Open Orphan Share Discussion Threads

[sikhthetech] 14/6/2022 13:43

Where's the profit? How much current cash do they have? They won't say.

Where's the income statement account from the parent company?



Which entity do you shareholders have shares in? It's not the parent company which made a £1.5m loss, is it?


From the results:

"The Company has elected to take the exemption under section 408 of the Companies Act 2006 not to present the parent Company income statement account. The loss for the parent Company for the year was £1,522,000 (2020: loss of £1,891,000)."

[m5] 14/6/2022 13:27

Lets give management some credit. They will not be pushing through these contracts for the sake of it. Margins I am sure will be at the forefront of their minds.

[greenelf] 14/6/2022 13:24

Unless they can enhance profitability, there is little upside here. Contracts and turn over are fine but where is the profit going to come from?

[m5] 14/6/2022 13:06

Ok, but lets remember the market is littered with companies, even in this market, that are delivering nothing, burning cash, and have ridiculous valuations, coming to market every 5 minutes with their hands out. Lets not over do the downside here.

[horsefeathers] 14/6/2022 11:47

Shandy - not deramping, just trying to inject some honesty (I would have thought ORPH investors would welcome this under the circumstances) about what is really happening and why the share price is doing what it is. The announcements and hype and ramping and big talk are all fine, but haven't we heard all that before? I am simply suggesting that the market has had enough of it, and puts it into the "Jam Tomorrow" bucket. The market is in "seeing is believing" mode on ORPH. Show us the money. If they announced the H1 2022 numbers (ON TIME for a change - not dragging it out until the last minute) and they said that revenues are £25m for H1 and EBITDA is £2.5m (without any funnies included), then the current price might be justified. In the meantime, the share price will drift downwards.

[kispis59] 14/6/2022 11:07

Spot on m5....revenue is great and hopefully accretive to the bottom line as costs are semi-fixed...but OO has yet to report a FY of actual profit!! This is what Mr Market wants to see!!

[qackers] 14/6/2022 10:42

Its good to hear Andrew Catchpole emphasise the considerable operational and financial benefits that companies get from doing challenge studies. Not sure if that has been sufficiently recognised by the market.

On a personal note to reinforce the importance of this work, my granddaughter of 14 months recently contracted RSV and was one of the unlucky few who had to be hospitalised. Her breathing looked like a balloon being inflated and then deflated. Very scary for all. At one point they had an ambulance standing by to take her to another hospital where they could put a tube in her to help her breathing. Fortunately she rallied and that was not necessary. She is now fine but I then started to hear of more and more babies who had that experience.

[shandypants2] 14/6/2022 10:41

Horsefeather - what a pathetic attempt to deramp. Let's take the worst hsitoric figures i can find and apply a PE of 20. Where do i start? How about taking the whole of 2021 and not H2 which was adversely impacted by a delayed study. How about taking 2022 rev which is £50m. How about valuing the company based on a revenue multiplier instead of PE (as OO is transforming from a loss making to a profitable company). How about including spin offs (valued at 9p by FinnCap) and the current cash position is c2p per share. All conveniently ignored by you. Why post such rubbish on a day when a decent new contract gets announced? Really sad

[m5] 14/6/2022 10:22

Only conclusion I can draw is the old turnover vanity profit sanity. The Market does obviousely not believe that this will translate into meaningful numbers to the bottom line.

Not being negative, its just how I see it. Nothing else really adds up.

[gregb] 14/6/2022 10:21

Mr Catchpole:hTTps://youtu.be/SIseKwu0ZXo

[666james] 14/6/2022 10:09

my buy has gone thru' as a sell.

[roleybirkin] 14/6/2022 09:48

When will we see that Trading Update?

Surely, there must be one due?

Mo has confirmed that the 2022 guidance for £50m has been secured and the company signs yet another contract covering 2022 and into 2023…

[roleybirkin] 14/6/2022 09:46

And any shareholder who thinks cash is still at £15m and change may be well off the mark.

Each of these signed contracts brings a ‘payment up front’.

I am suggesting cash is through £20m…

Enterprise value here is now below £64m in my opinion.

[m5] 14/6/2022 09:28

" The record order backlog as at 1.6.2022 has now extended to £71.4m"

[chica1] 14/6/2022 09:24

It's probably you posting under a different handle.

[m5] 14/6/2022 09:10

www.proactiveinvestors.co.uk

[jason_scrap] 14/6/2022 09:10

Horsefeathers gets it. About time another realist lol. You lot should be learning from him/her. Post 4011 nailed it. Well done

[troutisout] 14/6/2022 09:05

HorseFeathers can I suggest most understand when they state they have got booked all the expected revenue for 2022 and then they win more trials and state that income will be received in 2022 and 2023 that will be extra…
Lots of people trying very hard to put people off here.

[chica1] 14/6/2022 08:55

No volume unfortunately..its hard to press the buy button in a bear market.

[m5] 14/6/2022 08:51

marvelman 14 Jun '22 - 08:38 - 4009 of 4010

Indeed. When the market seemingly ignores a great growth story, the Worlds no 1 in HCS, why would you not be interested. The markets create opportunity.

[horsefeathers] 14/6/2022 08:45

The problem with announcing all these contract wins is nobody knows how to factor them in to financial forecasts. Are they already in market expectations, are they incremental to market expectations, or perhaps even lower than was expected? Exactly when will they produce revenues, and in which year(s) will the revenues and any profits fall? What the market does know is that if you subtract the second half of 2021 from the first half, you get £14.9m of revenues and £0.8m of EBITDA in H2 2021. At that run rate, annual revenue is £30m and EBITDA is £1.6m, so if you apply a generous multiple of say 20x to that you get £32m market cap or 5p per share. That is what the company is worth, assuming the revenues don't continue to fall as they did in 2021 by 30% from H1 (£22m) to H2 (£14.9m).

[troutisout] 14/6/2022 08:42

Looks like buys going in under mid price, also looks like someone has added 6 x £5k clips this morning.