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Very solid results & outlook.I am sure they would say that they are more selective about customers & have been targeting higher value clients for some time.I presume that the contribution from the US is not yet material & that operation may well be loss making due to marketing costs but ,if so, that will soon reverse & substantial revenues & profits will result.Much space in the report was devoted to our US operation & they appear to have big plans & expectations.The recent increased interest in cryptos ( again ) may be resulting in more revenues (again)
We have been targeting higher value clients for some time .Contribution from US operation likely to be still immaterial & my guess is loss making ,with view to investment in expansion & marketing costs but much of the 23 report & outlook was devoted to the US so I assume they expect substantial future growth there
The trading update ,presumably imminently,should help calm news together with news regarding Canada,S Korea & China
Happy enough with that interview,while appreciating that it is scripted ( as we pay for it).I am not sure what more Paul could have added as he confirmed that we are on target for FY24,he is happy with cash position & confirmed that a raise will not be necessary,new production( VW via Magna) starting now,margin mix results in increased margins,hard launch of G3 this week @ Geotab,Aviation progressing well etc.
The projections,including $125m revenue FY26 are based on what is currently known & , presumably , our winning a reasonable% of outstanding RFQs,securing material G3 contracts & long awaited Aviation contracts could result in an upgrade on those projections.
Paul & The Boards conviction regarding our outlook would be clearly demonstrated if some or all of them (preferably) were to buy shares this week ahead of the close period prior to Interims.If Paul believes what he says he must consider our SP to be ridiculously cheap.
I first bought a few days after the IPO for around 130p & had I gone all in then my portfolio would have outperformed most other portfolios.The total of dividends paid since then has been multiples of the IPO price & we have bought back around 33% of our issued sharesA few years ago the Board issued an unexpected profits warning following a series of positive trading updates & The Market ( & I ) were very disappointed & I then sold out with a very decent profit-& bought back a few months later but I am not aware of any other disappointments since then.
Finals on 20/2 should confirm a decent FY 23 & I am hoping that the Outlook may put some numbers ( for the first time ) on our US expansion which will hopefully be continuing to gather pace & ,surely, at some point, we will be on Nadsdaq
BetMGM FY 23 update on 8/2/24
Ditto-Inowitt
As our US presence grows I am sure that a Nasdaq listing will be considered & our Board have enough shares to want to see our SP re rated substantially .
Assuming G3 will be launched next week @ CES , as previously advised, I would have thought that many if not all of our sessions have been already pre booked & customers & prospective customers would not be relying on an RNS to advise them as to what will be happening @ CES.
Our G3 sales team should have been busy securing slots for next week.
Lets hope for no slippage
It will be interesting to see whether our growth in the US is sufficiently material to require separate disclosure in respect of revenues generated there.
We have been patient all the way down & as loyal shareholders we were truly shafted by the last & unexpected fund raise.Greg has much to do to win back any credibility & regain any integrity he may have had.As negative as I am I appreciate that US Q4 figures could provide an inflexion point( along with news of progress elsewhere in The World) & news of our launch in Canada & Korea in 2024 would be helpful in rehabilitating our SP -as would news regarding our China milestone .Most longer term holders would be glad to be out with an honourable exit ,which will be 18p + for me .
Hopefully we long term holders,adders & believers will be vindicated early next year,starting with CES ,the announcement of new features (as referred to by SEE today) & the long awaited launch of G3.Peels 12p target will do for starters !
Utterly pathetic that SD invested only £4k ,less than half of 1 months net salary, on shares on Val & she still owns less shares in total than many here , despite earning a higher salary than many/most here.Actions speak louder than words Suzie.
All Directors have been been buying in volume & investing substantial amounts over the last year or so, the last buy being declared buy being 3/11.They are either total fools & have misjudged what the DMS Market wants & allowed SEYE to dominate The Market ,leaving us with scraps - or they are indeed shrewd executives,who fully understand the total market & where SEE will sit in that market ,with a very good understanding of what they expect to win & how that will positively impact our figures.
Of course it is disappointing to see SEYE regularly announce wins & yesterdays news of the biggest DMS win to date,boosting their SP substantially,is very disappointing to all SEE holders & especially those of us who have been here for over 10 years.Paul will surely be proven right , or not , over the coming weeks as ,apart from the RFQ wins which he led us to believe would be flowing before 31/12/23 , it is crucial that there is no slippage in the launch of G3 ( in 3 weeks @ CES) & hopefully the announcement of initial post production contracts to accompany the launch.I have total empathy with those amongst us who are worried & selling but having been here this long I am prepared to wait a little longer in the hope that Paul vindicates himself & our investment prowess (or not )
Interesting week ahead ,especially if the much rumoured Board appointment is made
I am sure that we all agree that Paul needs to deliver on expectations which he created,eg only a short while ago he suggested that the market had changed, there had been delays in RFQ awards but with view to impending legislation we should expect to hear positive news by 31/12/23 .Additional he clearly stated that G3 will be launched @ CES so lets hope that doesnt slip too & that while we speak we are putting the finishing touches to a number of after market contracts ( 50-100k) to be announced on launch.
A H1 trading update should also be published in the next few weeks & lets hope we remain on track & our bank balance remains healthy.
The long awaited positive news flow could come rapidly & result in our SP moving forward-that is my belief but I recognise that the continuation of no news,or bad news will continue to damage the value of our investment