RE: Busy trading day23 Mar 2026 11:57
We already know roughly what the results are from the January trading update. There should be no surprises here.
What everything will hinge on is this point forward. Why no news flow on the AZ/Unilever projects, why has only ~£200k been converted from a £3.1m pipeline in FY26Q3, what are the latest licensing numbers.
The SP will only drop if there's any rowing back on the cash to June 2027 statement, repeated on several occasions. Plus the statement that the financial performance 'gives the Board confidence that full year revenue will materially exceed the prior year.'
If they have do have to backtrack on these statements less than three months from when they were made, that would be a huge red flag.
The much vaunted 'inflection point' seems further away than ever.