Singulus Technologies AG (SNG GR) - Strong order intake in Q1 should fuel FY24e growth

After a challenging FY23, order intake in the first quarter of FY24e came in at c. € 28m (€ 43m in total FY23). Hence, FY24e looks more promising with operating breakeven in reach.

Singulus Technologies (SNG GR) - Positive outlook after a challenging 2023

Singulus looks back at a difficult FY23 due to project postponements and cyclical weakness. With larger orders for CdTe projects being likely, FY24e looks more promising.

Singulus Technologies (SNG GR) - Discouraging Q3 results due to project postponements; chg.

Singulus reported disappointing Q3 results below expectations. Sales decreased 39.5% yoy down to € 14.1m (eNuW: € 22.0m) and EBIT came in at € -4.9m (eNuW: € -0.4m).

Singulus Technologies (SNG GR) - Unqualified audit for FY’22, balance sheet still a concern, chg.

Singulus Technologies recently published its FY´22 accounts. The delay resulted from the late audit completion for the fiscal years 2020 and 2021, due to going concern uncertainties.

Concurrent Technologies - FY23 results – strategy delivering

Concurrent Technologies delivered a record £31.7m revenue and a substantial increase in profitability in FY23. Management has successfully navigated through the challenging period of worldwide component supply problems that characterised FY22 and delivered a strong recovery in FY23. The business has been completely transformed since the new management team started in 2021 and the focused strategy is delivering. With revenue from the increased number of design-in wins secured in FY23 starting to

1Spatial - Investing in the transformational SaaS opportunity

1Spatial’s FY24 results reflected robust momentum for the enterprise business and continued improvement in the revenue mix, with investment in growth suppressing margin and cash generation. This investment phase will continue in FY25 to lay the foundation for transformational growth from 1Streetworks and in the US in the coming years. Our scenario analysis indicates the upside from successful execution is significant, with further wins for 1Streetworks and in the US being the key catalysts for m

Crimson Tide - FY23 reports +15% revenue; investment phase complete

Crimson Tide has reported FY23 results to December in line with expectations, with additional operating leverage benefitting updated FY24 and maiden FY25 and FY26 forecasts. FY23 delivered +15% revenue growth to £6.2m at 86% GM, of which over 90% is recurring, and maintained £5.8m ARR even after unexpected customer churn in the year as we previously noted. Crucially, the Group achieved milestone adj EBITDA profitability of £0.4m at 7% EBITDA margin, and edges closer to adj PBT profitability expe

Touchstar - Full year results: Recurring revenue strategy delivers further profit growth

Touchstar is a supplier of mobile data computing solutions and managed services to a variety of industrial sectors. This morning's full year results reflect the outcome of a multi-year strategy coming to fruition for the group, with recurring revenue growth of 8.7% delivering overall revenue growth of 7.1% and in turn a 60% increase in PBT to £0.7m. Over the past few years, Touchstar has focused on enhancing the returns from their product offering through a shift towards recurring software licen

Altitude Group (ALT LN) - Trading update confirms rapid growth in FY24 - Correction

Altitude has released a trading update for the year to 31 March 2024 confirming Management expects FY24 results to at least meet market expectations. Our unchanged forecasts show annual revenue growth of 38.9% in FY24 as the Group’s Merchanting division expanded significantly, driven by increased numbers of sales Affiliates and by the US Gear Shops. This translates to adjusted PBT growth of 29.4% to £1.2m on our FY24 estimates. In line results also means that over the last two years both revenue

Hybridan Small Cap Feast - 17 April 24

17th April 2024 * A corporate client of Hybridan LLP ** Arranged by type of listing and date of announcement *** Alphabetically arranged **** Potential means Intention to Float (ITF) has been announced Dish of the day Admissions: Delistings: What’s baking in the oven? ** Potential**** Initial Public Offerings: Reverse Takeovers: 16 April 2024: Electric Guitar (ELEG.L) Concurrent with its Admission to trading on AIM, Electric Guitar is proposing to acquire the entire issued share capital of 3radi

Morning Note – 1 May 2024

Hardman & Co Healthcare Index: 2023 – Capital demands dent performance

The Hardman & Co Healthcare Index (HHI) has been running since 2009. Its main function is to highlight the attractions of life sciences investments over the long term. For the second year running, apart from global economic influences affecting world markets, performance in 2023 was dented by the capital-intensive nature of the sector. The HHI fell 3.7%, to 483.8, underperforming the main London markets – FTSE 100 (+3.8%) and FTSE All-Share (3.8%) but outperforming the FTSE AIM All-Share Index (

Cenkos: Concurrent Technologies Plc -- H1/22 update – supply problems frustrate

Concurrent Technologies' interim results confirm the worldwide shortage of semiconductor components has placed significant headwinds in front of the business, inevitably slowing manufacturing output and order shipments to customers. None of these delays have led to any loss of underlying business, however, we anticipate a significant period of growth to follow the normalisation of component supply chains, fulfilling both delayed backlog and a rapidly growing order intake. Investment in R&D doubl

IQGeo Group - FY23 ahead, FY24E & FY25E conservatively reiterated

IQGeo’s FY23 results show remarkable organic revenue growth of +64% to £44.5m, FY23 adj EBITDA +2% ahead of our +5% upgrade at the January trading update, and a confident outlook that leads us to conservatively reiterate our FY24E and FY25E forecasts. Excellent execution of the land and expand strategy has scaled organic exit ARR +50% yoy to £21.3m, with record order intake +40% yoy to £57.2m, and net recurring revenue retention increasing to 133% from 108% in FY22. After upgrading by +6% in Jan

LIBERUM: 1Spatial: Walk the talk and get SaaSy

Auto Trader (AUTO LN) - Strong growth from core business

Auto Trader’s FY23 results last week showed continued strong performance from its core marketplace business despite constrained supply in new and used vehicles.

Arcontech - Encouraging 1H24 builds platform for robust growth

Arcontech has reported encouraging H1 24 results to December, with revenue £1.45m, adj EBIT £0.4m and net cash £5.7m, in line with our conservatively unchanged £2.8m FY24 revenue estimate. Revenue growth (+7% yoy) reflects the multi-year contract won in October and the strengthening relationships with core Tier-1 customers, with signs of improvements in challenging market conditions. Our prudent forecasts reflect the impact of unexpected growth in floating user terminal numbers in H1, with plent

Morning Note – 26 March 2024

Intelligent Ultrasound Group - GE Healthcare launches new Voluson Signature with

GE Healthcare has announced the launch of the Voluson Signature 20 and 18 ultrasound systems, with the related press release noting these systems ‘comprehensively integrate artificial intelligence’ to improve the ultrasound procedure for clinicians and the women being scanned. These ultrasound systems include SonoLyst, the AI which incorporates Intelligent Ultrasound’s ScanNav Assist and ScanNav AutoCapture AI software. The launch of additional Voluson systems including the SonoLyst suite of AI