Tern Share Discussion Threads

[emigna2020] 06/6/2024 13:14

I blame all the buying for the 6% fall.

1p in sight

[wardy333] 06/6/2024 13:06

S/P has nearly halved here in a few weeks from the 4.5p levels it was at, nothing has changed really other than Wyld dropping away and they wonder why people won't invest in AIM anymore.
Not helped by a Bod who only care about themselves and their salaries etc, add in lacklustre P/R, and this happens, people will make their feelings known at the AGM vote...

[andrbea] 06/6/2024 12:03

Reminder:
poster (16 May '24)

Every way we turn we find possible suitors. The big six - DA's Strategic Partners, Microsoft, PTC, Venafi(Thoma Bravo), Argus, CyberArk & Entrust. Who's to say a disruptor like AWS or Google won't gatecrash the party.

The "big announcement" I suspect will be the launch of the Automotive Platform with a couple of other partners (maybe autonomous driving module) with an Automotive client(s). Co-Pilot will be included.

[andrbea] 06/6/2024 11:49

I'm still hanging around for the (hinted) 'big announcement' from Microsoft (see last DA summit). If DA picks up the grand prize of securing automotive (for the Azure-clients, like BMW) for the design life cycle of 10-15 years, then all these moaning-about-the-Tern-board posts (although justified) will no longer be center-stage.
Same goes for a Wyld firework (be it tracking sensors on Brazilian cattle at scale or SpaceX) or one from FvR (VR headset firms like Meta, Apple, Philips, ..)

[still waiting] 06/6/2024 11:43

Not even one buy from the weasel that is IR who stated 7-8p was way undervalued.

[flashheart] 06/6/2024 11:37

The BoD have been very astute in identifying and picking up the assets that they did. Unfortunately that is where their talents end as they have been completely clueless from thereon in. It has needed and still needs an individual or individuals to manage progress and promote the businesses to the mainstream market.

[moneymaker6] 06/6/2024 11:19

Camb, true value won’t be established until
exit values are determined .. until then it’s a completely false manipulated market valuation ..

[bones698] 06/6/2024 10:54

Falling like the preverbial brick here as predicted. Wyld is looking like a total busy now and with more funding terns value will decrease to such an amount it won't be worth much at all. meanwhile DA isn't doing anything of note.
With that in mind and the Bod collecting wages the cash will run out long before there is any value from. Their poor portfolio. Sub 2p.amd lower coming

[andrbea] 06/6/2024 10:52

'huge potential'. Nice to read.
It's been a 9-year wait.
Somebody will want one of these 4 investees, some day....
The wait goes on.

[cambradjones] 06/6/2024 10:51

Or even"How does that work"?

[cambradjones] 06/6/2024 10:38

The problem with tern is the mm,s drop it very quickly on tiny volume, look at today's trades totalling £12k and down 6% ???As I often say, how dies that with ???

[haydock] 06/6/2024 10:28

Evans concludes, “We remain optimistic about Tern’s outlook. The efforts to date have propelled key portfolio companies to become technology leaders. As these businesses work with investment partners to achieve additional recognition and scale, we see huge potential in the next phase of growth.”

Written by: Anthony Fox

Interesting.

[tullynessle] 06/6/2024 10:02

Mostly published in Progressive Research's publications dated April 2, 2024 and May 30, 2024.

However a useful reminder....





Directors Talk / June 5, 2024

Tern Positive Traction and Growth Highlights Progressive Research’s Gareth Evans



Company Overview

Tern PLC (LON:TERN), operates a hybrid venture capital model that focuses on disruptive Internet of Things (IoT) start-ups with proven technologies. As of 31 December 2023, the company’s market capitalisation stood at £12.1 million, with a net cash position of £0.3 million and an enterprise value of £11.8 million. The company is led by Chairman Ian Ritchie, CEO Albert E. Sisto, and CFO Colin Nunn.


Key Performance Metrics and Financial Health

Tern’s financial year 2023 (FY23) results demonstrate significant improvements in key performance indicators (KPIs), although the company has faced valuation challenges in a globally depressed technology sector. Despite these headwinds, Tern’s portfolio companies have shown substantial commercial traction and growth in annual recurring revenue (ARR).

* Annual Recurring Revenue Growth: ARR increased by 50% in FY23, with a concurrent 51% rise in ARR per employee.

* Portfolio Valuations: However, the overall valuation of Tern’s investments declined by £11.1 million due to various factors, including investment disposals, foreign exchange impacts, and negative movements in fair value of investments.

The financial summary indicates:

* A total comprehensive loss of £12.6 million for FY23, primarily due to net negative fair value movements.
* Net assets fell to £12.5 million, a 50% decline from the previous year.
* Year-end cash balance stood at £298,000, down from £932,000 in FY22.
* Operational Highlights and Portfolio Performance

Tern’s portfolio companies have made significant strides, each carving out leadership positions in their respective markets:

* Device Authority: Valued at £4.4 million (down from £11.9 million), Device Authority has expanded its ARR significantly and aims to triple it in the coming year, driven by strategic partnerships with major players like Microsoft and Entrust.

* Wyld Networks: Valued at £2.4 million (down from £6.0 million), Wyld Networks has launched Wyld Fusion, a hybrid terrestrial and satellite platform, and begun shipping Wyld Terminals. Its total addressable market is estimated at $4.3 billion.

* FundamentalVR: Maintaining a valuation of £3.6 million, FundamentalVR has seen continued ARR growth and strong client retention, with notable partnerships in the medical field and visibility in Meta’s global campaigns.

* Talking Medicines: Increased in value to £2.0 million from £1.8 million, Talking Medicines leverages AI to source patient feedback and has successfully expanded into the US market with a growing SaaS subscription base.

* Konektio: Written off with no current valuation, reflecting its entry into administration.

* Diffusiondata: A minor investment, valued at £0.02 million.

* SVVUK: Valued at £0.3 million, up from £0.1 million.

You might also enjoy reading Tern raises £420,000 through Placing, to invest in portfolio companies

Expert Analysis by Progressive Equity Research

According to Gareth Evans, an analyst at Progressive Equity Research, Tern’s FY23 results highlight a notable improvement in performance metrics, which is expected to attract additional strategic interest across the portfolio. Evans notes that despite the significant improvement in performance metrics, the valuation decline is reflective of broader market trends in the technology sector. He emphasises that Tern’s funding-to-exit model requires patience, with all portfolio companies now firmly into their growth stage and leaders in their targeted markets.

Evans comments, “Tern’s strategy of focusing on high-growth sectors and supporting entrepreneurs with essential capital is showing results, despite the challenging economic environment. The company’s emphasis on expanding sales operations and securing strategic partnerships is key to its future success.”

Strategic Outlook and Future Prospects

Tern’s management remains committed to pursuing high-growth opportunities by supporting entrepreneurs with necessary capital while driving value creation through strategic exits. The challenging economic environment necessitates a focus on sustainability and reducing burn rates, rather than aggressive market dominance.

The company’s strategy emphasises:

* Expanding sales operations to enhance market presence.
* Participating in fundraises where possible to avoid dilution.
* Negotiating favourable terms with new investors to facilitate successful exits.

Despite the valuation challenges, Tern’s portfolio companies are positioned for substantial growth, with significant momentum as they enter the next phase of their development.

Final Thoughts

Tern PLC continues to navigate a complex and evolving technology landscape, leveraging its hybrid venture capital model to support and grow disruptive IoT start-ups. The company’s focus on improving KPIs and strategic partnerships positions it well for future growth, although the near-term outlook remains tempered by broader market valuation trends. As Tern’s portfolio companies mature and achieve further commercial traction, the potential for value creation remains substantial, offering diversified exposure to innovative IoT-related assets for shareholders.

Evans concludes, “We remain optimistic about Tern’s outlook. The efforts to date have propelled key portfolio companies to become technology leaders. As these businesses work with investment partners to achieve additional recognition and scale, we see huge potential in the next phase of growth.”

Written by: Anthony Fox

[jonc] 06/6/2024 09:14

Lethargy can be overcome.Rigor Mortis is fatal.

[emigna2020] 06/6/2024 09:05

`2p or below 2p, that is the question`

[mudbath] 06/6/2024 09:03

What a pity that National Day in Sweden has interrupted the daily rises seen in the Wyld share price since it hit that all time low of 0.81 a few days ago.
I am very much looking forward to monitoring its future upward progress.

In the meantime, we TERN holders must endure the dog days of our BoD slumber party, heralding "heat, drought, sudden thunderstorms, lethargy, fever, mad dogs, and bad luck".

Can't wait !

[jack iadd] 06/6/2024 08:36

NICCCCCCCEEEEEE

[jack iadd] 06/6/2024 08:36

Is this worthless POS RED????

[jonc] 06/6/2024 08:34

Crashing now.

[emigna2020] 06/6/2024 07:09

hard that one eh?

[emigna2020] 06/6/2024 06:33

TM bod are happy to remain handsomely paid via the mug Tern LTH `ers ad infinitum.

Quiz


"How much is 23.8% of Fanny Adams??!"

[jonc] 06/6/2024 06:13

With annual revenues of less than £25k no there will not be an IPO of TM.Even the hurdy gurdy moose exchange won't touch it!Nice.