Minds + Machines Share Discussion Threads

[brownie69] 30/7/2020 13:55

Jackson83.
Where did they create the expectation of announcing a dividend today?
FWIW I think they are better off retaining the casj and investing for growth rather than paying dividends in the current climate.


All
FYI The 50k at 5.75p is a buy. Its me, thus other likely to be as well.

[waldron] 30/7/2020 11:15

RNS Number : 5367U

Minds + Machines Group Limited

30 July 2020

Embargoed until 07.00: 30 July 2020

Minds + Machines Group Limited

("MMX" or the "Company")

Trading Update and Notice of AGM

Minds + Machines Group Limited (LSE: MMX), one of the world's leading owners and operators of Internet Top-Level Domains ("TLDs"), is pleased to provide the following H1 trading update, a period in which the Company has continued to deliver top-line billings growth whilst achieving its long-term objective of removing its reliance on one-off brokered billings, with 99% of billings being generated through the automated online retail channel during the period.

During H1 2020, year-on-year registrations grew 31% to 2.38 million as of 30 June 2020 (1.82 million 30 June 2019). H1 2020 automated online channel billings (amounts invoiced) increased 20% to $7.8m (H1 2019: $6.5m), delivering overall billings growth of 7% in H1, with total H1 2020 billings closing at $7.9m (H1 2019: $7.4m). The uplift in online channel billings reflects the underlying improvement in both renewal billings and new registration billings - up 17% and 23% respectively in the period.

This improvement also reflects the success of the Company's strategy to move away from one-off brokered billings which declined by $0.8m to $0.1m in the first half.

Channel billings are generally recognized as revenue over the life of the registration, whereas one-off brokered billings are generally recognized as revenue as billed, therefore this change to predominately channel billings will result in an increase in deferred revenue such that, despite the 7% increase in billings in H1, reported revenue is expected to decrease by approximately 5% when compared to H1 2019.

Management also notes that expected H1 channel sales from the Company's brand protection activity were held back due to the impact of COVID-19, but anticipates those brand protection initiatives that were delayed in Q2 will resume in H2.

Mirroring the underlying improvement in billings in the period, cash generated from operations increased 13% to approximately $2.5m (H1 2019: $2.2m), with cash on hand at 30 June 2020, net of the $1.2m share buyback in May this year, improving to $7.3m ($6.6m as at end of FY 2019).

During H1 2020, OPEX and COGs were kept broadly in-line with the Company's KPI's in spite of an additional $0.2m in costs during the period associated with closing the data centre following the ICM acquisition and staff termination related payments.

Toby Hall, CEO of MMX, commented:

"I am delighted that our business has proved so resilient to the COVID-19 crisis.

The momentum we've been building in the channel over the last three years is now demonstrably coming to the fore and driving the ongoing improvement in our billings mix, with 66% of our H1 billings being renewals compared to 60% in H1 2019. It is also encouraging to note that the H1 uplift was not reliant on either brokered or brand protection billings. In short, we are now an incrementally cash generative business with a robust SaaS-type revenue model where 99% of billings in the period were through the automated channel. As a traditionally H2 weighted business, we are further encouraged by the outlook for the full-year as new partner initiatives delayed in Q2 due to COVID-19, are now set to commence in H2."

Notice of AGM

Notice is given that the Company's Annual General Meeting will be held virtually on 27 August at 14.00 (British Summer Time) via the digital platform Investor Meet Company.

Copies of the Notice of AGM, Form of Proxy and Form of Instruction will shortly be available for download on the Company website at .

The online AGM is open to all existing and potential shareholders and forms part of the Company's ongoing strategy to ensure appropriate communication structures are in place for all elements of its shareholder base. Questions can be submitted during the meeting via the "Ask a Question" function. Whilst the Company may not be in a position to answer every question it receives, it will seek to respond to the most prominent questions within the confines of information already disclosed to the market. Responses to the Q&A from the live presentation will be published at the earliest opportunity on the Investor Meet Company platform. Investor feedback can also be submitted directly to management post the event to ensure the company can understand the views of all elements of its shareholder base.

Investors can sign up to Investor Meet Company for free and request to meet MMX via .

[wapper] 30/7/2020 10:10

With a stronger 2nd half to come we are approaching £20m sales and £6m Profits. A very unchallenging P/E currently. Automatic growth assured here .DYOR

[waterloo01] 30/7/2020 09:09

Because they have made no mention, again, of a dividend.

[brownie69] 30/7/2020 08:45

Seems like a good update. But no reaction from the share price Any ideas why?

[wapper] 30/7/2020 08:31

bought 100000 at open but showing as a sell

[jackson83] 29/7/2020 21:20

if we get a sell off after the 7am RNS I'm a buyer at 5p/5.20p and hold for 5/10 years as maybe we will be 50p then ?

[jamesto2] 29/7/2020 10:34

A poster on LSE chat today is saying A RED FLAG on MMX hmmmmmmm .. maybe he wants in at a cheaper entry price.

[jamesto2] 28/7/2020 16:34

we should get an RNS tomorrow or Thursday as I had final top up before the next leg UP

[jamesto2] 28/7/2020 10:34

Anyone buying in now could see 25p by 2022 STRONG BUY .. 5% divi on its way folks.

[jackson83] 28/7/2020 10:15

17,008k share purchase at 5.85p BARGAIN TOP UP