Lidco Share Discussion Threads

[multibagger] 20/8/2019 08:22

I agree largely amt - Q2 slow down is quite a lot, when compared to Q1 and lack of HUP numbers in US v rest of the world makes comparisons difficult.However, heading in the right direction overall but not yet at "escape velocity".

Maybe that's why they brought James Wetrich in - like I speculated ?

[amt] 20/8/2019 07:52

On the face of it one year of cash remaining but in practice they would likely not want to drop below half a million so they will need to get to cash break even within 6 months. Seems to have slowed a lot since Q1 but difficult to tell with just percentages quoted for Q1 at AGM. Anyway not great.

[multibagger] 20/8/2019 07:41

Looks like we may conservatively add about 0.5p to 1.0p to the share price on the back of H1 today.

If volumes get serious, a whole lot more !!

[buywell4] 20/8/2019 07:37

Q2 couldn’t have been great. Q1 up c40%, H1 up 10%. “Timing of large orders”. Never a good phrase. Still more than 12 months cash left which is better than I was expecting.

[multibagger] 20/8/2019 07:36

20 August 2019

LiDCO Group Plc

("LiDCO" or the "Company")

Capital Markets Day

LiDCO (AIM: LID), the hemodynamic monitoring company, announces it will be holding a Capital Markets Day for all investors on Thursday 12 September 2019.

A presentation will be led by CEO Matt Sassone, who will provide an overview of the Company and where it is currently positioned, and will also feature presentations by:

-- Tim Hall, Chief Financial Officer
Tim has been with LiDCO since March 2019 and brought with him extensive experience of finance leadership within the med-tech sector.

-- Shane Doorish, Head of North America
Shane joined LiDCO in January 2017 bringing with him 19 years of experience in the healthcare sector having originally trained as a critical care nurse. This includes 12 years with Edwards Lifesciences, a major global provider of hemodynamic monitoring, where Shane held a number of sales and marketing positions.

-- Dr Frederic Michard, MD, PhD, Visionary critical care Doctor
Dr Frederic is a Visionary critical care Doctor, who trained in Paris and Boston at MGH-Harvard Medical School. He is currently founder and Managing Director of MiCo, a consulting firm which specialises in medical e-nnovations and has a direct interest in hemodynamic monitoring having co-developed the Pulse Pressure Variation, a parameter now displayed on most bedside and hemodynamic monitors. Finally, Dr Frederic was previously Vice President, Global Medical Strategy at Edwards LifeSciences.

-- Eric Mills, Head of Technology
Eric has been at LiDCO for over 15 years having overseen the transformation of the technology to its current non-invasive form. He has a wealth of expertise in the hemodynamic monitoring market.

The event will be held at finnCap, 60 New Broad Street, London, EC2M 1JJ at 11.00am for a 11.15am start. This will be followed by light refreshments and an opportunity to talk to the Board and senior management further.

The presentation will be available on the Company website shortly after the event, and no new material or trading information will be provided.

To register, please email [e-mail] or telephone Walbrook PR on the number below.

[buywell2] 20/8/2019 07:26

POST REMOVED

[multibagger] 20/8/2019 07:03

LiDCO Group Plc

20 August 2019

LiDCO Group Plc

("LiDCO" or the "Company")

Trading update & Notice of results

LiDCO (AIM: LID), the hemodynamic monitoring company, provides the following trading update for the six months ended 31 July 2019.

LiDCO product revenues in the half year were up 10% compared with H1 last year to GBP3.33m (2018: GBP3.02m), slightly above the Board's expectations. The strong year on year sales growth in H1 was notwithstanding the continuing transition of more of the largest UK customers to the Group's Software as a Service ("SaaS") High Usage Programme ("HUP") business model, which has the effect of deferring revenue recognition.

HUP revenues in H1 grew 119% to GBP0.80m (2018: GBP0.37m) contributing to the overall performance of the business in the period. To date the Company now has 243 HUP monitors (31 January 2019: 164) placed in the market that will generate annualised revenues of GBP2.1m.

US revenues were up 47% (42% on a constant currency basis) to GBP0.90m (2018: GBP0.61m), with the growth being driven by the continued success of the HUP offering enabling the Company to take share in this large and growing market by targeting high volume users of advanced hemodynamic monitoring.

In the UK, LiDCO product revenues declined by 8% to GBP1.61m (2018: GBP1.76m) due to the timing of certain large orders and the Company's decision to transition another four of its largest customers to the HUP business model. The impact of these two factors is estimated to have reduced H1 revenue by GBP0.2m. The strategy, to actively convert UK customers to the SaaS business model, has a transitional impact on revenues as these customers typically de-stock inventory ahead of transitioning to HUP. Overall the Company believes that it is maintaining its leading share of the UK hemodynamic monitoring market.

Outside of the Group's two direct markets, sales to distributors grew by 27% to GBP0.83m (2018: GBP0.65m). The recently announced regulatory approvals of the latest hemodynamic LiDCOrapid(v3) monitor in both China and South Korea, and the appointment of a master distributor in Latin America, are expected to contribute to further growth in the second half of the year.

Total revenues (including third party products) were down 4% to GBP3.51m (2018: GBP3.64m) as a result of the previously announced termination of the Argon Critical Care distribution contract which contributed GBP0.63m in H1 2018 but just GBP0.16m in H1 2019. Adjusting for all third party revenue, including the effect of this terminated contract, gives the underlying growth of 10% for LiDCO products as stated above.

Net cash outflow in H1 was down 57% to GBP0.53m (2018: GBP1.22m). This figure is before the receipt of an expected R&D tax credit of GBP0.19m (2018: GBP0.13m), normally received in H1 but deferred into H2 this year. The Company had GBP1.19m of cash as at 31 July 2019 and remains debt free. As set out in the Annual Report and Accounts for 2018/19, the Board believes that LiDCO retains the appropriate strength in its balance sheet to deliver its strategic objective of creating a profitable business with good forward visibility from cash-generative, recurring SaaS revenue streams.

The Company intends to announce its interim results on 15 October 2019.

Commenting, Matt Sassone, Chief Executive Officer of LiDCO, said: "It's been a good start to the year that has enabled us to transition more UK customers to HUP. In the US we are continuing to gain success from a comparatively small sales presence, which demonstrates the potential of the HUP business model. With HUP gathering more momentum, we are focussed on achieving a strong second half performance as the business moves progressively towards breakeven."

[multibagger] 19/8/2019 20:27

Thanks buywell2 for sharing research on James Wetrich - stellar track record, augurs well ! Some trading today with some decent volumes by LID standards.

Still hoping we'll have an informative trading update in due course...

[buywell2] 19/8/2019 19:10

POST REMOVED

[buywell4] 19/8/2019 18:39

Nice to know you’ve been checking my profile out. How many do accounts do you have?

Dead cat bounce here. Would avoid these until the funding situation becomes clearer.

[buywell2] 19/8/2019 18:06

POST REMOVED

[7767] 19/8/2019 09:50

If they have appointed a director for the USA distribution hopefully one can assume the project is proving a success.

[7767] 19/8/2019 09:48

If they have appointed a director for the USA distribution hopefully one can assume the project is proving a success.

[buywell4] 18/8/2019 17:58

Buywell likes small caps, but unfortunately the ones that buywell has bought aren’t doing very well.

[buywell2] 18/8/2019 10:41

POST REMOVED

[buywell4] 16/8/2019 10:35

The UK market's dropping

Not so great thinks buywell ---

And that with a mere 70 points drop yesterday


7000 not even hit yet and


buywell believes 6000 will be here by xmas

dyor

[buywell2] 16/8/2019 08:38

POST REMOVED

[buywell2] 16/8/2019 08:26

POST REMOVED

[multibagger] 16/8/2019 07:29

On going through RNSs with mention of HUP sales in the USA this is what has been reported (I have just done a quick look at the RNS - looking out for the numbers and may have lost some the detail - I am sure Buywell2 will set the record straight)


26/03/19 Total HUP 164 with USA contributing 95 HUP
08/03/2019 USA 129
20/02/2019 USA 114
09/10/2018 USA 74
15/02/2018 USA 58

So last mention of any HUP numbers was 26 Mar 2019.

AGM statement on 16 May 2019 did not mention any HUP numbers, a deviation from the trend in the RNSs from before.

Also note 26 Mar 2019 HUP USA at 95, is lower than 08 Mar 2019 HUP at 129 ? Typo ??

Await information (if at all forthcoming) re HUP numbers in total and USA component following news vacuum between Mar 2019 and now !

Then yesterday, announcement of NED appointment with USA Healthcare expertise.....

[multibagger] 15/8/2019 20:32

Re Post 266

Sounds like you have met Sassone and are very satisfied ? CEOs of public listed companies such as LID will be trusted by shareholders based on share price performance - an easy enough metric to monitor ! They are custodians for share holders of the business largely, though they may own some shares in the company themselves.

A CEO is no different from people off the street basically and not anyone I know personally. So trust has to be earned.

I still hold a good few but not adding.

The "giveaway options" has placed an asterisk on the governance in my book. Let's see if the share price performance over the next 12-24 months forces me to re-evaluate.

If indeed a Trading Update is released shortly, it will be very interesting to see what is announced and what is left unsaid. The unsaid/unstated bit is often the most enlightening.

Nevertheless, I still find today's RNS intriguing and would love to know the back story !

[buywell4] 15/8/2019 20:26

Wouldn’t get it away at that price now. If they need cash to continue as a going concern reckon a rights at 1-1.5p.

With the market in Risk off mode and likely to drop to 6000 it may not make that. All IMO.

[buywell4] 15/8/2019 16:22

Not sure taking on another big salary is a good idea going into a recession. Dow likely to drop another 30% and all the money already spent by trump this is only going one way.

To be signed off as a going concern you need 6-12 months cash. Not sure they can do this without a deeply discounted rights issue (around 1p). All IMO.

[mrc2u] 15/8/2019 11:08

Aren't Vizient the group that DEMG just announced a relationship with? Good mutual vindication if it is and it will be interesting to see how long it takes LID to catch upMrC

[buywell2] 15/8/2019 10:19

POST REMOVED

[multibagger] 15/8/2019 10:06

Hi Buywell2,

Surprising why you think a valid question is negative spin ?

Appointing a NED to the Board is another mouth to feed. Healthcare specialists in the US do not come cheap. So there has to be a reason for the appointment. If we have the likes Shane Doorish (sector expertise) with North America already navigating the system, why would we be appointing another person ?

So something is not working as anticipated/suboptimal or within the time frames expected in the US. Edwards has the financial muscle to run us into the ground if it so wishes....

We started selling the HUP plan in 2017 and appeared to making good progress in the USA with fairly regular HUP updates etc. For whatever reason, the immediately tangible cash flow RNSs which is generated by HUP sales (as compared to RNS about gaining Regulatory clearances, which take a while to filter through into revenues) has not been forthcoming of late. Maybe the Company is waiting for the Trading Update to shed some light.

So in my view a perfectly valid question...nothing to do with Cyan !

The way I think about businesses and evaluate the same from an investing perspective is very different to you it appears - not that either is wrong, but we are entitled to our viewpoints.