Trakm8 Share Discussion Threads

[knowbodyyouno] 22/9/2022 09:40

"MIcrolise, thrown more cash at this business ??"

They have yes: £1m of CLN.
Details a couple of RNS ago.

[harrison15] 22/9/2022 08:52

MIcrolise, thrown more cash at this business ??

[knowbodyyouno] 21/9/2022 16:53

*I’ve been here many years and seen all cycles of job roles to the favourites*

So, you’re still there? Why? It’s such an odd set up. Simply amazing how long it’s been paddling away.

My hope of course is that those of us still invested get something back. The last update pointed to shovels of jam tomorrow, so we’ll have to see.

I’m surprised to hear Microlise are so negative after just signing up to more funding. They will have an almost 30% share soon.

Anyway, fingers crossed better days are ahead for the Co and long suffering shareholders.

GLA

[6jacko] 21/9/2022 14:14

Sales staff were high achieving but churn is also still higher than average hence no nett gains, not easy in sales at Trak due to endless customer issues and complaints.

Industry leading sales people gone only home grown sales people remain that are part of the inner circle and moved dept to dept over the years. I’ve been here many years and seen all cycles of job roles to the favourites. Recruitment head now trying to run sales, operations now FD etc etc. just given another role when they fail. The change has to come from the top. Sales and marketing clear out more than 50 people to cut the losses. R&D as we know had been a stabilising and fox it rather than launch new products to compete. Microlise tell me Trak are at least 3 years behind the curve on dev to compete in current market. Insurance only area doing ok.

[knowbodyyouno] 21/9/2022 08:32

*All decent high achieving sales staff went elsewhere to other telematics companies.*

Well, they can't have been that high achieving, given that the Co's sales record is (and has been for years) a disaster.

*Amazes me still how the blame is on sales staff and not sheer incompetence of the Watkins family.*

It clearly is a Watkins problem to an extent, but you've just said that only the dross is left, so perhaps they are being called out here?

*CV show was same old products been reinvented. Nothing new for some considerable time now.*

So the R&D spend must be simply a paddling exercise.

Paddling away, still gaining fat salaries and delivering very little.

[6jacko] 20/9/2022 22:50

Hi Dave2608

Yes got very bored of the none believers so decided what’s the point. All decent high achieving sales staff went elsewhere to other telematics companies. All the dross stayed behind. Another major clear out coming from sales and marketing as per last weeks announcement. Amazes me still how the blame is on sales staff and not sheer incompetence of the Watkins family. CV show was same old products been reinvented. Nothing new for some considerable time now.

[dave2608] 22/6/2022 22:26

Regarding post 5705. We used to have a poster going by the name of 6jacko. After months of posting enlightening material, he informed us that he was an employee (I suspect he thought people were questioning whether his info was bona fide). From memory, I'm sure he reckoned they'd sacked off most, if not all the sales staff. That would explain the new faces.

[andre] 27/5/2022 13:22

Many others didn't pay for stands like that but just walked around talking to the same customers I venture.They should RNS that level of expenditure. It might just be material to the next results.

[emptycup] 27/5/2022 11:52

Trak at CV show this week. They had a huge stand and a lot spent on it by the looks of it. Show felt quiet and competition in telematics/video is clear from those other companies showcasing systems to minimise incidents and offer fleet telematics. None of the old sales faces on the stand (which is probably a good thing). Would be interesting to hear some news.

[pj 1] 19/5/2022 16:56

Is it worth revisiting this POS yet or not?

[squeamish1] 11/5/2022 13:35

What happened to all the permabulls here - blondeamon, trakm8fan, michaelmouse - still keeping the faith? Adding at these levels?

[marcu saurelius] 26/4/2022 07:56

Looks like may warn

[andre] 21/4/2022 16:12

You want to see a real basket case that shouldn’t exist try MDZ. 20 years of P&D. Imho

[dave2608] 21/4/2022 15:27

I've never said once that Trakm8's about to go bust. I think that's it's ultimate destination though.

Some companies bump along for years. Take Tertiary Minerals for example. They've been going for years and as far as I know they've not discovered anything precious whatsoever. They've managed to get a few placings away though.

[knowbodyyouno] 21/4/2022 15:11

Not defending the company, which we know has to date be a disaster for most PIs - although I’ve chased it up and down a few times and made some good money out of the swings. Still down overall though. However, the point I was making is that the reviews are ancient and the contract wins are opaque but Trakm8 is still here years after Dave and others said it had gone bust (or was about to).

I agree SaaS is definitely overvalued, particularly given the situation in China, but it’s easy to ride and up and down and turn a decent profit on fairly small outlays of capital.

Now I remember why this BB is a complete waste of time.

All the best.

[andre] 21/4/2022 14:54

I'll give Trak one thing. They know how not to make a profit.

dave2608 is right. Contract wins mean little without numbers attached. Every company in their market wins contracts all the time. If they don't then they would die by attrition.

TrakM8 don't change. They have been a basket case for years. There is probably a reason they haven't been bought. Structurally deficient imho. The company has been run like a private fiefdom in the public domain and sucked in investors cash time after time.

Raza was smart joining the board to learn the ropes before floating Microlise (SAAS). I can't believe the value they put on that either though. SAAS also still trades at more than I reckon it is worth.

All imho.

[dave2608] 21/4/2022 14:49

Check out the document filed 22nd March 2022 page 8. As you can see, 12 employees. How many insurance policies would a company with 12 employees generate?

[dave2608] 21/4/2022 14:33

I got it wrong. It was 12 employees, the company being Drvn . OK this was December 2020. They may have expanded since. According to their last reported accounts they made a loss oF £3.3 million. It's really hard to see Trakm8's coffers being lined here.

[dave2608] 21/4/2022 14:07

True they have announced contract wins and extensions. But how significant are they? I don't see any figures mentioned.

Adiona Technologies and Ticker Ltd are the two contract wins. I have never ever heard of them. I've heard of Direct Line, Aviva, Churchill, Admiral, Sheila's Wheels etc, etc but this pair?

I visited the Companies House house website and looked up Adiona Technologies. Incorporated on 8th December 2020 and as of yet have not submitted a set of accounts as a plc.




Ticker Ltd? Previously known as Jasper Ltd. Look at their figures.




Drvn and Ingenie are the two extansions. Survey 100 people. Who has heard of them?

Has anyone looked at the income statements of these four companies? I'm just guessing here but I doubt that if you add up the combined revenues for all four companies that it will amount to much.

One of these four, I cant remember which one, I noticed had a headcount of 20 employees. Yes 20 employees!!!

[knowbodyyouno] 21/4/2022 13:47

Companies make all sorts of nonsense claims, Dave. But you're holding up 32 reviews - with the last review Written on: 27/04/2017. Not certain it paints an accurate picture of current customer thinking about the product. It has also been sold and bought by Endsleigh since then.

Perhaps a more interesting point is that the company is still announcing contract wins and extensions, several years after some here suggested it was on the verge of bankruptcy. Now, I thought it might have been bought out by now, so I was wrong as well. Time will tell if there's much left to salvage here...

[dave2608] 21/4/2022 10:56

In a recent RNS Trakm8 announce a contract extension with Ingenie. Trackm8 describe them thus "Ingenie is one of the leading Insurance technology providers using telematic derived data to improve driver risk with innovative driver coaching techniques."

This is what their customers think of them. Leaders or Trakm8 B.S.? You decide.

[deltaham] 04/2/2022 09:05

From the other board:


See Para 26 of Road Pricing:

"The Government must set out a range of options to replace fuel duty and vehicle excise duty. Those options should be revenue neutral and not cause drivers, as a whole, to pay more than they do currently. One of those options should be a road pricing mechanism that uses telematic technology to charge drivers according to distance driven, factoring in vehicle type and congestion. If motoring taxation is linked to road usage, the Committee has not seen a viable alternative to a road pricing system based on telematics."

[knowbodyyouno] 16/11/2021 14:18

House broker has raised its target to 56p:

"The stock currently trades on FY21/22 multiples of 1.0x and 0.8x EV/sales respectively. This is at a steep discount to the peer group average multiple of 3.7x and 3.3x, which suggests further re-rating potential. The NAV, £20m, is 2.5x the current market cap."

hxxps://research.arden-partners.com/portal/portal.html

[knowbodyyouno] 16/11/2021 12:17

Rather muted response from the market. But then, the update - if taken at face value - is a bit of a 'steady ship' update. Rev slightly lower than projected, reduced cash gen and the stand still re connections isn't great, within current market conditions, but then profit is profit. Mcap looks low on current guidance, IMHO.