Batm Advanced Communicat... Share Discussion Threads

[kooba] 12/3/2024 11:27

Very , very early days to call a fundamental change in the business..so far very little has changed but maybe there are signs of early shift to marketing sales..whether that translates into revenues is yet to been seen, the company has invested significant money and time on predominantly two new growth areas Edgility and ADOR and as yet neither is showing signs of getting a return.
They way the company has just ignored another miss and from my recent posts ignored a huge down round in ADOR which must reflect lack of progress that i don’t like ..they just act like everything is just fine and dandy and continue to fail to deliver.
Hope your renewed enthusiasm is rewarded.

[echoridge] 12/3/2024 11:14

The 'netcash' is a figure that isn't used often and is net of leases, etc. so the 40m is a like-for-like success relative to gross cash at the interims. However, as for FORECASTS, its quite possible that number may fall, as I wasn't referring to the future. fwiw though, that cash fall projection is completely consistent with what I see as a company (finally) set on a path to move from R&D-driven to sales & marketing-driven, where expenses are now more directly focused on revenue generation and thus BATM are more likely to starting BEATING forecasts than the opposite. Its this fundamental business model shift that, for me, ungirds and makes the strategic restructuring moves in 2024 - for so long promised but un-delivered upon - so much more credible and likely.

[kooba] 12/3/2024 10:18

Echo your cash point does not align with the broker research

“At 31 December 2023, the Group had cash and short-term investments of $40.8m (31 December 2022: $44.2m).”

Thats clear enough gross position but doesn’t say that is a net figure which i think they define as net of debt and lease commitments.

The broker research today states net cash $26.3m ( $28.8m) and is forecast to fall to $24.1m current year. So cash is falling by over $2m a year.

[kooba] 12/3/2024 10:00

Oh and the adjusted 2024 PTP estimate is now $2.8m and was $6.9m before these results..if that is not another warning of not meeting market forecasts on the QT.. then what is.
Seems the company through Shore guidance is not worth the paper it is written on as they have not been close for years now…always having to pull guidance down.

[kooba] 12/3/2024 09:49

I note Shore are pulling back their 2024 revenue forecasts too..was
For 2024 the forecasts are not predicting some high real growth rates..
2024E T/O $153.6M EBITDA $$13.5M adj PTP $6.9M net cash $28.9M

Now 2024E T/O $143M EBITDA $9.4M

Quite significant when they try to put a grow spin on things!

I afraid they are serially missing their own brokers forecasts and continue to do so whilst not acknowledging the fact !

[kooba] 12/3/2024 09:44

$3m of currency gains ??
Reduced r&d spend
On balance the business is not really profitable and there is no clear line of sight to get there for now.

[kooba] 12/3/2024 09:31

R1 Do you not think the company should include that if it is correct in their divisional analysis..perhaps you could point out to the company that the business they just put more money into is further down the r&d road than they are letting shareholders know about ?
I’m afraid as always everything is jam tomorrow..and maybe that jam does arrive but for the time being there are no profits and no growth ..the balance sheet may support the price but the earnings don’t.

[car1pet] 12/3/2024 09:30

12 months ago I said the CEO was a BS consultant full of words about billion dollar opportunities. Sadly he doesn't seem to realise he is an actual CEO and needs to deliver. Consultants only deliver words. I always intended to sell at 30p but it never got there. I see the same old group of optimists are on this board. Wake up and smell the coffee you must all be pet lovers cos this share is a dog

[resistance1] 12/3/2024 09:14

This update on Ador was superseded with Adors own recent news stream we discussed which said pre-clinicals were complete and they were starting clinical trials

[kooba] 12/3/2024 09:07

The only thing i can take from these are they do appear finally to be focusing on sales and marketing more at long last..but generally another disappointing year and the foreword looking as mentioned is rather scarce an any positive detail.
Will try to make the call tomorrow but so many questions need answering on how they are to deliver shareholder value with some evidence rather than just words that don’t pan out.

[kooba] 12/3/2024 09:03

They still missed forecasts ..in a year when they talk of inflationary pressures everywhere two key revenue streams fell. The ADOR update is dire in my view..
This sounds so early stage when we were promised revenues end 2022 and products to market , this sounds like they are no where near even now.

‘..achieved a key milestone with the commencement of pre-clinical trials of the NATlab at a hospital. This has generated valuable insights, which the Group is now using to enhance its biological process and improve the NATlab product.’

No update on next steps no estimate of any commercialisation. Very poor.

[wallywoo] 12/3/2024 08:55

Share price seems to be agreeing with me. This is valued at 30% less tangible net assets. The future direction of the company seems a bit fuzzy. The strategy, is either poorly communicated or weak. Leadership seems weak.The low valuation will remain until BATM can add more meat to this strategy.

[echoridge] 12/3/2024 08:54

Most bullish on the Company's engagement (ie., its already well underway based on significant investment commitments in these results) in a genuine strategic restructuring I've ever seen with Shore Cap analyst. In my view, market's initial reaction so far is wildly off the mark, and I think share price can and should be much higher in a few weeks so long as the investor marketing over the next week is conducted aggressively. I will write a full post after the close with as specific details as I can, but my initial view is this is what I've been waiting for, one year late....

[wizzkid211] 12/3/2024 08:35

WALLYWOO Why not sell a business if its doing nothing like the shredding sterilizing

[wallywoo] 12/3/2024 08:25

Nothing new on that 3 minute video. I don't think any disposals are close. All seems a little vague, this new strategy. Why make disposals? They don't need cash.Is it to return cash to shareholders? Make bolt on acquisitions to cyber or networking?All clear as mud!!!

[resistance1] 12/3/2024 08:09

On YouTube

[paulisi] 12/3/2024 08:04

Where is the video?

[wizzkid211] 12/3/2024 07:56

its obvious to me they are going to sell the shredder-sterliser business

[resistance1] 12/3/2024 07:55

The results were never going to set the world alight. Large contracts for Edgility will or news when ADOR Natlab is market ready or perhaps approaches.

[kooba] 12/3/2024 07:33

Going to go through in detail later but looks as always jam tomorrow and these numbers do not seem to hit forecast revenues.
So one should expect them to be on track to meet Shore capital shop broker forecasts for FY2023. Which are ( from Oct 2023.)
2023E turnover $131.6M ($116.1M) EBITDA $10M ($8.3M) Adj PTP $3.4M($1.9M) giving EPS OF 0.4C.

They do not seem to be profitable to be fair…currency adjustments were biggest plus.
Cyber main positive as expected.
Networking and diagnostic revenues small downs..they are meant to be the growth feeders.
The “secondaryR21; businesses , i guess mish mass of non core distribution businesses saw revenue growth (likely just inflationary) and contribute 50% of revenues.

Rather unconvincing that we are at inflection points on new products and little info on ADOR commercialisation.
Uninspiring to say the least and less puff in terms of forward looking , whether that is a more realistic approach to managing expectations or that there is not much to look forward to is debateable.

[cumnor] 12/3/2024 07:32

Looks good-understated in typical BATM fashion. This is a growth company-with a few irons in the fire within the tech-hardware and software space and diagnostics. If any come good these fly. It's not a dividend company, yet, nor does anyone want a 1P divi. It's like many in the US tech sector. All we need is the same market recognition, and valuation. Happy with the results.

[paulisi] 12/3/2024 07:28

Read through the report and slightly underwhelmed that they didn't have any new contract news and the outlook statement didn't provide much detail.The numbers are solid, but that was known.Will be interested to see what Shore Capital report.

[wallywoo] 12/3/2024 07:17

Results look fine. No dividends though, nor any mention of one in the future. This seems silly to ignore rewarding shareholders. I think that will hold the share price back. Be interesting to see how this trades today.