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Finally had time to watch the update. They are a good team operating in a developing opportunity.
If costs held and sales grow as suggested then off £14m they become profitable. They expect that this year. If growth maintained in the following year FY25 then we can get some true measurables currently SP looks right. With labour spending heavily on NHS (if you believe what they say) then this should benefit IUG. This will either get taken out or SP will start to move upwards when and if they get to PBT. Trading update in July will show whether SP will move this year or next.
The £2m credit facility with HSBC puts cash raise noise down. They are a good company but it may be another year before SP really moves.
Last Trading Update
If costs held Clinical AI sales doubling as forecast and Simulation is growing then starts to look better value, if and only if cash is good. Can they deliver a H1 tiny Operating profit? We will know more tomorrow.
Outlook:
We remain positive about the outlook for the Group in 2024:
The Group therefore expects revenue in 2024 to be between £14m to £17m and continues to anticipate reaching profitability with its current cash.
Copied from Hatfullofsky with thanks
Google (GOOG, GOOGL) is delaying the phaseout of third-party cookies on its browser Chrome for the third time because of regulatory hurdles, and now expects the process to start early next year. "We recognize that there are ongoing challenges related to reconciling divergent feedback from the industry, regulators and developers, and will continue to engage closely with the entire ecosystem," the search giant said. The announcement comes days before quarterly status reports from Google and the U.K.'s Competition and Markets Authority on the phaseout of third-party cookies, which will be replaced by Privacy Sandbox technologies to improve consumer privacy.
Regulatory pushback: The phaseout - which will transform targeted advertising - has attracted regulatory scrutiny over concerns that the move could further boost Google's dominance in the digital advertising market due to increased reliance on first-party data and its advertising platforms. The U.K.'s Information Commissioner's Office last week told the CMA, which is overseeing the phaseout, that Google's plan has gaps that advertisers can exploit. "It's critical that the CMA has sufficient time to review all evidence, including results from industry tests, which the CMA has asked market participants to provide by the end of June," said Google. "We remain committed to engaging closely with the CMA and ICO, and we hope to conclude that process this year."
Delay after delay: The company has spent years preparing for the phaseout, following in the footsteps of Apple (AAPL) and Mozilla, which already have options to block third-party cookies on their browsers. Google even began restricting cookies in January for 1% of Chrome users as part of a limited test. However, it delayed its phaseout deadline twice already since it was originally set in 2020, giving advertisers more time to prepare for the change.
As for the Privacy Sandbox that will replace third-party cookies, advertisers believe the solution is inadequate. "Our findings identify multiple challenges to implementation due to limitations in accomplishing key advertising objectives," Anthony Katsur, CEO, IAB Tech Lab previously said. In response, Google argued that IAB Tech Lab's analysis contained "many misunderstandings and inaccuracies." Adtech names to watch out for: Trade Desk (TTD), Digital Turbine (APPS), AppLovin (APP), Magnite (MGNI), Perion Network (PERI), PubMatic (PUBM), Viant (DSP), Integral Ad Science (IAS), and Innovid (CTV).
Its not a huge number of trades. Darren CFO leaving felt uncomfortable, as it always does, which may delay results until Chris Ellis gets his feet under the table. Last year we had been updated with Q1 results by now and interims were mid June. It would be good to get a trading update out as SP has slipped 44% from highs.
Chris's job is to confirm or not Darren's numbers and to confirm clear EBITDA positive message from Ian with an update on cash which should be good given the £1m raise late last year. If Ian backtracks on his view it wont be good.
44% drop needs news or it will keep sliding
Auve Tech, a pioneer in autonomous transportation systems, based in Tallinn, Estonia.
Not so sure USA will want autonimous vehicles from Estonia in volume. With Bell disaster, Lucy disaster, Salt TBC, we will see about these vehicles. Oh of course and something else with AI in its title.
The rule should be do not buy any company with links to Tek Capital, China and that can not get timely communications out. Rather than send an email telling them to do their job I should have sold. Like Tek and others.
I expected at the very least a thank you but we will update the market soon. They did get the share quantity out so must have too been busy adding them up to be polite and reply. :) no egg for them.
Though $9m is only 0.3% of company value and in itself it has no material impact on SP, though the 10% of shares held by Molot and Bogart means sticky hands.
It is the statement on knowledge that they know the shares are way undervalued. They of course have inside knowledge on exactly how negotiations are going, on YPF, Greenland, Sysco and many others not so well known.
The SP has 15% movements up and down in price which is great for traders but the lows keep getting higher. Follow the money is the phrase.
Agreed if the revenue for FY25 grows at just 10% to £34.6m and costs are held at 8%. PE at 39p = 6.8. Really cheap for a disciplined firm going for growth. I think given 16.8% and 14.3% growth in last 2 years 10% will be exceeded.
Its just a waiting game
It would seem all efforts are being put in to knock the price down. who the beneficiaries will be should be clearer later this year. No news on US sale after 6 months, hardly credible and end of April next date. Lets see what they says on the call
Management will host a briefing call at 08:30 today. To access the call, please use the following details:
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Puma so true. I got out a few weeks ago. At 12p. Many better companies are starting their moves. Reporting next week Good Energy, Trufin, Time finance, Journeo all moving well city has lost faith with Cliffys failure to deliver.
Casapinos highlighted the details of what the City has not liked.
The underlying business is more profitable, the debt still high but manageable, the dividend has not come back. They hedged to protect themselves but it has come with a cost. Living wage +10% this year will mean they will have to trade well to stay level TY and next year. They will a solid company with peers in more trouble but perhaps more growth opportunities out there for a better capital return. They may likely resume their buy back to get SP to £8 but perhaps keep getting the debt down or dividend would help attract income investors. At a forward PE of 17 they are simply not cheap.