Member Info for stt1

Last year the results were announced on 31st March, so should confirm whether the red flags are still there.
TU showed that adj ebitda for fy2020 is actually lower than the previous year.

Revenues increased due to:
- full year contributions from Unruly, bought Jan 2020,
- rthm(8 mnth contribution for fy2019),
- the hotly contested US Elections and
- covid.

Bear points.
Facts over the past year.
1) In March 2020, they published a huge 11fold increase in debt provision.

Then 6 months later
2) In Sept 2020, they published a $30m loss

Then 3 months later
3) The CEO sells 700k shares, 1/3 of his holding.

From fy2020 results, published March 2020:

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

H1-2020 Interims, published Sept 2020, 4 months ago

$30m loss
https://www.tremorinternational.com/wp-content/uploads/2020/09/TRMR-Interim-results-Q3-2020-Trading-Update-220920.pdf

The CEO then sold 1/3 of his holding last month.
https://www.tremorinternational.com/wp-content/uploads/2020/12/TRMR-Director-Dealing-16.12.20.pdf

fy2020 Adj EBITDA lower than 2019 and missed Finncap's expectations set in March 2020.

Ricky
The Trade Desk and Pubmatic, like Telaria operate one side of the ad tech model. Trmr operate the full stack, a model which The Trade Desk and Telaria rejected.

Removal of cookies was highlighted as an industry challenge a couple of years ago. The consequences of those and Apple's ITP will hit the ad tech eco system this and next year.

Telaria (Magnite) reasons for selling their TremorDSP.. 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/

Radium/Scorpion
"A shrewd investor". "Let’s see which one of them gets it right."

Did you follow this anonymous shrewd investor and load up at 550p/600p over the last few days and will hold for the huge gains?

Given you both proclaimed this shrewd, intelligent investor knows his stuff then why not follow his lead or are you hoping others are but won't do so yourself?

dynaheir,
" the priority seems to be to get barriers out of the way and make processes more efficient."

Exactly. Contracts will be awarded on merit and not competitive tender, which is great news for TLY.

The changes were expected and are great news for TLY. TLY have the business model in place to benefit from the changes and can easily adapt if and when need be.
I, for one, look forward to when the govn implement them.

scorpion
"As one of a number of people who have been encouraged by and communicated with Dags and Schroedar off public websites, they are very well researched, intelligent and transparent professionals with nothing to hide."

Well, there you go, so you(and Radium on Sat) proclaim that anonymous posters who added 100k shares (£550k-£600k) are well researched and intelligent, Radium claims they are shrewd...
Yet, neither of you have followed in their footsteps and also been adding at around 600p.

Why proclaim someone is shrewd, well researched, intelligent and then not follow them?

Eddie,
"they can and will put all those services together in-house and Save Taxpayers money down the line."

What about the hundreds of GPs working as self-employed, the agency nurses, the locums, the consultants working private/NHS, the cleaning companies, the catering companies etc etc.????

Or is it ONLY the services offered by TLY that you'd like to portray that will be handled in-house by NHS. ;-)

Scorpion
"Surely an open debate is healthier than anonymous post scoring?"

Exactly, open debate, that's what I've been saying for ages. So why don't they post their bull points online so it's an open debate. Then readers can form their own opinion based on the bull/bear, risk/reward. It's their money.

BBs are better when posters post about company/sector newsflow and let readers form their own opinion.

Otherwise discussions via email/PM is a closed debate.

As with any products in huge demand, other companies adapt and enter the market. Therefore, whilst Byot had a huge increase in orders in H1, I don't think it's continued at the same record level achieved during the early months of the pandemic (Q4, fy2020 and H1 2021, Apr-Sept).

One such example of others entering the market is Virusend - developed by the British Army. Within a few months, developed, tested, BS standards achieved, widely used and already on sale.
Developed in conjunction with the British Army and used by them across testing centres around the UK. Also on the UK govn website, so promoted by them.

"A breakthrough innovation, VIRUSEND is currently the only disinfectant available to home consumers that is a full spectrum bactericide and proven to eliminate the human strain SARS-CoV-2 Coronavirus (Covid-19 virus). Tested to the stringent BSEN:16777 standard, and developed in conjunction with the British Army (who already use it), this military-standard spray will kill Coronavirus in one minute. Or, to put it in plain English, this clever bottle is what you need at home to zap Coronavirus in 60 seconds flat."

https://www.lakeland.co.uk/46378/VIRUSEND-Multi-Surface-Disinfectant-Spray-Kills-Coronavirus-365ml

Army develops spray to kill coronavirus

https://www.gov.uk/government/news/army-develops-spray-to-kill-coronavirus

scorpion
"As one of a number of people who have been encouraged by and communicated with Dags and Schroedar off public websites, they are very well researched, intelligent and transparent professionals with nothing to hide."

In which case you (and Radium) MUST have followed their lead, filled your boots at 550p/600p+ and are holding for the huge rewards. As you claim they are transparent, you (and Radium) will also be - yes?.

I, prefer to stick to company/sector newsflow and form my own opinion.
It's my money.

dynaheir
" in general Totally appears to be flexible and happy to assist where they’re needed"

Exactly. They are on hand to handle any services if/when NHS requires it - the requirements change daily.

This about Heathrow:

"In addition to its usual services Totally is supporting NHS England through the provision of additional services such as the new service at Heathrow Airport, London, offering specialist support to people arriving into the country and requiring isolation. The list of changes to services and the provision of new services changes daily."

https://polaris.brighterir.com/public/totally/news/rns/story/r7nq31w

TLY in the right place, at the right time.

Eddie,
"The Bottom Line is that TLY services in the main are NOT that unique"

As you seem to know that TLY are not unique, go on provide the evidence - name other companies who already offer integrated care services - Urgent Care, Planned Care and Insourcing?

Radium,
Your post yesterday "A shrewd investor" "added 100,000 shares"

If you believe an anonymous poster is shrewd as they claim to add 100k shares then why don't you follow them, load up at 500p/600p+ and hold for the huge gains you believe will happen?
The CEO on the other hand sold 1.7m shares(17x more than your shrewd poster), a 1/3 of his holding. Do you think the CEO is not shrewd then???

I think everyone should read the company/sector newsflow and form their own opinion. It's their own money.

Bear points.
Facts over the past year - despite a bullish TU a year ago:

1) In March 2020, they published a huge 11fold increase in debt provision.

Then 6 months later
2) In Sept 2020, they published a $30m loss

Then 3 months later
3) The CEO sells 700k shares, 1/3 of his holding.

From fy2020 results, published March 2020:

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

H1-2020 Interims, published Sept 2020, 4 months ago

$30m loss
https://www.tremorinternational.com/wp-content/uploads/2020/09/TRMR-Interim-results-Q3-2020-Trading-Update-220920.pdf

The CEO then sold 1/3 of his holding last month.
https://www.tremorinternational.com/wp-content/uploads/2020/12/TRMR-Director-Dealing-16.12.20.pdf

fy 2020 fy2020 Adj EBITDA LOWER than 2019 and missed Finncap's expectations set in March 2020.

previous year's results:
period, revenue, adj ebitda, cash
2018, $276.9m, $44.1m, $54.4m *** no contribution from rthm
2019, $325.8m, $60.4m, $76.9m *** 8 months contribution from rthm
2020e, $404-$408m, $58-60m, $96m *** Inc full year contribution from rthm & Unruly

More on Google/Privacy.

I think there is an ad tech bubble and it will burst soon. I'm keeping an eye it and the following:

1) investigations into Ad tech model, gdpr/ccpa/rtb
2) investigations into Ad tech fraud
3) court cases affecting ad tech companies

Any major negative newsflow and the ad tech bubble can burst.

**************************************************************
1) investigations into/changes to Ad tech model, gdpr/ccpa/rtb Privacy/rtb

Industry article:

What Google’s latest cookie announcement means for top ad-tech stocks, according to analysts

The announcement raised questions in the industry about future initiatives from ad-tech players.
Here’s what analysts said about the shakeout and what it means for Google and public ad-tech companies.

https://www.cnbc.com/2021/03/04/what-googles-latest-cookie-news-means-for-top-ad-tech-stocks.html

Peter,
Following the tip in Aug, the sp rose sharply.
https://www.msn.com/en-gb/money/other/midas-share-tips-you-could-clean-up-with-byotrol/ar-BB180jlf

However, since then the sp has fallen back to pre-tip levels of around 6p.
Since the tip, the company published their fy2020 results and in Dec, they published their H1 results, which covered the period Apr-Sept. This was the period when there was heightened demand for all PPE, sanitisers/cleaning products.
The question is whether they have maintained the record levels of sales, ie £1m++ per month. I haven't seen any TU since H1 results confirming this.
Whereas during the early months of the pandemic they issued monthly TU saying record sales, £1m+ sales..

Facts from their H1-2021 accounts published Dec.

£590k increase in global consumer sales during H1 (Apr-Sept) when there's the biggest pandemic to hit the globe is not impressive.

So with the biggest pandemic to strike in a century they managed £997k (ex-royalty & licensing) of consumer sales!
That includes Boots, Homeandcleaning, direct website sales, global sales.

Consumer:
"H1 revenues more than doubled to £1.01m from £0.41m, including a small amount of IP-based income, versus nil IP income in the comparable period. Gross profit (on products) increased to £0.43m from £0.17m. "
"Elsewhere, sales across existing customers all increased in this segment, especially into Japan via our longstanding agents in pet and healthcare."

Professional Royalty & Licensing:
Royalty income:
fy2020 £780k,
H1 2021 £590k

FY2020:

"We also recognised revenue and gross profit from IP agreements of £0.78m, lower than the prior year (which benefited from one large IP agreement with Solvay SA)."

https://byotrolplc.com/wp-content/uploads/2020/10/FY-2020-web.pdf

H1 2021:
"including £0.59m of royalty and licensing revenue"

Royalty & Licensing income £591k (yes k)

See Segmental analysis

https://byotrolplc.com/wp-content/uploads/2020/12/H1-2021-1.7.pdf

Radium
"A shrewd investor". "Let’s see which one of them gets it right."

It's not a question of who is right or wrong. BBs exist to discuss the company/sector newsflow not to massage egos.

Are you backing your conviction and loading up at 500p/600p and holding for 2 yrs or just commenting and hoping others will?

In terms of shrewd investors, we've been here before. Read my previous posts, I warned about industry challenges, blnx/rthm's bullish comments and then failing to back them up when it comes to results, 2013-14 blnx eq sp of £28 before falling on events. 2016-17 rthm eq sp rising to eq sp 580p then falling on events.

So the current sp is around the same level as rthm eq sp in 2017 before it fell to around 100p.

Those shrewd investors held on. So is it 3rd time lucky for them?

SP180 reappeared after a few years. If you read his posts, he mentions Shroder, 1gw, BDC, Biffa etc . Were these shrewd investors when they were buying and holding as the sp fell and where have they disappeared to, given the current sp is around similar levels to rthm's eq sp in 2017 - the brokers targets are similar as well???

https://www.lse.co.uk/profiles/sp180/

Guaranteed 95% mortgages:
ith interest rates at all time lows, I think the govn is wrong to guarantee 95% mortgages. If buyers are mortgaged to the hilt then they are likely to suffer severely when interest rates rise, even if the rise is < 1%.

It doesn't solve the problem.

sw,
"apparently Google are very worried about the Ad tech sector and put the boot in"

It's not new, it's a continuation of the Privacy concerns/investigations.. GDPR/CCPA, Apple's ITP, the industry challenges going back to 2017 ... point 1 of my 3 reasons why I'm saying ad tech is a bubble. The 40% drop in Magnite's sp backs my view.

Read company/sector newsflow:

Google investigated over third-party cookie replacement plans

"Google announced in 2019 that third-party cookies would be disabled on the Chrome browser within two years and created Sandbox as a way of enabling people and businesses to submit proposals for how to execute open-web advertising without cookies.

However, the CMA has received complaints, including from Marketers for an Open Web (MOW) – a group of newspaper publishers and tech companies – which argue Google is abusing its dominant position in online advertising through the Sandbox initiative."

https://www.campaignlive.co.uk/article/google-investigated-third-party-cookie-replacement-plans/1704040

Google and IAB adtech targeted with more RTB privacy complaints

https://techcrunch.com/2020/12/10/google-and-iab-adtech-targeted-in-latest-batch-of-rtb-privacy-complaints/

Rusty,
for those invested in blinks in the later stages price corrections were not that common.

Really!

Blnx(renamed rthm, now merged with trmr) had a history of bullish TU but failed to back them up when it came to results. The sp tended to rise on the back of TU and falling based on events.

Blnx/Rthm: Rthm now merged with trmr
In 2013-14, the blnx sp quadrupled, from eq 760p to £28 on back of bullish comments, video is everything etc and then crashed 60% on the back of questionable EVENTS.

In 2016-17, previous US Election, rthm eq sp tripled from eq 188p to 589p on bullish comments before crashing due to EVENTS/industry challenges. As expected.

TAP/TRMR:

2018 as TAP, sp crashed from around 500p following the FB/Cambridge exposure.
2018 sp crashed following the ex-CEO allegations of fraud

Magnite & The trade desk each closed down around 8%. Pubmatic down around 13%.
Magnite down from $61, the CEO sold $1.7m of shares, to $40 now - a fall of 30% since week Tues ago..
Seems to be a downtrend. Ad Tech bubble bursting!!!

Backing up my point about an ad tech bubble. - previously quoted, industry challenges - privacy
Author's opinion of Ad tech bubble.

"For some time now, I have stated that I believe the second dot-com bubble would be the paid ads bubble. Prior to this change, I attributed things like ad fraud, ad blockers, lack of control over ad placement and messy attribution for why this bubble would burst. When you combine all those reasons with Apple’s announcement and the deprecation of third-party cookies, which will make ad targeting more difficult, I believe this will be the beginning of the burst of the paid ads bubble."

https://www.forbes.com/sites/forbestechcouncil/2021/02/10/what-apples-privacy-changes-mean-for-the-tech-industry/?sh=6e4c64ad6944

Tricky
"It seems then that in areas such as making patients healthy is not where Totally has a vested interest."

lol - do haven't got a clue about the TLY model..
So the Planned Care division, which provides PHYSIO, Dermatology doesn't make patients healthy!!!
Carrying out postponed ops on behalf of the NHS doesn't make people healthy!!! Reducing the huge waiting times for those postponed ops doesn't make people healthy!

A&E is supposed to be for, um. Accident & Emergency - the clues in the name.
The huge waiting times are because patients who don't need emergency care go there. Providing a service for non-emergency care (Urgent care centres) is the best way to reduce those unnecessary visits to A&E and save the NHS money.