Sondrel (holdings) Share Discussion Threads

[smackeraim] 05/6/2023 12:25

"as we progress to our medium-term target of revenues of over GBP100 million""Record new design orders received in the automotive, Edge AI, mobile, networking, and aerospace markets totalling GBP25.6 million"

[smackeraim] 05/6/2023 11:05

Designed to be the solution for an AI compute device right at the Edge, Sondrel's new SFA 100 IP reference platform makes creating high-performance, battery-powered IoT devices easy and fast. The design has an onboard Arm® CPU to locally process data gathered from its associated sensors for onward transmission via wire or wireless connection for further analysis.

[smackeraim] 02/6/2023 19:03

https://www.sondrel.com/about/applications/ai-at-the-edgeHuge advances in electronics have been made by giving devices access to the computing and storage power of huge server farms via the internet to provide a high level of Artificial Intelligence (AI). But these use a huge amount of electricity giving them a large carbon footprint let alone all the power used by the internet infrastructures.In the drive to reduce carbon emission, Sondrel is designing solutions for customers that have the AI in the device – also known as AI at the edge. It's our sweet spot of designing ASICs that integrate a huge number of features into one chip.

[gopher] 24/5/2023 10:57

This is a comprehensive update from the Company. I will wait and see analysis from the presentations but my view is that Company is growing quickly, with profits and some being reinvested in the next phase of growth. A company like this is rare on AIM.

[gopher] 21/5/2023 18:12

On investor meet this week thursday

[gopher] 18/5/2023 10:18

There has now been a significant slippage in share price - I am not not phased by poor communication as long as directors are putting their efforts in running the company.

[garbetklb] 16/5/2023 09:23

Pretty poor investor comms. I also emailed the FD a while back (guessed his email address) - no answer, so i assumed my guess at his email address was wrong. After a few weeks, I got a "read" acknowledgement - but no response......
Also messaged their financial PR asking about timing of results & AGM - as I'd like to attend the AGM; no response......

[gopher] 15/5/2023 10:43

I agree and no doubt will be picked up on next week. I can't see any opportunities for PI involvement ?

[muzerewa] 15/5/2023 08:03

Some slippage on the payment for the second milestone of the Tier 1 OEM automotive contract. First it was expected in 2022, then in Q1 2023. Now, in mid May 2023, it's expected "in a few months time". It's now framed in the context of a "redefinition" of the milestones but the language is a bit vague and mealy-mouthed. slightly concerning.

[cottoner] 27/4/2023 15:50

Sondrel engages The SHD Group to assist in bringing Architecting the Future to the American market

Architecting the Future de-risks ultra-complex ASIC projects


Reading, UK – April 25, 2023 --- Sondrel (Holdings) plc (AIM: SND), has engaged the San Jose-based firm, The SHD Group, to assist in bringing its innovative, Architecting the Future™ ASIC approach to an expanding customer base in North America. This design approach significantly de-risks the realisation of ultra-complex, leading-edge ASICs which Sondrel specialises in providing for industry-leading customers in areas such as high-performance computing, automotive, artificial intelligence, VR/AR, video analytics, image processing, mobile networking and data centres.

“When a mask set for a 5nm design can cost over $10 million, our customers seek absolute confidence in having the design right first time and on time,” explained Graham Curren, Sondrel’s CEO and Founder. “Our unique approach, which we call Architecting the Future, is how we achieve this. It brings together all our design experience, IP, flows and custom tools developed over the past twenty years to ensure we deliver exactly what each customer wants. Fundamental to this is our SFA family of reference platforms. Each reference platform can be adapted with different processors, memory and IP to meet or exceed a customer’s exact specification. This results in a much more directed process than starting from a blank sheet of paper every time and significantly reduces risk as we are using high quality design flows and well proven building blocks.”

Sondrel chose The SHD Group as it provides its clients with access to top-level contacts within the Silicon Valley community. “Any deal worth many millions for the design and supply of a new chip is decided at the topmost levels of a company,” said Derek Meyer, Founder and CEO of The SHD Group. “We have a team that has successfully closed numerous, multi-million-dollar agreements so we know that it takes building relationships and trust between supplier and customer. Furthermore, we have done our own research on Sondrel’s Architecting the Future solution and we believe that their approach, incorporating the SFA platforms, reduces design and schedule risk for customers, giving Sondrel a big edge over competition.”

With the USA’s CHIPS act in place, many American companies are keen to create new, secure supply chain models. Sondrel, based in the U.K., is ideally positioned to provide full turnkey services that meet this need.

“The timing is perfect,” said Ian Walsh, Sondrel’s VP ASIC Business Development. “There is a window of opportunity opening up for Sondrel to become a leading supplier of the ultracomplex chips that the industry needs for its future products. The SHD Group, with their extensive connections, can open the doors to enable Sondrel to be the supplier of choice for the innovative chips that are the industry’s lifeblood.”

[thomas11] 27/4/2023 14:44

Thought this might move a little today given Ensi results which showed a 30% increase in EBITDA, hopefully Sondrel will provide an update soon.

[garbetklb] 03/3/2023 11:10

In view of the volume from 3pm yesterday, I presume Sondrel has been tipped somewhere? Simon Thompson in Investors Chronicle??

And a seller just below 60p.

[gopher] 15/2/2023 17:47

Perhaps add to my earlier post on purchase:If you win contracts then there are project set up costs which the firm shoulders until stage payments arrive, I don't know enough about contracts in this industry but suspect the real jam comes from the payments per chip used in the final product. The alternative approach is to body shop your people into the contractor - good for cash flow short term but not profits long term.Hence I guess there is nothing to be overly concerned about the use of cash but it would be good for the company to confirm this.

[cottoner] 15/2/2023 13:45

removed - duplicate info!

[gopher] 15/2/2023 13:12

Good spot 74tom nevertheless I have made a small purchase at 56 just above the IPO price. They definitely needed the money to develop the business as float was at 2022 market low. A change from most IPOs where the accounts are clean and directors have trousered millions at what in retrospect is a high in their market cycle. No suggestion PE involved here either.They do look a little cheaper than Ensilica, a share that languished at float price until a Midas tip when they motored to eventually double on no substantive news.

[muzerewa] 15/2/2023 10:44

Well market seems to agree with you 74tom

I suppose a large part of the >£10m "swallowed" is the £7 million working capital, which should include WIP on the ASIC engagement for the Tier 1 OEM Automotive customer. They did mention they'd collected a stage payment from the customer in January, but not mentioned how much.

Anyway they were obviously pretty strapped for cash before the IPO which perhaps explains why they were ready to proceed even at the discounted valuation.

[masurenguy] 15/2/2023 10:38

I'd concur with that. Do you know when y/e results are due to be announced

[74tom] 15/2/2023 10:21

"the Company had unaudited cash balances of £4.5 million as at 31 December 2022 prior to receipt of the stage payment in respect of the Q4 2022 automotive project milestone in January 2023."

Given they were admitted to AIM in October and raised gross £20m / net £17.5m, to have just £4.5m left 2 months later is very surprising indeed.

Cash at 30/06/2022 was £654k

Here's an extract from the admission doc on use of IPO proceeds;

"Expected use of net proceeds from the issue of Placing Shares

Research & Development £3.5 million
Growth capex £2.5 million
Operational/Sales expansion £2.0 million
Working capital £7.0 million
Debt repayment* £2.5 million –––;––̵1;––R11;––211;––
Total £17.5 million –––;––̵1;––R11;––211;–– –––;––̵1;––R11;––211;––"

Deducting the £2.5m debt repayment from the £17.5m IPO proceeds leaves £15m, so they swallowed >£10m in 2 months?! Ouch.

I think this is uninvestable without seeing a full set of accounts.

[thomas11] 15/2/2023 10:18

Perfect timing as usual !!

[thomas11] 13/2/2023 09:40

hxxps://youtu.be/O6dngwDZqNY

A Paul Hill interview, SND mentioned from 22:20,

Interesting comments from Crux Asset Mgt who have a shareholding in SND.

“Broker value of SND before IPO was £80m, IPO process resulted in £30m valuation”


Decided to dip my toe in here after some research, early days.

[mr euro] 23/1/2023 08:05

Have a sizeable amount now.

[masurenguy] 28/11/2022 07:42

Interesting - onto my watchlist.

21 October 2022
Sondrel (Holdings) plc

First Day of Dealings on AIM

Sondrel (Holdings) plc, the fabless semiconductor business providing turnkey services in the design and delivery of 'application specific integrated circuits' ("ASICs") and 'system on chips' ("SoCs") for leading global technology brands, is delighted to announce the admission of its entire issued ordinary share capital to trading on AIM. Gross proceeds of £20m have successfully been raised by way of a placing with institutional investors of 36,363,636 new Ordinary Shares (the "Placing ") at a price of 55p.

Key Highlights:

-- The Placing received strong support from institutional investors and raised gross proceeds of £20m.

-- The market capitalisation of the Company will be approximately £48.1m on Admission. The Company has 87,461,772 Ordinary Shares in issue and a free float of approximately 41.1£

-- Sondrel has grown over a period of 20 years and its previous designs have been included in well-known products such as Apple iPhone, Sony PlayStation, Meta's Oculus Quest virtual reality headset, Samsung, Google and Sony smartphones, JVC prosumer camcorders and Tesla and Mercedes-Benz cars.

-- The net proceeds of the Placing will enable the Company to:
o increase the number of engineers it employs;
o invest further in developing its Architecting the Future IP platforms;
o accelerate sales in the USA and in other geographies; and
o strengthen the Group's balance sheet in, inter alia, the delivery of project-based designs and customer supply management contracts.

-- As at 31 July 2022, the Group's pipeline of revenue opportunities stood at more than £300m.

-- The Directors have ambitions to grow revenues to over £100m in the medium term.

Since the y/e 31 December 2021, the Group has traded strongly in receiving new customer orders with an aggregate value of £19.4m in the 6 months ended 30 June 2022 and in securing and commencing work on a material turnkey design and supply engagement in Q2 2022 for a multi-billion dollar European customer. Unaudited Group revenues generated in the 6 month ended 30 June 2022 of £8.0m were significantly ahead of the prior period, with full year revenues generated in the ended 31 December 2021 of £8.2m. Given the positive momentum following the Group's transition in business model and the Directors' positive assessment of the strength of the Group's growth strategy, the Directors have confidence in the Group's prospects for current and upcoming financial years.

[mr euro] 03/11/2022 10:39

I only have a few of these (£10k) and did a bit of a deep dive with a view to buying a lot more.

I'm not completely convinced yet. Some holes in the story; what have they been doing for the last 20 years, why go into Sales mode (at times) during the investor presentation, spoken to an employee of many years and the leadership dont tick the boxes, the new head of Sales in the US is unlikely to have much impact (based on my read).

In time the pieces may fall into place and if the head of Sales hangs (or not fired) around for long enough, be may do something.

My initial reaction was they wont be indepenent for too long but now I'm not so sure.

Lets see.

[giardap] 25/10/2022 21:18

Any reasons, data to back your optimism Glavey?