RE: Rns3 Nov 2022 08:47
Good that revenue is on track to meet expectations with 44% of FY revenue delivered (why say over 40%, saying 44% is more positive?).
Great that a placing seems unlikely for now, 'The Board is confident that it can...exercise control over discretionary spending and working capital to manage the Group’s financial position.'
Happy that NIPT is growing strongly again.
But let's not be under any illusions though because this is a profit warning, 'The Board is confident that it can further reduce operating costs to achieve positive adjusted EBITDA in the next financial year...' This suggest we won't achieve positive adjusted EBITDA in the current financial year when market expectations are for positive £1.5m.
And I also note the Board is prioritising revenue growth over profits, 'The year-to-date performance informs the Board’s confidence...to prioritise market penetration over near-term EBITDA delivery.'
This share is going nowhere fast and we can still only pray for a takeover, which will happen at a much lower price than we thought possible only 3 months ago.
FFS I'd take 10p now or the removal of LR.