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YPB Group (YPB) combines patented anti-counterfeiting technology with security packaging solutions, consulting and forensic services to help businesses protect their brands from the risks of counterfeiting and product diversion. The company recently completed a A$4.54m share placement and provided guidance to the market for FY17 profit before tax of A$5m. We have incorporated this guidance and the effect of the share placement into our forecasts, resulting in a 24% upgrade to our FY17e PBT to A$
Companies: YPB Group Ltd
Edison
YPB Group (YPB) has completed an institutional placement of 18.75m shares at A$0.24/share raising A$4.5m. The placement was oversubscribed and brought six new institutions to the register. The company plans to use the net proceeds to accelerate conversion of its business opportunity pipeline into recurring revenues, expand into new markets and enhance its solutions suite through R&D investment. The placement follows an announcement by YPB last week that it expected to breakeven by Q117 and deliv
YPB Group (YPB) combines patented anti-counterfeiting technology with security packaging solutions, consulting and forensic services to help businesses protect their brands from the risk of counterfeiting and product diversion. YPB has announced that it expects to reach cash flow break-even by end Q117 and to deliver profit before tax of A$5m for the year ending 31 December 2017. This is the first time the company has given guidance for FY17 and follows a spate of successful contracts for the gr
YPB Group has secured a three-year contract to provide its invisible supply chain authentication solution to a major US casual footwear brand, with its tracer technology set to be incorporated in 70% of the brand’s entire production. The contract, believed to be with Crocs, is the second major transaction secured by YPB in the Americas this quarter. It follows further support for YPB’s product in China with Beijing Sandun Card Technology choosing YPB’s anti-counterfeit technology for security pa
YPB Group has completed the acquisition of privately-held proximity marketing company nTouch for A$4.5m in shares at 35c/share. The acquisition extends its anti-counterfeiting expertise in B2C and positions it as one of the only companies globally to offer end-to-end counterfeit protection solutions. We have incorporated nTouch into our forecasts and included some recent contract wins. This has resulted in both an upgrade to our CY15e and CY16e forecasts and an increase in our DCF valuation to A
Premium
YPB Group (YPB) is in the early stages of commercialising its patented, non-destructible, anti-counterfeiting technology used for brand protection and product authentication. YPB raised A$3.7m at IPO (A$0.20 per share) and a further A$6.3m (A$0.30 per share) by way of placements. The company has three contracts expected to generate total revenue of CN¥318m (A$66m) over four and a half years. Our DCF valuation of A$0.37 per share assumes that the current contracts are rolled over. Further value s
Research Tree provides access to ongoing research coverage, media content and regulatory news on YPB Group Ltd. We currently have 6 research reports from 1 professional analysts.
Journeo has confirmed record results for FY23A, in-line with recent upgraded expectations across the board. FY23A revenue increased significantly by 118% to £46.1m (including 20% organic growth) and Adj PBT increased 270% to £4m, representing a near doubling of the Adj PBT margin. Journeo has positioned itself for a period of sustained growth following the transformational Infotec acquisition, the bolt-on MultiQ acquisition and ongoing R&D in the existing business. Journeo looks compelling on an
Companies: Journeo plc
Cavendish
Craneware is the market leader in value cycle SaaS provision in the US with a 40% market penetration and the ambition to become ubiquitous in US hospitals. The shackles of Covid disruption, digestion of the Sentry acquisition, and the transitioning of its customers to the fully cloud based Trisus platform, have fallen away and opened up new sales opportunities for the group. While the shares have out-performed strongly, multiples look reasonable compared with peers. We calculate a DCF based fair
Companies: Craneware plc
Capital Access Group
In 2023, the company delivered strong 13% organic constant currency revenue growth and Adjusted EBITDA in line with expectations, even after including one-off inventory provisions.
Companies: Big Technologies PLC
Zeus Capital
Companies: CML Microsystems Plc
Shore Capital
Companies: FOG PEB KBT EMR TIME GETB JNEO
The trading update confirms revenues in line with our expectations. Excess inventory flow through and market softness in China have impacted CML’s core business, but Microwave Technologies Inc (MwT) is performing ahead of expectations. The net effect, along with MwT acquisition related costs, is that Reported PBT and EBITDA are to be lower than expectations, but not substantially so. The long-term investment case is founded upon the opportunity in next-generation wireless and, with £18m cash and
Progressive Equity Research
Companies: Nanoco Group PLC
Turner Pope Investments
Companies: PMG DUKE CMCL BOOM
GetBusy’s FY23 results show organic revenue growth of +10% to £21.1m, FY23 adjusted EBITDA +£0.1m ahead of our +£0.3m upgrade at the January trading update, and a promising outlook that leads us to reiterate our FY24E forecasts. At constant currency, ARR grew +10% yoy to £20.5m, recurring revenue grew +12% to £20.3m, and net revenue retention of 100.0% per month reflects upselling and price increases, with gross monthly churn of 0.8% per month vs 0.9% in FY22. Within SmartVault, the July 2023 la
Companies: GetBusy Plc
Nanoco, the world-leading provider of cadmium-free Quantum Dot technology, has reported positive 1H24 results, and stated that FY24 performance is expected to be in-line with market expectations. We reiterate our FY24E forecasts. Operationally, the company has achieved strong progress over the past six months, and the interims statement includes further progress on the company’s next-generation revenue programmes being implemented post period end. We maintain our 60.2p price target.
Broadcast playout automation solutions provider Pebble Beach has reported confident FY23 results to Dec 2023 in line with updated January trading update expectations, and has announced the much-anticipated Project Oceans will launch as PRIMA (Platform for Real-time Integrated Media Applications) in April 2024. This underpins a mid-term 80% recurring revenue ambition and expansion in addressable market. FY23 delivered +11% revenue growth to £12.4m, which benefitted from the unwind of defensive in
Companies: Pebble Beach Systems Group PLC
Companies: FOG TND BVXP ACC HDD
Companies: LPA SOLI NANO QTX
Sondrel has announced it has secured an additional £2m convertible loan note with ROX Equity Partners to fund near-term payroll and working capital needs. The terms are similar to the ones agreed for £0.9m CLN in Feb 2024 with a 15% interest rate, a three-year repayment term, and is expected to convert into ordinary shares at 10 pence each. The proposed fundraise that is open to existing shareholders has now increased from £6.5m to £8.5m (including the proceeds from the CLNs), with a subsequent
Companies: Sondrel (Holdings) Ltd.
Companies: BILN IGP RBN SBTX
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