Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
That's interesting , the Swedish and Danish companies were some of Ondo's earliest customers.
Hi Jigger-1, Thanks for your in depth research, I had been looking for a bit more detail in the update regarding the Nationwide roll out, I note that initially they are starting in just the one state, that's Ohio, that might account for the lack of publicity.
Although for the time being Ondo is a tiny company they are listed on the main market not AIM that is possibly why there is not too much interest in the company at this stage but if they do realise their potential, in the future already being on the main market could be a big advantage.
Thanks for that MrMarmalade, an extremely positive view of where Ondo is at the moment and a hint of the potential going forward. it would be great if we got an update of how things have gone during the first quarter in due course.
Hi PrivateRyan,
Like you I also had that concern, I emailed Craig and this was the reply I got, he does mention the strong gross margin from Y2 onwards.
I see this as a long term investment with great potential.
Hi Craig,
Good to see, quite rightly, so much positive discussion on the boards
I would be interested to know what percentage of the $60 per year recurring fee is spent by Ondo on plumbers.When I initially invested i had presumed that the customer would be responsible to hire and pay for a plumber himself but soon realised that Ondo seem to supply a plumber when needed initially. If Ondo had a million customers over America I struggle to see how the company can service the percentage of customers with a leak without it being a large cost to the company.
Best wishes,
Geoff.
Hey Geoff
Thanks for your question. I would suggest you have a look at either the Bloom or Dowgate research papers (links from our website here https://www.ondoplc.com/investors/advisors-2/)
...they contain a example breakdown of the unit economics at $6 a month. Their assumptions here are in inclusive of the engineering costs
The common misperception is that there must be, as you say, a prohibitively high cost of the plumbing repairs - but this is not right. We obviously have a very good handle on exactly what percentage of installed units will result in a repair and it is lower than you might think (single digit percentages in Y2)... so the per unit or per customer cost of repairs is low, hence the strong gross margin from Y2 onwards
Hope that helps
Craig
Craig Foster | CEO
Nice positive way to start the year. This could be a huge year in establishing Ondo as a potential global player in insuretech.
Alistair John Edwards seems to recognise a promising investment when he sees it, 2.829%.
Thanks for that gmcc. So more potential customers for Ondo through their tie up with Admiral.
Just for interest.
100% penetration on 5millionhomes would produce a recurring revenue per year of ($60) = £47.90 per home x 5M = £239Million. Obviously all the costs have to come off of that figure but it would still leave plenty of profits for dividends.
It all sounds extremely positive although contracts take time to be agreed. After the announcement of the WNS partnership in April Craig said this -
Craig Foster, CEO of Ondo InsurTech Plc, says : "This is a game-changer proposition within the home insurance industry which can considerably accelerate our business scaling. With the WNS loss reduction guarantee, insurers are incentivised to move straight to large scale rollouts to deliver a guaranteed improvement on their loss ratio. We look forward, in future, to being able to announce the fruits of the partnership."
I am looking forward to seeing the fruits of the partnership hopefully in the not too distant future.
Ondo InsurTech Plc
@OndoPlc
Introducing our latest outpost! In partnership with IAG - Australia's largest general insurer - we are using this test house in Sydney to pilot our new All Weather version for hot climates. This is the first stage before we expand to testing in homes right across Australia. #ONDO
@LeakBot_HQ
So they have now developed a new All Weather version of the Leakbot for hot climates, in the long term this is potentially very significant.
Https://www.courierherald.com/news/mutual-of-enumclaw-launches-leakbot-pilot-program/#:~:text=The%20company%20is%20aiming%20to,related%20causes%20of%20home%20damage.&text=Image%20courtesy%20Mutual%20of%20Enumclaw,a%20leak%20in%20your%20home.
Two great tweets from Ondo in the last couple of days.
They are making progress on various fronts.
https://twitter.com/OndoPlc
Ondo InsurTech Plc
@OndoPlc
Introducing our latest outpost! In partnership with IAG - Australia's largest general insurer - we are using this test house in Sydney to pilot our new All Weather version for hot climates. This is the first stage before we expand to testing in homes right across Australia. #ONDO
@LeakBot_HQ
9:54 AM · Oct 17, 2023
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5,597
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Craig Foster
@foster_ideas
·
Oct 18
Great coverage in the USA today! "Mutual of Enumclaw launches Leakbot pilot program" Fantastic working with Jerel and the team at MOE - a great start working with a fantastic Insurerance company #ONDO
That should be interesting, hopefully the positive interest that we have received from various companies in different countries will start yielding big contracts, as much as for saving water as for making this company as successful as it should be.
Great post.
CEO Craig Foster will be providing a live company presentation and Q&A on Monday, 7 August at 2pm (GMT)
The event will be hosted virtually by the London Stock Exchange on its Spark Live Platform and open to shareholders, prospective investors, journalists and financial analysts.
Please register interest here: Investor Presentation Registration
The presentation will subsequently be available on ONDO's company page on the London Stock Exchange website:
https://www.londonstockexchange.com/stock/ONDO/ondo-insurtech-plc/company-page
Looking forward to updating the market today…. Results will be released during trading hours today #ONDO
Although for the time being Ondo is a tiny company they are listed on the main market not AIM that is possibly why there is not to much interest in the company at this stage but if they do realise their potential, in the future already being on the main market could be a big advantage. Very rare for any company's share price to go above the placing price on the day of the announcement but no surprise here given the progress they appear to be making.