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Again, a very different business to where it was then. Yes, lots of fluffy stats then on engagements and % of market, and to a degree now too, with US partnerships. The China exit and US pivot explains the revs comp you mention and a large reason for the current share price dilution / shares issuance journey is response - it's hard to truly understand how this all unfolded. We can be cynical or not. Agree that a clearer picture on remuneration structure / current holding would be good for us to see, but a CEO getting paid is hardly cause for rebellion. But all these questions / concerns will have been put to them by M&G, Rathbones/Investec, Odey AM (b4 bust) and they seem satisfied for the time being with nobody running for the exit. They will have have to given them better reassurances / insight into revs and breakeven points. While not the most compelling reason to remain invested, it does matter for the time being at least. Getting taken out from here has real legs. The knee-jerk attempt a year ago to find a buyer was far too short a window to find a serious prospective buyer, and another poor step by mgnt most likely. Agree, you'd wonder why it hasn't happened yet, but MIRI / VPP are still flying under the radar and DD by massive corps takes time.
I guess it is to be expected that AIM investors are in for a quick buck and on to the next one, and the next move in share price HAS to be meaningfully up, but if ppl can't handle their investments being down 50+% then maybe they shouldn't be investing in AIM stocks in the first place. While the latest placing price was a completely crock of $hit, if you are a LT investor, and not a retail bandito, than raising cash or waiting for clients to onboard and scale, while unwanted, is all jst short-term noise, as long as the LT prospects remain in tact - which they do for now. We can all throw around opinions on unweighted pipelines, guesstimates of breakeven dates in 25, H2 sales > H1, how much programmatic revenue has been booked or not, the likely rubbish terms of initial contracts and time to ramp up etc. But we know nothing. Trying to say the company is a lifestyle company, and mgnt are on the take, and that it is anything comparable to the company it was 3 years ago is just nonsense, and while MIRI has always had massive potential, and they do sound like a broken record, it has a very different kind of potential today vs 3 years ago. I feel for those who will likely never re-coup their investment here, but the resentment needs to stop and we all need to stay more LT focused and adjust accordingly based on developments that impact the LT picture, not the next 3 months.
How do you get direct access to him? You just got his Mirriad email and been building a relationship?
Sent!
What are we hoping vs expecting to hear from TripleLift later?
It’s got to be that any potential buyer wants sales and growth to already be established. Further evidence that MIRI can run itself, otherwise the buyer might feel they’d have to do a lot of the heavy lifting themselves. I think given the MCap, any buyer would be happy to let MIRI beaver away and grow the business and then swoop in. Granted you wouldn’t want to wait too long given current momentum, but I’m not shocked it hasn’t been acquired up to this point really.
2 phevs any insight into that action?
Still haven't seen anything tangible to really debunk the possibility of this happening. Mgnt just keeping cards close to their chest. This LSE Board just breads impatience. Even if there is another raise coming, it changes nothing in the grand scheme of things, provided the current cadence of agreements and progress continues and no major IP concern comes out of the woodwork. Too many people are focused on what likely outcome is next - it falls 50% or it rallies 100% - they are not mutually exclusive. Either you buy into the structural disruptor case for this tech or you don't. If it dips to 1p on no news - happy days - just get your avg SP down if you can. All that has been a bit under appreciated at this point is mgnt's willingness to post some hard numbers and throw the market a bone. No doubt a directive of the new CFO. Nothing has changed. Business as usual.
Hard to say. Going by past actions is of course no guarantee of future ones and with a new CFO under the whelm who knows, but they like to keep things under wraps clearly. Depends how much they value throwing a few crumbs to the market or whether it's worth them biding their time (assuming they can survive the cashburn) until they can properly blow the lid of this thing. My gut feeling has always been that they gain very little from oversharing too early. Once you post a big number then you need the pipeline and cadence and keep it going. They clearly don't have that yet, so just keep us waiting.
Can't really complain with the update. Was always a tall ask to for them to commit to hard future numbers when clearly still bedding in so many new clients. The future in undoubtedly bright and management are clearly not looking to get over-excited while they scale the business meaningfully. Fair enough. However, we are unlikely to hear anything tangible until FY23 results in May and even that is no guarantee eFY24 numbers. That leaves us with the 24H1 update in Sept which seems a million miles away at this point and you'd wonder what share price catalysts we have in the meantime. So what can we expect in the short-term? The market clearly doesn't rewards partnership or TR1 client news and they are unlikely to just surprise us with a working capital or cash flow update in the meantime and cash burn is likely to become a more topical headwind as the year progresses. So I guess best case we hover at the 2p til Sept - but more than likely sink to
Think we all know we're on the march back to 1p in the absence of an RNS. Can't expect any more or less. Nothing has changed. Stay strong.
This was indeed said. But perhaps £25m in time, once the relationship had scaled.
I just don’t see them wanting to rush to produce any numbers. There has historically been a mid-December update but the PR / update machine looks to be in full swing and momentum and expectation are building nicely. You can only open Pandora’s Box once and I think they are probably correct to wait to ensure it’s a strong update. We’ve seen how quickly sentiment gets a bit stale with MIRI, so I think they’ll be cognisant of that and will want to ensure that the first update is backed up with a very strong pipeline to ensure a new base level at hopefully close to 10p.
I'd be happier if that was the case as that at least is rational and explainable
Long time holder of shares and relatively new observer of this board. First time poster. I do wonder about the consistent negative sentiment that hangs over this stock. It baffles me how anybody tracking the newsflow over the past month could be such a keen seller. It's a tricky stock to day trade due to liquidity and the fairly wide spread. Any good news bounce is almost guaranteed to be eroded away in the following days. I completely appreciate we need hard proof in the bottom line figures, but it is amazing the share price hasn't run a bit givan all the good news. It makes me wonder when we do get that first update and it runs hard to 7-8p (probably fairly quickly), will it find a new level or will said sellers just continue to grind away at it. I did notice a new broker note added on Bloomberg the other day (first one in 9 months) which should help with Institutional coverage. It strikes me that MIRI needs better PR and IR guys out there talking about the stock. The only thing I can come back to a bit is that all these sellers maybe don't know the extent to which things are building behind the scenes at MIRI..