Intelligent Ultrasound has announced its interim results to the end of June 2021. Revenues for the period were £3.6m, up over 45% YoY and operating loss was £2.3m (in-line with the trading update). Revenues were generated by the Simulation division other than a nominal contribution from the Clinical AI division. The company notes that the strong Simulation performance has continued into H2/21E and while COVID-19 restrictions have impacted the AI roll-out, the full potential of these first produc
Companies: Intelligent Ultrasound Group Plc
Intelligent Ultrasound has provided a trading update for the 6-months to 30 June 2021. Driven by the simulation division, the company expects revenues to be £3.6m, up 40% versus H1/20A. The clinical AI division is expected to recognise a nominal £0.1m, while the simulation division is expected to deliver growth from both direct sales (UK and US) and its reseller network. Cash at period end is expected to be £6.0m. Intelligent Ultrasound expects to maintain its investment in its business through
Joiners: LendInvest (LIND.L) has joined AIM. LendInvest plc is the ultimate holding company of LendInvest Secured Income plc, which has debt securities admitted to the Official List of the Financial Conduct Authority and are admitted to trading on the Main Market for listed securities of London Stock Exchange plc. The Offer will raise primary gross proceeds of £40m which will be used to invest in LendInvest's continued growth, through accelerating its technology roadmap and strategically expandi
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Intelligent Ultrasound has announced its unaudited preliminary results for the year to Dec 2020. Despite the COVID-19 pandemic the group is reporting on a positive year, with the highlight being the launch of its first AI software in partnership with GE Healthcare. We also note resilient performance from the simulation division, generating revenues and launching new products in a pandemic impacted market. With a strong cash balance, recently launched AI products and new pipeline simulation proje
Parsley Box, the direct to consumer provider of ready meals to the 60+ demographic, recently announced its AIM IPO plans. Parsley Box provides ready meals, which are not required to be stored in a fridge or freezer, have a shelf life of up to six months and are cooked in minutes. The company reported revenue of £24.4m for the financial year ended 31 December 2020 (unaudited). Deal details TBC and admission is expected to occur late March/ early April 2021. Caerus Mineral Resources, a London
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Umuthi Healthcare (UHS.L) , the technology led healthcare business focused on the distribution of pharmaceuticals and the provision of medical facilities in remote areas has joined the main market (standard). No funds raised. Umuthi onboarded 2,000 clients during the previous financial year which represents a single digit fraction of the immediately available customers to its MedTech platform and have booked revenues as a result of these sales, ensuring tangible proof of concept. The bespoke p
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Intelligent Ultrasound has provided a trading update for the 12 months to December 2020. The company expects revenues to be £5.2m, which, while down YoY, are composed of strong direct sales of £3.8m (+15% YoY) offset by pandemic-impacted reseller sales of £1.4m (-46% YoY). Despite the decline in revenues, the group operating loss is expected to improve to between £4.1m and £4.2m (2019A loss of £4.6m) reflecting reduced sales and marketing costs. Intelligent Ultrasound made significant business d
Further media reports that Dr Martens, the British Boot brand is planning an IPO on the LSE. It is currently owned by PE group, Permira who is expected to sell down its stake at the IPO. March 2020 YE the group had revenues of £672m and EBITDA of £184m. Deal size TBC. Upon Admission to AIM, Nightcap will acquire The London Cocktail Club Limited (the "London Cocktail Club"), which is an award winning independent operator of ten individually themed cocktail bars in nine London locations and one lo
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Following the official launch of GE Healthcare's Voluson SWIFT ultrasound machine incorporating Intelligent Ultrasound's ScanNav Assist AI technology at the end of September, the companies have now announced receipt of 510(k) clearance from the FDA. This clearance allows GE Healthcare to sell the machine in the US. We believe this represents a significant milestone for Intelligent Ultrasound, representing the first US clearance for sale of a product utilising one of its ultrasound AI technologie
Intelligent Ultrasound has announced the launch of GE Healthcare's new Voluson SWIFT ultrasound system which incorporates the company's ScanNav Assist AI technology. This represents a significant milestone for Intelligent Ultrasound marking the first AI software product launch, significantly alongside GE Healthcare, the leading company in the Women's Health ultrasound market. Intelligent Ultrasound will receive a royalty payment for each ultrasound machine on which the software is activated, and
Intelligent Ultrasound (MED.L): Half-year results for 2020 | IQ-AI (IQAI.L): LOI signed with an international medical group for StoneChecker Software Ltd (from yesterday)
Companies: Intelligent Ultrasound Group Plc (IUG:LON)IQ-AI Limited (IQAI:LON)
Intelligent Ultrasound has announced its results for the 6-months to June 2020. EBITDA loss of £1.2m was slightly ahead of the recent trading update expectation (£1.3m-£1.4m) on revenues of £2.5m for the period, which were negatively impacted by COVID-19. Currently all group revenues are generated by the Simulation division which successfully minimised the impact of COVID-19 on sales and marketing activities to limit the group level impact. Importantly, the first ScanNav AI software product rema
Intelligent Ultrasound has issued a trading update for the six months to 30 June 2020. The company expects to report revenues (which currently are all generated by the Simulation division) for H1/20E of £2.5m, down on the reported H1/19A revenues of £3.1m due to the impact of COVID-19 on reseller sales, particularly in China and Europe. Importantly, the AI division remains on track to deliver first revenues from its lead programme in 2021, while commercial discussions with OEMs for the second AI
We believe Intelligent Ultrasound is within months of receiving first royalties from the sale of its lead artificial intelligence (AI) software product. This will mark a considerable milestone in the company's development and deliver a significant positive value inflection in our opinion. While the company expects to have sufficient funds for the next 12 months, which should see it to this milestone, it has announced the raise of c£5.2m (gross) to support and de-risk its on-going product develop
Intelligent Ultrasound (MED.L): Installation of ultrasound simulator at NHS Nightingale ExCel Hospital
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We believe Keywords has a very strong business model, as it provides solutions throughout the development cycle. Keywords is an infrastructure play, benefitting from gaming industry tailwinds. 2021 is a step-change year. Thereafter we believe KWS EPS will continue to compound at attractive double-digit % rates.Buy
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Sareum Holdings PLC have published Final Year Results. We have published research on this which is attached and a snapshot of the research is below.
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ATOM headquartered in Leeds, focussed on the large-scale production of green hydrogen and ammonia intends to join AIM towards the end of the year. ATOME intends to be spun-out from AIM-listed President Energy Plc, an oil and gas com
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Today’s trading update from Driver Group is optimistic, highlighting a material improvement in activity levels during Q4 and a positive start to Q1 ’22. The rise in demand for the highermargin expert services, combined with a decline in the impact of the pandemic on decision making, a restructuring of the Middle East / APAC regions, and new offices, have resulted in renewed positive momentum. We have introduced estimates for FY21 and FY22, with the latter reflecting these strong growth drivers.
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Water Intelligence has released a very strong Q3 update and at the 9m stage has now already achieved our FY21 Normalised PBT forecast. Group revenues advanced +43% for the 9m, led by US Corporate-Owned Locations (+79%) and International Corporate-Owned Locations (+47%), supported by Franchise Royalty Income and Franchise-Related Sales, which both grew +4%. Normalised PBT for 9m was $6.5m, equal to our FY21 estimate. The group was very active in Q3, with a Midwest Home Builder contract win develo
Companies: Water Intelligence plc
Franchise Brands has released a positive trading update for the three months to 30 September 2021, the Group’s third quarter. Highlights include excellent growth from the Metro Rod franchisees who have increased system sales by 32% year-on-year (yoy) in the quarter and the recruitment of 52 new franchisees in the B2C division to date. Work on optimising the new integrated technology platform continues, improving the Metro Rod and Metro Plumb customer experience and enhancing the efficiency and p
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Franchise Brands has released a very encouraging Q3 update which states that it has delivered record Q3 results that firmly underpin FY expectations. This robust performance was driven by Metro Rod, where systems sales grew +32%. As expected, Willow Pumps has seen a more muted recovery in its supply & installation operations due to its reliance on the housebuilding sector. Recruitment in the B2C sector has returned to pre-CV19 levels. Digital transformation at Metro Rod and Metro Plumb continues
RELX shares reached a new all-time high this morning following the publication of the group’s 9-month trading update. Investors welcomed the – long-awaited – bounce back in Exhibitions as well as the improved FY21e guidance.
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Driver Group’s year end update confirms it expects to report adj. PBT in line with expectations and net cash a touch below at £6.5m (SCM previous forecast: £7.3m). It has seen a material improvement in activity levels during Q4, giving management confidence in the current year outlook. Our FY22 forecasts are therefore unchanged, continuing to show a material improvement in earnings. We see the current valuation (11.1x Sep. ’22 P/E and 5.7x EV/EBITDA) as undemanding against an improving outlook a
WATR continues to exceed expectations, as reflected in this morning's Q3-2021 announcement, showing 9-month revenue at $39.7m (up 43% YoY), EBITDA at $8.5m (up 48%) and adj. PBT at $6.5m (up 42%) – surpassing full year 2020 results on all counts. Consistently impressive revenue and profit growth rates over a number of years evidence the strength of the operating model and the value of the company's national presence as well as growing demand for their services arising from well-publicised and hi
Rentokil’s Q3 FY2021 trading update came in behind our and consensus estimates. The positive impact of organic revenue growth in the core businesses and bolt-on acquisitions was partially mitigated by the unwinding of disinfection revenue. While management maintained FY2021 guidance for the core businesses to generate mid-single-digit organic revenue growth, the share price dropped c.2% today on the back of an underwhelming Q3 update. We will tweak our estimates and target price, and are likely
Companies: Rentokil Initial plc