Tern Share Discussion Threads

[sweepie2] 28/1/2020 08:16

Wonder what John and associates think of it as their thinking will be key if any of the directors are moved on

[maarleck] 28/1/2020 08:16

It was good to see Sisto being upbeat for a change. A slight delay in orders but no big deal. This is the quote I liked most .....

“Tern now has a genuinely diversified portfolio of investments in high growth
companies, with each of its principal portfolio companies having a
disruptive technology in a global market and they are all at very exciting
stages of their respective developments.”

I loved the ‘disruptive217; bit.

Happy to keep holding and accumulating.

[dave444] 28/1/2020 08:14

I bet Travelex wish they had better security

[jprich] 28/1/2020 08:14

From Progress Equity Research


Progress on multiple fronts
Tern’s portfolio update for the year to December 2019 confirms the group’s
strong progress in a number of different ways, across the entire investee
portfolio. Growth in the portfolio companies’ combined revenues was some
27% year-on-year, held back by some delayed orders which are now
expected early this year. The group remains well positioned to capitalise on
its competitive advantages, and there appears to be a steady flow of
positive validation – we look forward to more during 2020.

▪ Key points Today’s update provides a summary of investee company
developments during 2019, augmented by two specific new pieces of
information. Overall revenue of the portfolio grew some 27% - we had
been expecting a higher number, but as the group describes, some
commercial orders were delayed from late 2019, which impacted overall
revenue growth.

We note that employee growth has accelerated rapidly during H2, and
presumably post the FundamentalVR (FVR) raise, with employee numbers
now up 31% y/y, compared to an increase of just 9% y/y at the end of H1
2019.

▪ Investee specifics We go into slightly more detail overleaf, but the RNS
describes a number of developments in the portfolio, highlighting in
particular the material (£4.3m) fundraise for FVR, and what appears to be
a transformational sales order for InVMA (£0.8m revenues, announced in
January 2020)…this latter item was clearly too late to include in the sales
growth figures quoted above, and would have materially boosted the
growth rate across the portfolio.

▪ Progress overview Tern has seen multiple different types of progress over
the past year – a major “up-round̶1; for FVR, a material contract win at
InVMA and improvement of revenue quality within Wyld Networks.
Overall, today’s RNS is a useful snapshot of performance and progress; Tern’s
investee companies remain very well exposed to high-growth end markets,
which are themselves attracting genuine cash spend and providing real-world
products and services in increasing number, and on multiple fronts. We
continue to see the group as well-positioned to invest intelligently in UK and
European assets, and leverage these positions with access to USA
opportunities both in end markets and investor capital. We await further
information at the time of the full year results likely due in March 2020.

[vitec] 28/1/2020 08:12

I have always had the belief that most human beings do not want to spend money on such things as security until they really have too or bad experience forces or makes them.

We go from a position of we must do it do lethagy based on the fact that the threat we face seems terrible but over time diminishes, so we do not act. Cyber security I think is one of those cases where companies know they have to do it but as they have not had to deal with any serious threats delay purchasing the security they need. I think there will be a steady uptake as companies and wealthy individuals see that they need to make it a priority as opposed to something they wil get around to in the future. Major crime is moving on line and that is where they money is to be made both for the criminal and those that seek to keep safe.

[sweepie2] 28/1/2020 08:10

SW same thinking, seems they were deliberately vague, could have dressed it up a hell of alot more, just wonder what will be the valuation for a key and integral part of the IOT security.

[m5] 28/1/2020 08:10

Likya12328 Jan '20 - 07:44 - 184640 of 184658

One of these days Likya you WILL call it right, I promise, LOL!!!

I think the fat lad will be putting pen to paper. He will not need much encouragement based on that update.

[jprich] 28/1/2020 08:10

HG I have been saying Darron needs a kick up the backside.

If Keyscaler is the only solution the world has how can it not achieve 50 growth in an exploding market. The problem are some of the super rampers here. Always ramping no matter what!

[podium] 28/1/2020 08:09

As ever, sluggish progress with the investments TERN already have, and as they talk up their own influence perhaps it's time for a shake up of personnel as they have under achieved.

[dave444] 28/1/2020 08:09

Revaluations!!!!!That is the takeaway message for me!

[kiwimonk] 28/1/2020 08:08

If you want to know what I think one of those orders is.....that will be coming through this quarter....Think OTA connected cars.?

[still waiting] 28/1/2020 08:08

Little comment on DA, I expect this to be sold, too much capital tied up in it now relative to opportunities that must be available.

[kiwimonk] 28/1/2020 08:06

Nav will be increased!Read between the linesKm

[highly geared] 28/1/2020 08:05

Come back in 2 years... turgid progress in DA despite the words of great promise from BL in 2018.

[vitec] 28/1/2020 08:04

The market has been overwhelmed by that update!!

[cmackay] 28/1/2020 08:02

Disappointing

[sweepie2] 28/1/2020 07:54

Any hint of any placing in today's announcement, couldn't see one myself

[sweepie2] 28/1/2020 07:53

Red start but will expect buyers to move in later, its not potential but reality

[sweepie2] 28/1/2020 07:51

In January 2020, InVMA announced that it had secured an initial order commitment worth £817,000 over a two-year period to provide its AssetMinder solution to a global, multi-billion Euro revenue supplier to the industrial and construction sectors. This order commitment was achieved with close support and mentoring from Tern

This certainly is saying we are worth our pay rises

[jonc] 28/1/2020 07:49

Nothing dave.

[warrenfingerfood] 28/1/2020 07:49

Well it had more energy and words than we usually get which is good but nothing really about DA. I wonder if they were biging up Terns roll in FVR and InVma to justify their pay rise. Overall not good enough.