Member Info for GW2014

This seems very cheap at 160. Particularly with that price target of 200p just coming out. Also, does anyone know as to whether SBI will be selling their pharmaceutical freezers for the vaccines? That's one of their 3 core businesses.

Does anyone have any idea when SBI reports earnings? Will it be in January?

Sent the liberum document to your gmail address.

i'd be happy to send you each the Liberum research document if you put an email address on here. I don't think i can send it on this platform.

yes you are right about the revenues on Covid testing. My numbers were wrong. They had about £7m in revenue in September from Covid testing in September and averaged 5,150 tests per day. They aim to be testing 10,500 per day by turn of year. That equates to over £14m revenue per month. They also think that testing will peak mid 2021 - so lets say they only do £14m per month on average (probably would be significantly higher if it increases into the middle of the year), that's about £170m revenue on Covid alone with about £20 to £30m revenue from their other businesses. We are probably looking at over £200m in revenue in 2021. The company's market cap is currently about £120m so seems like a bargain to me.

Here is the link to the presentation. Having listened to this the more I realise this is extremely undervalued:
You may have to register with InvestorMeetCompany.com to listen to the presentation and see the slides. I did this retrospectively and got through to the meeting no problem;
https://www.investormeetcompany.com/investor/meeting/investor-presentation-14

Tzarr68 and ShaunP -
I got shares in the IPO and this was in the Liberum document -

Whilst COVID-19 has impacted the business, particularly the Healthcare Diagnostics and Genomics
business units, there has been significant growth in capacity and associated revenues generated by
the Infectious Disease Testing business unit.
Infectious Disease Testing revenues totalled £15.2 million in the five month period ended
30 September 2020 and has accelerated as COVID-19 testing capacity has grown month-on-month
since launch in May 2020, as shown below:
(there is a bar chart i can't cut and paste showing Covid revenue ramping up from May to September with £7,000,000 in revenue from Covid testing in September - I also know that they are were doing 7,500 Covid tests per day in September and are now doing over 8,000 per day because the CEO said he projected over 10,000 per day by December)

11. CURRENT TRADING AND PROSPECTS
The Company’s unaudited results for the six months ended 30 June 2020 show revenue of
£10.6 million (which included £2.2 million of revenues from COVID-19 testing services) and EBITDA
of £1.7 million.
Trading in the period from 30 June 2020 to the date of this document has been consistent with
the Board’s expectations, with revenues from Infectious Disease Testing rising strongly
month-on-month through the second half of the year so far. The Company has continued to build
COVID-19 testing capacity, from approximately 1,250 tests per day as at 30 June 2020, to
approximately 6,000 tests per day at 30 September. Trading in the other three business units
continues to be impacted by COVID-19, mostly within Healthcare Diagnostics, where Cellular
Pathology grew strongly in the first quarter of the year but volumes have not yet returned to
pre-COVID-19 levels.
In the near term, the Company anticipates that the financial results will be dominated by the scale
of Infectious Disease Testing revenues, earnings and cash generation.
The Directors believe that the net proceeds of the Placing and Admission will help accelerate the
growth of the business, including a further scaling-up of COVID-19 testing capacity in response to
current exceptionally high market demand.
As at 30 June 2020 the Company’s net debt was £28.7 million, comprising cash of £1.5 million, bank
borrowings of £4.4 million and outstanding shareholder loans of £25.8 million.

If either of you want the Liberum floatation document I can send to you.

Was there a presentation today? Do either of you have the link?

For some reason the link didn't paste correctly. It's also on podcasts:

https://www.**********.co.uk/media/5f9c1a5fb9f74a03c9dfcb93/?context=/

I've posted about SourceBio on the new board here. The IPO has been successful. Hasn't taken off so seems good value. Already got some but may buy more tomorrow. Currently at £125m mcap, which is next year's revenue. There is an interview on vox podcasts regarding the company ( about 40 mins in):
https://www.**********.co.uk/media/5f9c1a5fb9f74a03c9dfcb93/?context=/

SBI mentioned here in "Tier 2", although the writer is way off in the number of tests SBI is doing. SBI currently doing 8000 Covid Tests per day ramping up to 10,500 by January. Interesting:
https://www.sharebuyers.co.uk/shares/the-rise-of-covid-stocks-big-likely-winners-revealed/

Absolutely the same analysis as me. I have it on good authority that they are currently doing 8,000 per day and think they will be doing 10,000 COVID pcr cases per day by December. That means that they will likely be doing 10,500 cases per day by January quite easily. The CEO says in this interview that they are looking to “ramp up COVID testing capacity” with the proceeds of the IPO. Could they do more than 10,500 per day? I know that at 7,500 tests per day they were generating £7m per month from the covid business. At 10,500 per day they would be generating about £10m per month from COVID alone. Surely they will be testing for the other viruses as well? Surely each different viral tests adds revenue with little increase in costs? They do all the Covid testing for Spire Hospital group and have several other testing contracts with NHS trusts. The debt is to be paid off with the IPO proceeds so they will be debt free with revenues in 2021 of covid (likely £120m at least) plus their other businesses. Plus viral testing is here to stay. It won’t go away even after the pandemic.
Each COVID pcr test costs £40 to £45 and they have a 40% profit margin on those tests. Can’t see the down side at this level? Normally stocks like this trade at 2 to 3 times revenue if they are growth plays. The only question is whether testing revenues are here to stay - I recon they are. This pandemic has changed viral testing volumes for good

This is a hidden gem. I've got shares in this company. I've been looking at the numbers and doing a bit of research. The Liberum floatation document shows that they had around £20m in revenue last year with their cancer, pathology and diagnostics and pharmaceutical freezer storage business with a growth rate of around 15 to 20%. The started doing Covid PCR in May since it took about 2 months to get all the regulatory approval. They did £2.5m in revenue from Covid testing from May till end of June. They are now doing 8,000 PCR tests per day which gives them about £7.5m in revenue per month and they will be at 10,500 test per day by the end of the year. That means that this year's revenue will be up from £20m last year to £60m this year and their covid revenue for 2021 will likely by around £120 to 140m - add to that their other business about £160m total revenue next year. The current market cap is about £130m after this floatation so they are trading at less than next year's revenue. Seems like a bargain to me. Even if there is a vaccine, then viral testing is here to stay so i would think that that revenue would continue into 2022 and beyond. Novacyt expect the viral testing market to level off at a new much higher level than pre-covid so this company will be cashed up next year and most likely go on an acquisition spree with the money.

What have they said on this RNS that is new information? We know they have a distribution deal in USA. No new numbers and the cash in the bank has gone down and they sold €25m tests in June. That’s about 3 million tests. They will sell a lot more but what is new information. I am heavily invested but it needs to be new numbers to increase the SP

Shaun, i read in your spreadsheet that you think they are selling the swab kits for £5 based on analysis. I know for a fact that the price they sell them to small non NHS companies is £842 for 96 kits. That's £8.77. That price is current. This is not a discounted rate obviously and they may only be getting £5 per kit from their NHS contract but that would seem a massive discount.