Vr Education Share Discussion Threads

[avsome1968] 14/9/2021 07:09

nterim Results

VR Education (AIM: VRE; Euronext Growth: 6VR), a leading virtual reality ('VR') technology company, today announces its unaudited interim results for the six months ended 30 June 2021.

Highlights

-- Accelerated demand for ENGAGE platform with now over 130 commercial customers
-- Revenue increased by 83% to EUR1.25 million (H1 2020: EUR681,000)
-- Expansion of ENGAGE to the Middle East for the first time through two commercial agreements in the United Arab Emirates: one for a global event for 12 international police forces and one for a commercial license with custom development work

-- Strategic partner HTC Corporation ('HTC') has commenced selling its ENGAGE product, VIVE Sessions, in China, as part of a software bundle with HTC's new headset, the VIVE Focus 3, and with new HP ProBook laptops being sold in the region as announced on 12 May 2021

-- ENGAGE revenue accelerated to EUR0.9 million (H1 2020: EUR0.2 million). ENGAGE revenue comprised 72% of total Group revenue for the period, up from 33% during the same period in 2020

-- Planned continued investment in capabilities widens pre-tax loss to EUR1.3m (H1 2020: pre-tax loss of EUR1.1 million), although EBITDA loss flat at EUR1.0m (H1 2020: loss of EUR0.9m)

-- Oversubscribed placing announced on 18 June 2021 raising EUR9.0m (GBP7.7m) before expenses at a price of 16 pence per share

-- Net cash as at 30 June 2021 of EUR9.2 million
-- In June 2021, VRE announced the planned development of a new fully featured corporate metaverse codenamed "ENGAGE Oasis" with the launch expected in the first half of 2022

David Whelan, CEO of VR Education, said: "The first six months has seen the continued growth of ENGAGE, building on the trends of 2020, as more and more companies and organisations around the world see VR a better way of communicating. The pandemic has had a major impact on the use of ENGAGE which is set to continue as the technology becomes more accessible, and the drive to live more sustainably, and reduce travel, picks up pace. We have seen major developments in the first six months, including the roll-out of our software in China through our partnership with HTC, passing the milestone of 100 commercial customers, and VRE entering new markets, including the Middle East. The development of our new corporate metaverse codenamed ENGAGE Oasis is set to build our product offer further and create even more demand. Our outlook is more exciting than ever as VR comes of age as a business communications tool."

[hastings] 14/9/2021 06:56

Agreed, cash looks comfortable when balancing up the burn and revenue growth rates. Next few years could see a significant shift in terms of further de-risking. Exciting times and opportunity here.

[drdre] 14/9/2021 06:51

Yes, very encouraging, no surprises and at the current rate of cash burn, considering cash of 9m, I dont anticipate any more fund raisings in the short to medium term. That is always the concern with companies at the early stage of their growth.

[hastings] 14/9/2021 06:49

Happy with the Interim results and accompanying tone. ENGAGE momentum building and plenty of opportunities to seriously scale up in the next few years.

[avsome1968] 11/8/2021 09:54

Certainly doesn't take much buying to move this north added a few more this week, surprised you sold out Hazl can see this pushing past 25p range before the year is out.

[hazl] 10/8/2021 11:11

Yes and if anyone thinks that these are static,they can think again.
People were paying 15.50 then 15.80 now 15.85 in my opinion.
I think this is a company destined for great things.

[avsome1968] 06/8/2021 10:30

Some reasonable buys this morning but all showing as sells.

[hastings] 28/7/2021 09:38

Happy enough with the update with Engage revenue growing from the corresponding period of €220k to €900k. Given the acceleration increasing customers and the HTC collaboration now in play revenues should really build a head of steam.Broker Davy reiterates VRE's targeting of hitting €10m revenues by 2023/2025. Importantly, they now have plenty of cash to expand the offering and enough in hand to see them through to an inflexion point.Still obviously speculative, but as revenue demonstrates a building momentum and more blue chip customers are signed up, then the shares should become increasingly attractive.

[masurenguy] 28/7/2021 07:07

Pre-Close Trading Update

The Board is pleased to announce that VRE continues to trade in line with market expectations. During the six months to 30 June 2021, the Group has been contracted by new and existing clients for significant events to be held inside its proprietary software platform ENGAGE.

Recent highlights include:

-- ENGAGE revenue continuing to accelerate, with unaudited H1 2021 revenue expected to be c.EUR1.25 million, an increase of 84% on the prior year (H1 2020: EUR0.68 million).

-- ENGAGE revenue comprises 72% of H1 2021 total revenue, an increase of 39% on the prior year (H1 2020: 33%).

-- Unaudited gross margin 80% in H1 2021, an increase of 10% on the prior year (H1 2020: 70%).

-- ENGAGE reached the milestone of 100 commercial customers as announced in May 2021, including Abbott Laboratories, KPMG, MongoDB, and the US State Department as recent additions.

-- Expansion of ENGAGE to the Middle East for the first time through two commercial agreements in the United Arab Emirates: one for a global event for 12 international police forces and one for a commercial license with custom development work.

-- BMW i Motorsport event on 1 July 2021 was hosted on the ENGAGE platform. The event was the world's first fully immersive Formula E experience, showcasing the technology, engineering and drivers of Formula E.

-- A major US multinational client (with a market cap of more than US$100 billion) has signed a six-figure deal for an event to showcase its product innovation, history and sustainability initiatives.

-- Strategic partner HTC Corporation ('HTC') has commenced selling its ENGAGE product, VIVE Sessions, in China, as part of a software bundle with HTC's new headset, the VIVE Focus 3, and with new HP ProBook laptops being sold in the region as announced on 12 May 2021.

-- In June 2021, VRE announced the planned development of a new fully featured corporate metaverse called "ENGAGE Oasis" with the launch expected in the first half of 2022

-- Oversubscribed placing announced on 18 June 2021 raising EUR9.0m (£7.7m) before expenses at a price of £0.16p per share. Net cash position of EUR9.2m as at 30 June 2021.

[hazl] 22/7/2021 20:41

'The company has previously earned praise for its use of VR to combat the potential risks of heading in football, by recreating heading in a virtual setting. Using the headset, players are able to practice heading without the repeated impacts of the ball to the head, particularly useful for young footballers who are more at risk due to weaker neck muscles and a larger head-to-neck ratio.'

[hazl] 22/7/2021 19:48

Thought this was interesting....thanks to aiden.
For any holders.

[hazl] 15/7/2021 17:59

Hi corrientes.
I love VR I love this company but had a funny moment recently and sold out of most things that were in profit.
I can't explain it but I began to abhor shares generally.
The tech looked particularly at risk in the market, as if it was going on a downer and even VRE has started the pattern of lower highs and lower lows.
However, I genuinely believe VRE is one of the better stocks out there.I had an irrational moment if you will.I intended to keep the posts up because I still follow the news but here we are.
Good luck everybody I might well be back.

[corrientes] 15/7/2021 07:53

You're unusually quiet here, hazl. Let's hope this is the quiet before the (good) storm.

[notts99] 06/7/2021 09:32

Why is breakeven crucial this year? This is a rapidly changing and growing industry. To seize opportunities one needs to take risks. Agreed, wasting money is silly but spending to make more down the line isn't.

[1pencil] 02/7/2021 19:45

In general agreement with the blog write up however it doesn't cover the fund raising lead up, although I did note comments relating to news releases:

"although Whelan says that they will only release relevant or meaningful items such as collaborations or progress updates as has been the case to date and not trot out meaningless news that can rightly be viewed with suspicion."

Was this a response to my earlier post on the (almost) weekly TU's pre-fundraise?

In terms of listing costs, these seem excessive and unwarranted especially when you are raising money to expand, I would prefer to see much more frugality at this early stage, reaching breakeven is fundamentally crucial this year.

[gokarna97] 30/6/2021 19:12

Thanks Hastings. Interesting write-up. Glad that monthly revenues are strong, H2 will be busy and that OASIS is 80% finished. Can't wait for the positive news flow to continue. GLA

[hazl] 30/6/2021 17:59

Thanks hastings.

[drdre] 30/6/2021 16:37

Thanks for sharing, very informative

[hastings] 30/6/2021 15:52

For interest Https://martinflitton1.wixsite.com/privatepunter/post/speaking-with-the-vre-ceo-30-06-21

[avsome1968] 29/6/2021 06:53

Lot more to come yet Andre.

[andre] 28/6/2021 16:57

Nice rise again today on no news. Shame all of my shares don't perform like this but this is the least speculative. They just keep getting better.