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wouterius,
"How do you feel about GDPR nowadays? "
Last year the authorities worked with the ICO, which represents ad tech industry to ensure they comply with GDPR law.
Now the authorities are taking action against ICO.
Did you expect the authorities to take action against ad tech companies on 26th May 2018, 1 DAY after it became effective? Really?
Don't forget CCPA (Californian Consumer Protection Act) only became effective from 1st July 2020, so expect to hear more from that in the coming months.
Do keep up!!
;-)
6th November so less than a month ago:
Legal action brought against ICO over alleged Adtech GDPR breaches
https://gdpr.report/news/2020/11/06/legal-action-brought-against-ico-over-alleged-adtech-gdpr-breaches/
California Consumer Privacy Act (CCPA): What you need to know to be compliant
https://www.csoonline.com/article/3292578/california-consumer-privacy-act-what-you-need-to-know-to-be-compliant.html
Comparing their current update with their March 31st forecasts, before their forecasts were significantly reduced due to covid..
How are they doing against the broker expectations from 8 months ago, March???
They reduced expectations significantly in June and since have increased them but still lower than 8 months ago.
Finncap notes - free to register.
Finncap expectations as of 31st March were:
revenue: $424.9m, now $390-$400m, DOWN $25m
ebitda: $75.0m, now $50-52m, DOWN $25m
https://researchlibrary.finncap.com/File/View?file=62f9bbb9-4efe-49f7-a809-002552770f2a
From their TU:
"Revenues generated across October and November 2020 were the highest in the Company's history. "
Hardly surprising given the huge amount of money spent during the close run US Election. There's no US Election for another 4 yrs.
"Overall, it is anticipated that the Company will now achieve 37-43% revenue growth in the second half of 2020, compared to H2 2019."
They acquired Unruly in Jan 2020, so this year they will have a full contribution from Unruly, compared to nothing last year.
Tricky
"Magnite (SSP) was only formed in 2020, from Rubicon and Telaria,"
I mentioned both Rubicon and Telaria indivually, didn't I - perhaps have another go at twisting the post? lol They are mentioned in that article I posted in 2018 as the ones to watch, the ones doing well and they both merged. Trying to suggest there is a read across from The Trade Desk or Telaria/Rubicon without actually recognising that they themselves state the reasons for their success is because of their one-sided approach.
Tremor reasons for selling their DSP.. perceived conflict of interest
"Clients were also uneasy with Tremor servicing both the buy- and sell-sides."
"There's always been a little bit of friction because we were selling agencies and advertisers different products while we were representing publishers," Zagorski said. "And the people who plug into that sell-side platform would always be somewhat hesitant to commit to it in a huge way because we had that perceived conflict."
https://adexchanger.com/digital-tv/tremor-video-sells-demand-side-business-taptica-50m/
The Trade Desk (TTD) previously quoted as saying that their one sided approach was the key to its success...other companies have also ditched both sides...
"Many companies that tried to run ad tech businesses on both sides later have sold one side off: Rubicon shut down buy-side platform Chango, with then-CEO Frank Addante admitting the acquisition was a failure. Tremor Video just sold off its buy-side business to focus on the supply side. Amobee sold its sell-side business to focus only on the buy side. The Trade Desk, which has seen its stock skyrocket post-IPO, consistently cites its single-side, agency-focused approach as a key to its success."
https://adexchanger.com/platforms/appnexus-buy-side-falls-wayside/
"Rubicon Project stopped charging buyers, mainly after being sued by the Guardian"
There was a move to removing opaque fees. Rubicon reached an amicable agreement with The Guardian and moved forward. Many ad tech companies have removed opaque fees after the largest advertiser, P&G demand transparency - another point I repeated as a challenge.
Rubicon pubilically declared they had reached an amicable solution to their dispute over opaque fees. I haven't seen anything similar from Rthm/Dataxu over their court case. In fact their court case came to an abrupt end soon after Singer took over in 2018, a few months before he put the company up for sale.
rthm/DataXu
https://adexchanger.com/online-advertising/rhythmone-dataxu-tussel-unpaid-bills-hidden-fees/
rthm/DataXu court action..
https://www.pacermonitor.com/public/case/22028832/RhythmOne_LLC_v_DataXu,_Inc
Rubicon/Guardian pubically state their mutual agreement..
https://www.wsj.com/articles/the-guardian-and-ad-tech-vendor-rubicon-project-settle-legal-dispute-1539348209
The fact is the model used by Tremor is different from the one used by The Trade Desk etc for the reasons stated.
Spending review this week.
£3bn, for England, towards reducing NHS backlog.
£3bn for NHS, of which £1bn towards NHS backlogs in England. £500m towards Mental Health services.
TLY's diversified business should benefit from money towards NHS backlog and Mental Health Services.
£3bn for NHS but Sunak warns of 'economic shock' to come
Where will the £3bn go?
- £500m will support mental health services in England
- £1bn will go towards reducing NHS backlogs, with up to one million extra checks, scans and operations paid for
- £1.5bn will be used to ease existing pressures in the health service
"The extra funding only applies to England but Scotland, Wales and Northern Ireland will receive equivalent funding."
https://www.bbc.co.uk/news/uk-55032782
£500m towards Mental Health
Chancellor to announce £500m for mental health
https://www.bbc.co.uk/news/uk-55031444
It's not a coincidence that the 3 companies, The Trade Desk, Magnite and Roku were mentioned 2-3 yrs ago by me as future success stories . They have a single sided approach to the ad tech eco-system. Rthm operated a full stack, which trmr are now doing. Rthm had a history of making loses.
Telaria demerged out of Tremor when they were Taptica because customers were uneasy about ad companies offering both sides of the ad tech eco system.
3 Ad-Tech Stories You Need to Know This Week
Telaria continues its sell-side turnaround journey
Since parting ways with its buy-side operations through the sale of Tremor Video to Taptica,
https://www.adweek.com/programmatic/3-ad-tech-stories-you-need-to-know-this-week-4/
Excellent presentation.
- Growing revenues, earnings and Cash
- No Debt, repeated several times
- Consistent dividend payments - no plans for progressive dividend during current climate.
- Cash generative.
Urgent Care Division:
NHS 111 growing - TLY's service ahead of other providers, eg Ambulance Service pass on some of the work to TLY, for which TLY receive a payment.
Gov plans to rename NHS 111.
No problems with cashflow as NHS a good solid payer
Planned Care Division:
Halted during 1st lockdown, Mid-Apr to June. Staff were furloughed. All furloughed staff now back.
Planned Care revenues down 50% compared to last year. Remobilised from Aug and back to 85% of pre-covid levels.
No impact during current lockdown.
Insourcing Division:
Impacted 1st lockdown, Apr-May, remobilised June.
Ireland worked every day.
No impact during current lockdown.
Current run rate £3.5m per month.
In England there's an increase of 4m patients on the waiting list.
Investor Presentation available online at:
https://www.investormeetcompany.com/totally-plc/register-investor
The investor presentation tomorrow at 1pm.
https://www.investormeetcompany.com/totally-plc/register-investor
Bumble,
" they are now in the black "
Yes gone from loss to pbt during a pandemic where Planned Division's revenues fell because of covid and Insourcing Division's ops were halted during Apr-June.
Their diversified business model means during pandemic 1 division mitigates any downturn in another. However, post Covid, all divisions should be growing.
Robust performance in unprecedented times.
H1 prelims:
Ebitda Profit, Revenues up, cash up £12.3m. Paying dividend.
Mcap £32m!!
· Group turnover of £54.1 million (H1 2019: £49.2 million)
· Gross profit of £10.2 million (H1 2019: £9.8 million)
· EBITDA profit £2.3 million (H1 2019: EBITDA profit of £1.3 million after exceptional items of £0.8m)
· Profit before tax £0.1m (H1 2019: £2.6 million loss before tax)
· Cash at bank of £12.3 million (31 March 2020: £8.9 million)
· Proposed interim dividend of 0.25p per share to be paid in February 2021
https://polaris.brighterir.com/public/totally/news/rns/story/xl6lo3x
The interims are tomorrow, not the investor presentation.
https://polaris.brighterir.com/public/totally/news/rns/story/w11z29w
The investor presentation is on Wed at 1pm.
https://www.investormeetcompany.com/totally-plc/register-investor
Malbright
"Trade Desk results last night were really strong with both revenue and earnings well above consensus. "
The Trade Desk(TTD) operates a different model to Trmr's.
TTD is a one sided model, Demand Side(DSP) whereas Trmr is using Rthm's model of 'full stack'. TTD have previously stated their success is because of the one-sided model.
Despite operating a full stack for years, rthm had a history of losses.
"“As advertisers come under pressure to prove the ROI of their campaigns, to take advantage of the mass consumer shift to streaming TV, and to consider alternatives to user-generated content, our investments in these areas are paying off,” Green said in a statement.
https://www.adweek.com/programmatic/the-trade-desk-sets-record-earnings-as-marketers-embrace-programmatic-advertising/
Tony
"have been invested in the company for a significant time (years). "
Lots of shares are up significantly because PIs sentiment and so being chased higher. The same happened during the dotcom boom.
The AGM is next week and the interims in a few weeks.
It's best to wait until the results to see if their revenues, profits, cash have grown exponentially to justify a £33m Mcap.
After all, look at the graph, the sp was significantly higher in Aug before the fy2020 results were published and fell back since.
BBs are better for everyone when the bull/bear points of the company are discussed.
Given you're been invested here for years, feel free to list the bull points. Feel free to say why, given the biggest pandemic to hit the world in 100yrs, the company only made £6m revenues, £250k adj ebitda for fy2020 and their broker only expectations are only £11.5m revenue and £1.5m adj ebitda for fy2021?
Given you've been invested for years, you will know that Byot signed a multi year, multi million pound deal with Rentokil Initial after the last spike a decade ago.
The £6m revenue for fy2020 was with multi country, multi million pound deals, which they signed after the last spike following Swine Flu a decade ago..
eg. Rentokil Initial..
MULTI Country, Multi Million Pound deal - What happened???
What happened?
The deal promises to be a multi-million pound contract for the anti-microbial products developer
https://www.cleanroomtechnology.com/news/article_page/Byotrol_agrees_multi-country_product_deal_with_Rentokil/62707
Tony_S
"There is a lot to like here "
profile created today and know what's been posted over the past 10months.. ;-)
Yes, a lot going on. So why aren't their revenues, profits increasing significantly?.
The company incorporated in 2005, 15 yrs ago.
Fy2020 results, which include a spike in Feb/March against expectations are:.
The actuals v expectations - (actuals include spike in sales Feb/March, expectations ex-covid):
Revenue: £6.07m, expectations £6m. (Only up 1% thankfully spike sales in Feb/Mar)
Adj Ebitda: £0.26m, expectation £0.4m (DOWN £0.14m)
GP: £2.89m, expectation was £3.2m (DOWN £0.31m)
Net Cash: £1.42m, expectation was £2.6m (DOWN £1.18m)
Finncap notes, free to register:
https://researchlibrary.finncap.com/File/View?file=7094521d-4d9d-42a3-864b-af02865358d5
https://byotrolplc.com/wp-content/uploads/2020/10/FY-2020-web.pdf
A lot going for them but not backed up in the results.
Mozax,
"And you choose not to pass comment on the very good link posted by ‘artrader’"
There are lots of so called "research reports" out there telling you how much they think the hand sanitiser market maybe worth.
This one predicts $5.8bln (1/3rd of the one Artrader posted). Take your pick... This one also stated "Alcohol" based sanitisers are more effective. Byot's is non-alcohol based.
Take your pick on which "research article" you want. ;-)
Even better I'll repeat what you said about broker's expectations.
"Crikey, if we all bought & sold shares on what 'Research' articles thought we’d be in trouble." lol
"Hand sanitizer is an antiseptic liquid, foam, or gel used to inhibit the spread of infectious microorganisms and other harmful bacteria on the hands. Alcohol-based hand sanitizers are generally more effective in eliminating microorganisms. The hand sanitizer is used to address microorganism's immune to soap and water. Alcohol-free hand sanitizers constitute another type of sanitizer. These do not strip away oils from the skin and retain moisture."
https://www.prnewswire.com/news-releases/hand-sanitizer-market-anticipated-to-reach-5-5-billion-in-2024---reportsnreports-301030822.html
Mozax,
" if we all bought & sold shares on what the brokers thought we’d be in trouble."
You clearly are. You go on to mention the 'market expectations', which are from, um, the brokers..lol
Covid was the golden opportunity for Byot - a missed opportunity as others have entered the market.
TLY will announce their interims on 9th Nov, next Monday.
Investor Presentation on the same day.
https://polaris.brighterir.com/public/totally/news/rns/story/w11z29w
Look at the graph. These were sold down recently.
I think it's the same PIs now buying back the same in smaller amounts to push the sp higher before the next lot of dumping.
Best read the recent results. They announced £6m revenues for fy2020, which included the spike in sales in Feb/March and broker expectation is only £11.5m revenue for fy2021. Given we're in the biggest pandemic for 100yrs, I would have expected a significant increase in revenues, profits and cash.
Other companies have adapted and come into the market.
It's too little too late. Covid has been around for a good part of a year and competitors have already adapted to the market needs.
They should have been making significant revenues, profits and cash since Feb, yet their fy2020 results show just £6m revenues.
Now there isn't a shortage of cleaning products nor hand sanitiser as other companies have adapted:
Also in the early stages, everyone was scared, using hand sanitiser, cleaning products etc..
Now office workers have been told to work from home. There's thousands of people out on the streets, who don't care anymore. Why do people at home need sanitiser. Therefore, there's lower demand for sanitiser and specialist cleaning products.
Companies have adapted...
Cif anti bacterial, kills coronavirus... 700ml bottle for only £2.
https://www.sainsburys.co.uk/gol-ui/product/all-purpose-cleaners/cif-antibacterial-multi-purpose-cleaner-spray-700ml?src=ppc&gclid=CjwKCAjw2dD7BRASEiwAWCtCbzD4UWaGci0qvF-9Ed62U4mbfndHlcbtHTKNOKSdK21-Y5NLay9UOhoCg_kQAvD_BwE&gclsrc=aw.ds
Liffey/Nonnymass,
It's suits some posters not to mention/discuss last week's TU, given it wasn't good.
Morningstar article:
40-50% fall in profits..compared to last year!!!!! Ouch..
Tremor Warns Of Annual Profit Fall Despite Revenue Growth
"Israel-based advertising technologies firm - Expects adjusted earnings before interest, tax, depreciation and amortisation to be between USD30 million to USD36 million for 2020, down 40% to 50% from USD60.4 million."
https://www.morningstar.co.uk/uk/news/AN_1603287173201506500/in-brief-tremor-warns-of-annual-profit-fall-despite-revenue-growth.aspx
Finncap notes:
If you read the Finncap forecasts from 31st March and compare with the June and current note:.
They reduced expectations significantly in June and since have increased them but still significantly lower than 6 months ago.
All they have done is significantly reduce expectations half way through the year then increase them slightly since.
Therefore, their expectations are still significantly below 31st March levels.
Finncap notes - free to register.
Fact:
Finncap expectations as of 31st March were:
revenue: $424.9m, now $330m, DOWN $95m
ebitda: $75.mm, now $33m, DOWN $40m
https://researchlibrary.finncap.com/File/View?file=62f9bbb9-4efe-49f7-a809-002552770f2a
3 years results:
This shows they're only expecting an increase of $25m over fy2019 and a significant fall in adj ebitda, despite a full year contribution from Rthm and Unruly.
period, profit/loss, cash
2018 276.9m 44.1m 54.4m *** without any contribution from rthm
2019 325,8m 60.4m 76.9m *** with 8 month contribution from rthm
2020e 350m, 33m, *** $25m increase, yet with FULL YEAR contribution from rthm & Unruly
Read the company newsflow.
Stevie
"i knew it had nothing to do with Spain"
The US and UK suppressed news of the 1918 Pandemic to maintain morale during WW1. Spain, being neutral, there was widespread reporting. Hence it was called Spanish Flu.