Osirium Technologies Share Discussion Threads

[kemche] 09/5/2023 11:35

That is huuuuge scale. Afzal and Gruen the background buyers.

[porky9] 22/4/2023 12:07

The further changes to the options still reward the previous failure but I was impressed that they have at least taken onboard SH feedback with the fix at 2p. Why it wasn't at least 10p to give them something to work towards I will never know but it’s a start. The potential here is just enormous

All eyes now are on proposals for getting cash burn under control and how they sort the funding gap. At the current rate by my rough calculation they need about a £7m raise to give them a good clear two year runway to turn this around. Ultimately it could be a good thing if an II will take a decent position.

[kemche] 18/4/2023 08:01

Well that was a slap on the wrist.

[paul tudor jones] 05/4/2023 19:42

Landing soon.

[danboris2] 03/4/2023 16:22

Totally agree with you here Porky. Reward for failure. I was about to top up. Thinking twice now

[chesty1] 03/4/2023 08:34

Upside down whoosh maybe! ouch.

[kemche] 03/4/2023 07:16

Excellent options plan.

Whoosh!

[kemche] 01/4/2023 15:16

SWG and NCC results should give this a boost.

[kemche] 01/4/2023 15:08

Minimum 20 bagger.

GLA LTHers.

(but first the fundraise)

[valuetracker] 31/3/2023 15:56

Everyone waiting on the sidelines for a placing to be announced. The placing shares have more than likely already been forward-sold. Rinse and repeat.

[markinvestor] 29/3/2023 05:59

ALLENBY CAPITAL NOTE OUT

Continued momentum; positive outlook
Finals from Osirium Technologies plc (OSI.L), the leading vendor of cloud-based cybersecurity and IT automation software, were in line with January’s pre-close and somewhat ahead of previously upgraded forecasts. There was encouraging progress on all KPIs (bookings, annualised recurring revenue (ARR), average contract value (ACV), customers wins and renewals) and existing customers are expanding their usage of Osirium’s product set. Cash at year end of £1.2m (ACLe: £1.1m), reduced to £0.7m at the end of February but we anticipate an R&D tax credit (£0.6m) and Osirium has also completed a significant cost reduction programme (c. £1m p.a.). FY23 has started well with management reporting continued momentum in bookings and new customer wins. Osirium’s ‘land and expand’ and ‘partner-first’ strategies are both delivering and demand for its cybersecurity software remains robust with many cyber insurance policies now requiring privileged access security. Forecasts remain unchanged.
– Financial performance: Total bookings +86% at £3.0m (ACLe: £2.8m) as the company secured more customers (+46% to 150), increased average initial contract values (+93%) and high customer renewal rates (96%). Annual recurring revenue (ARR) +28% to £1.9m and total recognised revenue +31% to £1.9m. Deferred revenue £2.7m (FY21: £1.6m). Adj. EBITDA loss flat at £1.5m (ACLe: £1.3m) with some spending normalising and investment in sales and marketing offsetting the increase in revenue. The £1m p.a. cost reduction programme was completed in January. Cash of £1.2m (ACLe: £1.1m) following two raises in FY22 fell to £0.7m at the end of February but we anticipate a £0.6m R&D tax credit.
–Operational performance: Increased subscriptions for PPA (privileged process automation) and PEM (privileged endpoint management) to both existing PAM (privileged access management) customers but also sales to new customers. Wins spanned multiple new sectors and geographies, including the first US contract, the most developed PAM market. Many of these customers were secured via channel partners. >70% of customers increased the range of services taken or licence count during FY22. 10% of customers have more than one Osirium product and some, such as TalkTalk, take all three. This demonstrates the success of its ‘land and expand’ and ‘partner-first’ strategies.
– Outlook: Bookings and pipeline growth momentum has continued in FY23 and customer purchasing patterns are normalising post the pandemic and demand. Key target markets continue to be healthcare, higher education and financial services plus new areas such as food manufacturing. As knowledge of privileged security is maturing, sales cycles are reducing and privileged access security is becoming a key cyber insurance requirement, driving demand. Osirium can differentiate itself by its speed of deployment and price point and is winning in competitive situations. Forecasts unchanged.

[kemche] 28/3/2023 12:23

The price has been wrong since £1.56 and been getting wrongerer ever since.

[kemche] 28/3/2023 12:19

They are all right. It is the price that is wrong.

[sooty snipes] 28/3/2023 12:16

Some pretty savvy investors bought into this at 2p a share. I might be wrong but wasn't Nick Slater head of tech market making at Merrill Lynch? Add to that Katie Potts and Mark Horrocks. Can they all be wrong? Add to that didn't David Guyatt buy 5 million shares at the last raise? It's a gamble but the risk/reward to the upside is beginning to look enormous

[kemche] 28/3/2023 12:09

Afzal buying every last one of these on the treeshake to fill a large background order before the inevitable. David Alan Tom quietly accumulating to maintain his 100% record.

Lucky sods!

[volsung] 24/3/2023 16:03

Might be worth a punt after the next placing

[chesty1] 24/3/2023 13:12

only gonna get cheaper.

[kemche] 24/3/2023 10:29

Afzal and the crew buying up all the cheap shares along with David/Alan/Tom.

[chesty1] 23/3/2023 10:18

Ouch what a dog!!!

[bozzy_s] 23/3/2023 09:52

Wow! Shocking results. Terrible balance sheet - now negative equity. Lifetime losses now over £20m.

And despite this terrible performance, the CEO had the cheek to call it 'another year of significant progress'.

And furthermore in the Financial Highlights they mention cash and debtors having risen by £0.5m, without stating that creditors increased by £1.2m! Very misleading.

A long-standing basket case company. Worth less than zero. And scarily it seems the CEO's happy with that performance!!!!

[kemche] 23/3/2023 09:09

and cash and debtors at 28 February 2023 of GBP0.70 million

Operating loss of GBP3.36 million

Trade and other payables 3,307,313

Purchase of intangible fixed assets (1,960,912)


Utter basket case of a company.

Let's just have another fundraising FFS!