Hybridan Small Cap Feast - 29 Jun 23

29th June 2023 @HybridanLLP Status of this Note and Disclaimer This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment objecti

Falanx Cyber Security (FCS) – Corporate – FY Trading Update - Good momentum on a reducing cost base

Falanx Cyber Security, a global cyber security provider, has provided a trading update for the year ended 31 March 2023. Group revenue for FY2023E is expected to be around £3.8m (FY2022: c.£3.5m), representing organic growth of 9% YoY. PenTest revenue has exhibited growth of 5%, with SOC monitoring revenues increasing c.21% YoY. Total SOC order values (New Logo, Renewals, Uplifts & extensions) were up by 58% on FY2022A, and with high retention rates.

WH Ireland: Falanx Group (FLX) - Interim Results – good momentum with further strong order intake post period end

Falanx Group, a provider of cyber security services with a particular focus on SME's, has announced its interim results for six months ended 30 September 2022. The results continue to evidence strong positive momentum with order intake in the half year for its core services increasing 17% YoY (mostly MRR) and post period end, the most recent two months seeing order intake increasing 44% YoY. This evidences the success of both the cyber product strategy, robust market demand (against increasing c

WH Ireland: Falanx Group (FLX) - Strategic, operational and financial progress

Without doubt, the financial year to March 2022 has been one of progress, on all fronts, with a business now firmly focussed on the core growth market of cyber security services. The benefit of this focus is coming through in the numbers, with underlying revenues (excluding disposals) increasing 14% to £3.5m (FY2021: £3.12m).

More Netflix originals; Avast hacked; Apple manufacturing in India

Netflix is raising another US$2 billion in debt to fund additional content creation and other expenses, the company announced on Monday. The company routinely raises debt to help fuel its growing library of original TV shows and movies. The streaming giant offered US$2 billion in new debt in April after issuing another round of notes several months earlier. Netflix said it plans to use the proceeds to fund "Content acquisitions, production and development, capital expenditures, investments, work

Cloudflare prices above range; Virtual wall maker new unicorn; High speed 5G gaming

Cloudflare, a California-based digital content delivery and Internet security company, raised its IPO price range this morning from a prior $10 to $12 interval to $12 to $14 per share. At its new prices, Cloudflare would be valued between $3.5 billion and $4.1 billion. Cloudflare's maximum IPO fund raise is now $563.5 million. Investors’ appetite for cloud offerings appears to remain robust. Ex- Oculus founder, Palmer Luckey’s new business, Anduril Industries, is building a virtual wall on the s

Brevan Howard plans crypto fund, Google discovers 2-YR iPhone security flaws

Alan Howard’s push into crypto is a badly kept secret that appears to be crystallising into reality. In our view, the crypto space has undergone a very interesting transition from rampant retail speculation to, well, rampant retail speculation underpinned by a broad base of institutional interest. Google search volumes have fallen, transaction sizes appear to be escalating and the latest wave of equipment upgrades suggest consumer interest and potential to participate is now very low. Meanwhile,

VMware spends $5bn on cloud security, Salesforce provides strong outlook, Amazon acquires Indian supermarket chain

VMware said on Thursday it bought two providers of cloud security and cloud developer services in separate deals valued at about $5 billion, as it expands offerings for corporate clients. VMware bought Pivotal Software Inc in a $2.7 billion deal. Separately, VMware said it would buy software maker Carbon Black Inc for about $2 billion in cash.

Tencent drops after weak guidance, SoftBank makes energy investment, Security software leaks 1m fingerprints

Tencent shares slumped as much as 3.88% on Thursday after the Chinese technology giant missed analyst expectations, despite beating forecast on earnings. Revenue rose 21% year-on-year to 88.82 billion yuan. Profit attributable to shareholders beat analyst forecasts, rising 35% year-on-year to 24.14 billion yuan. The company's gaming division returned to growth, posting revenue of 27.3 billion yuan, up 8% year-on-year, with mobile games performing particularly well.

BA resumes services after IT meltdown, AT&T employees took bribes to install malware, Nike announces AI acquisition

British Airways said its flights were returning to normal after passengers had to endure cancellations, delays and long queues at London airports as the airline suffered its third major computer failure in a little more than two years. More than 60 flights to and from Heathrow and Gatwick were cancelled and more than 100 were delayed, according to the departure boards at the two airports.

Capital One confirms data breach, Qualcomm & Tencent partner for gaming phone, Microsoft acquires software start-up

Capital One announced on Monday that a data breach identified earlier this month exposed personal information of its customers, including social security details and bank account numbers. The Virginia-headquartered bank said in a news release that about 140,000 Social Security numbers of its credit card customers and around 80,000 linked bank account numbers were compromised. In total, Capital One said, "This event affected approximately 100 million individuals in the United States and approxima

Facebook to use Libra to become utility, Slack not worried about Microsoft, Symantec ends talks with Broadcom

The Senate Banking Committee on Monday released the testimony of David Marcus, the head of Facebook's cryptocurrency projects ahead of his testimony Tuesday. In his prepared remarks, Marcus perfectly outlines the business model behind the social network’s upcoming Libra digital currency and its Calibra digital wallet. Microsoft might be the primary competitor for Slack, but the widespread adoption of Microsoft's software is not a major problem for Stewart Butterfield, co-founder and CEO of the m

Australian banks to digitize bank guarantees, US Gov reviewing license requests for Huawei, Broadcom to acquire Symantec

Australia's top three banks said on Thursday they have agreed to partner with IBM and shopping mall owner Scentre Group to test blockchain technology to digitize bank guarantees. The companies are exploring how to move away from paper-based bank guarantees to cut processing time and the risk of fraud, Australia and New Zealand Banking Group, Westpac Banking Corp and Commonwealth Bank of Australia said in a statement. The US government said on Wednesday it was reviewing licence requests from US c

Arden Tech SoundBytes - US officials told to treat Huawei as blacklisted, Cyber-Incident Reports in the UK Spiked by 1,000% In 2018

Small Cap Feast

Kropz, an emerging plant nutrient producer with an advanced stage phosphate mining project in South Africa, a phosphate project in the Republic of Congo and exploration assets in Ghana, is looking to join AIM. Offer TBC, expected late Nov Titon holdings—international manufacturer and supplier of ventilation systems and window and door hardware. No capital raise. Due 10 Dec. Mkt cap c.£22m. Greenfields Petroleum (TSX-V:GNF) production focused company with operated assets in Azerbaijan seeking A

Alphawave Semi: FY23 trading update, amended forward guidance

Alphawave Semi has reduced guidance for FY23 and prospectively citing lower revenues from China, changes in expected revenue recognition from long-term contracts, and continuing investment in R&D. The share price has reacted negatively, giving up most of the gains since the trading statement at the end of January. Current consensus, which is a good match for pre-existing guidance, should be reduced, most likely following release of the FY23 results and full 1Q24 trading update due on 23 April. H

Zeus Top Picks for 2024 - 2023 review and outlook for 2024

On 9 January last year, we set out our ten top stock picks for 2023, for what turned out to be another relatively poor twelve months for UK equities due to two wars, stubbornly high inflation and further tightening of monetary policy. This was even as other major markets, such as the US, largely recovered in the year. In the 2023 calendar year, the AIM All-Share index fell 8.2% and is still 42% off its 2021 high. From the release of our 2023 top picks note, the average total return (assuming div

Synectics + (SNX, House Stock at 185p) - Strong FY23A profit growth to continue

Maintel - Strong FY23 year-end TU continues trend of over-delivery

Maintel has reported a trading update for the year ending December 2023, indicating revenue in of at least £101m and adj EBITDA of “in excess of £9m”, compared with respective forecasts of £98m and £8.6m. Net debt of £18.1m also outperforms our expected year-end net debt of £18.6m. The group is continuing the trend established with the reintroduction of forecasts in April 2023, where growing confidence in delivery led to upgraded forecasts in both August and September, and still achieving outper

Auction Technology Group - H1/24 Trading update

ATG’s H1/24 trading statement indicates revenue for the six-month period to 31 March 2024 was $86m, a 6% increase on H1/23 (1% organic growth), helped by the addition of the EstateSales.Net (ESN) marketplace last year, which performed well in the period. Total marketplace revenue increased 2% (organic), driven by growth in value-added services (VAS) and event fees, offsetting a decline in commission revenue (mainly through lower asset prices).

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