They have an EV of £2m. If they burn £5m next year they'll still be on an EV of £7m with an estimated FY24 ARR of £12mFY23 LBIT 7.4mFY24 LBIT 5.2mYes loss making but not at all a basket case, solid investment in a growing market, saving customers money.Very sticky with 3 to 4 year contracts. Break even at 18m ARR. |
No point posting then |
Still wouldn't touch this Cash burn too high |
"It is losing money fast , but we really hope that we can turn it round or else we will go bust" seems a rewriting , minus the sales speak. |
No reaction to the results? No trades.I guess we're all waiting for the investor presentation.Nothing in the results about how they will reduce the time to profitability only peak cash burn has been passed.Would have liked more. |
Its held up well imo, 10p soon, winding the company up could give the share price a boost, is that possible? |
WTF big drop before results next week, topped up ..... yesterday ? |
I see one Director bought some, but only £8K so doesn't mean much. |
surprised keith is not dipping in at this level, telling ? |
To simplify : if you had the choice to spend GBP 1 today for GBP 1 every year for 5 years, would you do it ? |
Creating 10M of ARR by having 10M of cash walk out the door, you sound surprised the ev is £6.5M and falling |
Regarding cash burn, they have previously guided this will be high and losses will increase due to expansion in the US. Broker notes have this cash burn baked in.Absolutely a US acquisition would be a faster way to scale and I feel they hinted at that during the update.But they currently have an EV of £6.5m and ARR of £10m |
Huge cash burn I wouldn't touch this POS |
Surely the easiest way is to buy another profitable company where there is some overlap either in sales force or back office. |
The cash burn indicates the level of loss. I suspect there will be a massive investment in sales to get profitability in a difficult climate. |
yes, that's the problem probably by the time its likely profitable remaining cash spent and the company insolvent. I seem to remember years ago this checkit endeavor was also wasting oddles of Bulgins own profits. Very difficult to attribute any valuation to the product unfortunately as seems never to have proved credible. |
the Board is accelerating its plan to achieve profitability. An update will be provided in the interim results announcement, expected to be issued on 15 September 2022. |
I think it is time to put the Company up for sale
Keith (Daley) you have had plenty of time to get this right, you have done very well financially out of Bulgin, Electron and checkit.
Rosy future next year has worn a little thin.
Directors salary over £1m pa deserves a better result |
To state the bleeding obvious, somebody is selling. EV now £6.5m |
Approaching an all time low, though the chart here does not include it's previous name. |
I'm not sure what to make of the TU today. Optimistic noises but not numbers.
Not stopping the dismal share price slide . |
That terrible decline in cash, 4.7 million, so given revenue looks like getting on 10 million must have left the business. Shocking |
In the statement |
Non-recurring revenue declined as planned in line with the Board's expectations. The Group is now wholly focused on delivering recurring revenue from its technology solutions, rather than one-off projects with minimal software input. |
So can anyone explain why Non-recurring has fallen off a cliff ? |
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