reports
Hybridan Small Cap Feast - 23 September 2024
23rd 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 Whats baking in the oven? Potential**** Initial Public Offerings: ITF announced: GenIP aims to list on the AIM market on 2 October 2024. It is targeting to raise £1.5m and anticipating a £6.5m market cap. GenIP is a portfolio...
- Bob Liao
B90 Holdings (B90 LN) - H1 results: Maiden profits
B90 achieved Adjusted EBITDA profitability in H1 and management is confident of meeting market expectations for Adjusted EBITDA to double in H2. The company grew H1 revenue 83% yoy and significantly reduced expenses after the new management team successfully shifted B90 to a B2B model. B90 expects an even stronger H2, with the company restructuring behind it and a strong start to the football season driving a record August. We forecast the company achieves positive FCF in H2 and cash rises to €1...
Hybridan Small Cap Feast - 30 July 24
30th 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: Mining, Minerals & Metals Plc (MMM.L) has completed the acquisition of Georgina Energy Plc and will now be trading on the London Stock Exchange under the name Georgina Energy plc (GEX.L). Georgina is an early-stage well redevelopment company which has ...
- Bob Liao
B90 Holdings (B90 LN)
B90 added another quarter of profitability in Q2 2024, putting the company on track to meet our full year forecasts. The company’s transformation continues to improve profits and growth across the board. Another strong quarter further confirms the company’s B2B strategy and the strength of its new management team. We leave our forecasts unchanged but see potential for earnings outperformance. Strong earnings growth and share price performance could enable the company to take further advantage of...
Hybridan Small Cap Feast - 16 May 2024
16th May 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: 7th May: Time To ACT plc, an engineering business focused on technology for the energy transition sector, has announced its intention to seek Admission to trading on the Aquis Stock Exchange...
- Bob Liao
B90 Holdings (B90 LN) - Turnaround drives Q1 2024 profits and promisi...
The company released 2023 results with Adjusted EBITDA loss higher than we forecast. However, the results do not significantly reflect the refocusing of the business on B2B performance marketing that started in November 2023. The restructuring has significantly reduced expenses and driven the company to EBITDA profitability throughout Q1 2024. We update our 2024 and 2025 forecasts to reflect the company’s new business model and maintain Adjusted EBITDA in both years. We continue to see profits a...
- Bob Liao
Hybridan Small Cap Feast - 08 Nov 23
8th November 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 obje...
- Bob Liao
Audio Note: B90 Holdings - H1: Repositioning to scale
In this audio note, Zeus’ Bob Liao summarises the investment case for B90 Holdings. H1 was a period of investment and restructuring that has positioned the company for strong future growth. Listen to the audio note below, and read the full research here.
- Bob Liao
B90 Holdings (B90 LN) - H1: Repositioning to scale
H1 was a period of investment and restructuring that has positioned the company for strong future growth. B90 recorded an extraordinary loss of €0.8m, whilst it fully replaced its management team, but by the end of the half the company returned to investment, from which it expects to begin benefiting in the current quarter. Moreover, the company has embarked on an ambitious buy-and-build strategy that takes advantage of attractive opportunities in the fragmented online gaming sector. B90 raised ...
- Emily Liu
Hybridan Small Cap Feast 15-09-2023
Dish of the day Joiners: No joiners today. Leavers: No leavers today. What’s cooking in the IPO kitchen?** Announced ITF 12 July: Substrate Artificial Intelligence, an artificial intelligence company based in Spain that creates, buys and scales companies around AI in diverse sectors such as fintech, agritech, energy, human resources, and health, intends to join the Access Segment of the AQSE Growth Market. Admission delayed. Announced ITF 6 July: Blackpoint Biotech plc, a medical cannabinoids co...
- Bob Liao
- Carl Smith
B90 Holdings (B90 LN) - Initiation
B90 operates online gaming sites and manages sites and services that provide leads and customers to other online gaming operators. The company adapts this hybrid strategy for mature and emerging markets to optimise costs and returns. The company is led by a proven management team and is sourcing accretive acquisitions to consolidate the fragmented online gaming sector. Our DCF analysis points to a valuation of 8.8p per share, indicating c. 53% potential upside.
1 director sold
A director at Veltyco Group sold 1,400,000 shares at 70p and the significance rating of the trade was 69/100. 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 ...
Ford Equity International Rating and Forecast Report
Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind...
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