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Hybridan Friday Takeaway - 15 November 2024
Alphabetically arranged Share prices and market capitalisations taken from the current price on the day of publication APTA Novel Binders SBDS On Target WPHO Chasing Wind Aptamer Group 0.275p £5.3m (APTA.L) Source: Alpha Terminal Aptamer is a life science Company developing custom affinity binders through its proprietary Optimer platform which enables new approaches in therapeutics, diagnostics, and research applications. Aptamers, affinity reagents, have short single-stranded DNA or RNA, which ...
Hybridan Small Cap Feast - 12 November 2024
* A corporate client of Hybridan LLP ** Potential means Intention to Float (ITF) has been announced, or it is a rumour ***Arranged by type of listing and date of announcement ****Alphabetically arranged Share prices and market capitalisations taken from the current price on the day of publication Dish of the day Admissions: None Delistings: None What’s baking in the oven? ITF announced:*** Potential** Initial Public Offerings: 31 October 2024: Winking Studios: the AAA Art Outsourcing and Game De...
- Nick Spoliar
Windar Photonics (WPHO LN) - Contracts slip but big picture remains st...
WPHO’s update this morning highlights significant progress in its market engagement, with advanced discussion ongoing with a range of independent power producers (IPPs). Collectively these represent a potential client-base of approaching 3,000 turbines; and including other geographies, an overall bid pipeline of some €60m is prospective, significantly ahead of previous engagement by the company with the market, and reflecting progress which has been made in the past eighteen months. WPHO is a l...
- Nick Spoliar
Audio Note: Windar Photonics - Scaling up post fund-raise
In this audio note, Zeus’ Nick Spoliar summarises the investment case for Windar Photonics. Following WPHO’s successful £4m April fund-raise, H1 24 results demonstrate continuing rapid scale up, with revenues well ahead YoY and significantly expanded gross margins.
Hybridan Small Cap Feast - 12 September 2024
12th September 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, or it is a rumour Dish of the day Admissions: None Delistings: None What’s baking in the oven? Our daily digest of news from UK Small Caps If you would like to unsubscribe, please email with “unsubscribe me”. Hybridan Chefs Banquet Buffet*** Andrada Mining 3.6p £59.5m (ATM.L) The critical...
- Charlie Cullen
Windar Photonics (WPHO LN) - Scaling up post fund-raise
Following WPHO’s successful £4m April fund-raise, H1 24 results this morning demonstrate continuing rapid scale up, with revenues well ahead YoY and significantly expanded gross margins. WPHO is a leading innovator in the field of wind turbine optimisation with unique IP, has qualified its systems on a meaningful range of turbine platforms globally, and notably in the pre-eminent US market. We are encouraged by signs of good momentum in taking its product to market - 71% YoY revenue growth and a...
Hybridan Small Cap Feast - 5 August 24
5th August 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, or it is a rumour Dish of the day Admissions: Delistings: What’s baking in the oven? ** Our daily digest of news from UK Small Caps If you would like to unsubscribe, please email with “unsubscribe me”. Hybridan Chefs Banquet Buffet*** Clean Invest Africa 0.045p £0.9m (AQSE: CIA) The investmen...
Hybridan Small Cap Feast - 19 July 2024
19th July 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, or it is a rumour Dish of the day Admissions: None Delistings: None What’s baking in the oven? ** Potential**** Initial Public Offerings: ITF announced: 8th July 2024: Rome Resources: The Canada-based early-stage resource exploration Company has announced its intention to IPO on AIM in order to co...
Hybridan Small Cap Feast - 1 July 2024
1 July 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, or it is a rumour Dish of the day Admissions: Delistings: San Leon Energy (SLE.L) has delisted from AIM Gensource Potash Corporation (GSP.L) has delisted from AIM What’s baking in the oven? ** Potential**** Initial Public Offerings: ITF announced: 19 June 2024: IntelliAM, an artificial intelligence c...
Hybridan Small Cap Feast - 08 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: European Green Transition (EGT.L) a developer of green economy assets in Europe which aims to capitalise on the opportunity created by the green energy transition has joined AIM with a successful placing and subscription at a price of 10p per share. The Company has raised approx. £6.46...
Hybridan Small Cap Feast - 22 Feb 24
22st February 2024 @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 obj...
Hybridan Small Cap Feast - 14 Feb 24
14th February 2024 @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 obj...
Windar Photonics: 1 director
A director at Windar Photonics bought 1,000,000 shares at 31p and the significance rating of the trade was 72/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly...
- Anne Margaret Crow
Windar Photonics - Retrofit activity driving growth in the short term
Windar Photonics posted record revenues and got close to EBITDA break-even during FY18. Management expects current customer projects with Vestas and continued demand in Asia to drive further growth in the retrofit segment during FY19. It also expects volume deliveries to OEMS to commence in the near future, but we exclude these from our estimates.
- Anne Margaret Crow
Windar Photonics - Supply chain issues dampen FY18 growth
Windar’s revenues from product sales grew by 80% year-on-year during FY18, enabling it to reduce EBITDA losses from €1.2m to €0.4m. Growth was slower than expected because of supply chain issues. Although these issues have now been resolved, they have a knock-on effect on follow-on orders for FY19, so we reduce our estimates for both forecast years.
- Anne Margaret Crow
Windar Photonics - Continued strong growth in revenues
H118 has started well with 33% y-o-y jump in revenues taking Windar close to EBITDA breakeven. The distribution agreement with Vestas announced in June should help drive sales to independent power providers (IPPs) globally. However, a shortage of key components in Q218 means the company has issued FY18 revenue guidance of €4.0–4.5m, which is significantly below our previous estimate. We revise our estimates and adjust our indicative valuation from 125p/share to 124p/share.
- Anne Margaret Crow
Windar Photonics - Global distribution agreement with Vestas
Windar Photonics has signed a global distribution agreement with wind turbine manufacturer Vestas Wind Systems. Vestas will now be selling and marketing Windar’s two-beam LiDAR system as a retrofit after-sales solution to the wind industry. The agreement is supportive of our estimates, which we leave unchanged.
- Anne Margaret Crow
Windar Photonics - Technology deployments intensifying
FY17 was a pivotal year for Windar. An order for 300 units towards the year-end helped drive a doubling in revenues and suggests that the wind turbine industry is beginning to adopt its wind measurement technology. We leave our estimates and indicative valuation of 125p/share broadly unchanged, noting the potential for a substantial rise in indicative valuation once management is able to announce that the technology has been designed-in by turbine manufacturers, which is a key catalyst for volum...
- Anne Margaret Crow
Windar Photonics - Engagement with OEMs intensifying
Following the announcement of a transformational contract on 4th December, Windar Photonics issued two announcements later in the month regarding orders related to wind turbine OEMS. Although neither order was of the scale of the earlier transformational contract which was primarily for retrofitting turbines already in the field, they demonstrate the interest OEMs are showing in the technology, which will potentially lead to strong growth in future. We will update our estimates following the pe...
- Anne Margaret Crow
Windar Photonics - Transformational Chinese contract signed
Windar Photonics has received a follow-on order from one of its Chinese distributors for 300 WindEYE LiDAR systems. The first 50 are for delivery this month, the remaining 250 during H118. Management believes that there is potential for significant follow-on orders in H218. The financial details have not been disclosed, but we calculate that this order represents two to three times as many LiDAR systems as were shipped in either FY16 or H117. We will update our estimates shortly.
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