maybe we will see 18p later this year |
Actually now just meeting forecast rather than serially missing and reducing them would probably be a confidence booster. On an earnings basis with no real growth and little cash flow the market is probably pricing this right until there is real evidence that it can get real returns on the assets owned..through earnings or sale.If they can actually deliver on the stated strategy even in a small way there is obviously room for significant upside but their jam tomorrow is spread very thin and no one is buying it anymore.If Moti and the CFO did bother to get themselves on the share resister though it might prompt some interest and mean they had done well by holding off so long when the business and share price floundered under their stewardship . The only thing with their options now is the price needs to rise by 50% just to get in the money...so at some point owning equity directly might be attractive to insiders...just hasn't been up to now!! |
It would be good after the results if Moti makes his first share purchase on the open market. This show of confidence would increase sentiment which is sadly lacking at the moment |
It's not all bad news for Moti though he took home $972000 last year ...nice! |
 Well it's over 2 years since Moti took the reins and promised a sea change in focus and delivery of the inflection points in new products that $10ms have been committed to ...that many on these boards believed would herald a serious revaluation.On 3 jan 2023 he was granted options over 2% of the company with a strike price based on the previous 30 days trading.The options were struck at 25.49p. Remembering that was after the shares had already cratered 70% in the previous 12 months before the award and that he has served as CFO for years before the appointment as CEO so in part responsible for prior performance.Over 2 years later the shares are trading at 17p ..a 33% fall over his term as CEO.If he had held those shares he would be £1.4m down...as it is he is down by nothing and presumably will just get replacement awards at some point or have these repriced to ensure that suitable incentive is restored!!How people think share awards align and focus executives on delivering when they take no risk along with their shareholders i have no idea. |
I agree it would be a big jump and that has not been evidenced by material orders ..the fact they are moving to multi year lows and a market cap of £75m also somewhat steers to a less than cheery outlook. The stated net assets of the company are £95m including a chunk of cash.At the half year"Net cash used in operating activities was $5.3m compared with an inflow of $0.5m in H1 2023. This primarily reflects an increase in receivables based on the timing of revenue collection and the effects of exchange rate changes on the balance sheet. At 30 June 2024, the Group had cash and short-term investments of $32.6m (31 December 2023: $40.8m; 30 June 2023: $41.9m)."Nb cash position at the end of 2021 $67.8mCash has haemorrhaged over a few years ..and it wasn't on a share buyback as very little was done of what they promised.Will be interesting to see the cash figure ..they always have some excuse around currency exchange rate..why is it always one way..a negative?? |
I'm always prepared to be surprised but an increased revenue of $21m would have been indicated by new orders and we've not seen many RNSs so ....... |
If they have missed expectation again and not informed the market as soon as they were aware of the miss..they would be in breach of MAR regulations for not informing of a material change in trading expectation. But they did just that last year ..so let's see.They must certainly have been aware since the year end if they were going to meet the guidance from the shop broker that they said they were on track for..let's see what comes out.If they meet it ..demonstrating a 38% jump in revenues in the second half it would show a very strong performance which could bode well going into current year....the share price and the recent continuing pressure does not lead me to think that will be the case. |
With final results due in the next few weeks and the company not putting out any trading update to rebase expectation the market should expect the results to be in line with expectation...though noting last year was a surprise large miss.Reminder on expectation"The shop maintained their positive stance and said the company was on track "Outlook: FY guidance, andso our forecasts, is unchanged at this juncture. Momentum continues to build.The H2 performance in Networking is expected to be much stronger than H1 across carrier ethernet and Edgility solutions. Cyber continues to deliver its large backlog with new orders. In Diagnostics, the customer base continues to grow. Into FY25F, we expect Edgility revenues to continue to build, Cyber is also expected to deliver its first revenues in commercial markets."So estimates Rev $143m ($122.8)EBIT $9.4M ( $9.3M)ADJ PTP $2.8M ($1.5M)So expecting a 16% jump in revenues for the year ( although the first half was flat)...interesting jump in second half expected.In 2023 they recorded $62.8m in the second half..second half 2024 they are therefore forecasting $83m..so are looking at 38% jump.Let's see what they report in due course..no trading statement ahead of results should indicate they are on track to deliver in line with market expectation and their guidance...though that proved not to be the case last reported full year when they fell well short of expectation." |
Kooba It was 250,000 shares sold 18th february |
Richard Griffiths closely connected to LOAM the largest holder in BATM selling ..Not sending great signals of any inflections points being reached any time soon. |
Over just 6 months BATM has underperformed the Tse125 by 40% the company isn't really making any money and have actually burnt through significant cash over the past few years ...they appear to be struggling to gain any real revenue growth even after a series of aggressive downgrades in expectation and have failed in executing the board approved strategy of refocusing the business.What the hell is the CEO doing apart from taking a salary far too high relative to enterprise value and still not feeling the need to own a single share in the company he is tasked to run..however low the shares go on his watch!!!Needs wholesale management shakeup and this business being run for shareholders not insiders...a new independent Chair would be a start followed by other external executive appointments. All far too cosy and not delivering any value for shareholders. |
Edge computing platforms are gaining business but other than select larger companies the penetration into the main market has perhaps been slower and harder to evaluate.
Thats does not mean to say its not happening it's just the details and the pricing we dont have so we are left to guess.
In BATM case they are already marginally profitable and have their basic costs covered. Even a limited number of high margin clients will move the bottom line exponentially because it's going to be basically all profit on top of the business they already do.
We should have been in a growth position by now so the question really is as to how they are doing compared to others.
Without the adoption of Edge Solutions a lot of applications are simply not possible. |
As of this month CitiFibre have reported 518,000 actual customers. They did not break out business ones. So although 4m private households and 800k businesses can hook up to CF (and subsequently Edgility), the customer number is still smaller than the headline figures may suggest. Extrapolating these figures they may have 80K businesses on the books at present, but that is a guess. I'm sure there is Edgility business in there in science parks or businesses that require edge orchestration. |
If the Company's position remains that the CityFibre contract remains intact, despite the rollout delay, then it is retains by far the highest profit profile of anything in the BATM's core businesses. Even a partial rollout to CF's 800k business customers, let alone the 4m private ones, will explode revenue growth and make a mockery of Shore Cap's forecasts for 2025. Even estimating a small, but material dent in CF's business customers and at a modest (and I think the real charges are higher) of a couple bucks per month per customer at margins near 90%, will quickly equal and then surpass the fast-growing cyber business, especially when you consider CEMEX is also ramping up. Unfortunately, the company don't break out Edgility numbers at present, but my hope is that as they become more confident of the rollouts, but BEFORE the best of the pnl impact, they will begin to do so, and then the market can start to better value this profit engine, because right now, the market is woefully undervaluing it. Oh yeah, and AWS! |
Come meet us at Mobile World Congress Barcelona - MWC 2025 this year in Barcelona! We’ll be exhibiting in Hall 5, booth E61 and look forward to meeting you! |
RESIST.
CELARE cyber div. have only one customer so far, the israeli military once they are allowed to go worldwide it should be different story |
Dream is expecting revenue to be $200m by end of 2025. The difference between Dream and BATM is that Dream has a clear strategy....... |
Yes Wizz I saw that Dream Security now has a current market valuation of $1.1bn based on annual recurring revenues of just $40m (2024). Doesn't the Celare Cyber div have recurring revenues of around $15/20m or just under? Once recurring revenues for the commercial cyber side start coming in (and providing a multiple client base), these sort of valuation multiples are on the cards |
If anyone was missing a final stamp of approval that Israel is a cyber power, this past weekend it happened: The three largest Israeli companies, or those with ties to Israel, in terms of market capitalization, are cyber companies. In other words, these are not just valuations written on ice in the private market.
Can you just imagine the cyber part of BATM goes into NASDAQ for a new listing... |
Another partnership announced the other day. We will probably get year end results and some comment by Mid March. They announced March 12th last year. So far have not heard any profit warnings.
Adaptiv Networks and Telco Systems Form Strategic Partnership to Streamline Virtual Edge Deployments for SD-WAN and SASE Solutions
Fort Lauderdale, FL — February 11, 2025 — Adaptiv Networks, a leading provider of cloud-native SD-WAN solutions, and Telco Systems, a leader in edge connectivity and network virtualization solutions, today announced a strategic partnership aimed at simplifying edge network deployments for large enterprises, telecommunications providers, and managed service providers worldwide. By combining Adaptiv’s secure SD-WAN and SASE technology with Telco Systems’ Edgility FlexConnect platform, the partnership delivers an agile, high-performance solution that enables reliable, secure, and easily managed edge to cloud connectivity for large-scale networks. |
Kazahkstan followed by Canada and then Australia have pretty well all the worlds Uranium plus a lot of oil. Its a rapidly growing region |
fse - got it? |
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