Share Name Share Symbol Market Type Share ISIN Share Description
Osirium Technologies Plc LSE:OSI London Ordinary Share GB00BZ58DH10 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  -0.50 -2.33% 21.00 4,696 11:51:21
Bid Price Offer Price High Price Low Price Open Price
20.00 22.00 22.30 21.00 21.50
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Software & Computer Services 1.43 -3.09 -13.00 5
Last Trade Time Trade Type Trade Size Trade Price Currency
15:59:38 O 131 21.6999 GBX

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Date Time Title Posts
23/7/202117:38The serious business of cybersecurity 194
16/10/200915:50Origo Sino-India19

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Osirium Technologies Daily Update: Osirium Technologies Plc is listed in the Software & Computer Services sector of the London Stock Exchange with ticker OSI. The last closing price for Osirium Technologies was 21.50p.
Osirium Technologies Plc has a 4 week average price of 21p and a 12 week average price of 20.50p.
The 1 year high share price is 33p while the 1 year low share price is currently 16.50p.
There are currently 23,394,755 shares in issue and the average daily traded volume is 50,319 shares. The market capitalisation of Osirium Technologies Plc is £4,912,898.55.
hedgehog 100: Megasonic, I'm not 'equating' OSI to Amazon. I'm saying that OSI can follow Amazon's path in one particular respect (i.e. moving from losses into profits). There is a subtle difference. Loads of companies do it, so what's the big deal? There is also a subtle difference between saying that I've been an OSI shareholder for some time, and saying long-term. I've been a holder in the medium-term, which I define as at least two months but under two years, buying in at about the current share price. I've very pleased with my timing here, and very excited and confident about the outlook. That said, while I'm happy to hold a stock for years, if a story starts to turn sour I never hesitate to dump in minutes. I agree that one must never become emotionally attached to a stock. I would also agree that another placing next year is likely, if the company doesn't get taken over, but when I last checked next year is 2022, not 2021 ... unless I've missed something very dramatic! And considering how some related companies have been doing recently, a placing at multiples of the current share price isn't impossible. Look at Corero Network Security (CNS), which had relatively recently risen well over four-fold in under a year (3.6p to 16p), despite making big losses. Currently 11.1p, market capitalisation £54.93 million. 13/04/2021 07:00 UK Regulatory (RNS & others) Corero Network Security PLC Full year results LSE:CNS Corero Network Security Plc "Corero Network Security plc (AIM: CNS), a leading provider of real-time high-performance, automatic Distributed Denial of Service ('DDoS') cyber defense solutions, announces its audited results for year ended 31 December 2020. ... Revenues increased 74% to $16.9 million (2019: $9.7 million) ... Loss before taxation of $4.0 million (2019: loss of $6.6 million) ..." Corero Network Security (CNS):
megasonic: Hedgehog, in answer to your queries:--'Do you dispute OSI well funded into 2022?'Erm, you have read my previous posts right? I have already said OSI will burn through cash this year and find itself in debt which will require a Placing by April 2022. So, just to be clear, no I do not believe OSI is well funded into 2022. Yes I do dispute a claim to the contrary.--'Do you dispute positive trading news is likely in 2021?'Is positive news possible? Yes. Is it likely? Maybe. Will positive news be substantial enough to avoid a cash call? Definitely not.--'Is Cyber security attractive to investors?'Definitely yes. That's why DARK, KAPE and IGP share prices have performed so well recently. SWG reports results next week and its share price may well follow the uptrend of the aforementioned PLCs. Meanwhile OSI continues to be the laggard of this group which is what makes it so so frustrating.--I mean really? AMZN is the exception, not the rule. This is AMZN revenues growth:1996: $15m1997: $150m1999: $1.5billion 2007: $15billion2017: $150billion In its early days, AMZN was able to reinvest hundreds of millions in development because it was generating billions. OSI is not generating even a fraction of that. It is absolutely fantastical to equate OSI with AMZN. You are an investor who seems to keep themselves informed. You do not need others to point out that OSI is not cybersec's version of AMZN. Seriously, come on man, you don't honestly believe that?--As you are a long term investor in OSI, you must have invested back in at least 2019. Can I ask how much value your holding has lost? My guess is you are down about 50%. If so, I can empathise with the psychology of doubling down on the investment.Look, the purpose of investing is to grow wealth. We commit our hard earned cash in stocks to do this. We must be also mindful to not invest our emotions and biases into the stocks along the way.
hedgehog 100: 11/06/2021 07:00 UKREG Osirium Technologies PLC Final Results " ... The Group spent GBP1.81m (2019: GBP1.77m) on direct staff and contractor costs for research and development, of which all was capitalised in both periods. This expenditure pertains to developing the Group's new and enhanced software offerings. The Group continues to invest in new product development, as well as the continual modification and improvement of its current product base to meet technological advances, customer and ever-expanding new market requirements of the rapidly evolving cybersecurity market. ..." OSI market capitalisation at the current share price of 21p: £6.17 million. Divided into OSI 2020 R&D spending of £1.81M. = PRR (price-to-research ratio) of 3.41. This highlights OSI's quite fantastic value and growth prospects.
hedgehog 100: Megasonic, Why is it fantastical to think that OSI can follow Amazon's path by moving from losses into profits? It's a common journey followed by numerous tech companies. Just as it is commonplace for such companies to fall heavily before rising again: Amazon for example at one point fell by 95% in in its loss-making period. And when the share price reverses upwards, the same obviously happens with the fundraising prices. Let me ask you the following: • Do you dispute that OSI is well-funded into 2022? • Do you dispute that positive trading news, including specific contracts wins, is likely in the rest of 2021? • Do you dispute that OSI is operating in a tech area that is very attractive to investors? That being the case, why exactly do you think that the share price will fall rather than rise, when all commonsense and logic suggests that it will rise? I would add that I have been an OSI shareholder for some time, buying in for about the current share price, but had no intention of posting here until I was stung into doing so by your deramping nonsense!
hedgehog 100: As regards the DARK comparison: when I last checked a while ago, its price-to-sales ratio was about ten times that of OSI's, and may now be even higher. I.e. on that basis OSI would have to rise about ten-fold to be valued on the same multiple of revenue. Though it's easier for a small company like OSI to grow its sales more rapidly than a large company like DARK. One very large contract for OSI could potentially double its revenue, but realistically that couldn't happen with DARK. And OSI clearly has a very supportive base of support in the investment community, as it was recently able to raise over £2M. very easily indeed (in under a day), with a relatively negligible discount: 22/04/2021 16:41 UK Regulatory (RNS & others) Osirium Technologies PLC Proposed Placing and Subscription & Notice of GM LSE:OSI Osirium Technologies Plc 23/04/2021 07:00 UK Regulatory (RNS & others) Osirium Technologies PLC Result of Placing and Subscription & TVR LSE:OSI Osirium Technologies Plc FOCUS in business and investment is good, and OSI has that, which appeals to me and many other investors. There is a Chinese proverb that says: "If you chase two hares, both will escape."
hedgehog 100: "The only positive that I see here is that this company might be a decent candidate for a takeover. Otherwise there are better cyber security prospects out there than OSI. Shearwater [SWG] looks like it could do well in the future. Intercede [IGP] has been delivering consistently for a couple years now." Megasonic, Those two companies don't appeal to me, as they (especially SWG) look relatively 'boring' and 'stodgy' in comparison to an exciting, very small cap. growth play like OSI. If they appeal to you, then why not just invest in them, and forget about OSI?! After all, are OSI shareholders going to the boards of those companies to slag them off?! My basic take is that you are VERY interested in investing here, so are trying to scare some naive investors into dumping at the bottom, which is frankly rather unpleasant.
hedgehog 100: "But also not good enough to offset cash burn which shows business model is not working." Megasonic, The business model IS working. The business model is to invest in growth, making losses during the company's development stage, to then move into profit later when revenues have risen sufficiently. This is a very common business model in the tech sector, and indeed was one used by Amazon, a thousand-bagger. Amazon consistently lost money for its first several years as a public company. OSI's impressive level of growth during the pandemic, when many companies have seen their revenues fall, shows very clearly that the model is working. And the amount invested into the business shows the immense value here, and represents a strong barrier to entry. The company raised over £2M. just three months ago, so to deramp about another placing already smacks of desperation on your part. And that placing was not heavily discounted at all: "The Placing and the Subscription are being undertaken at a placing price of 22 pence per share, which represents a discount of approximately 10.2 per cent to the closing middle market quotation of ordinary shares in the Company (the "Ordinary Shares") as derived from the Daily Official List of the London Stock Exchange on 21 April 2021 (being the latest practicable date prior to this Announcement)." I think that we can expect a strong second half of newsflow from OSI, driving the share price to much higher levels, so that any fundraising next year will likely be at a large premium to the current share price of just 21.5p. That of course is if the company is not taken over first at a hefty premium ... and at its current depressed share price it must represent a very tempting target.
megasonic: Also, I agree with you that losses are part of starting a business. But OSI are hardly a new business - the company has been publicly listed for 5 years and been operating for a lot longer than that. As for comparisons with DARK, I'd encourage you to be mindful of false equivalencies as these are 2 very different firms. OSI does not have the institutional backers of DARK therefore OSI lacks the 'blue chip' tag. I don't know that much more about DARK so I won't comment further on them. A more accurate comparator for OSI though, would be IGP. Both are cyber security firms working with corporate clients. OSI seem to be solely focused on PAM while IGP are working on more diverse technologies including PKI, FIDO and MFA. This allows IGP to benefit from a wider market than OSI. This is OSI's Achilles heel: a small addressable market. If OSI Board are unable to widen their market then they are unlikely to increase revenues to necessary levels which in turn means they must cut costs. The biggest cost in cyber security is the wage bill, therefore the Board would unfortunately have to downsize their team.
hedgehog 100: "IMO the only thing that has seen long term growth here is the Directors’ bank balance, at the expense of the small cap investor." "I maintain my main concern about OSI is its continued annual losses. The company needs to almost double current sales (based on past performance this seems unlikely) or cut the wage bill by 40 per cent." Megasonic, Here is the record of OSI's annual revenues reported since floating in April 2016: 2015: £290,150 2016: £477,577 2017: £647,580 2018: £957,461 2019: £1,171,586 2020: £1,434,875 I.e. a circa five-fold increase in annual revenue in five years. And the 2020 performance would probably have been even better but for the pandemic. Moreover, this rate of growth has the potential to accelerate considerably, given that ransomware protection and privileged access management have recently become much greater concerns. Losses are par for the course for many growing tech companies, but provided the growth story is exciting enough investors are generally happy to fund them. Look at DARK (Darktrace): in the six months ended 31.12.20 it lost 48 million dollars, and yet its share price has been flying since it floated in the spring.
megasonic: I've been watching OSI for a couple years now, expecting them to turn the corner so I can time my buy at the bottom of the curve. Well I can tell you the corner has never come. And I never hit the "Buy" button either. I posted on this BB about 6 months ago that admin costs (ie salaries) make up bulk of costs and yet annual accounts never make mention of how much the Director's are raking in salary. What is that about? I'm sure it is a legal requirement for that information to be disclosed. Year after year OSI makes a loss and cash position continues to reduce. Year after year the annual report uses the same phrase: 'lower cash balance reflecting continued investment in long term growth'. IMO the only thing that has seen long term growth here is the Directors' bank balance, at the expense of the small cap investor.Anyone looking to invest here, I strongly recommend you research the past 4 years performance (and I think 3 placings in that time). And ask the question that if a cyber-security firm can't turn a profit in this era of increased digital use, then when will it ever? How can bookings for cyber-security decrease at a time when use of online work tools has increased exponentially?I'm not trying to devalue or deramp anyone's investment here, but it boils my blood when I see a Board take investors for granted by continually tapping them for money and then show no interest in delivering success. There's a reason share price fell from 140p to 14p in 12 months.I don't know how Stifel are rating OSI as a Buy with a 113p target. From what I've seen OSI will make another loss in the coming year, then return to market, cap in hand, for more investor funds in Q2 2022. The only positive that I see here is that this company might be a decent candidate for a takeover. Otherwise there are better cyber security prospects out there than OSI. Shearwater [SWG] looks like it could do well in the future. Intercede [IGP] has been delivering consistently for a couple years now. DYOR
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