Substantial airborne Covid detector opportunity
Great to see vaccines being rolled out, but countries will also require an early warning system to constantly monitor, respond (eg adjust HVAC) & analyse (using DNA sequencing) any new strains that might compromise a vaccine’s efficacy. The world needs a coronavirus alarm in real time, rather than having to wait until people fall ill.Kromek’s ‘1st-of-its-kind’ Biothreat detector could be the answer. Not surprisingly, this is a huge untapped market and today Kromek have announced they will receive Innovate UK funding to advance Biological-Threat Detection solutions.
Meanwhile, opportunities abound at Kromek so staying focused will be key. We sense that the Board (including a new Chairman, COO & CFO) now has a renewed spring in its step, and will be carefully juggling all short & long term priorities.
In that context we see today’s H1’21 results as mostly academic since they include a full 6 months’ impact from the pandemic - hitting elective surgeries/operations, airports and social gatherings hard. Yet the numbers weren’t too bad, with turnover only falling by 14.2% LFL to £4.6m (£5.3m LY), gross margins flattish at 54.5% (58.0%) and EBITDA (pre SBPs) coming in at -£873k (-£611k). The Board also confirmed there are sufficient funds for the next 12 months, under almost all scenarios.
The shares at 13p trade on a trailing EV/sales multiple of just 3.6x vs >5x for ‘disruptive’ IPR rich tech peers, whilst ‘the Board continues to look to the future with confidence and optimism.’
Koninklijke Philips Electronics is active in the markets of healthcare, consumer lifestyle and lighting. Co.'s activities can be divided into three segments: Healthcare (Co. provides Imaging Systems, Patient Care and Clinical Informatics, Home Healthcare Solutions and Customer Services), Consumer Lifestyle (Co.'s products are divided into the following: Health and Wellness; Domestic Appliances; and Lifestyle Entertainment), Lighting (Co. provides lighting solutions for homes, shops, offices, schools, hotels, factories and hospitals; Co. also offers solutions for roads (street lighting and car lights) and for public spaces, residential areas and sports arenas).
Kromek Group is a developer of radiation detectors based on cadmium zinc telluride, providing detection and characterization capabilities within the medical imaging, nuclear detection and security screening markets. Co. designs, develops and produces x-ray and gamma-ray imaging and radiation detection products.
OSI Systems, together with its subsidiaries, is a designer and manufacturer of electronic systems and components for applications. The company sells its products and provides related services in various markets, including homeland security, healthcare, defense and aerospace. The company's operating divisions are: Security, which provides security and inspection systems, security screening solutions and related services; Healthcare, which provides patient monitoring, diagnostic cardiology, and anesthesia delivery and ventilation systems; Optoelectronics and Manufacturing, which provides electronic components and electronic manufacturing services for the Security and Healthcare divisions.
Thermo Fisher Scientific is engaged in serving science. The company's segments include: Life Sciences Solutions, which provides reagents, instruments and consumables used in biological and medical research, discovery and production of new drugs and vaccines as well as diagnosis of disease; Analytical Instruments, which provides instruments, consumables, software and services that are used for a range of applications in the laboratory, on the production line and in the field; and Specialty Diagnostics, which provides diagnostic test kits, reagents, culture media, instruments and associated products for customers in healthcare, clinical, pharmaceutical, industrial, and food safety laboratories.
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