Pebble Beach Systems Share Discussion Threads

[p1nkfish] 31/8/2023 11:53

The 2.0 news and mentioning meeting customers at IBC might have woken up some interest?

[p1nkfish] 31/8/2023 11:38

Interesting pop-up in price and volume at the open compared to usual.
It should be over 8p from what I see and could justify higher still, even at this point, 10p+.
8p ask at the moment.

20p target by Finncap. If they execute well H2/23, H1/24 expect the target price to increase.

Dyor etc, I'm often wrong.

[p1nkfish] 31/8/2023 08:30

2.0 now in release.

Expect a major sales push, add in £8.5M pipeline with H2 revenue target of £6.5M plus end of life of a competitor product........

No surprise if they surprised. If not H2 then during 2024.

Dyor etc.



I also think they will be well on the radar of other larger entities.

[p1nkfish] 30/8/2023 07:50

PEB would do themselves a favour if they investigated optimising their approach to search - SEO - Search Engine Optimization. It needs attention.

[p1nkfish] 24/8/2023 16:50

A healthy share register matters. 5630 shareholders is legacy baggage for such a micro/nano-cap that could be easily more than halved at relatively low cost via an offer of cash and cover of costs then cancel them down. For anyone holding 1000 or less.

A little higher, around £500K currently, could take the register down to about 470 holders and clear-out 90%.

I've had this conversation elsewhere in the past with the argument being the cost of servicing those holders is minimis as distribution is digital. However, that can change when it comes down to distribution of future dividends. There is a distribution value (div/share) below which it can matter.

Clearing out runt shareholders at some point is worth thinking about if PEB is to remain independent.

I like to see an analysis of shareholders so I have a better feel for who I am in bed with outside of the 3%'ers. How many others.

Personally, I don't consider this a healthy share register - just my opinion.

[sharw] 24/8/2023 15:26

I am surprised that an 'analysis of shareholders' table is still published - many companies no longer do that since most (beneficial) shareholders are lumped together as part of their broker's nominee a/c, which counts as 1 shareholder.

As for your obsession with those holding 1,000 or less you have to remember that from Nov. 2006 to Feb 07 the share price was around the 100p mark. I suspect many of the 3438 bought around that time (certificated was more common then) and shoved the certificate at the back of a drawer when everything collapsed in 2008.

[p1nkfish] 24/8/2023 14:43

Post 294, page 92 of annual report.

"Analysis of shareholders is interesting. The highest number of shareholders (3438, 61% OF ALL SHAREHOLDERS) hold < 1000 shares, £70 average each at 7p. Why bother?

1% of all shareholders (61) held 90% of all shares. 30% with Kestrel"

The 60 left over own >= 100K each.

[jim208] 23/8/2023 15:42

Agree with gdjs100 on patience. Anyone who goes back to the 2017/ 2018 RNS's from the company will see a strategy put in place to right-size the business, develop a plan for managing debt, to develop the business and navigate through to a place of a healthy operation with strong margins, good profitability and good prospects.

We are now seeing that work pay off, debt is now much lower and fortunately interest rates stayed low for the worst period of the debt management. I agree that renewed investor confidence generally along with this improving picture should see an opportunity for these shares to re-rate significantly on any beat to forecasts.

[p1nkfish] 23/8/2023 13:54

Agreed, have been buying over a period of time, hold quite a few.
A director purchase would do wonders.
Could make a really useful acquisition to a number of players.

[gdjs100] 23/8/2023 13:30

I have lots of patience. Debt has come down from 11m to 5m over 6 years, all key metrics pointing in the right direction over the long term (notwithstanding lumpy half on half variability). Continued progress with PBT and net debt, along with a bit of general market optimism, should see these on a more normal rating.

[p1nkfish] 23/8/2023 13:08

Give it another 12-18 months but how many have the patience?

[p1nkfish] 23/8/2023 10:59

OK. Slow burn waiting for tipping point of debt vs revenue when price should respond. No surprise if a bigger than usual dent in debt is made in H2.

[ali47fish] 23/8/2023 10:22

any comment about todays update -sp down 5 pc

[arthur_lame_stocks] 21/7/2023 19:17

I thought the trading update was encouraging. I don't know about working capital but despite increased investment in new products and staff they still seem to have made a substantial dent in net debt.

[p1nkfish] 21/7/2023 13:02

Interesting pop-up post TU.
A good sign.

[p1nkfish] 10/7/2023 22:35

Pebble website a47f.

[gdjs100] 10/7/2023 22:35

Lots of fish in here.

[ali47fish] 10/7/2023 22:16

pin where dow the information come from

[p1nkfish] 10/7/2023 20:53

An excellent win.

[gdjs100] 06/7/2023 20:07

3. Live Event Production and Streaming - you mean, just like Vislink used to do? Not sure I fancy revisiting that just yet...

[p1nkfish] 06/7/2023 19:50

As Pebble Beach Systems, a provider of playout automation, content management, and IP control solutions for the broadcast and streaming service markets, there are a few adjacent markets you could consider to expand your product offerings:

1. Post-Production and Media Asset Management: Consider expanding into the post-production sector by offering solutions for media asset management (MAM) and editing workflows. Many broadcasters and content creators require efficient tools to manage their media assets, streamline collaboration, and facilitate editing processes. By integrating your playout automation and content management solutions with post-production workflows, you can provide a comprehensive end-to-end solution for the entire content lifecycle.

2. Over-the-Top (OTT) and Video-on-Demand (VOD) Platforms: With the rise of streaming services and the increasing popularity of OTT and VOD platforms, there is a growing demand for advanced content management and delivery solutions tailored to these platforms. Expanding your product offerings to cater specifically to OTT and VOD providers can help you tap into a rapidly expanding market and offer solutions that address their unique requirements, such as dynamic ad insertion, personalized content recommendations, and subscriber management.

3. Live Event Production and Streaming: Another adjacent market to consider is live event production and streaming. Many organizations, including sports leagues, concert promoters, and corporate event planners, require reliable and scalable solutions to capture, produce, and deliver live events to audiences worldwide. By leveraging your expertise in playout automation, content management, and IP control, you can offer comprehensive solutions for live event production and streaming, enabling seamless delivery of high-quality live content across various platforms.

4. Virtual and Augmented Reality (VR/AR) Broadcasting: The growing interest in immersive technologies presents an opportunity to explore the VR/AR broadcasting market. By developing solutions that enable the playout automation, content management, and IP control of VR/AR content, you can cater to broadcasters and streaming service providers looking to deliver immersive experiences to their audiences. This could involve integrating with VR/AR production tools, optimizing content delivery for VR/AR platforms, and providing efficient workflows for managing VR/AR assets.

Expanding into these adjacent markets can allow Pebble Beach Systems to diversify its offerings, tap into new customer segments, and capitalize on emerging trends in the media and entertainment industry."

[p1nkfish] 05/7/2023 17:30

An adjacent market might be the video encoding and transcoding sector and another being video delivery and content distribution. Would these compete with the existing customer base?

"Video encoding and transcoding involve the process of converting video content from one format to another, ensuring compatibility and optimal quality for different devices, networks, and streaming platforms. This sector is crucial for broadcasters and streaming service providers as they need to deliver their content in various formats and bitrates to cater to a wide range of devices and network conditions.

Effective video encoding and transcoding solutions play a significant role in delivering high-quality video content while optimizing bandwidth usage and ensuring efficient delivery. These solutions often integrate with playout automation, content management, and IP control systems to provide a seamless end-to-end workflow for broadcasters and streaming service providers.

Additionally, the sector of video delivery and content distribution can also be considered adjacent. Once the content is encoded and transcoded, it needs to be efficiently delivered to viewers across different platforms and devices. Content delivery networks (CDNs) and streaming platforms specialize in this area, ensuring smooth and reliable content distribution globally. Integration with playout automation, content management, and IP control systems helps streamline the entire content delivery process."

Courtesy of ChatGPT.

[p1nkfish] 05/7/2023 17:21

Strategic Report makes it clear they seek investment, might mean dilution.

Analysis of shareholders is interesting. The highest number of shareholders (3438, 61% OF ALL SHAREHOLDERS) hold < 1000 shares, £70 average each at 7p. Why bother?

1% of all shareholders (61) held 90% of all shares. 30% with Kestrel so the other 60 hold about 1% each.

They want 60 % recurring revenue by 2025. In 2022, £4.6M was 41% of £11.2M revenue.

Guesstimate........
Say 3.5% revenue growth p.a. that's £11.88M revenue by 2025 and £7M recurring approx.
Say 75% gross margin (may edge up as ARR grows) that's £8.9M gross with £5.3M fairly stable.

They are looking for an adjacent market sector to address and add £5M revenue from it by the end of 2027.

Outside of economic uncertainties, possible dilution and debt hang heavy imho.

[p1nkfish] 03/7/2023 07:40

For the year ended Dec 2022, John Varney wrote (emphasis mine):

"........we remain confident in our strategy and encouraged by the continued strengthening of the Group's revenues and financial position and INCREASING LEVEL of recurring revenue."

Well the 2022 ARR was only 0.7% above 2021. A noise level increase and easily set-back on a small cancellation of some sort. I therfore take this statement to infer he has some forecast suggesting an improvement over that as 0.7% isn't worth banking on.

With the move to IP perhaps the proportion of associated ARR increases? ARR at good margin usually gains a decent multiple in valuation.

Decent interest rate out to 30th Sept 2024 (5.23%) but unless something changes probably heading higher thereafter so good to focus on chomping away at the burden unless some substantial growth opportunity needs funding.

I hold and have added every so often.

[p1nkfish] 03/7/2023 00:12

Expecting ARR to tick-up this year from +1% inc in last year.