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And in the same month sold a Kmk CZT Veriton CT scanner
to a cancer Hospital in Paris.
It's great to see these sales and looks a sure ongoing repeat contract for Kmk.
Looking fwd to hearing some news soon re the Philips and Analogic development progress and then my guess Fujifilm next?
https://spectrum-dynamics.com/spectrum-dynamics-is-proud-to-announce-the-installation-of-the-veriton-ct-spect-ct-imaging-system-at-european-leading-cancer-center-gustave-roussy/
Looks like Spectrum Dynamics have just installed their first US Veriton CZT CT scanner. hopefully many more to follow
I saw Thier adverts and news as they built up the sales team and service centres across the states last year.
25th April-
https://spectrum-dynamics.com/ridley-tree-cancer-center-in-santa-barbara-california/
Kromek hails 'excellent momentum' after US security deal - North East Times Magazine
https://netimesmagazine.co.uk/technology/kromek-hails-excellent-momentum-after-us-security-deal/
It doesn't say it is CZT and I doesn't say it isn't
But there should be some news soon from all the development work announced
https://radiologybusiness.com/topics/cardiac-imaging/computed-tomography-ct/philips-launches-new-ai-enabled-ct-scanner-aimed-cardiology-ecr-2024
Nothing new...but just nice to read it again on a quiet morning
https://brazilenergyinsight.com/2024/01/23/navitas-assessing-fpsos-for-phase-1-offshore-falklands-sea-lion-project/
Another bit of radiation detectors news and recognition.
At the Kmk webcast last week it was stated the Kmks handheld detectors were the fastest and most sensitive commercially available.today and that they have had an AI dept for some time working along side others depts.
All good news and recognition of Kmk advanced tech.
Https://www.insidermedia.com/news/north-east/kromek-lands-1.3m-for-radiation-sensor-project
"Sedgefield-based detection technology developer Kromek has won a £1.3m grant to develop an AI-powered radiation sensor."
Led by DTU Space, the i-RASE project is a collaboration between industrial and academic partners in Denmark, Germany, Norway and Italy to design, build and test a new class of radiation sensor based on cadmium zinc telluride and other advanced technologies.
Hi Vascular, good find I can't remember seeing that before.
The UK's MoD was mentioned from memory and other pipelines of opportunities. and the growing number of countries that have placed initial orders to evaluate etc.
But the 100 mil was mainly talked of.
Maybe the recent additional design functionality of the D5 system is linked to these tenders.
Do you remember this tender being put back due to an error ? In the documentation. It's dragged on a while this.
There were also other imaging contacts mentioned and crossing the t' and dotting the it's, very busy general it seems.
But some people always find something negative to make up or moan about eh?
you don't half talk some tosh skid,
did you bother to listen to the company webcast ...i guess not..as you couldn't be ****d last time for some reason.
so you aren't aware of the 100 million live tenders out for d3/5 handheld detectors. i'd have thought if someone was going to endless moan about the company and its management it might be wise to have all the facts.
Https://markets.businessinsider.com/news/commodities/gas-oil-prices-outlook-supply-shock-us-production-crude-forecast-2024-1
"The world's total oil demand was estimated to have risen 2.3 million barrels a day last year, according to the International Energy Agency. By 2050, demand could skyrocket as high as 42%, per an IEA estimate."
"More energy giants are investing to ramp up their crude oil production, with the US seeing over $100 billion of oil company mega-mergers in 2023. But it could take years for those investments to fix the industry's chronic undersupply problem, some experts have warned — which means prices are likely climbing higher for the time being"
Concludes with -
"Longer-term view of CZT market. We continue to acknowledge the current low penetration rate of CZT sensors into the Advanced Imaging space, something we believe will change considerably over the next 2-5 years. We have reviewed our longer-term expectations for this market and built a new DCF which leads to a market cap valuation of over £300m, or greater than 50p per share. On that basis we increased our target price from 25p to 28p per share. We note that Canon acquired Redlen Technologies, another previously independent supplier of CZT, for $325m in 2021, at a time when the future demand for CZT sensors was less clear."
CZT is going to be utilised by diagnostic imaging OEMs for some considerable years, the smallish recent CZT imaging going Into prototypes is my guess for testing, with strong likelihood of turning into multi-year supply contacts, 7 years seems to be the industry norm.
Broker 30th Jan
In-line revenue growth and strong OpEx control Kromek reported interim results with revenues up 5% to £7.1m, adjusted EBITDA loss of ca. £0.1m, period-end gross cash of £3.7m and net debt of £5.2m. The company reiterated its view that fiscal 2024E revenues are expected to grow in-line with market expectations, which we see at around 20%, which implies a sharp pick-up in the H2 result (to +32%). Although this sounds a tough target it needs to be remembered that, because of the recurring contract revenue nature of the business, revenue forecasts are predictable – per the release management has good visibility on 84% of the 2024E forecast, with the remaining 16% to come from the known pipeline of opportunities. Adjusted EBITDA saw a dramatic improvement over H1 2023 at a loss of £0.1m, a function of the improving gross margin and significant control of other operating costs, which reduced from £8.0m to £6.4m. We slightly increase our 2024E, adjusted EBITDA moving from £0.9m to £1.2m, and more materially in 2025E, from £1.7m to £3.1m, driven by our belief that the company will continue to stay on top of operating costs. We see 2024E year-end gross cash at £3.5m and net debt at £5.4m (prior to £2.6m conversion of CLN). Having reviewed the longerterm opportunities for CZT in the Advanced Imaging market we increase our price target from 25p to 28p.
Https://www.marsbioimaging.com/spectral-ct/#:~:text=Spectral%20photon%2Dcounting%20CT%20measures,and%20determine%20the%20amount%20present.
Mars a tier 2 diagnostic CT manufacturer previously mentioned by Kmk as being engaged with, talking about CZT Photon counting CT
It's very likely we will hear about other tier 2 OEMs contracting with Kmk, some of them are already I think such as Fujifilm but under Non disclosure agreements.
"Spectral photon-counting CT measures how specific x-ray wavelengths are attenuated, which is used to determine material composition. For example, if iodinated contrast is administered to the patient, spectral CT can distinguish iodine from body tissues (bone, fat) and determine the amount present.
The combination of a color spectrum with extremely high spatial resolution means spectral photon-counting CT contributes significantly more information compared to conventional x-ray imaging. We aim to revolutionize medical imaging and significantly improve healthcare worldwide. Spectral CT, bringing color to x-rays, is analogous to that of the complex technological innovations that enabled the move from black/white television to color television. "
Kromek Group plc (AIM: KMK), a leading developer of radiation and bio-detection technology solutions for the advanced imaging and CBRN detection segments, gives notice that it will be announcing its interim results for the six months ended 31 October 2023 on Tuesday 30 January 2024.
Dr Arnab Basu, Chief Executive Officer, and Paul Farquhar, Chief Financial Officer, will be hosting a presentation for investors at 6pm GMT on Wednesday 31 January 2024 via webinar.
Thanks for correcting me Skid,
so the CEO of Kromek has had 3m shares gifted over the last how many years...10, 15,
so even at 10p a share that's £300k, a company he's created from scratch, and you moan that's excessive.
I've looked at the management salaries and not considered them excisive and below UK average.
I was hoping you would bite a bit harder and give us the full list of management salaries, against the UK average ones.
But you probably don't want to.
None are excessive, how about the CFO chief finance, from memory £180k....a tube driver on the new Jubilee line earns £70k ....you're mates at your investment house probably wouldn't get out of bed for that.
The CZT tech that's taken all the tier one OEMs, Canon, Philips, Siemens and GE 10+ years to develop and adopt will likely be utilized for the next 20 odd years.
Hence Siemens building from scratch an £800 mil site already owning a Japanese £200m? £300m plant......you moan a lot on here Skid when you should be joining up the dots....always about the management....they are the last man standing on CZT tech in the world where all the rest have been bought out by tier ones....they now have all the tier 2's as potential customers which no doubt want to keep up with the sea change in medical diagnostic imaging.
Come on Skid you told us all not long ago Kmk were making the wrong type of CZT....2/10 for understanding the business
Blimey Skid that's a bit rich, you endlessly moan like an old woman on here month after month, a slip of the pen.. chairman...CEO of dear dear...
On the subject of facts, the last time I checked the CEO 's pay was at the very bottom of the scale of average for a UK
listed tech Company, and with all the multiple international projects that Kmk are working on, any the many foreign gov's and delivering on them and gaining repeat business. You have the nerve to criticize the management pay.
You say you work at an tech investment house and have account ing exp and some kind of qualifications that might impress us..so you know all this without me reminding you, and what share options are you referring to I've never heard of any In the last 5 years.
Come on Skid don't play us all as idiots like your
mates on here.
Jan 3rd 2024
Philips mentioned in last paragraph re Photon counting CT development, also Uniting imaging and Fujifilm plus others....all pushing ahead with CZT based Photon counting CT systems.
Trends and advances in CT systems at RSNA 2023
https://radiologybusiness.com/topics/medical-imaging/computed-tomography-ct/trends-and-advances-ct-systems-rsna-2023
|2023-12-04
"Siemens Healthineers aims to expand photon-counting scanning technology to 1 billion patients over next decade.
Siemens Healthineers aims to scan 1 billion patients with photon-counting based computed tomography scanners within the next decade, bringing its unique state-of-the-art imaging within reach of more and more communities."
The company is investing €80 million (over £65 million) to expand photon-counting CT manufacturing in Forchheim, Germany
a serious investment in CZT manufacturing and tech I don't think they would commit to this if they had any doubts on the commercial return on capital investment.
https://www.siemens-healthineers.com/en-uk/press-room/press-features/photon-counting-expansion