Ondo Insurtech Share Discussion Threads

[purple11] 05/8/2024 06:37

hopefully be able to pick some up@10p after the crash atb

[purple11] 03/8/2024 04:18

xXTiPSXHEETSXx

[purple11] 03/8/2024 04:17

ONDO WATCHLIST

[purple11] 03/8/2024 04:02

you have to change your mind like the wind in stocks otherwise you wont be in the game long.

no figures were forthcoming in the latest us contract so i presume its v small beans again.if it was significant they would have shouted it from the roof tops.

[mr paul b] 02/8/2024 14:39

It went up because punters bought in on the good news , 25% up from lows in short space of time is going to attract some sellers who bought the lows ..How can you comment on ONDO , when youWere spouting rubbish a few weeks back 25, 50 ,1£ .. seriously you don't do yourself any favours ..

[purple11] 02/8/2024 11:31

bulltrap

down she goes......

[hatfullofsky] 31/7/2024 16:12

I liked that bit too, I wasn't impressed with the CFO, stuttering all over the shop.

They answered my ARR question by saying it has now been audited so the new calculation is correct and the HY exit ARR should be rebased at GBP 1.6m against a FY exit ARR of GBP 1.7m which is only an extra £100k in H2 which is an increase of 6% (the CFO called it 9%)

[pdt] 31/7/2024 07:27

The Investor Meet presentation is online



The most significant bit for me was when Mark revealed that one US insurer was considering making Leakbot compulsory when taking their insurance. If that happened the effect on Ondo would be transformational.

Current number of installed leakbots is about 110,000 and then say one of the smaller insurers with 1m policies makes Leakbots compulsory and the Ondo business changes overnight. If one insurer sees it as a major competitive advantage then others will surely follow and also make them compulsory. It was a bit like insurers insisting you have a lock on your front door if you want to take insurance.

Even if no insurer makes it compulsory it shows how attractive the Leakbot is to the home insurance sector and the potential opportunity.

[solarno lopez] 30/7/2024 08:29

But still positive as we head to b/e

[shortcpx] 30/7/2024 07:17

No numbers as usual.

[pdt] 30/7/2024 06:52

A decent sized win. Looking at the list of the Top 100 Property insurers in the US it would be around 60th. I don't see Mutual of Emm on the list so it is bigger than that insurer. Lots of profitable business to win the US.

I like their careful steady and professional strategy. They are launching this insurer into a state they already have set up and should ensure a smooth roll out with plumbing services in place.

[tom5boy] 30/7/2024 06:25

Strong buy.

[hatfullofsky] 30/7/2024 06:16

Another US contract announced, keep going like this and the market will catch on

[purple11] 29/7/2024 21:31

never buy into a downtrend

wait for it to turn

[hatfullofsky] 29/7/2024 20:38

Fantastic growth from H1 to H2-24 but I will ask (investor meet) about the Exit ARR, as it has not changed. HY24Revenue of GBP1.2mRecurring revenue GBP0.7m (with an exit rate in month of September at an annualised run rate of GBP1.7m)FY24Revenue of GBP2.7mRecurring revenue GBP1.4m (with an exit rate in month of March 24 at an annualised run rate of GBP1.7m)

[mr paul b] 29/7/2024 13:36

They probably couldn't raise at say 25p . You been watching AIM the last 18 months. Loadsa companies been raped on raises . They crack the USA market and it's full steam ahead . As it's been stated their insurance claims ( water) are miles higher than say the Uk

[mr paul b] 29/7/2024 09:23

Agree good set of results on the right path .

[homebrewruss] 29/7/2024 09:06

What's mediocre about them? What were you expecting?
If they can break even by end of financial year which is probably another 90,000 ish leakbots then the following year they should make a very healthy profit if you are able to wait.

[hamidahamida] 29/7/2024 08:38

After seeing today's mediocre results I definitely see continuing share price decline back well below 10p

[pdt] 29/7/2024 06:52

I was pleased to see they are aiming for cashflow breakeven by March 2025. With £3.8m raised recently cash will not be a problem and they should not need to raise again to manage operational growth.

Also interesting to see high renewal rate at 94%.

Mutual of Emm had a cost saving of £150,000 on an initial £15,000 leakbot spend. Craig mentioned cost inflation in water claims is making their offer even more attractive.

The US is clearly their focus of attention and rightly so. The economic case is so much stronger there. It would be good to hear news on progress with other US insurers. I feel news is very close on that front.

I see there are payments to Homeserve US so I guess they are ensuring a high standard of plumbing services that way at least initially.

Overall the Report shows them well positioned for explosive growth over the next few years. I think patience is needed but I am confident that they are well set up for it. Just hope they don't get taken over by a bigger player too soon!

[mdchand] 28/7/2024 14:49

I think the market (like myself) needs a bit more clarity on the physical challenges of rolling out these contracts in the US - specifically do they use their own branded plumbers (higher margins) but it takes time to recruit and train them thereby inhibiting the speed they can role out across the US. The alternative is to lease the plumbing bit to a third party which means quicker execution as people already on the ground but lower margins and issues over servicing and reputation. Hopefully tomorrow will flesh out these issues.

[pdt] 27/7/2024 10:54

tom5boy - I agree with you, Craig and the team have done a fantastic job. They have also had enough time to fine tune and get the offer and business model right.

They are now carefully rolling out state by state. Maintaining a high level of plumbing service and not over extending is crucial. I would like to see news on progress with new national US insurers which will ensure the economies of scale work on a state by state basis. It costs a lot to provide the plumbing service and some states are huge areas so they need enough leakbots installed per area to make the numbers work. More national insurers will help. One more around the size of Nationwide and we are off to the races!