Cyanconnode Share Discussion Threads

[cpap man] 17/1/2019 08:07

CyanConnode Holdings plc

("CyanConnode" or the "Company")



Trading Update



FY Revenues significantly exceed those achieved in FY 2017



CyanConnode (AIM: CYAN), a world leader in Narrowband Radio Frequency (RF) Smart Mesh Networks, announces the following trading update for the year ending 31 December 2018.



Financial Highlights



CyanConnode expects FY 2018 revenues to be approximately £4.7 million, up 400% on FY 2017 revenues of £1.17 million, with India and the Nordics being the main contributors to organic growth. When audited financial statements are released in due course, the operating loss before tax is expected to show a significant improvement over FY 2017.



Operational Highlights



India

Following the launch of Omnimesh in June 2018, significant progress was made and revenue in India exceeded CyanConnode's 2018 India business plan forecast. Orders to the value of $18.9 million for Omnimesh have been received from customers to date with approximately $4 million delivered against these orders in the period.



In Q4, CyanConnode's local manufacturing partner increased module production to 32,000 units per month.



Furthermore, Indian Utilities continue to issue large 'Requests for Proposals' and on 24 December 2018, the Indian Government announced that it had mandated the use of smart prepaid electricity meters.[1] Consequently, CyanConnode has taken steps to ensure module production by its local manufacturing partner can be scaled up to meet accelerating demand.



China

On the 7 December 2018, CyanConnode announced its first Hardware Technology License Agreement. The $4 million Agreement allows Beijing Jingybeifang Instrument Co. Ltd (Beijing Instruments) to manufacture CyanConnode's modules for integration into their smart meters and production is estimated to commence in H2 2019.



The Board are aware that expectations for 2018 included revenue from the license agreement to be recognised on an upfront basis, however after reviewing the matter the Directors consider it prudent for revenue to be recognised upon module production rather than a one-off sum so that revenue is in line with underlying activity.





[1]





Nordics

During the period CyanConnode announced two orders from Nordic customers, including an order for perpetual software licenses and annual maintenance fees for an initial period of 10 years. A further order was also received from an existing customer for a smart metering deployment.



UKSMIP

CyanConnode has a contract to provide Toshiba with software licenses and support for Telefónica's SMETS2 Communications Hub. These Hubs are being installed in the Central and Southern regions and CyanConnode's technology is used where the cellular signal cannot reach the meter location (Not-Spots).



The roll-out of SMETS2 meters commenced in Q3 2018 and gained momentum during Q4. This momentum is expected to continue during 2019.



Rest of the World

The smart metering market in the Rest of the World continues to mature and during the year two new distribution agreements were signed for the Philippines, UAE and Bahrain.



Several markets in which CyanConnode has won contracts suffer from geopolitical risk and as a consequence contracts in Bangladesh, Iran and Ukraine have slowed. CyanConnode is working closely with its partners and will continue to scrutinise the deliverability of the contracts in those jurisdictions.



Outlook

CyanConnode's 2019 business plan has been prudently built with the potential for material upgrades during the year. CyanConnode expects 2019 revenue to be significantly higher than 2018.



John Cronin, CyanConnode Executive Chairman, commented:

"Meaningful progress has been made during 2018 and I anticipate further progress during 2019. I would like to thank shareholders for their continued support including their further capital investment. I would also like to thank all our staff for their dedication and efforts during the year."

[fred splange] 17/1/2019 07:54

Heading in the right direction?CyanConnode (AIM: CYAN), a world leader in Narrowband Radio Frequency (RF) Smart Mesh Networks, announces the appointment of Arden Partners plc as its sole broker and Nominated Adviser to the Company with immediate effect.Wonder what Finncapp didn't want in the TU?

[greenelf] 17/1/2019 07:51

Loss is a loss.

[multibagger] 17/1/2019 07:50

Heading in the right direction....

CyanConnode Holdings PLC

17 January 2019

Trading Update

FY Revenues significantly exceed those achieved in FY 2017

CyanConnode (AIM: CYAN), a world leader in Narrowband Radio Frequency (RF) Smart Mesh Networks, announces the following trading update for the year ending 31 December 2018.

Financial Highlights

CyanConnode expects FY 2018 revenues to be approximately GBP4.7 million, up 400% on FY 2017 revenues of GBP1.17 million, with India and the Nordics being the main contributors to organic growth. When audited financial statements are released in due course, the operating loss before tax is expected to show a significant improvement over FY 2017.

Operational Highlights

India

Following the launch of Omnimesh in June 2018, significant progress was made and revenue in India exceeded CyanConnode's 2018 India business plan forecast. Orders to the value of $18.9 million for Omnimesh have been received from customers to date with approximately $4 million delivered against these orders in the period.

In Q4, CyanConnode's local manufacturing partner increased module production to 32,000 units per month.

Furthermore, Indian Utilities continue to issue large 'Requests for Proposals' and on 24 December 2018, the Indian Government announced that it had mandated the use of smart prepaid electricity meters.([1]) Consequently, CyanConnode has taken steps to ensure module production by its local manufacturing partner can be scaled up to meet accelerating demand.

China

On the 7 December 2018, CyanConnode announced its first Hardware Technology License Agreement. The $4 million Agreement allows Beijing Jingybeifang Instrument Co. Ltd (Beijing Instruments) to manufacture CyanConnode's modules for integration into their smart meters and production is estimated to commence in H2 2019.

The Board are aware that expectations for 2018 included revenue from the license agreement to be recognised on an upfront basis, however after reviewing the matter the Directors consider it prudent for revenue to be recognised upon module production rather than a one-off sum so that revenue is in line with underlying activity.

([1])

Nordics

During the period CyanConnode announced two orders from Nordic customers, including an order for perpetual software licenses and annual maintenance fees for an initial period of 10 years. A further order was also received from an existing customer for a smart metering deployment.

UKSMIP

CyanConnode has a contract to provide Toshiba with software licenses and support for Telefónica's SMETS2 Communications Hub. These Hubs are being installed in the Central and Southern regions and CyanConnode's technology is used where the cellular signal cannot reach the meter location (Not-Spots).

The roll-out of SMETS2 meters commenced in Q3 2018 and gained momentum during Q4. This momentum is expected to continue during 2019.

Rest of the World

The smart metering market in the Rest of the World continues to mature and during the year two new distribution agreements were signed for the Philippines, UAE and Bahrain.

Several markets in which CyanConnode has won contracts suffer from geopolitical risk and as a consequence contracts in Bangladesh, Iran and Ukraine have slowed. CyanConnode is working closely with its partners and will continue to scrutinise the deliverability of the contracts in those jurisdictions.

Outlook

CyanConnode's 2019 business plan has been prudently built with the potential for material upgrades during the year. CyanConnode expects 2019 revenue to be significantly higher than 2018.

John Cronin, CyanConnode Executive Chairman, commented:

"Meaningful progress has been made during 2018 and I anticipate further progress during 2019. I would like to thank shareholders for their continued support including their further capital investment. I would also like to thank all our staff for their dedication and efforts during the year."

[lwaxf13] 16/1/2019 17:43

More time to be wasted promoting this world leading crock overseas. I wonder is Theresa May going, to add a touch of kudos.

hxxps://cyanconnode.com/events/

It ain’t going to happen here imo. Like our inept prime minister it takes special skills to fail over and over and cyan has those skills in spades. Failure all over this company but never let that get in the way of obscene salaries, bonuses and options set pathetically low to help enrich our big hitters.

[lwaxf13] 11/1/2019 21:17

i think you’ll have to ask JC those questions. With his Midas touch here I would think the pipeline is ginormous by now and that other geezer is busy collecting piles of cash from customers when he can manage to catch a train. Think “the UKs very own Elon Musk”. We are lucky no other company snapped these guys up.

[mtw] 11/1/2019 11:03

Is the TNEB company transforming order still in the revenue pipeline ? Just a thought, but does Cronin's pieline grow ever longer regardless of whether or not the "order" is eventually won by a competitor or is cancelled altogether ? Does he forget to remove that lost revenue from his pipeline or does it become part of the ever growing pipeline for evermore ?

[lwaxf13] 06/1/2019 18:17

Now now. They are worth every penny. It can’t be easy getting things consistently so wrong for so long with no end in sight. I think it requires special talents to fail so much. We should be grateful to have such a high calibre team of big hitters and a world leading company.

I would guess maybe 6 months cash left then lights out or fund raise ... but who on earth would throw money into this?

[owenski] 06/1/2019 17:47

Enough for a BoD partay

[mtw] 06/1/2019 16:34

looks like it will be 2019 "non orders" backdated to tail end of 2018 to realise the BoDs bonus payments. Anyone know how much cash is left ?

[lwaxf13] 31/12/2018 12:19

So funny. Those orders received by Cyan look great on PowerPoint and by all accounts over $100M of them. Sadly the share price indicates that I am not the only one who does not believe a word of Cyans mega orders. I suspect it won’t be long until we hear of another mega order then it can quietly drop off the radar. Fund raise, keep payroll going, rinse, repeat.

[realist1950] 31/12/2018 09:31

Someone on the tube just checked their smart phone shared the news that CYAN have RNS'd another

"order received but not delivered"



:O)

[lwaxf13] 31/12/2018 09:16

As 2018 draws to a close it is time to reflect upon another record breaking year for Cyan. The Share price has seen and continues to hover close to a new all time low close to 0p in old money. I have total confidence in the world leading team to deliver more failure for shareholders in 2019.

Happy new year to all long suffering shareholders and let’s look forward to another record breaking year.

[lwaxf13] 20/12/2018 17:05

The share price continues on its merry way down as is normal for this world leading crock. However, the important thing is did the big hitters who have overseen this ongoing failure achieve their bonuses?

[sabre6] 19/12/2018 14:03

Hi Iwax
No I have not been stewing this over for several days.
I only visit the site every couple of days.
Incidentally who is the person who you know so well? I assume it is someone close to you.

[lwaxf13] 18/12/2018 22:19

Hi Sabre

You been stewing that one for a couple of days. You are too funny. Did you come up with that retort all by yourself or did you have help with it?

[sabre6] 18/12/2018 18:01

Hi Iwax
To answer your question no I am not into unleds what ever they are.

[lwaxf13] 18/12/2018 17:18

125 shares traded in one lot. I think the big funds must be getting into this world leading company. At about £12.50 that’s a massive vote of confidence in Cyan. More like this and we will be world world leaders :-)

Good luck All.

[detective1] 16/12/2018 17:55

Great news.

[multibagger] 16/12/2018 17:19

There seems to be chatter that a trading statement will accompany clarification of revenue recognition of the Chinese Licensing deal $4m. The trading statement usually has come in the new year, if memory serves me well.

However, not long to go before Christmas/end of financial year, so if this trading statement were to be brought forward, then tomorrow or day after would seem most likely dates - thereby allowing markets to digest the information and not get lost in the Christmas spirit.

Will we meet market / company forecasts for Circa £7m this year ?

Given that performance bonuses are linked to these revenue figures, I feel cautiously optimistic ;)

Let's wait and see and good luck all :)

[realist1950] 16/12/2018 15:28

One may well ask what has actually materialised from all of those past RNS'?

Well, in my view and understanding only, here's the thing with good ol' CYAN:

My opinion is, they're keen to announce any new venture or opportunity, but if that said new venture or opportunity doesn't actually deliver anything (or less than muted)....they're less keen to explain why, or state categorically if it's still on the table or not.

Some, including myself, may conclude from that that CYAN think it far better to announce a new opportunity instead of commenting more fully on what has already been sounded.

I suppose this way the company never actually announces overtly 'bad' news (results time excepted!). Sadly the market it FULL of retail investors who are all to happy to hear what they want to hear and quietly forget about past opportunities.

Now that might be perfectly alright to some.....but sadly it's a an approach that results in losing money.

So ultimately such self-deception is self-defeating.

Cheerio.

:O)

[realist1950] 16/12/2018 15:20

Don't forget the water metering in South America too!

That one sucked a few unsuspecting folk in also.

[realist1950] 16/12/2018 15:13

And to end with Shanghai Yaming is interesting.......given CYAN were RNSing their entry into the Chinese market only around 10 years ago.

[realist1950] 16/12/2018 15:09

My stupid grin breaks to audible laughter at around 'Nobre de la torre'.......where is your crease-point?

To say them all with John Cronin's accent in my mind only makes me chuckle further.

:O)