Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
Some ways to go yet folks....
https://www.msn.com/en-gb/money/technology/exclusive-microsoft-s-bing-plans-ai-ads-in-early-pitch-to-advertisers/ar-AA17Csk3?ocid=msedgdhp&pc=U531&cvid=361f31417a2649418c7e859f1ee0708f
Yeah, it's looking like this one has quite a bit to run before either Microsoft or google are generating meaningful revenue from chatGPT. It could take years for that and from a shareholders point of view, Perion will need a significant contract extension on its next renewal with Microsoft if it is to secure a worthwhile stability of tenure here and benefit from chatGPT over the longer term, I think.
wouterius re your, Maybe in a year/ a couple of years this discussion would be completely different...
Agree. The two valuations are way out of kilter right now and getting wider as we speak, but lets see where Tremor sits at the end of the year. From Perion's standpoint, I don't think it will wait too long to plug the gaps. From a personal perspective, I would very much like to see Perion and Tremor merge. Valuations permitting, private equity will willingly fill the gap (for a stake in the new enlarged enterprise) assuming that gap narrows enough to make a deal doable for both parties and both parties want it. It may never happen of course, probably wont, but I can enjoy the thought while waiting for the disappointment.
jonhas.....Perhaps it’s relevant to ask what is Bing’s contribution is to the total revenue of the Microsoft operations. This extract says it’s about $11 billion, which, in itself, is a sizable sum, but in reality it works out at just 5.8% of Microsoft’s total turnover.
Extract, In 2021, Microsoft made over $198 billion in revenues, of which over $67 billion came from Server products and cloud services, and $44.8 billion came from Office products and cloud services. Windows generated $24.7 billion, Gaming generated over $16 billion, LinkedIn over $13 billion, and search advertising (through Bing) over $11.5 billion.
Over time, one would expect Microsoft’s total operational revenues to grow and so when set against this, Bing’s contribution to Microsoft from ChatGPT would need to grow significantly in order to impact that 5.8% contribution. That may take a number of years.
The impact from that same growth on Perion however, as a % of Perion’s revenue could become quite significant and thus there is the potential here, as the years progress, that Perion would become more and more reliant on Microsoft continuing to renew the existing contracts and that may weigh heavy on investors if Perion doesn't take steps to mitigate for this.
You might argue that the managed side of Perion’s business will also grow and to some extent offset this, but looking at the practicalities here, there are issues for me, not least that the ‘managed’ business is labour intensive and more expensive than self-serve and not easy to grow it. Leaving aside the pros and con of both, managed programmatic platforms require dedicated teams for each and every one of their clients ie an Accounts Manager, a Project Manager, a Campaign Manager and digital analysts that constantly decipher and report on the data they’ve collect throughout each and every ad campaign. Whereas this is a good earner and a well-established niche earner for Perion, it looks to me that if Perion intend to scale up from here then, I can’t see scaling up happening from the managed side of the business. To do this, Perion needs a get itself a well matured self-service platform and also find a way to mitigate the worry for investors in regard to its growing reliance on Microsoft. To this end, but not exclusively, I could see great value in a merge with Tremor.
Apologies for the double entry of the same link in my last post. The second link should have been this one which explains the difference between Edge the browser and Bing the search engine. Bing is Microsoft's Edge default search engine.
https://www.chtips.com/computer-fundamentals/differences-between-microsoft-bing-and-microsoft-edge/#:~:text=No%2C%20Microsoft%20Edge%20is%20a%20browser%20whereas%20Microsoft,Google%20has%20more%20regular%20viewer%20compared%20to%20Bing.
Perion has a contractual relationship with Microsoft’s Bing to the extent that about 45% of Perion’s income is derived from it. It’s hoped/predicted that Microsoft ChatGPT will drive more search activity to Bing and thus more income for Peri. For me, the flip side of this little earner is, Peri’s percentage of income from the Microsoft relationship will grow beyond the 45%, where it already is, and Peri's top and bottom line becomes even more dependent on maintaining the contractual relationship that it currently has with Microsoft, into the future. As things stand, all looks well in that regard for Perion Networks in that, although the current contract has something over a year to run, Peri has a long standing relationship with Microsoft which extends back some 10 years+ to date.
Extract…The news was announced at a Microsoft ChatGPT event in February 2023 where company execs confirmed that OpenAI's next-level chatbot tech is going to be integrated into both Bing and Microsoft's web browser Edge. This comes after Microsoft invested billions in OpenAI to try and challenge the search dominance of Google, which plans to launch its own Google Bard AI chatbot.
https://www.tomsguide.com/how-to/how-to-use-the-new-bing-with-chatgpt-and-what-you-can-do-with-it
https://www.tomsguide.com/how-to/how-to-use-the-new-bing-with-chatgpt-and-what-you-can-do-with-it
Perion looking good. I'm wondering to what extent Perions sp is rising on the back of Bing's recent ChatGPT beta launch and future potential?
Extract...Microsoft might finally have a hit on its hands with the ChatGPT-enhanced 'new Bing' after a being a minor player in the search world for more than a decade.
OpenAI's ChatGPT attracted one million users in one week and now, after announcing the 'new Bing' with ChatGPT features, Microsoft officials have highlighted their own figure: a million people signed up on the waitlist to try out the new Bing in just 48 hours.
https://www.zdnet.com/article/chatgpt-one-million-people-have-joined-the-waitlist-for-microsofts-ai-powered-bing/
And...
BEIJING, Jan 30 (Reuters) - Chinese internet search major Baidu Inc (9888.HK) is planning to launch an artificial intelligence (AI) chatbot service similar to OpenAI's ChatGPT in March, a person familiar with the matter told Reuters.
https://www.reuters.com/technology/chinas-baidu-launch-chatgpt-style-bot-march-source-2023-01-30/
Results dates...
TTD, Wed 15th Feb, cc at 1pm GMT
Magnite, Wed 22nd Feb, cc at 21.30hrs GMT
Pubmatic, Tues 28th Feb, cc at 21.30hrs GMT
A bit of reading while we await Tremor's results and a view into the complex and competitive nature of the adtech world that's out there and which Tremor is part of....
https://smartyads.com/blog/10-best-dsps-that-define-programmatic-buying/
https://www.theadreview.com/best-ads-networks-for-advertisers/
Twiglett....hope you enjoy reading because this is a long read. You will find what you are looking for in the link below.
Click the Documents List tab....
https://iapps.courts.state.ny.us/nyscef/DocumentList?docketId=j/MKa5jKQOiZ2rhRcKfwfw==&display=all
For those that follow broker reports...MarketBeat News on Feb 10th, 2023...Perion Network (NASDAQ:PERI – had its “buy” rating restated by equities researchers at Needham & Company LLC in a report released on Wednesday, Benzinga reports. They currently have a $37.00 target price on the technology company’s stock.
jonhas re your.....what did you make of Peri's guidance of 14%?
I also raised an eyebrow on that one (as did Laura at 44.53 min into the cc). I looked back to clarify that the outlook given at this point last year, i.e. 4Q 2021, was for 30% growth. Tal responded saying Perion is working with the same model that delivered 40% adj ebitda this year. Umm!?
surprised, re your, TLY are seeking to ensure contracts are in place where margins are increased, revenue for the sake of revenue.
There is more to it than that.
This from 1gw....If Totally can't maintain regulatory ratings (especially safety-related), can't maintain margins in your main revenue-generating businesses, can't recruit well and can't invoice well then you're going to struggle, aren't you?
How is Totally doing in these areas?
........................
As per above, Totally Plc has execution problems and there is absolutely no certainty that it can/will secure higher margin business?
From the Perion Conference Call, Peri not reporting any weakness so far, in this quarter.
Sorry guys, here's the correct link for Perion ...
https://wp-cdn.perion.com/wp-content/uploads/2023/02/08111552/PERI-Q4-2022-PR-VF-clean.pdf
Thordon, re your..... however would much better be safe with 50% spilt which means more buyouts.
And where might the money be coming from from for all those buyouts? More dilution?
For heaven sake, Totally is a decade in the making already and they still can't get this jumble to work profitably. Just how long are you planning to wait/hope for a return on your investment here?
Canute had all those high flying thoughts/hopes when he bought in here at 95p+ a decade ago and look where he is right now, a loser still spouting the same old clap.
Wake up.
Courtesy 1gw....
I retain an interest in most of the stocks I've invested in. In post 15469, which seems to have been my last on here (advfm) before my recent reappearance, I gave what I thought was the bear case at the time, but also commented on what I then thought were the keys to future success - namely sustained cash generation, organic growth and renewal of key contracts, in particular the Greenbrook ones.
So having watched the company do well for a couple of years, benefitting from Covid contracts, short-term urgent-care extensions and the growth of the insourcing business, I was intrigued by the recent RNS's the company issued on the HSJ piece talking about the cancellation/termination of some of the Greenbrook contracts.
Having taken a closer interest once again I did some further digging and have offered up some of the analysis and information in subsequent posts. I would have thought the 1H operating cashflow, the 2H cash requirements (dividends and contingent consideration), the implications of Pioneer growth and Pioneer invoicing problems for cashflow, the "requires improvement" ratings for "safe" on 2 Greenbrook UCC inspections, the apparent collapse in Greenbrook GP margins in FY22 as well as the apparent big reduction in Greenbrook admin expenses that year, might all have been of interest to investors and potential investors. There seems to have been precious little other discussion of most of this before I started posting again.