Circassia Share Discussion Threads

[pro_s2009] 02/1/2023 06:10:50

Dont forget to get your entries in for the 2023 annual contest.



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[upomega] 31/10/2022 13:01:12

Meant to read Feno.

[upomega] 31/10/2022 12:14:01

Has anyone an idea as to how developments are progressing for home use Geno testing.

[masurenguy] 14/9/2022 09:11:50

New thread to reflect company change of name and to maintain ADVFN updated charts & newsflow.

[p1nkfish] 14/9/2022 08:13:36

My big mistake, thank you, corrected, looked at mkt cap column for another ticker.

Doh!

[chrysalis99] 14/9/2022 07:56:52

The market cap is north of £140m so cash is less than 10% of it

[p1nkfish] 14/9/2022 07:40:14

Very good gross margins, relatively low cost base, growth to go for, TA looks interesting on weekly and monthly, ready for a move up. Management incentives aligned with higher share price target, what's not to like?

[p1nkfish] 14/9/2022 07:35:14

Excellent, solid footing to work from. Nothing to dislike in those results.

[masurenguy] 14/9/2022 07:17:41

Positive set of interim results with net cash position at the end of August of £17.6m

INTERIM RESULTS FOR THE SIX MONTHSED 30 JUNE 2022

Oxford, UK - 14 September 2022: NIOX Group plc announces its unaudited interim results for the six months ended 30 June 2022 ("H1 2022").

Financial highlights

-- Underlying NIOX(R) revenue growth of 11% t o £15.5 million (excluding the effect of a one-off revenue item of £0.6 million recognised in H1 2021)

-- The Group generated an adjusted EBITDA profit of £3.2 million (H1 2021: £0.3 million loss), reflecting improved margins and a substantial reduction in the cost base

-- Strong balance sheet with no debt and cash of £13.8 million as of 30 June 2022 (30 June 2021: £11.3 million, 31 December 2021: £12.6 million)

Operational highlights

-- FDA approval for Beyond Air's LungFit(R) PH device received on 28 June 2022, initiating total milestone payments of $10.5 million over the next three years, with up to a further $6 million in royalty payments thereafter

-- Ongoing transition to distributor-led business model with new arrangements in the USA and China expected to drive scalable revenue growth

Post period end

-- Initial payment of $2.5 million received from Beyond Air on 24 August 2022
-- Net cash at 31 August 2022 increased to £17.6 million
-- The Company received approval from shareholders on 1 September 2022 to change its name from Circassia Group plc to NIOX Group plc

The Company will shortly be proposing a capital reduction scheme to shareholders for approval in order to provide flexibility to enable the Board to return surplus cash to shareholders, via dividends and/or share buybacks, if considered appropriate in the future

Ian Johnson, NIOX's Executive Chairman, said: "The Group has performed well in the first half of the year with good underlying growth in revenue and profits despite Covid-19 lockdowns persisting in China and the ongoing effects of Covid-19 on testing volumes in Japan. Cash generation remained strong with net cash at the half year of £13.8 million, up from £12.6 million at the end of 2021. Future revenue growth is likely to be driven by success in raising the awareness of the benefits of FeNO testing amongst clinicians, patients and drug developers, the continued expansion of our worldwide network of distributors and investing in the installed base of devices. The NIOX Group is now in a strong financial position to deploy its cash resources to invest in these areas and also to develop next generation devices, including a home-use device. The second half has started well with revenues for July and August taken together up 25% on the same period in 2021. Margins remain strong and costs are continuing at a much-reduced level. The Board remains confident of achieving management expectations for the full year, which were significantly upgraded in July."

[p1nkfish] 13/9/2022 07:30:51

Interesting capital reduction proposal.
Can see more of a buyback chance than special dividend.

[blackhorse23] 23/7/2022 23:42:28

Massive Overvalued stocks ... sales & mcap doesn't make any sense... invested in MCB (LSE) which is undervalued mcap 29 millions but revenue growth 3 percentage to 700 millions

[thedudie] 15/7/2022 14:47:12

Ha - agreed.

[masurenguy] 15/7/2022 14:08:35

Patience !

[thedudie] 15/7/2022 14:03:33

I bought some more of these yesterday ... thinking how great that statement was.
You do wonder what it will take to shift it though!

[chrysalis99] 15/7/2022 10:08:41

Thanks. What are their EBITDA forecasts (not quantified in the conclusion)?

[pro_s2009] 14/7/2022 18:48:17

This is the Singer final comment.....

[chrysalis99] 14/7/2022 12:54:44

Does anybody have access to Singer's research note published this morning?

[masurenguy] 14/7/2022 08:17:58

On the basis of the following comment I have added this morning.

"the Board believes that EBITDA for 2022 will, in the absence of any fresh lockdown restrictions in major markets, be significantly ahead of our May expectations."

[p1nkfish] 14/7/2022 07:54:41

Great to read, strong across the board.
Can't argue with "trading very profitably".

[masurenguy] 14/7/2022 07:32:30

Very positive update - onwards and upwards !

Trading Update

Oxford, UK - 14 July 2022: Circassia Group trading update for the six months ended 30 June 2022.

Highlights

-- Underlying revenue growth of 11% to GBP15.5m
-- Adjusted EBITDA of approximately GBP3.2m (H1 2021: EBITDA loss of GBP0.3m)
-- Strong balance sheet with cash of GBP13.8m (31 December 2021: GBP12.6m)
-- FDA approval for Beyond Air's LungFit device, initiating total payments of $10.5m over the next three years, with $2.5m due in H2 2022

Unaudited revenues for the six months ended 30 June 2022 were approximately GBP15.5m, up 6% on the same period last year (2021: GBP14.6m), with underlying revenues ahead by 11% (excluding the effect of a one-off revenue item of GBP0.6m recognised in H1 2021). Underlying clinical revenues grew 12% to approximately GBP13.0m (H1 2021: GBP11.6m, excluding the one-off revenue item of GBP0.6m), despite the effect of Covid lockdowns in China during the first half. Research revenues were ahead by 4% to GBP2.5m compared with what was a strong H1 in 2021 (GBP2.4m).

Management has continued to implement a distributor-led sales strategy, with the aim of improving the awareness of FeNO testing and the availability of NIOX(R) worldwide. The change in the business model has led to a reduction in overheads from GBP10.0m in H1 2021 to approximately GBP7.8m in H1 2022. This, together with strong gross margins largely driven by revenue mix, has resulted in H1 2022 adjusted EBITDA(1) of approximately GBP3.2m compared with a loss of GBP0.3m in H1 2021.

Unaudited net cash at 30 June 2022 was GBP13.8m (31 December 2021: GBP12.6m) with the Group producing a cash inflow of GBP1.2m in the period. Net rebate payments for the discontinued COPD business during the first half, were GBP0.7m. As announced on 29 June 2022, Beyond Air received FDA approval of their LungFit product, as a result of which Circassia is entitled to receive payments of $10.5m over the next three years plus up to a further $6m royalty payments, providing further cash resources for the Group. Circassia expects to release its Interim Results for the six months ended 30 June 2022 on 14 September 2022.

Ian Johnson, Circassia's Executive Chairman, said: "I am pleased to be able to report continued growth in revenues and profits in the year to date. The Company continues to benefit from a high degree of recurring revenues and is trading very profitably and generating cash. We indicated at the time of our AGM in May that EBITDA would be materially ahead of our initial expectations for 2022. With revenues continuing to grow, margins remaining strong and costs now at a much reduced level, the Board believes that EBITDA for 2022 will, in the absence of any fresh lockdown restrictions in major markets, be significantly ahead of our May expectations. Future revenue growth is likely to be driven by success in raising the awareness of the benefits of FeNO testing and continued expansion of our worldwide network of distributors. The Company is now in a strong financial position to continue to invest in these areas and is making good progress. I look forward to updating shareholders again at the time of the half-year results."

[brummy_git] 28/6/2022 14:08:51

Christopher Mills of Harwood Capital talks about circassia here (starts 30:10)

www.linkedin.com/posts/paul-hill-a5994116_vox-markets-fund-manager-interview-with-christopher-activity-6947490289783603200-5DnF?utm_source=linkedin_share&utm_medium=member_desktop_web

hxxps://www.voxmarkets.co.uk/articles/vox-markets-fund-manager-interview-with-christopher-mills-3caf5ae