Intelligent Ultrasound Share Discussion Threads

[gsbmba99] 14/6/2024 12:13

Are we sure the leading seller is Interactive Brokers (the US listed company) and not Interactive Investor (ii.co.uk, a subsidiary of Abrdn)? Interactive Brokers seems a strange place to be holding IUG shares. The ability to trade SETSqx is pretty limited (auctions only?) and SEAQ is, I think, non-existent.

[40 fathoms] 13/6/2024 23:15

OK - The following list is just the highlights and is YTD as at 02/05/24, so will not account for the recent moves. Almost all of the selling has had a retail flavour with Instos broadly buying.

Interactive Investor: - 1,643,684
Dowgate : - 355,000
Hargreaves Lansdowne : -290,000
Pictet Funds : -275,000
Winterflood: -110,000
AJ Bell : -85,000
Raymond James : -65,000
Investec: -50,000

Goldman Sachs: +744,000
Credit Agricole: +532,000
Barclays: +520,000
Oberon Investments: +417,000
Halifax: +105,000
FIL : +70,000
Rowan Darlington: +55,000
Maven Capital: +50,000

[40 fathoms] 13/6/2024 00:45

@Bamboo - I suspect your explanation is certainly part of it especially as we are soon heading in to the mid year point (redemptions and/or managers tidying up their book before it gets reported).

Tomorrow, I will see if I can get an update on the latest shareholder position in Bloomberg.

[bamboo2] 12/6/2024 19:15

Masarap, There are numerous Small Companies Funds closing their doors this year. They typically cite poor performance combined with an unsustainable level of withdrawals for the decision to close. The poor performance has led to a reduction in the critical mass required to benefit from the quantities of scale that are normally part of active fund management. I guess that some of these funds will be forced sellers, affecting many AIM co's.

Some months ago 40F had access to a Bloomberg Terminal and was able to give an update on institutional share holders positions.

[chester9] 12/6/2024 08:57

AGM on 18th it's in their interests to put out a trading statement given share price If they don't then normally do a TU in late July.Labour will increase spending on NHS they have a strong record on this. That should support companies like IUG. Until news it will drift.

[masarap] 12/6/2024 08:18

Any views on who the seller is? I believe IUG have a £2m banking facility so no funding should be needed even if they don't quite achieve the bottom-end forecasts due to any weakness in NHS revenues. Even at the lower end of forecasts, I think the CEO has suggested they can reach breakeven.

[bamboo2] 12/6/2024 07:48

Persistent seller driving us below 8p.

Will we see Brett Gordon buying again?

[40 fathoms] 09/6/2024 03:13

I also note that the Noble Group at Oxford University has now started a new project focused on the detection of fetal heart defects. This and the example posted above about the market expansion opportunities for NeedleTrainer highlights a rare attribute for a small company like IUG, in having a clear and realistically actionable roadmap for each product line.

[40 fathoms] 09/6/2024 03:01

The link above is to the 2024 update to NeedleTrainer.

"Elevate your ultrasound-guided needling with NeedleTrainer's latest enhancements! Watch our on-demand showcase and discover what's new for NeedleTrainer in 2024. Our clinical applications specialist Laura will take you through the new needle lengths and vascular access mode with a live demonstration."

Vascular access takes the market for this product beyond anaesthesiology and in to POCUS. It now seem obvious that further modules could be added for interventional radiology and nephrology, expanding that potential market even further. Overtime this has the potential to be a much more significant revenue contributor than I had estimated.

[40 fathoms] 26/5/2024 07:53

@bmcollins - just looking at that possibility now, if I do I will certainly let you know.

I have now finished my first proper read through of the annual report. Lots of good things in it. The new information for me came from the 2024 objectives in the simulation division.

– Generate c.£11m revenue from simulation with growth across all three regions
– Explore feasibility of low-cost opportunities to address changing simulation market
– Maintaining and sustaining our current Simulation Platforms whilst moving into new market segments
– Develop ‘Needling on Eve’ on BodyWorks

Seems like they still see plenty of growth in this area.

[bmcollins] 24/5/2024 14:17

Is anyone planning on attending the meeting in June ?

[40 fathoms] 23/5/2024 13:55

I think it is interesting that the top 10 shareholders hold @71.5% and have been rock solid for years.

[bmcollins] 23/5/2024 09:49

I tried to read these numbers as a disinterested onlooker as opposed to an enthusiastic holder and although I see revenue was in line with guidance it would have been nice to see it a tad higher but the imprtant thing for early stage co's is surely their runway, & to me that is secure with revenue likely from GEHC, quite apart from that IUG has more than one string to play on this instrument.
There has only been 1 trade today, of just 20k so it seems that most shareholders are happy holders and the punters/traders you normally see in AIM stocks are not apparent here.
Is my summation correct or am I missing something ?

[bamboo2] 23/5/2024 06:03

Notice of Annual General Meeting and

2023 Report and Accounts



Intelligent Ultrasound Group plc (AIM: IUG), the 'classroom to clinic' ultrasound company, specialising in artificial intelligence (AI) software and simulation, announces that the following documents have been posted or otherwise been made available to shareholders:



· 2023 Report and Accounts; and

· Notice of 2024 Annual General Meeting ("AGM")



The Notice of AGM and the 2023 Report and Accounts are also available to view on the Company's website at: www.intelligentultrasound.com/reports-presentations



The AGM will be held on Tuesday 18 June 2024 at 10.30 a.m. at Cavendish Capital Markets Limited, One Bartholemew Close, London EC1A 7BL.



Details of how to participate in the Meeting and the resolutions that will be tabled for shareholder approval are set out in the Notice of AGM.

[eeza] 20/5/2024 07:11

New Cavendish note out this morning.

[bamboo2] 14/5/2024 09:18

Link to IUG Webcast from 1/5/2024

Audited results for the year ended 31 December 2023, plus Q&A.

[bamboo2] 14/5/2024 08:16

I have been away a lot over the past six weeks, but finally caught up with the GEHC Q1. It seems that the tough comparison of last years +12% ultrasound sales was partly to blame for the slight easing in the first quarter. Full year outlook for 2024 remains +4%

[40 fathoms] 09/5/2024 10:20

I have been looking but I have not seen any announcements as of yet. Will of course post it here if I find something.

[bamboo2] 09/5/2024 07:33

40F, re, 40 Fathoms - 30 Nov 2023 - 01:25:51 - 312

"The US military has just launched an evaluation and tender process for up to 6,000 battlefield POCUS ultrasound units. The results of which are to be announced in March or April next year. If we are to pick up contracts I expect our software will be integrated in to the winning system."



Is there any update on the selection process?

[40 fathoms] 08/5/2024 23:32

The numbers I found which are a bit out of date is that they had 10% vs GEHC @ 52%. However, I think the strength of the off machine model is that any ultrasound can become a OBGY ultrasound. However, against that you have to make each sale individually and I suspect which is really tough and it is the Samsung sales network that will be of most benefit to them.

We know we have a 12 & 30 week scans in the works which one might expect gets added to the GE machines in the next product refresh cycle and I have no doubt we are working on many other additions.

Next year we should see about GBP 4 million of revenue from GEHC and with the prospect of taking that +50% higher in subsequent years as a new product upgrade cycle with additional scans rolls out. This would be separate from any Gestational Age related product which has similar potential.

For me the take away is that if Sonio is worth $92 million .... we should be worth significantly more than that and I am absolutely certain we are worth more than our $33 million current market cap.

[gsbmba99] 08/5/2024 14:43

Link to the most recent FDA approval from about 10 days ago. The language used is (at least for me) easier to understand than the marketing speak from the website. The software doesn't sit on the ultrasound machine but rather on an edge machine. It does sound similar to SonoLyst though they offer 1st, 2nd and 3rd trimester scans.

"The indications for use of Sonio Detect v2 and the predicate differ in the characteristics verification. Sonio Detect v2 automatically verifies both the characteristics and quality criteria of the views whereas the predicate Sonio Detect only automatically verifies the quality criteria. However, these differences do not raise new questions regarding safety and effectiveness of the device when used as labeled."

"Sonio Detect v2 and its predicate differ in their compatibility with ultrasound machine manufacturers. Both devices support ultrasound systems from GE Medical, Samsung and Canon. However, only Sonio Detect v2 is compatible with the ultrasound system from the manufacturer Philips."

[gsbmba99] 08/5/2024 14:26

Do we know what type of market share that Samsung has in Ob/Gyn? I presume they are well behind GE. Would I be right in thinking that Sonio Detect sounds similar to SonoLyst but without the autocapture feature? Do we have any idea of Sonio's revenues?

[40 fathoms] 08/5/2024 09:38

$92 million for Sonio which has a sole focus on prenatal AI ultrasound, we have similar/adjacent (much more AI revenue) in addition we also have simulation and training, we have ScanNav PNB and we may soon have a liver product.

May 8 (AFP) -- South Korean tech giant Samsung said Wednesday it will buy French artificial intelligence company Sonio to boost its cutting-edge medical diagnostic systems.
The use of AI has exploded in recent years in a wide range of disciplines and industries, including medical care, and firms around the world are investing heavily to incorporate it into their products.
The purchase of Sonio by medical equipment maker Samsung Medison, an affiliate of global chip and smartphone giant Samsung Electronics, would boost maternal care through AI-enhanced ultrasound systems, according to a company statement.
"Collaboration with Sonio will bring together best-in-class ultrasound AI technology and reporting capabilities to bring a paradigm shift in the prenatal ultrasound exam," said Yong Kwan Kim, CEO of Samsung Medison.
Samsung will acquire all Sonio's shares for 126 billion won (around $92 million), according to public financial records.
The deal is subject to regulatory approvals including from France. Once it is concluded, Sonio will remain headquartered in France.
"In addition to close collaboration with Samsung Medison, as an independent company, Sonio will continue to advance medical reporting technology and diagnostic software globally, including for underserved areas in healthcare," Sonio CEO Cecile Brosset said.
Sonio's AI tech uses machine learning to enhance the accuracy, quality and analysis of ultrasounds.
Its Sonio Detect product, approved for use in the United States, helps analyse images of a fetus, including brain and heart structures.
The acquisition marks the latest move by Samsung to strengthen its AI offerings.
Samsung Electronics is the world's biggest producer of memory chips, including versions used in top-of-the-line AI hardware from industry leaders such as Nvidia.
The firm is also one of the world's biggest smartphone makers, and the latest models it unveiled in January are powered by its own Galaxy AI tech.

[bamboo2] 08/5/2024 06:20

Holdings notice.

Brett Gordon going from 3.020467% to 4.053600% or 13250000 shares.

Post one updated.

[bmcollins] 01/5/2024 20:15

@Chester9
I saw it this pm but what I believe he missed was the inclusion now of IUG into the GEHC machines as he was dubious about the future revenue projection, which does look rather achievable now, & could easily be pretty conservative if this system really does take off as we hope.