate now, which is an exceptional management f.ck up.