New Risk • May 07
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of British stocks, typically moving 23% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (23% average weekly change). Earnings have declined by 26% per year over the past 5 years. Market cap is less than US$10m (UK£1.57m market cap, or US$2.09m). Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Revenue is less than US$5m (€2.6m revenue, or US$2.9m). New Risk • Apr 19
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 26% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Revenue is less than US$5m (€2.6m revenue, or US$2.9m). Market cap is less than US$100m (UK£7.55m market cap, or US$10.0m). Announcement • Apr 10
Ocean Harvest Technology Group plc Provides Revenue Guidance for First Quarter 2025 Ocean Harvest Technology Group plc provided revenue guidance for first quarter 2025. For the period the company announced that continued progress since the Trading Update on 27 January 2025 with First Quarter revenues expected to be +65% year-on-year and ahead of Fourth Quarter 2024. Positive momentum is a result of existing large OceanFeed blend customers returning to normal order patterns and the addition of new OceanFeed and single seaweed customers. New Risk • Mar 02
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: UK£7.87m (US$9.90m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 26% per year over the past 5 years. Market cap is less than US$10m (UK£7.87m market cap, or US$9.90m). Minor Risk Revenue is less than US$5m (€2.6m revenue, or US$2.7m). Announcement • Jan 27
Ocean Harvest Technology Group plc Provides Revenue Guidance for the Year to 31 December 2024 and 2025 Ocean Harvest Technology Group plc provided revenue guidance for the year to 31 December 2024 and 2025. For the year 2024, the company expects reported revenue to be approximately €2.1 Million (2023: €3.4 Million) reflecting a combination of non-recurring commoditised single seaweed sales and the H1 impact of a deferral of orders from OHT's largest OceanFeed customer, whose own production was temporarily negatively impacted by a natural disaster.
The Company expects to deliver significant revenue growth in 2025 coupled with continued margin improvement and will provide more detail alongside the preliminary results, the date of which will be announced in due course. Reported Earnings • Oct 04
First half 2024 earnings released: €0.017 loss per share (vs €0.023 loss in 1H 2023) First half 2024 results: €0.017 loss per share (improved from €0.023 loss in 1H 2023). Revenue: €951.5k (down 46% from 1H 2023). Net loss: €2.13m (loss narrowed 2.3% from 1H 2023). New Risk • Oct 01
New major risk - Revenue and earnings growth Earnings have declined by 26% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-€3.5m free cash flow). Share price has been highly volatile over the past 3 months (12% average weekly change). Earnings have declined by 26% per year over the past 5 years. Minor Risks Revenue is less than US$5m (€2.6m revenue, or US$2.8m). Market cap is less than US$100m (UK£12.6m market cap, or US$16.8m). Announcement • Sep 27
Ocean Harvest Technology Group plc to Report First Half, 2024 Results on Sep 30, 2024 Ocean Harvest Technology Group plc announced that they will report first half, 2024 results on Sep 30, 2024 New Risk • Jul 23
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of British stocks, typically moving 8.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Less than 1 year of cash runway based on current free cash flow (-€3.5m). Currently unprofitable and not forecast to become profitable over next 2 years (€300k net loss in 2 years). Share price has been volatile over the past 3 months (8.9% average weekly change). Revenue is less than US$5m (€3.4m revenue, or US$3.7m). Market cap is less than US$100m (UK£10.1m market cap, or US$13.0m). Announcement • Jul 23
Ocean Harvest Technology Group plc revises Revenue Guidance for the Full Year 2024 Ocean Harvest Technology Group plc revised revenue guidance for the full year 2024. The company expects to report full year 2024 revenue which is materially lower than expectations. Reported Earnings • Mar 25
Full year 2023 earnings released: €0.031 loss per share (vs €0.044 loss in FY 2022) Full year 2023 results: €0.031 loss per share. Revenue: €3.37m (up 12% from FY 2022). Net loss: €3.41m (loss widened 20% from FY 2022). Breakeven Date Change • Mar 25
No longer forecast to breakeven The analyst covering Ocean Harvest Technology Group no longer expects the company to break even during the foreseeable future. The company was expected to make a profit of €1.00m in 2025. New forecast suggests the company will make a loss of €300.0k in 2025. Announcement • Mar 25
Ocean Harvest Technology Group plc, Annual General Meeting, Apr 25, 2024 Ocean Harvest Technology Group plc, Annual General Meeting, Apr 25, 2024, at 12:00 Coordinated Universal Time. Announcement • Mar 14
Ocean Harvest Technology Group plc to Report Fiscal Year 2023 Results on Mar 25, 2024 Ocean Harvest Technology Group plc announced that they will report fiscal year 2023 results on Mar 25, 2024 New Risk • Jan 23
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next year. Trailing 12-month net loss: €3.8m Forecast net loss in 1 year: €2.3m This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Minor Risks Currently unprofitable and not forecast to become profitable next year (€2.3m net loss next year). Revenue is less than US$5m (€3.5m revenue, or US$3.8m). Market cap is less than US$100m (UK£12.9m market cap, or US$16.4m). Announcement • Nov 22
Ocean Harvest Technology Group Plc Appoints Christopher Scott a Chief Financial Officer Ocean Harvest Technology Group Plc announced the appointment of a Chief Financial Officer. After a carefully considered and in-depth recruitment process, OHT announced that it has appointed Christopher Scott as Chief Financial Officer of the Company, to be effective from 15 January 2024. Chris is a Chartered Certified Accountant and a CFA Charterholder. His appointment is an important step in OHT's journey to deliver high growth and strong governance for shareholders. He will join OHT from FrieslandCampina, a dairy co-operative and consumer food manufacturer, where he is currently the Finance Director for UK & Ireland. Prior to that he held various senior finance positions including at the leading multinational Kimberly-Clark UK. Andy Cox will continue his role as Interim CFO until Chris joins. There will then be a short transition period to ensure a smooth handoverand the efficient completion of the Company's 2023 audit and full year financial results. Breakeven Date Change • Sep 13
No longer forecast to breakeven The analyst covering Ocean Harvest Technology Group no longer expects the company to break even during the foreseeable future. The company was expected to make a profit of €1.00m in 2025. New forecast suggests the company will make a loss of €300.0k in 2025. New Risk • Sep 12
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next 3 years. Trailing 12-month net loss: €2.8m Forecast net loss in 3 years: €300k This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Major Risk Less than 1 year of cash runway based on free cash flow trend (-€2.5m free cash flow). Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (€300k net loss in 3 years). Share price has been volatile over the past 3 months (7.8% average weekly change). Revenue is less than US$5m (€3.0m revenue, or US$3.2m). Market cap is less than US$100m (UK£17.9m market cap, or US$22.4m). Announcement • Sep 06
Ocean Harvest Technology Group plc to Report First Half, 2023 Results on Sep 12, 2023 Ocean Harvest Technology Group plc announced that they will report first half, 2023 results on Sep 12, 2023 Announcement • Jun 20
Ocean Harvest Technology Group plc Announces the Results from Four Recently Completed Feed Trials Ocean Harvest Technology Group plc announced the results from four recently completed feed trials. The first three trials were carried out by universities in conjunction with potential customers whilst the swine trial was undertaken directly by a potential customer. Highlights: A layinghen trial confirmed improvements in both egg production and feed efficiency when birds were fed an OceanFeed Poultry supplemented diet. These performance improvements materially increased income perhen. A catfish trial demonstrated that fish fed with OceanFeed Aqua in their diets had higher feed intake and weight gain, leading to a substantial increase in final weight. A trial with juvenile shrimp where OceanFeed Aqua improved both weight gain and feed efficiency, thus reducing production costs. OceanFeedTM Aqua also helped reduce mortality in a disease challenge trial run in parallel. A commercial swine trial reported material improvements in feed efficiency in piglets with OceanFeedTM Swine included in their diet. OceanFeedTM Swine successfully replaced a combination of seven conventional gut health additives. These results add to the Company's substantive dataset demonstrating the efficacy of OceanFeedTM in improving animal performance across a range of species, and highlights the important benefits of using OceanFeedTM ingredients in a number of applications. The substantial and growing breadth of data across multiple species is helpful in driving new customer adoption which remains an important aspect of OHT's revenue growth. Announcement • Jun 02
Ocean Harvest Technology Group plc, Annual General Meeting, Jun 23, 2023 Ocean Harvest Technology Group plc, Annual General Meeting, Jun 23, 2023, at 13:00 Coordinated Universal Time. Location: Fieldfisher's offices, 9th Floor, Riverbank House, 2 Swan Lane London United Kingdom Announcement • May 25
Ocean Harvest Technology Group plc Announces Executive Changes; Effective June 9 , 2023 Ocean Harvest Technology Group plc, announced that Adrian Crockett, CFO, intends to leave the Company on 9 June to pursue other opportunities. OHT has appointed Andy Cox as interim CFO in a non-Board capacity for a period of nine months, during which it will conduct a search for a permanent replacement. Andy has significant experience in acting as an interim CFO, including for a number of companies in the feed and food sector such as AB Vista, Premier Nutrition, British Pepper and Spice and East End Foods. The Company looks forward to Andy's contribution to OHT over his contract period and thanks Adrian for all his efforts on OHT's development, particularly the recent IPO process. Adrian will work with Andy to ensure an orderly handover prior to his departure.