Adrian Hargrave, CEO of SEEEN, explains how the new funds will accelerate customer growth Watch the video here.
"What will happen once the current Coronavirus is brought under control?"
So for instance, Byot lost the Tesco contract recently... only weeks before the Coronavirus outbreak!! How unlucky is that for timing!!
Question is whether they've managed to find alternative retailer(s), sign agreements and supplied them before the Coronavirus outbreak settles and is old news..
"Post year end we came to the end of our licence relationship with Robert McBride plc and therefore to supplying surface sprays to Tesco. This was an excellent arrangement for us for many years, but it has now run its course and we expect to generate higher margin opportunities with better brand equity from other consumer initiatives. "
https://byotrolplc.com/wp-content/uploads/2019/10/Byotrol-Annual-Report-FY-2018-19.pdf
Jimbo,
"Interesting product and company. Where do you see this realistically headed? Thanks"
The hope here is that the coronavirus will result in extra coverage for the company's other offerings. It should increase sales for their current offering at Boots, which is just 1 product. There are many antibacterial products on the market. eg This one for instance is sold out but crucially actually states 'effective against Norovirus' on the bottle. So which would customers choose???
https://www.boots.com/ecohydra-alcohol-free-antibacterial-foam-hand-sanitiser-100ml-10196456
Coronavirus' have been around for centuries - different strains appear from time to time.
What will happen once the current Coronavirus is brought under control? That is the real question?
my reply should say Byot "hasn't changed" not Byot "has changed"
Trek
"Byot has changed,"
Byot has changed, it took a Coronavirus to help with potential sales opportunities...
And also it's worth mentioning that other companies also operating in the CTV space were sold for a fraction of expected valuations or closed ... In fact, Sizmek, which was the biggest player as a 3rd party ad-server, filed for Chapter 13 Bankruptcy protection...
The fact is valuations of ad tech companies have been falling sharply due to Industry challenges...
Sizmek promoting CTV - Nov 2018
https://www.sizmek.com/blog/are-you-ready-for-ctv-trends-and-tips-for-advertisers/
Just 4 months later - March 2019, files for Chapter 11 Bankruptcy protection:
https://www.adweek.com/programmatic/sizmek-files-for-chapter-11/
Didn't rthm (blnx) offer CTV years ago??? I believe so...
Maplin
"Boots website appears to be out of stock of its anti-virus hand gel:"
after 1 day, they're back in stock today - Both the byotrol 50ml & 200ml available in stock...
currently number sold in last 24hrs...
50ml: '73 purchased in last 24hrs'
200ml: '81 purchased in last 24hrs'...
https://www.boots.com/boots-anti-viral-hand-foam%E2%80%93200-ml-10231389
Lets see how many they sell online by tomorrow evening..
They're out of stock with another 50ml anti-bacterial sanitiser:
https://www.boots.com/boots-aloe-vera-antibacterial-hand-gel-50ml-10249746
SNN,
"Of note - high of 235p 05.02.19 and 208p 28.03.19."
Feb and March 2019 were before the rthm merger, which completed 1st week of April 2019.
3rd Feb - the Taptica & Rthm, combined now called TRMR, announced their merger, so explains the high of 5th Feb you mention, given the high expectations at that time.
https://www.proactiveinvestors.co.uk/companies/news/213828/taptica-and-rhythmone-set-out-to-create-new-force-in-programmatic-advertising-213828.html
28/03/19 - Was the just after both company's shareholders had approved the merger, again the expectations were high...
https://www.morningstar.co.uk/uk/news/AN_1553277982375482600/rhythmone-shareholders-vote-in-favour-of-taptica-takeover.aspx
However, following the merger, the company broker, Finncap, note put a damper on the merger with their lowered expectations for rthm.
The problem is the recent Finncap note and TU shows that the company missed the lowered expectations as well.
Read the company's broker, Finncap reports, 2nd Apr 2019 & 6th Jan 2020 for fy2019 forecasts and actuals, respectively.
Finncap:
Apr 2nd 2019 - Forecasts for fy2019
Jan 6th 2020 - actuals for fy2019
Trek,
"so improved terms on Medimark takeover."
Yes improved terms but only because Medimark didn't meet expectations.
Question is whether the cash and revenue from the recent Unruly acquisition will make up for the loss in revenue and cash from Perk.com, which they closed only last month...
Also, given the huge miss on fy2019 expectations as per the company broker forecast in their Apr note, whether the current expectations are also too optimistic...
Tremor paid $19m and are guaranteeing News International $39m over the next 3 yrs.
Unruly made a of $11m in the 12 months to 30th June.
The paltry price paid for Unruly rattles the consolidating ad tech market
"Tremor is also guaranteeing News Corp £30 million ($39 million) in revenue over the next three years as part of the deal, in which Tremor will obtain the exclusive rights to sell outstream video ads across News Corp’s titles. "
"Unruly generated £43.5 million ($57 million) in revenue and an earnings before interest, tax, depreciation and amortization loss of £8.8 million pounds ($11.6 million) in the 12 months until June 30. "
https://digiday.com/media/paltry-price-paid-unruly-rattles-consolidating-ad-tech-market/
Read the company's broker, Finncap, reports:
Finncap's expectations and actuals:
Finncap:
Apr 2nd 2019 - Forecasts for fy2019
Jan 6th 2020 - actuals for fy2019
Revenue: forecast $495m, actual $325m (down 34%)
Net cash: forecast $113m, actual $75m (down 34%)
reported earnings: forecast $9.8m, actual $1.1m (down 89%!!)
Free to register:
https://www.finncap.com/our-services
Flying horse
"70m spare cash to play with"
The cash is around $40m lower than the $113m net cash the broker forecast last April.
See the finncap broker notes.
Some of that cash (and revenue) would have come from operations which were closed during 2019, eg perk.com, which was closed only last month.
Ad Tech companies need to carry large amounts of cash to pay for inventory.
Rthm had $75m for fy2017, yet only a fraction remained when they merged with Tap, now TRMR.
Trek,
"aim accounts can be published unaudited."
They were AUDITED but not qualified, which was my point in my post.
" the board took the decision that the interests of shareholders were best served by publishing the accounts with the consequential qualified audit opinion but resulting in the lifting in the suspension from trading on AIM,"
https://www.morningstar.co.uk/uk/news/AN_1570809767073374700/byotrol-releases-annual-results-shares-suspension-lifted.aspx
Trek,
"I sold out here after results due to accounting irregularities."
They still exist. Have you seen anything from the company or auditors claiming the accounts have been qualified?
There should be a detailed TU within the next few days, as announced by the company on 6th January.
Finncap, TRMR's broker, also provided an updated on the same day - It's free to register for Finncap...
Comparing Finncap's expectations for fy2019 from their report of 2nd April 2019, when the rthm merger completed, against their 'actuals' for fy2019 from their report from 6th January 2020, the main metrics are:
Finncap:
Apr 2nd 2019 - Forecasts for fy2019
Jan 6th 2020 - 'actuals' for fy2019
Revenue: forecast $495m, actual $325m (down 34%)
Net cash: forecast $113m, actual $75m (down 34%)
earnings: forecast $9.8m, actual $1.1m (down 89%!!)
Looking at TRMR's interims from Sept 2019:
Profit warning,
closing several rthm operations,
Still being affected by Industry Challenges,
Perk.com closing down - LOSS OF PREMIUM SUPPLY SIDE, DEDICATED USERS.
The profit warning from the company themselves, is there in black and white - AS EXPECTED.
" This coupled with the weakness in the Performance division year on year means that the Board believe the Company will be marginally behind full year expectations on profitability for 2019. "
The closing of rthm's operations - rthm operations not so good then? - AS EXPECTED
"Several of RhythmOne's products have been discontinued alongside its demand-side platform ("DSP"). The development of RhythmOne's data management platform ("DMP) has also been taken in-house. This initiative created an operational challenge for management, however they believe the decision will markedly benefit the company in the medium-term. The reduced development, maintenance and data centre costs form part of the wider initiative to streamline the Company's operations."
Industry Challenges continues to affect trmr - AS EXPECTED
"The performance-based division has continued to be impacted in 2019 by the well-documented headwinds which have affected both topline revenue and profitability. "
https://www.investegate.co.uk/tremor-international--trmr-/rns/interim-results/201909240700083776N/
Since interims, they closed perk.com -losing millions of Premium Dedicated Users... plus loss of cash and revenue, in fy2020 onwards...
Perk.com closing:
"Due to changes in the company direction, all Perk applications will be shutting down on December 1, 2019. Users will need to redeem their Perk Points by November 20, 2019, or the points will expire. Thanks again for all your support these past several years!"
www.Perk.com
rusty
"Have Shroeders not consulted Stt1 added again."
Shroders had 15.2% of Taptica, now TRMR before their merger with rthm... and the long slide in the sp..
Blackrock held 15% of Blinkx, now rthm, before the sp crashed. Bought at significantly higher prices..
Tosca held nearly 30% of Rthm not that long ago.. bought at significantly higher prices...
What happened to Richard Griffiths, he was a significant holder in rthm?
Has never meant anything...
I think Shroders are trying to average down...
;-)
It's well worth reading Finncap's Apr 2nd Notes, which was published following the rthm merger.
Compare the note to the recent TU figures. You'll see there was a huge miss on several metrics...
Extracted from gowlane's post on adv:
"Well on 2 April 2019 they were forecasting 2019 revenues of $495m, net cash of $113m, and bottom line reported earnings of $9.8m.
Now on 06 January 2020 they are forecasting 2019 revenues of $325m (down 34%), net cash of $75m (down 34%), and bottom line reported earnings of $1.1m (down 89% - and they will be lucky to make that). Ouch! Ouch! Ouch!
Significantly there is an ominous item in the latest forecast balance sheet of ‘other liabilities’ of $78.6m – that was not there in the April report – at least it was a mere $30m just up $10m from a year before hand, but now up $58m!"
JinkyJ
"Dollars dollars and more dollars, Pounds pounds and more pounds."
The tipsheet article is misleading, they are using £ instead of $ so inflating figures. They are therefore, misquoting Finncap's figures.
I've stated this before, yet you keep re-posting the tipsheet article.
Are you trying to pull the wool over reader's eyes?
Have a look at the finncap notes and the company results or news articles. They correctly publish results and expectations using $. The tipsheet is misleading.
https://www.investegate.co.uk/tremor-international/rns/interim-results/201909240700083776N/
Safi,
"Not impressed with the $325 million full year figure though"
Exactly. Especially as rthm on it's own, pre-trmr merger, were expected to show $350m-$380m..
Also crucially the $325m and cash INCLUDES operations that were closed during the year, as stated in their interims. Plus of course the revenues and cash lost due to perk.com, which closed last month.
Therefore, revenue and cash from these discontinued operations will not show in fy2020 results.
I don't think revenues and cash contributed by Unruly to fy2020 will sufficiently replace lost revenue and cash due to Perk.com and other discontinued operations closing during 2019.
Muz
"Just maybe they see a future in Tremor."
As well as shares in Trmr, News International are also getting guaranteed £30m ($39m) revenue from Trmr, without the headache of costs associated with Unruly. Given Unruly's revenues were around $57m pa, that's a good deal FOR News International.
The paltry price paid for Unruly rattles the consolidating ad tech market
"With the transaction valued at about £15 million ($19 million), News Corp will receive about 7% of Tremor’s stock. Tremor is also guaranteeing News Corp £30 million ($39 million) in revenue over the next three years as part of the deal"
"Loss-making Unruly was never fully integrated into its parent company and continued to work with other publishers, offering a marketplace that connects buyers and sellers to video ads. "
https://digiday.com/media/paltry-price-paid-unruly-rattles-consolidating-ad-tech-market/