Member Info for Brightstone

Good sales in the first week for Sand but they need to fix the bugs. Reviews are getting worse with the overall rating having dropped from 60% to 55% now. About 50% of new reviews over the last day have been negative.

Outside the top 20 globally now, having been 4th last week.

Good to see it get released.

It still has major server issues though meaning the overall rating on steam is 'Mixed' with 40% of reviews being negative. I'm not sure how many of the initial purchases will want refunds under the steam refund policy.

I think they should have delayed more and fixed the issues before launch. The poor reviews are going to put off a lot of people who had the game on their wishlist.

Why is cash due to drop to a low point over the summer when Sand is due to be released shortly? That doesn't make sense. Further delay to launch?

Server issues again in the Sand playtest apparently. This is what led to the release being delayed after the previous playtest.

The game is now being released as early access rather than a finished 1.0 launch.

They also included a bad trading update lower down in the rns.

the Group delivered total unaudited revenue of £8.6 million (FY24: £12.0 million), with an unaudited operating loss of £0.6 million (FY24: operating profit of £0.3 million).

Ouch. I wasn't expected this. Profit warning and slowdown of new site openings.

•Given the slower than expected Boom B2C performance over the key festive period which has continued into January, the Board now expects FY26 revenue and EBITDA to be below current market estimates with the Board expecting FY26 pre-IFRS16 adjusted EBITDA of between £5.0m and £6.0m.

•Whilst the long-term growth opportunity remains highly attractive, due to challenging market conditions impacting LFL growth and cost inflation, the Board has taken the prudent view to moderate the pace of new site openings in the near term. FY27 is also therefore expected to be a year of consolidation, with remaining uncertainty driven by market conditions

They need to start converting the pipeline. They have had a big pipeline for years and haven't been able to convert it.

I think the 2025 revenues will be down substantially on 2024 and the 2025 pre-tax loss will be bigger than in 2024. They should just get the figures out rather than have this continual fall.

Last year they gave an update straight after year end on 4 Dec 2024. That was because the numbers were good.

I think the numbers won't be good this time and will be significantly down on 2024.

Unless there is significant contract news at the same time I think the share price could take a big hit. It may take one even with contract news.

I think they must be wanting a new contract to announce with the 2025 trading update.

With the end of life of one of the Pest Control products I think revenue in the electronics division will be substantially lower in H2 2025 than H2 2024.

The only new Fire contracts announced in H2 2025 were the £0.45m announced in August. Unless there were a lot of unannounced smaller contracts I think Fire revenue in H2 2025 could be substantially lower then the £1.5m in H2 2024.

It seems good progress is being made in the Ag Tech division but I think overall revenues for the company in 2025 could be substantially lower than 2024.

Those are very disappointing growth numbers.

$13.1M Q3 net revenue vs $12.8m Q2.

Justin thought they would need to raise at least £5m and suggesting waiting until after the fundraise.

Good news.

The PFP pipeline had increased by £4m in just the last month. Its is now £28m.

There could be some good Fire sales next year but the H2 figures are going to be ugly.

Both Fire and Electronics sales will be down substantially.

The last announced Fire contract completed in H1.

Mixed bag.

Disappointing revenue growth and cash has gone down since the end of Q1.

'In addition, the Board expects that in Q4 2025 the Enlarged Group's annualised run rate will be revenue of approximately £17.0 million and adjusted EBITDA of approximately £1.0 million.'

Run rate of £17m revenue and £1m EBITDA in Q4. That's just 4 months away.

The Second Admission is just the £0.26m consideration payable in shares for the acquisition. It was all set out in the first RNS this morning. It is only about 3.5m shares (at 7.5p) taking the total share count from 116.4m after the First Admission to about 120m after the Second Admission.

Looks very cheap.

A very good deal fo Mirriad.

Why the drop?

There have been some trades on other stocks on jpjenkins in the past week.

Which broker are people using to place trades on jpjenkins? I am keen to buy some more Sondrel.

Have there been any trades on JP Jenkins yet?

How do you buy?

I hold some. Will this bulletin board remain? We need to keep discussing progress.