Member Info for tommy15

It's a wall of red, and yet no-one is buying at these prices. Don't understand it!

True, though in 2022 it wasn't until 11 April. So crossing fingers, but not holding breath.

Net income for the first half was $4.7M. That's from an "adjusted EBIDTA" of $6.5M.

They are projecting a FY adjusted EBIDTA of $12M, so $5.5 from H2.

But lets be super conservative and say that this $5.5M of adjusted EBIDTA translates to 0 of actual net income.

So that's a net income of $4.7M, or ~£3.9M, vs a Market Cap of £16.6, giving a PE of ~4.3, ASSUMING NO INCOME IN H2.

What on earth??

OK, it's not continuing to grow explosively after NY opened up; OK it looks like a while until the next big state opens up. But $50M of revenues is perfectly respectable, they have no debt, and they only have max $7.5M more deferred acquisition payments to make.

Why is this so cheap? What am I missing??

Thanks Jimmy, very helpful!

Is the second column the change? If so then yes looks like Killik - or one of their account holders - sold out big time.

It’s hard to know how much to read into this. The share performance has been terrible, people may be fed up, or need the money for other things. Do they have some particular insight into future performance that others don’t? Hard to know :-(

Where do you see those numbers for killik and PH?

Da_Master do you know why that cap exists? Does it exist for other shares?

Why not move to a different platform (e.g. II) that doesn't have such caps?

Do we really think there are 1000s of investors out there that would buy more MANO if only their Trading 212 account would let them?

Available to buy on ii for 121

What happened??

Ah yes, this board has been quiet for a while and I’ve lost track of who the good guys and bad guys are!

Although Canaccord coming out with a new lower target eps won’t help anything :-( maybe they’ll find an inventive new metric to talk up…

Surely this is the reason for the drop. Having to switch brokers because your current ones have lost interest isn’t a great look, and as Forensic says in the other thread PH are likely dumping their holdings and moving on.

So definitely not great, but hopefully only a temporary setback; let’s see if the new brokers can inject some enthusiasm

I don’t understand this thread. If you search Caseload for “Manolete” you get pages and pages of results. Presumably this is just business-as-usual for them.

Interesting point Forensic, yes let’s hope it’s that!

Just reread the December TU and today’s results, both revenue and ebitda, come in at the low end of the ranges given in that update, _after_ taking into account the trading disruption announced. So certainly a lackluster performance, yet again.

There’s no new information here. We know there aren’t many state launches lined up. They already told us about the issues with Barstool. “Consolidation” is exactly what we need - continue operating, signing partnership deals, and ideally more revenue share agreements. No more expensive purchases of websites, no more overhauling of the business model. Meanwhile the valuation is ridiculous. I don’t understand what the market expects of this share!

Don’t suppose anyone has an idea why?

I can see that forecast revenues have been revised down to $50-52M, but can anyone see what they were revised down from? We already knew they weren’t going to be as high as 2022, but we’re actual numbers given anywhere?

What makes you so sure it will get sold next year, when they explicitly say that no-one is showing interest at a level that would make sense for shareholders?

Is it just me or is the TU today barely penetrable?

"The second half of the year has seen revenues earned in previous years from August through October, in part moving back to mid-November onwards."

WAT?? I'm interpreting this to mean "The revenue in this August - October was similar to revenues during that time period in previous years (which previous years?!?), this gradually ramped up and by mid-November was back on track with how this year was forecast." But it's a lot of guesswork because the wording is gibberish!

From what I can understand, what actually happened is a bit of a "blip" - Casino operator PENN went from running the Barstool sportsbook to the ESPN one. Both Barstool and ESPN were XLM partners, but the nature of the process meant there was a period of a few months when neither was generating revenue for XLM. Obviously not great, but phrasing it as "a significant change in the revenue profile of the Group's North American activities." seems overkill!

I know it's been mentioned on these forums before, but these guys _really_ need to up their game when it comes to making these announcements!

Yeah it has been pretty quiet! Been going over this one and I just can't understand why it's so low.

Has the market decided that it can't handle the lack of predictability?

Hopefully there will be a buzz around the superbowl in a couple of months.

Forensic, what makes you say the business is operationally geared?

Mano have said this themselves, but it’s not intuitive to me. Presumably bigger cases have bigger purchase costs, higher legal fees, etc. Plus a larger share typically goes to the estate. Where’s the gearing?