Ondo Insurtech Share Discussion Threads

[hamidahamida] 12/11/2024 08:03

The service will be available to both existing and new customers as a standard part of Nationwide's homeowners insurance offering."- "Nationwide recognises that LeakBot has already demonstrated remarkable success, with a Net Promoter Score of +87 and an average Customer Satisfaction score of 4.9 out of 5 among Nationwide customers."- "The commercial details are confidential but Ondo confirms that the structure of the deal includes advance prepayments ahead of order deployments meaning the working capital requirements of this expansion are fully funded."This is a HUGE step change for ONDO.

[mr paul b] 12/11/2024 08:03

I like this statement .The commercial details are confidential but Ondo confirm that the structure of the deal includes advance prepayments ahead of order deployments meaning the working capital requirements of this expansion are fully funded.

[hamidahamida] 12/11/2024 07:58

One of the biggest US honestly insurer Nationwide is going BIG #ONDO #LeakBot in USA - Now expanding to all customers in PennsylvaniaMarylandNorth CarolinaVirginiaMontanaIdahoKentuckyIndianaVermontOregonWest VirginiaTennesseeIllinoisNew HampshireWashington+ Ohio.

[hamidahamida] 01/11/2024 14:07

Let's hope that lightning gets released on next much anticipated significant news flow

[mr paul b] 31/10/2024 09:51

We've captured lightning in a bottle . Phrase from Jim Strickland ..

[homebrewruss] 31/10/2024 09:37

Another new interview including Jim Strickland.
New announcements hopefully before the end of the year and a 'dozen' new prospects from the ITC conference.

[mdchand] 29/10/2024 23:40

They must have signed the contracts - subject too - whatever is waiting to be confirmed. Weird to announce the expansion before the contracts are signed, but I guess the US insurers wanted certainty they could meet the demand.....

[homebrewruss] 29/10/2024 16:18

Another one

[homebrewruss] 29/10/2024 15:18

Brief CEO interview re ramp up and upcoming contract news

[tom5boy] 28/10/2024 22:16

£3 million raised in placing back in the summer which gives a financial runway into profit.

[homebrewruss] 28/10/2024 18:24

They have been planning for breakeven for March end 2025 sounds like the expansion of existing deals and new ones will get them there and beyond.
Could be another placing at some point to help meet the plans but think you guys have missed any discounted ones - sounds like they have enough news coming to reach escape velocity.
Re plumbers there have been adverts recently for plumbers in the states they are about to expand into.

[shortcpx] 28/10/2024 16:04

Get a PCB account with someone like Shard Capital or SI Capital. Then tell them you want in on any future placing. Nice expansion plans but these guys are always raising money

[mdchand] 28/10/2024 15:35

Hi - edited for main market - with thanks.

[bollockks] 28/10/2024 15:28

Hi mdchand
Main market not aim

[rickyj3] 28/10/2024 15:17

How can I get in on the discounted placing do I call my broker

[mdchand] 28/10/2024 15:16

So Dowgate estimated the cost of expansion as being approx 100k, so I'm not entirely sure whether there will be a discounted placing. And don't forget, the insurance companies normally pay upfront for the Leakbots so there shouldn't be any ST cash flow issues.

[rickyj3] 28/10/2024 15:00

How can I get in on the discounted placing do I call my broker

[shortcpx] 28/10/2024 14:47

When's the placing?

[mdchand] 28/10/2024 09:47

Dowgate broker note issued today mentions Ting as another IOT disrupter. Since inception 4 years ago, Ting (it looks at fluctuations in electrical currents to see if you have electrical sparking - a precursor to a fire) have sold 1m units and are being installed at 50k units per month. User has to pay $100 per unit. Leakbot is basically the water equivalent. But with insurers picking up the unit cost, installation rates could easily surpass Ting's on an accelerative basis. My only concern (expressed before) is whether they have the after-service infrastructure to support the role out of Leakbot. They can charge more to provide own branded plumbers, but in the US, if they want to accelerate growth, they will have to use third party plumbers which will mean revenue sharing agreements. Even so, if we assume 1m leakbots generating $2.5 per month, the numbers get pretty big (on a recurring basis).

[trotterstrading] 28/10/2024 08:59

Should see a nice run up from here in the lead up to what looks like nailed on US partner expansion deals.

[geoffsh] 28/10/2024 08:24

News doesn't get much more positive than this with apparently more positive news in the pipeline.

[mdchand] 28/10/2024 08:10

I remember an interview a couple of years ago where Ondo said they could add additional capacity at little cost. X4 additional capacity must leave some excess based on initial conversations but shows line of direction very clearly. Very bullish signal indeed.

[geoffsh] 23/10/2024 19:17

Looks like everything went well in the US of A.


This is worth a look.


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