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Semper Fortis Esports* recently announced its intention to IPO onto the Access Segment of the Aquis Stock Exchange Growth Market. Semper is a multi-operational Esports organisation focusing on gaming technology solutions, brand enhancement and high growth team infrastructures. The company plans to raise £2.5m to develop their three core areas of establishing an esports team, forming partnerships with brands for sponsorship and B2B consultancy services. The Board are highly experienced in spor
Companies: BOKU RBGP MUL WATR GFIN MKA TIDE CRDL INX TUNE
1HMar20 sales flat at £2.3m, MRR also flat at £340k. Net loss £-2.0m (PY: £-1.9m), period-end net debt £0.14m. On MRR - a new customer win and also upsells were offset by customer churn. New sales generation has been slower than planned. In response, INX has reduced staff headcount by 20%, starting in January. Covid has negatively impacted business performance – meaning longer sales cycles and higher DSOs. Encouragingly therefore, cash collection improved post period-end (to £0.3m). Further, two
Companies: i-nexus Global plc
Prelims are consistent with October’s trading statement, revealing sales and adj. profit of £4.8m and £-3.8m respectively – shy of expectations, however encouragingly remedial action has been taken and is now yielding results, for example, customer retention and monetisation have both markedly improved. This leaves us cautiously optimistic for FY20, though we are cognizant that new business and/or costs require careful management considering existing cash resources.
i-nexus has provided an update on Q3 trading and full year expectations. The group has continued to see an increase in its pipeline of opportunities and secured a number of new sales in Q3’19, however the rate of pipeline conversion is currently running behind the level required to meet full year expectations. While this update is clearly disappointing, we believe the group can still deliver good growth in H2’19, albeit not at the levels previously hoped for. We are placing our forecasts under r
i-nexus’ interim results highlight the significant progress which has been made in transforming the operational structure and refocusing the go-to-market strategy. These improvements are starting to deliver the expected benefits, resulting in increased engagement and opportunities with existing clients and reduced contract conversion cycles for new customers. Investment in the sales team has resulted in a much improved pipeline, underpinning our full year expectations. We make no changes to our
Greenfields Petroleum (TSX-V:GNF) production focused company with operated assets in Azerbaijan seeking AIM dual listing including $60m private placement. Mkt cap $12.6m CAD. Expected late January 2019.
Companies: PYC RBD SRES AFX GTC AVAP WAND SSY TRCS INX
i-nexus’s FY’18 results show good revenue growth, in-line with expectations. Group revenue increased 15% to £4.7m, with recurring licence revenue making up 82% of the total. The group has commenced its post IPO investment programme, making 26 new hires across the business. It has also opened its first international office in New York. The benefit of the increased investment is beginning to show, with clear evidence of pipeline growth coming through. We are making no changes to our forecasts post
i-nexus is a leading provider of Strategy Execution software, delivering an enterprise ready, scalable solution to Global 5000 customers. Its SaaS software simplifies the management of vast quantities of operational and strategic data, providing actionable insights and ensuring that all levels of the business are aligned behind the same objectives. Having reached run rate profitability and cash generation in FY’17, the group is now increasing investment to take advantage of the large growth oppo
Futura Medical (FUM LN) First patient enrolled in Phase III trial of MED2002 | i-nexus Global (INX LN) Licence to execute | River and Mercantile Group (RIV LN) AuM +3% in Q1, positive flows in Equity Solutions | SDL (SDL LN) Capital Markets Event: clear strategy for profitable growth
Companies: FUM INX RIV RWS
Renalytix AI—developer of artificial intelligence ("AI") decision support and clinical management tools for improving early diagnosis, continual monitoring and drug development for kidney disease. incorporated in March 2018 as a subsidiary of EKF
Diagnostics Holdings (AIM-EKF). Total fundraising in the range £21 - 25 m. Mkt cap - c. £67.5- £71.0m. Due 2 Nov.
Finncap—proposed acquisition of M&A adviser Cavendish Corporate Finance and AIM admission. Offer TBA
Kropz PLC—an emerging plant nutrien
Companies: EMH CRA GYG ALBA FRR DFX SSTY APF INX EUZ
AIM showed no signs of a summer slowdown with three strong months with regards to total funds raised (new and further issues). June, July and August averaged over £700m per month, boosted by a particularly strong June which delivered 14 IPOs (historically AIM has 5-6 new joiners per month). Through the end of August 2018, the total amount raised (new and further issues) of £4.80bn is +15% on the same period in 2017 which itself was the best year since 2007.
Companies: LOOP YEW BLOE AQX SAE ANX TGP INX CBOX MIND KGH RAI TGL YCA IMMO DEC NUC OVB TWD CNIC
Research Tree provides access to ongoing research coverage, media content and regulatory news on i-nexus Global plc.
We currently have 11 research reports from 3
Companies: Bango plc
JOHN MENZIES+ (MNZS, BUY at 315p) – Note Publication: Evolutionary trends…
MARKS & SPENCER+ (MKS, HOUSE STOCK at 253p) Q3 TS – FY22 guidance firmed up, c5% underlying upgrade
NORTHBRIDGE INDUSTRIAL SERVICES+ (NBI, House Stock at 174p) - Further progress in Tasman disposal
BUNZL^ (BNZL, BUY at 2723p) – Note published: Solid strategic outlook
TESCO^ (TSCO, BUY at 292p) Q3 & Christmas TS – a beat to expectations and so further FY22 upgrades (c5%)
HILTON FOOD G
Companies: IDEA BRK ASC PFG MAB HFG TSCO BNZL NBI MKS MNZS
We believe the narrative for the UK equity market remains very good. Some inflation appears embedded in markets and economic growth seems robust. We saw investors show caution into the end of 2021 and so have cash to deploy in our view. This has been corroborated by investor feedback we’ve had already this year. The UK equity market is materially cheaper than global equities on a relative basis so asset allocators have to be looking at UK equities while UK 2022 GDP growth is likely the best of t
Companies: AFM ANX AXL CYAN GLAN MODE OBI MATD SEN SOM WSG
Monthly Gaming Wrap-up: December Round-Up
Companies: Keywords Studios plc (KWS:LON)Team17 Group PLC (TM17:LON)
Genflow Biosciences, a UK-based biotechnology company focused on longevity and the development of therapies to counteract the effects of aging and diseases associated with advanced age intends to float on the Main Market (Standard). The Company will become the first longevity biotechnology firm to list in Europe. Genflow has raised £3.7m in an oversubscribed placing, conditional upon admission becoming effective. The flotation will value Genflow at approximately £23.4m.
SuperSeed Capital Limited
Companies: RQIH ABDP ACRL HAYD IQG
As expected, the industry-wide supply chain challenges and inflationary pressure have weighed on Asos’ activity. However, the group has maintained its FY 22 guidance despite ongoing market headwinds. Also, Asos has announced its intention to move to the main market of LSE.
The confirmation of FY guidance and move to the main market of LSE shows the management’s strong confidence and enhances the strategic visibility after the departure of the CEO and change of chair.
Companies: ASOS plc
Highlights of FY21 are 28% organic revenue growth at Clareti, group EBITDA 8% ahead of our forecasts and net cash nearly £4m ahead of our expectations on “very strong” cash collections and lower than expected acquisition costs. Our unchanged FY22 forecasts are well underpinned by 88% contracted revenues. We forecast ARR will grow a further 17% organic in FY22, which is one of the fastest growth rates in our universe. We introduce a Buy recommendation and 220p price target.
Companies: Gresham Technologies plc
What’s cooking in the IPO kitchen?
Genflow Biosciences, a UK-based biotechnology company focused on longevity and the development of therapies to counteract the effects of aging and diseases associated with advanced age intends to float on the Main Market (Standard). The Company will become the first longevity biotechnology firm to list in Europe. Genflow has raised £3.7m in an oversubscribed placing, conditional upon admission becoming effective. The flotation will value Genflow at approximatel
Companies: ZOO AFN ASC CPP FIF PIP
While we were away
Mac Alpha Limited (MACA.L) joined the Main Market. (24/12/21)
Atome Energy PLC (ATOM.L) joined AIM. (30/12/21)
What’s cooking in the IPO kitchen?
Graft Polymer a business focused on the development of polymer modification and drug delivery systems is to join the Main Market (Standard). Graft Polymer has developed a proprietary set of polymer modification technologies, which can improve existing products and processing methodologies by enhancing per
Companies: VLX VRCI LBE RENX SOM TAST DDDD CMH IQG SRC
No Joiners Today.
Ridgecrest (Formerly Nakama Group) has left AIM.
What’s cooking in the IPO kitchen?
Carbon Air, a nano-technology company which leverages the adsorption properties of activated carbon and other advanced materials to improve suspension systems, enhance acoustics or reduce noise, to join AIM. The Company's proprietary technology has allowed it to develop a unique portfolio of solutions for a variety of sizeable end markets, including vehicle suspension systems,
Companies: SYS1 AML AML CWR ESNT GML JDG RENX RRR AIR
Following a +24% upgrade to FY21 EBITDA at its 16 December trading update, Audioboom has announced an even stronger end to FY21, and we upgrade our FY21 revenue by +2% to $60.2m, adjusted EBITDA by +19% to $3.0m, adjusted EPS by +22% to $0.16, and net cash by +40% to $3.0m. The upgrades have been driven by Audioboom capitalising on strong advertiser demand for its premium podcast content, strong growth in podcast audiences, and the highly successful launch of its SHOWCASE platform in Q4. For its
Companies: Audioboom Group PLC
Interims confirm unchanged forecasts after a busy end of 2021 that concluded with a flurry of acquisitions, a capital markets day, and a £104m placing. Six acquisitions in the current financial year (to April) complement 13% annualised organic ARR growth, lifting proforma ARR (including post period end acquisitions) to £86.3m (1H21: £54.8m; FY21: £64.1m). Adj EBITDA of £13.2m maintained an EBITDA margin of 34.1% vs 34.5% in 1H21, compounding the benefit of headline revenue growth of 33% to £38.
Companies: Ideagen PLC
Companies: TruFin Plc
Companies: Mirriad Advertising plc
Where next for markets in 2022? In our view, if COVID is not on the way out, we are just going to have to live with it now and it will have less and less impact on economic forecasts going forward. Instead, the bigger issues for investors to deal with in 2022 are cost inflation and staff shortages for business (which are already hitting earnings momentum), energy cost inflation and higher taxes hitting the consumer wallet, and markets that start from very elevated valuation multiples compared wi
Companies: GML HAT IOG LOK MTC QTX SOM SCE SNG TRCS TRMR