I doubt that very much. |
That pump did not last long. Well and truly over |
Runway to 2027 and profitable in 2028 is the key takeaway for me. Meanwhile we can expect a new core product soon per the social media teasers. I assume this is one of their more recent patents or what will form the basis of the 2025 cost reductions or both. |
Thanks. Think thats actually a decent note from Edison, seems to have a bit more understanding about the products and partnerships than the previous one. |
New Edison note... |
I don't think it has. |
Edison used to be more on the ball than they currently are. I think it’s a waste of 60k. They haven’t covered the recent results or last years placing. Seem to be lightweight puff pieces. I’d rather they did more investor meets.
However it’s difficult as a small cap to get your message out. Hopefully some decent trial results will generate their own news |
Protrader Edison is not the house broker but they got paid £60k last year to say nice things so you would expect that arrangement has continued. |
Well I got burnt on sell the news last year, so I did it myself this year and am sitting on the fence with a small remaining holding. If there's a spike down definitely no risk buying but as with you I need sales and trial progress and I reckon some time away. |
Well this is disheartening. Current valuation is equal to Cash plus the valuation of the remaining consumables business. Core products valued at 0. Still think we could be some time off getting the core products moving too unfortunately. I continue to hold, won't add unless there is a significant RNS |
Worth noting that Edison is not the official broker for CREO. |
This update from Edison last week is freely available.
It concludes with...
"Revised guidance from management indicated that following the divestiture, break-even is now likely to be achieved in 2028 versus 2025 previously. We await further updates on this with the forthcoming FY24 results announcement." |
 And finally this. I'd say I'd rather they were missing on the lower margin consumables and over performing on the core products. However overall sales are somewhat underwhelming particularly compared to their forecasts of 2-3 years ago. I continue to hold (full disclosure I reduced my holding last year). For me the real key will be in the Intuitive partnership, should the trials be positive and Intuitive decide to promote it to their many clients then it may really start to build.
- Shares in Creo Medical Group PLC on Monday fell after it said full-year revenue would be below market expectations.
The Chepstow, Wales-based medical device company expects to report sales of GBP30.4 million in the year to December 31, down 1.3% from GBP30.8 million a year prior.
Chris Donnellan, director of research at Cavendish Securities noted this was below his GBP31.3 million forecast.
Creo reported a 74% increase in Creo Core Technology revenue to GBP4.0 million from GBP2.3 million, with GBP2.4 million of sales in the second half, representing 50% growth half-on-half.
Donnellan said this was ahead of his GBP3.4 million projection.
Creo Core Technology revenues include sales from all core products such as Speedboat UltraSlim and Croma platform and significant new customer additions during the period.
The sales shortfall arose in Creo Medical Europe Consumables revenue, Donnellan explained, where revenue is expected to drop to GBP26.4 million from GBP26.8 million, reflecting some forex headwinds in the period. Donnellan had expected revenue to pick up to GBP27.9 million.
In response, shares in Creo Medical were 7.4% lower at 17.50 pence each in London early Monday afternoon.
Creo said actions to reduce costs in the second half of the year resulted in a decrease in operating costs of around GBP5.0 million with the full benefit to come through in financial 2025.
The start to the year has been positive and the company is trading in line with management expectations, it added.
Donnellan said he remains "positive on the shares and confident in Creo's technology and the benefits it can deliver to patients, care providers and investors."
B |
Worthwhile post from another board. I can't verify the accuracy, but the poster seems decent enough
Please find the following research summary for Creo Medical, from Cavendish and Deutsche Numis, following the Company’s trading update issued this morning.
Cavendish reiterates 70p target price: “Creo Medical has provided trading update for FY24, noting core Creo revenues grew 74% to £4.0m (FY23: £2.3m) versus our forecast £3.4m. Creo has reduced its operating costs through 2024, resulting in a decrease of c£5.0m, with the full benefit expected in FY25. Last week, the sale of a 51% stake in Creo Europe was completed and the cash (c€30m) was received on 14 Feb 2025. Management notes that trading in 2025 is in line with its expectations. We remain positive on the shares and confident in Creo’s technology and the benefits it can deliver to patients, care providers and investors.”
Deutsche Numis reiterates Buy recommendation and 45p target price: “The surgical endoscopy and advanced energy company expects sales of £30.4m for FY24 (DBe £31.6m). Core technology sales of £4m are in line with expectations growing 76%, benefiting from significant new customer additions in the year. H2 sales of £2.4m grew 50% over H1. The Consumables business grew 3% on CER (DBe 3%), but due to FX headwinds delivered sales of £26.4m, a touch light of expectations (DBe £27.6m). The disposal of 51% of the Consumables business has completed and the cash was received last week. FY25 has started positively and a fuller update will be provided at FY24 results in April.” |
Still too rich. |
Happy enough. GLA |
As always a bit of a mixed bag that needs a bit of digging to see the real picture..
Core sales of 2.4m Up 50% on H1 but flat when compared to 2.3m H2 2023.
Costs down 5m. Sounds impressive, but I’d like to know where the savings have been made. The costs with the consumables division will drop (as will the turnover) as it is owned by their partners.
Kampative revenues of 0. As flagged with changes to the agreement. Does that mean they have zero users? What about CMR?
Current trading inline with management expectations. Whatever that is.
Cash seems decent |
Trading update still disappointing on own products but not particularly unexpected. Good to see better cost management. Got a couple of year breathing space with the sale to finish the trials and find some real growth. |
I reminded myself that in the interims published end September they correctly forecast they would get €30m in cash.
Too bad we will have to wait 3 months-perhaps more-to get the 2023 accounts to see if H2 cash burn was less than the £14m in H2 |
31.3 m euros or pounds |
Also there could be a bit of selling if those that bought in the raise decide to get out - though having said that the take up from PIs was insignificant.
What we really need though is some clinical data showing the superiority of their core products and signs of traction with customers.. Must be due an update on both. |
Yes good news, though without wishing to be a party pooper, I note that Cavendish have forecast £31.3m inflow from disposals this year. Perhaps there are other disposals planned or it is just that the cash proceeds are less than forecast. |
£30m in cash - outstanding |
good news, hope all goes well with the trial, GLA |
I expect they will cut and paste your quote Dr B. I don't see anything from the takeover panel yet but maybe it is in Spanish. The Chinese company is already operating in Europe with no bad press so hopefully a clean run through. |
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