Member Info for stt1

Rusty,
"there has been no profit warning"

My understanding is that under SEC rules they are not able to say anything from 2 weeks prior Qtr end until results.
2 weeks before Qtr2 end was mid June. They listed 3rd week of June.

So no news doesn't mean anything.

Anyway, for H1-2019 they announced a profit warning without any prior warning.

SNN,
"over the last 2 to 3 years the company has got a lot better at managing expectations "

Can you please post the expectations v actuals for the last 2 to 3 yrs.

The company news doesn't show they have been good at managing expectations.
Just looking at 2019 as an example, when they merged with rthm.

The media were reporting total revenues $700m
https://news.sky.com/story/video-ad-firms-forge-bigger-google-rival-with-260m-merger-11621590

Fy2018 BoD confident:
"We are however confident that the Company will strive to deliver further outperformance, continue the agility that we have shown in adapting to the shifts in market dynamics and gain more confidence with investors as we improve our financial performance. "

https://www.tremorinternational.com/wp-content/uploads/2019/03/2018-Full-Year-Results-Statement-19-March-2019.pdf

H1 2019:
Profit warning:
https://www.tremorinternational.com/wp-content/uploads/2019/09/TRMR-Interim-Results_Final-240919.pdf

Why do you think the BoD have been good at managing expectations over the past 2-3yrs.

There were 2 x £1m sells at 8.15 this morning.

Just,
" 6 shares bought @ 36p"

lol
There were a further 5 shares at 3.09pm..

Breaking the piggy bank.

SNN
"No need for panic until definite news from the company,"

The IPO, discounted placing were definite news from the company, weren't they?
But yes, wait for the NEXT company news and if that fails, the one after that.

qwerty.

Yes, agree what next. They were supposed to have surged:

At IPO/placing/quiet period ends/broker notes and targets... All of which didn't happen. Disappointing reaction, as expected.

The sp is still below the 840p high reach in June, pre- these events.

Maybe Q1/H1 will help? or if that doesn't work, try for fy2021.

All the while the Alphonso court actions get closer.
What will happen when the IAB is taken to court?

Now what??
Back vicious circle, US following UK following US, up or down, watching paint dry until next company/sector news...

Always best to read the company/sector newsflow and form your own opinion.

Readers would be very naive to follow any BB/social media posters or only brokers.
Read the company/sector newsflow, all bull/bear points. It's your money.

Yield_Fanatic posted on here a couple of times and then disappeared after I countered his posts.
https://www.lse.co.uk/profiles/yield_fanatic/

Yield_Fanatic was introduced by Radium1 on 28th May pre-IPO, when the sp was 820p, as an "intellectual counter" - see Radium's post "Yield_Fanatic"
https://www.lse.co.uk/ShareChat.asp?ShareTicker=TRMR&share=Tremor-Int-Ltd&page=11

Yet Yield_Fanatic was proven wrong with his analysis on trmr.

Dispute being proved wrong, Radium is now telling readers again to read Yield_Fanatic's on twitter. Very odd..

Do your own research and don't rely on BB posters or social media.
It's your money.

Nasdaq currently pre-open sp $18.32 or eq 663p.
Nasdaq pre-opening down 8.67%.

In the vicious circle I've mentioned. US following UK following US until news.

IPO/Placing/Brokers notes and targets. all completed. Disappointing reaction.

As expected.

What's next?

Ballymoss
"It was mentioned at the very end of the Q1(I think) RNS as a post balance sheet event"
"It's highly speculative that it will impact the profitability or cash flow at all"

That's the point, the court filing was post Q1. It will be several months before anyone knows the impact from losing Alphonso.
There are several challenges due over the next 12-18 months. I don't see many others posting with links to back up their opinion.

In terms of working capital needs, in Dec they said. This was before the Alphonso court filing:

"Although the Company have paid dividends and share buybacks in the past, the Company does not anticipate paying any dividends in the foreseeable future. The Company currently intend to retain future earnings, if any, to finance operations and expand its business. "

https://www.tremorinternational.com/wp-content/uploads/2021/03/TRMR-Final-Results-100321.pd

in case you missed it:

https://www.investormeetcompany.com/investor/meeting/full-year-results-for-the-12-month-period-ended-31-march-2021

Dynaheir,
If you read Radium's post from July 16th at 21.13, 2 days ago, then you'll understand why some appeared here:.
https://www.lse.co.uk/profiles/radium1/

It seems like he was looking in the mirror when he wrote it!!!

When there were posts with company news they appeared to post with new headings to push the company news further down the list, hoping anyone looking don't notice company news.
Now there's the persistent 'intelligent' persuasion aimed at individual holders to persuade them to sell.

It works the other way when ramping.

Read his post and it'll make sense.

Everyone should read the company/sector newsflow, bull/bear posts and form their own opinion.

Mdumba
"What evidence do you have that that affected working capital in any way whatsoever. Especially when revenues are rising anyway."

What has rising revenues got to do with the Alphonso court case or working capital? They are completely different and unrelated. A business can earns millions and still have working capital requirements.

In any case the Alphonso court case was announced in May, post Q1 and I think it will be months before anyone really knows.
What evidence do you have of that there will be no or minimal impact from losing Alphonso?

They mentioned the alphonso court case in May, post Q1:
https://www.tremorinternational.com/wp-content/uploads/2021/05/TRMR-Q1-2021-Trading-Update-250521.pdf

Mdumba,
"The underlying point is that, if cash is needed for working capital it is there"

Exactly, that's my point, I think they raised cash so it's there for working capital, ie because of the way inventory payments work and because of the loss of Alphonso, their data provider.
We got there in the end.
;-)

Dynahier,

Me too. After his attempts in Feb, the sp fell to below 30p and I was adding.

I think he's suggesting 20p because he knows I posted that I added in Feb, because the NHS proposals were expected.

Everyone should read the company/sector news.

;-)

Radium,

Talk, without any links, is cheap. If you're convinced they will go to 20p then feel free to short them.
Present a proper bear case, list your reasons and then I'm sure posters will counter them.

After all, you were proven to be completely wrong about the NHS proposals when you suggested TLY days are finished because of them.
I and others countered your points very easily.

SNN,
"If Q2 results are sh*t, then they would have pulled the IPO."

Why would they have pulled their IPO?

They appointed Stifel in Oct.
They quickly changed their view on the IPO in March.
The Alphonso court case was announced in May.
The IPO was in June.
H1 end is June 30th.

So how would they have pulled the IPO? It would have resulted in a collapse of confidence and the sp falling significantly.

I think they will say Q2/H1 expectations are significantly higher than Q1, especially as Q1 is a quieter Qtr.
The Alphonso court case, IAB court case etc challenges come later so shouldn't impact Q2.

qwerty is right to point out what if Q2 isn't as great.

Bru
"Now he says that he knows the reasons why equity was raised. "

You're twisting posts. I never said I know why they raised the equity, only the BoD knows for sure. However, in the industry ad tech companies need huge amounts of cash because of the way inventory payments work.

Answer these:
Why do you think they raised $148m when they already had $130m in the bank?
What was the reason behind the $22m debt provision in fy2019?

I'll await your answer.

Mdumba
"The two processes of borrowing and raising share capital have a completely different effect on the balance sheet."
"you also seem to completely misunderstand the advantages of having available working capital."

Absolutely, they do have a different effect on the balance sheet.
That was my point they raised the money to have available working capital.
Why do they need huge amounts of working capital? Because of the way ad tech model works.

My reply was to Bru who suggested Trmr doesn't need to borrow as they have vast amounts of cash. The impact on balance sheet you mention and the need for cash for working capital, the point I was referring to, are 2 completely things.

Bru's post:
"the fact that Tremor doesn’t need to borrow rather can laugh at your face with a whopping amount of cash. "

Tricky,
Have a look at this link from the company.
The $22m debt provision was because of the way ad tech model works, as I described yesterday evening (see earlier post in this msg stream).

Note 16B (2)
"(2) At 31 December 2019, the Group included provision to doubtful debts in the amount of USD 22,376 thousand (31 December 2018: USD 2,822 thousand) in respect of collective impairment provision and specific debtors that their collectability is in doubt."

https://www.tremorinternational.com/wp-content/uploads/2020/03/TRMR-Final-results-310320.pdf

The investor presentation

https://www.investormeetcompany.com/investor/meeting/full-year-results-for-the-12-month-period-ended-31-march-2021