Calnex Solutions Share Discussion Threads

[supernumerary] 26/7/2022 19:54

Perhaps that's why they're so poorly paid? Ah well, no matter, as long as she keeps the books in pencil... ;¬)

[piedro] 26/7/2022 16:12

Why not panic when they cannot fill in the form correctly?

22,926 shares at £1.58 = £36,223.08 by my calculator

and not £33,223.08 .....
....... but perhaps things are done differently now'days

[rivaldo] 26/7/2022 15:46

Amazing really. The share price climbs lovely and solidly. Then an RNS appears noting that the CFO has sold a mere 23k shares and on this basis some punters appear to panic sell!

The CFO had 236k shares and 500k options, so this represents just less than a mere 10% of her direct holding. And the CFO is normally the poorest paid/less wealthy director, so it's entirely understandable. Sigh :o))

[hew] 22/7/2022 12:56

Not being negative about my firmly held investment but I see the share price simply recovering to a level around what it held before falling in company with the tech sector generally. Only CLX's solid strengths in a naturally growing field showing through. Sell first, then think about it applied IMO.

When the tide went out etc, CLX was seen to be sartorially sound - not so for all techs.

[rivaldo] 21/7/2022 07:52

Nice to see a pre-market 500 share buy at the full 160p offer price at 7.34 this morning :o))

EDIT - followed by another buy at 155p at 7.52 am....

[garth] 20/7/2022 16:40

Interesting that there is a similar movement in ENET and CLX?

G.

[disc0dave45] 20/7/2022 16:14

Tipped or broker upgrade?

[masurenguy] 06/7/2022 11:39

Thanks for posting that Cenkos research extract Riv.

[rivaldo] 06/7/2022 10:57

I thought this section from the recent Cenkos research note was useful as regards setting out the various growth areas CLX are involved in, as well as the benefit of the iTrinergy acquisition:

"Operating highlights The relentless move into the Cloud by enterprises of all sizes continues, with increasing numbers moving their business-critical applications and services into web environments. The needs of these companies are met b datacentre operators, a market dominated by hyperscalers such as Amazon (AWS), Microsoft (Azure), Meta Platforms and Alphabet (Google Services). The combined capital spending of these organisations on datacentre infrastructure has provided significant growth opportunities for companies providing computing and storage infrastructure, networking, security, telecoms and related sub-sectors.

The Testing and Measurement sector is another one benefitting from long-term and substantial tail winds, both from the relentless drive of cloud adoption but also the 5G transition. Calnex continues to focus on its product innovation and recent new products and upgrades have been very well received by customers.

Calnex’s support for very high-speed interfaces (up to 400G) as well as the various interface formats used in very high-speed interfaces (e.g. PAM4 – pulse amplitude modulation with four levels) has driven order-intake FY22. The focus on O-RAN Alliance conforming hardware by increasing numbers of equipment vendors has also driven business activity.

Research and development – evolving product portfolio

Investment in R&D has continued across all product categories, with a total of £3.9m R&D investment in the period (FY21: £3.3m). Calnex has hired 19 people during FY22, with the total number of employees reaching 113. Post period end, the acquisition of iTrinegy was announced, further increasing the total number of employees. We forecast a substantial increase to £5.3m R&D in FY23E, an increase of 35.4% versus FY22 and representing 19.7% of FY23E forecast revenue.

During FY22 Calnex released a new 5G Over-the-air (OTA) capability for the Sentinel Field Synchronisation testing solution, addressing emerging 5G signal formats, as well as the previous 3G and 4G signal formats with enhanced solutions.

In addition, as confirmed in the 1 March 2022 trading update with a large datacentre operator (hyperscaler) order, the implementation of time distribution across data centres has presented Calnex with the opportunity to develop and grow a new market opportunity for the Sentinel product range. This has been the driver behind the development of the Sentry product, essentially a rack mountable version of the Sentinel OTA tester, launching in coming months (see Chart 1). Calnex indicates that sales to hyperscale customers who are investing in their data centre operations are progressing well."

"As described earlier, enterprises c and supporting a reseller network, ontinue to migrate their applications and services into the cloud. This has generated a requirement to verify the performance of a pplications the cloud environment.

Whilst network hardware can be tested for performance and conformance with with in standards, this does not tell you how well applications may necessarily perform within real world network deployments. The iTrinegy NE-- ONE hardware and software platforms enable organisations, especially across the technology, financial, gaming and milita ry/government sectors, to accurately recreate complex, realworld network test environments to understand and verify the performance of applications before deployment in their networks."

[swiss paul] 14/6/2022 21:05

Good corporate governance as well in that guidance is for a max 9 year tenure

[rivaldo] 14/6/2022 07:34

Good to see the relatively new NED being so impressed at CLX that he's happy to move up to Chairman.

Nice quote from the outgoing Chairman after nine years in a job well done:

"I am confident there is a strong Board and management team in place and with its outstanding customer base, the ongoing transition of the telecoms industry to 5G and the growth in cloud computing, the future for Calnex is brighter than ever."

[swiss paul] 07/6/2022 22:16

Riv, am assuming it may be in response to demand

[rivaldo] 06/6/2022 18:36

Encouraging to see the strength this afternoon - after the RNS noting that TC sold 1m shares.

This was only 5% of his holding, and it's his first post-IPO sale. CLX shares likely represent much of his entire wealth (apart from those he sold at IPO!) , so it's hardly surprising that every so often he'll get rid of a few. Perhaps the more interesting aspect is that buyers were found pretty readily - there certainly doesn't appear to be any overhang.

[swiss paul] 26/5/2022 20:50

Nice presentation today courtesy of:



Also some nice vacancies knocking about:



Seattle? - yep the USA beckons

[rivaldo] 24/5/2022 14:21

Good coverage here with some analyst comment:



"Analyst Ian McInally of Cenkos Securities flagged a “buy” recommendation regarding Calnex, stating that it has seen the number and breadth of its customer base increase, and has a record order book. “Calnex remains strongly positioned to continue growth and benefit from the long-term industry drivers within the telecoms and networking markets.”

[hew] 24/5/2022 12:12

What excellent results!

Not only do they reflect CLX's current position and its near term future ("record order books"), but show that Tommy Cook is keeping his eyes on the horizon. Several horizons! His phrase "paving the way for accelerated future growth" is strongly illustrated throughout, reflecting the increasing demand from the emerging world of future communications technologies, the building of the scale and scope of CLX's capabilities and those of its staff, the addition of related business areas - Itinergy I see as very important - and the development of, and support for, routes to market, globally.

And, from that perspective, it's good to see the Results presented as serious companies do: numbers first.

All IMO.

[hastings] 24/5/2022 07:37

Yes, very impressive and looking well set.Have a call this morning with management but won't get a write up out yet, due to some technical issues!

[rivaldo] 24/5/2022 07:33

Results today to 31st March are really impressive and ahead of even the upgraded expectations.

Underlying EBITDA at £6.35m is well ahead of the forecast £5.9m, as are the adjusted EPS and the total dividend.

Above all, the outlook is very, very confident with record order books. If you've seen the usually incredibly understated CEO then you'll realise how meaningful this is.

Interesting to see if Cenkos raise their forecast for this year - likely they'll wait until later in the period.

There are many growth drivers here - 5G, cloud computing, data centres, new regulations etc.

Amongst the most exciting extracts are re the growth in data centres, and re this new product:

"This year, the Group expanded its portfolio by releasing a new Virtual SNE (network emulation) product, targeting engineering teams developing infrastructure products for deployment in networks hosted in cloud computing environments. While demand is at early stage, the value is in the strategic positioning of the portfolio to track this trend as and when it grows momentum."

and in particular re the new iTrinegy acquisition which hugely widens the potential customer base:

"NE-ONE hardware and software-based Network Emulation platforms provide organisations, primarily across the technology, financial, gaming and military / government sectors, with the ability to accurately recreate complex, real-world network test environments in which to analyse and verify the performance of applications, before deployment."

[rivaldo] 06/5/2022 07:33

News coming along like buses - SPT have issued a terrific trading statement today, driven by the growth in 5G, which must continue to augur well for CLX.

The outlook going forward is particularly confident:



Extracts:

"Strong Momentum Continues"

"The Group has continued the strong momentum seen in 2021, starting the year with 18 per cent order intake growth in the period"

"Encouragingly, the orderbook continues to build, and the book to bill was 112 for the first quarter, versus 104 in 2021. This performance highlights the continual progress made by the Group as it seeks to improve visibility and drive long term, sustainable growth."

"We continue to secure many large 5G contract wins as the development of the technology and network deployments remain firm long term drivers underpinning our growth. During the period we made significant strides in winning business with Hyperscalers, a key focus for us, supporting our customers with 5G cloud network expansions and automation, and again delivered double-digit growth in Services."

"We also secured a key 5G core testing win as part of a major UK government 5G initiative, for which additional phases are anticipated. In addition, we won a strategic deal with a leading Hyperscaler for our Benchmarking as a Service offering.

As demand for 5G pre-deployment testing and network rollout support continues to gather pace, we have firmly positioned ourselves as the partner of choice to support our ever-expanding global customer base with our leading-edge solutions, and to further capitalise on this growth, we have accelerated elements of our R&D programme, originally planned for later in the year."

" "We are delighted to continue the momentum seen in 2021, starting the year so strongly and further expanding our orderbook, providing greater future visibility.

"We continue to significantly broaden and deepen our customer base with our leading-edge solutions and the demand for our assurance solutions is robust, as market drivers for reliable communications, including 5G, remain a key global priority.

"We have developed a portfolio of offerings that have demonstrated strong mitigation of technical cyclicity as we focus on supporting our customers in the ever-growing area of network assurance, focusing on software solutions.

"The strong orderbook and continued business momentum means the Board remains confident in delivering its growth plan for the year."

[rivaldo] 06/5/2022 07:10

Encouraging to see CLX arrange an Investor Meet presentation on 26th May after the prelims are released:

[rivaldo] 27/4/2022 09:08

I'm pretty relaxed about the options. Firstly, the total options issued are completely de minimis as regards the £153m m/cap. Secondly, it's good to see the lower management tier being rewarded for the company's success. Thirdly, the 118p exercise price not only compares well to many PLCs who issue nil cost options, but also were likely first mooted at Board meetings only a few weeks ago when the share price was 120p-130p!

[swiss paul] 26/4/2022 22:04

Options look a bit easy - no stretch - Remun ctteee asleep on the job?