Trakm8 Share Discussion Threads

[ch1ck] 06/9/2021 11:37

Tiny volume and a 13 percent rise Just watching at the momentWho knows with no news flow

[horndean eagle] 13/7/2021 21:15

Can hardly blame Furber for leaving. Private equity on fire at the moment. Desperate for staff and willing to offer big bucks. If he had stuck around in private equity he would have made out like a bandit in the last few years. I don't see him leaving as a particular negative given the above.

[harrison15] 13/7/2021 15:28

You cannot polish a ....... the problem here is the arrogance of the main man.... up himself with importance and always being right..... he walked away from solid revenue streams believing his new streams would be brilliant...but they were not and it was so much slower to get the sales.....and then he decided to buy a load of awful companies 'owner managed' ...... who all left when they could and at least one started up again...

[knowbodyyouno] 13/7/2021 08:37

*We have to take a view with the limited information we have.*

That he's had an offer (better?) elsewhere, which from his point of view makes sense. That's all we know. What would certainly be a negative sign, in my opinion, would be if he sells his 600,000 shares. Although, this might happen slowly and under the radar to an extent, when he's no longer a director.

*If he is getting a better offer to go elsewhere then how can that be good for Trakm8.*

Well, that depends on the ability of Jon Edwards to do a good job. For all we know, he could be a better FD. Given the position that the company is in and has been throughout JF's tenure, that's not a particularly high bar. I still recall the Sept 2016 presentation....

[trakm8fan] 13/7/2021 08:26

I think it has to be seen as a negative for the CFO to leave. Yes there could be reasons we dont know about. But we have to take a view with the limited information we have. If he is getting a better offer to go elsewhere then how can that be good for Trakm8. I'd suspect some problems with his relationship with Mr Watkin. I'm glad I've sold a lot of my holding here. Rocky roads ahead I think.

[andre] 12/7/2021 16:31

knowbodyyouno- You don’t get to know whose box it is when you take out the insurance. It just arrives in an envelope inside a plastic wrapper not even designed for purpose by the looks of it. It’s the third time I’ve been here with two previous kids. First one was Trak Global (hardwired by an engineer). Second was something else. This one was the worst quality though by a mile.

As for limping on, that’s what Trak have done for many years. It’s a private income stream for directors only imho.

[knowbodyyouno] 12/7/2021 15:37

"Microlise won’t be taking out Trak. They are currently touting themselves around the City and the IPO is imminent. They’ll have all the funds they need to grow without the burden of Trak imho."

I don't see Micro taking out trakm8 either. I do think the end game is close (whatever that maybe) however. The company simply cannot limp on indefinitely - so, it either eventually fails (like a slow puncture) or gets bought, IMO. Perhaps the recurring revenues minus the Watkins, Cowleys and other hanger-on-ers, will be attractive enough for someone else to take a punt.


"Incidentally, just taken insurance out for our son who just passed his test. Black Box insurance was a Trak OBD product. It is so poorly made and packaging was something you would expect from China on a bad day. Instructions were basic at best but luckily it isn’t rocket science. No app to go with it. Only an online portal. The unit has no lights and makes no sound to show that it is properly installed."

Why on earth did you take out an insurance policy for your child using tech from a company you have no regard for? Although, to be fair, a quick scan of google images suggests that most - if not all - these OBD boxes look pretty much the same and have the air of 'budget' about them. That's the point, I would think. Not to mention that nobody cares what the thing looks like since it's hidden from view.

[andre] 12/7/2021 15:15

Microlise won’t be taking out Trak. They are currently touting themselves around the City and the IPO is imminent. They’ll have all the funds they need to grow without the burden of Trak imho.

Incidentally, just taken insurance out for our son who just passed his test. Black Box insurance was a Trak OBD product. It is so poorly made and packaging was something you would expect from China on a bad day. Instructions were basic at best but luckily it isn’t rocket science. No app to go with it. Only an online portal. The unit has no lights and makes no sound to show that it is properly installed.

On a positive note, they must be making them cheaply! The ruse is to catch young people out and then add cost to the cheaper insurance. But I doubt Trak will see any of that either.

This company had such potential back in the day. But it got left behind in every market it is involved in. All imho.

[knowbodyyouno] 12/7/2021 14:21

Horndean Eagle: what are your thoughts re Furber's resignation?

[horndean eagle] 29/6/2021 10:46

Better to look forward. They have taken cost out. Insurance should start to grow materially and fleet recovery should pick up. They have said they expect profitability. Clearly makes sense for microlise to take out TRAK with expensive rated paper. Take out a couple of million of cost no doubt. Surprised shares lower today.

[dave2608] 29/6/2021 08:47

Another bullet point.

"R&D spend down 28%, however still £2.9m invested."

Mr Trackmate, I'm guessing you can't afford it. However, the amount "invested" as you call it is roughly 20% of revenues. How is this business model sustainable? Even with £2.9m million invested, you're no way near the big boys. And how come with all this money invested over the years, you're scratching around for low margin insurance work?

Rant over for the time being.

[dave2608] 29/6/2021 08:20

A bullet point from their outlook.

"Group revenues in current financial year to end of May 26% ahead of last year."

Sounds fantastic eh? Now let's put some context to it.


A bullet point from their November interims.

"Improving revenues later in the period, following significant drop in April and May upon Covid-19 lockdown"

So they are 26% up? Aaaggghhh but that's 26% up on a significant drop. Nice try at spin Mr Trackmate but we have access to the old statements.

[knowbodyyouno] 29/6/2021 07:59

Yes, certainly a very odd thing to include in the 'highlight' bullet points. But given global supply chain issues at the moment (that are well documented and understood) it could have been catastrophic, so at least they've navigated it.

[dave2608] 29/6/2021 07:54

Another one of their bullet points.

"Successfully navigated a large number of supply chain challenges"

WTF?

[dave2608] 29/6/2021 07:40

A quick glance at their finals. One of their bullet points.

"4% increase to over 254,000 connected units in operation (FY-2020: 245,000)"

Sounds slighty good eh? A morsel of good news?

However,

Fleet revenue down 21% £9,529,000 (2021) £12,034,000 (2020)

Insurance and auto down 14.5% £6,441.000 (2021) £7,516,000 (2020)

So brag all you like Mr Trackmate about the uptick in connections; it hasn't translated into revenue. You must have lost a bit of pricing power.

[dave2608] 24/6/2021 21:21

Trellus Healthcare was another one. IPOed at 40p. 28th May, its first day on AIM, it goes to 65p, now 73p. So there's definitely some serious money to be made if you pick the right company.

[dave2608] 24/6/2021 20:16

More money raised from IPOs in the first quarter of 2021 than for 14 years. Is the trend set to continue? It looks like it is. Apparently it started during the second half of 2020.




You'd have done well if you picked up Darktrace. IPOed at £2.50 (admitted to LSE on 6th May), mid price now 515p!

[knowbodyyouno] 21/6/2021 08:02

"Microlise, which is behind telematics technology used by haulage companies to manage their fleets, is working with stockbroker N+1 Singer on a flotation scheduled for next month that is expected to value the business at about £180 million".

[knowbodyyouno] 21/6/2021 07:48

Times reporting on Microlise IPO intentions.

hxxps://www.thetimes.co.uk/article/london-flotation-market-more-buoyant-than-ever-despite-deliveroo-s-flop-j8rbf255p

[knowbodyyouno] 17/6/2021 07:26

To be fair, the volumes are extremely low - day-to-day.

[horndean eagle] 15/6/2021 10:17

No chance of them reversing into TRAK but they are out their pushing the story on the IPO roadshow.

[knowbodyyouno] 15/6/2021 09:16

Perhaps they'll reverse into Trakm8.

[knowbodyyouno] 15/6/2021 09:15

Thanks for the info.
Is this information freely available, or 'word round the campfire'?

[horndean eagle] 15/6/2021 09:12

Apparently Microlise are coming to market shortly. Could raise the prospect of a takeover offer for TRAK. Especially if they are as expected given a high rating. Underlying business should be picking up nicely now that driving lessons and tests back into full swing.