Valuation Update With 7 Day Price Move • May 05
Investor sentiment improves as stock rises 33% After last week's 33% share price gain to UK£3.50, the stock trades at a forward P/E ratio of 110x. Average forward P/E is 19x in the Communications industry in Europe. Total returns to shareholders of 2,943% over the past three years. Recent Insider Transactions • Apr 24
Non-Executive Chairman recently sold UK£159k worth of stock On the 21st of April, Jonathan Neale sold around 65k shares on-market at roughly UK£2.45 per share. This transaction amounted to 25% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth UK£493k. This was Jonathan's only on-market trade for the last 12 months. Price Target Changed • Apr 22
Price target increased by 7.4% to UK£2.19 Up from UK£2.04, the current price target is an average from 2 analysts. New target price is 19% below last closing price of UK£2.69. Stock is up 183% over the past year. The company is forecast to post earnings per share of UK£0.027 for next year compared to UK£0.064 last year. Valuation Update With 7 Day Price Move • Apr 17
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to UK£2.33, the stock trades at a forward P/E ratio of 73x. Average forward P/E is 15x in the Communications industry in Europe. Total returns to shareholders of 1,883% over the past three years. Recent Insider Transactions • Apr 12
Key Executive recently sold UK£493k worth of stock On the 9th of April, Michael Tyerman sold around 241k shares on-market at roughly UK£2.05 per share. This transaction amounted to 49% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Michael's only on-market trade for the last 12 months. New Risk • Mar 27
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 19% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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 Earnings are forecast to decline by an average of 19% per year for the foreseeable future. High level of non-cash earnings (23% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (7.8% average weekly change). Valuation Update With 7 Day Price Move • Mar 20
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to UK£1.61, the stock trades at a forward P/E ratio of 58x. Average forward P/E is 16x in the Communications industry in Europe. Total returns to shareholders of 1,228% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at UK£0.86 per share. New Risk • Mar 19
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 7.5% 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: Major Risk High level of non-cash earnings (23% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (7.5% average weekly change). Major Estimate Revision • Feb 16
Consensus EPS estimates fall by 21% The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate fell from UK£0.027 to UK£0.021. Revenue forecast unchanged from UK£55.4m at last update. Net income forecast to shrink 37% next year vs 73% growth forecast for Communications industry in the United Kingdom . Consensus price target of UK£2.14 unchanged from last update. Share price fell 3.4% to UK£1.97 over the past week. Reported Earnings • Feb 04
First half 2026 earnings released: EPS: UK£0.012 (vs UK£0.031 in 1H 2025) First half 2026 results: EPS: UK£0.012 (down from UK£0.031 in 1H 2025). Revenue: UK£25.3m (down 1.3% from 1H 2025). Net income: UK£2.64m (down 61% from 1H 2025). Profit margin: 11% (down from 26% in 1H 2025). The decrease in margin was primarily driven by higher expenses. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Communications industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 88% per year but the company’s share price has increased by 150% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Feb 03
Price target increased by 8.1% to UK£2.14 Up from UK£1.98, the current price target is an average from 3 analysts. New target price is 15% above last closing price of UK£1.86. Stock is up 93% over the past year. The company is forecast to post earnings per share of UK£0.025 for next year compared to UK£0.064 last year. Valuation Update With 7 Day Price Move • Jan 14
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to UK£1.93, the stock trades at a forward P/E ratio of 76x. Average forward P/E is 24x in the Communications industry in the United Kingdom. Total returns to shareholders of 1,444% over the past three years. Aankondiging • Dec 05
Filtronic plc Announces NSIP Funding to Develop High-Power Amplifier Through the UK Space Agency's National Space Innovation Programme Filtronic plc announces that it has been awarded £1.2 million funding through the UK Space Agency's National Space Innovation Programme ("NSIP") for a project to develop a high-power 550W Ka-Band Solid-State Power Amplifier ("SSPA"). Designed to fit seamlessly into existing satellite ground stations, Filtronic's new SSPA enables an easy, plug-and-play transition from older Travelling Wave Tube Amplifier ("TWTA") technology. This strategic development builds on Filtronic's successful SSPA design and targets a critically important frequency band. Ka band is central to the expansion of non-geostationary constellations, which rely on it for high-capacity, low-latency feeder and user links. Its adoption is also essential for enabling next-generation services, from in-flight connectivity to 5G Non-Terrestrial Networks. As a result, Ka band will underpin many of the high throughput Satcom services expected to shape the industry over the next decade. Aankondiging • Sep 23
Filtronic plc, Annual General Meeting, Oct 30, 2025 Filtronic plc, Annual General Meeting, Oct 30, 2025. Location: the plexus building, netpark, thomas wright way, county durham, ts21 3fd, sedgefield United Kingdom Major Estimate Revision • Aug 05
Consensus EPS estimates fall by 42% The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate fell from UK£0.03 to UK£0.017. Revenue forecast unchanged from UK£54.0m at last update. Net income forecast to shrink 72% next year vs 52% growth forecast for Communications industry in the United Kingdom . Consensus price target up from UK£1.58 to UK£1.94. Share price fell 6.5% to UK£1.45 over the past week. Reported Earnings • Jul 29
Full year 2025 earnings: Revenues and EPS in line with analyst expectations Full year 2025 results: EPS: UK£0.064 (up from UK£0.015 in FY 2024). Revenue: UK£56.3m (up 121% from FY 2024). Net income: UK£14.0m (up 347% from FY 2024). Profit margin: 25% (up from 12% in FY 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 3.2% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Communications industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 101% per year but the company’s share price has increased by 119% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Jun 12
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 44% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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 Earnings are forecast to decline by an average of 44% per year for the foreseeable future. High level of non-cash earnings (57% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (9.0% average weekly change). Significant insider selling over the past 3 months (UK£380k sold). Valuation Update With 7 Day Price Move • Jun 05
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to UK£1.46, the stock trades at a forward P/E ratio of 34x. Average forward P/E is 32x in the Communications industry in the United Kingdom. Total returns to shareholders of 1,421% over the past three years. Valuation Update With 7 Day Price Move • May 07
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to UK£1.14, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 30x in the Communications industry in the United Kingdom. Total returns to shareholders of 1,012% over the past three years. New Risk • May 07
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 44% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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 Earnings are forecast to decline by an average of 44% per year for the foreseeable future. High level of non-cash earnings (57% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (9.0% average weekly change). Significant insider selling over the past 3 months (UK£380k sold). Recent Insider Transactions • Mar 30
Key Executive recently sold UK£377k worth of stock On the 26th of March, Michael Tyerman sold around 336k shares on-market at roughly UK£1.12 per share. This transaction amounted to 46% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Michael's only on-market trade for the last 12 months. Major Estimate Revision • Mar 22
Consensus revenue estimates increase by 11% The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast increased from UK£45.2m to UK£50.3m. EPS estimate unchanged from UK£0.046 at last update. Communications industry in the United Kingdom expected to see average net income growth of 56% next year. Consensus price target of UK£1.10 unchanged from last update. Share price rose 8.0% to UK£1.15 over the past week. New Risk • Mar 20
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 45% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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 Earnings are forecast to decline by an average of 45% per year for the foreseeable future. High level of non-cash earnings (57% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (7.7% average weekly change). Valuation Update With 7 Day Price Move • Feb 12
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to UK£1.12, the stock trades at a forward P/E ratio of 33x. Average forward P/E is 20x in the Communications industry in Europe. Total returns to shareholders of 863% over the past three years. Major Estimate Revision • Feb 11
Consensus EPS estimates increase by 94% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has improved. 2025 revenue forecast increased from UK£45.8m to UK£50.3m. EPS estimate increased from UK£0.024 to UK£0.046 per share. Net income forecast to shrink 28% next year vs 58% growth forecast for Communications industry in the United Kingdom . Consensus price target up from UK£0.92 to UK£1.10. Share price rose 11% to UK£1.07 over the past week. Reported Earnings • Feb 06
First half 2025 earnings released: EPS: UK£0.031 (vs UK£0.002 loss in 1H 2024) First half 2025 results: EPS: UK£0.031 (up from UK£0.002 loss in 1H 2024). Revenue: UK£25.6m (up 202% from 1H 2024). Net income: UK£6.73m (up UK£7.25m from 1H 2024). Profit margin: 26% (up from net loss in 1H 2024). The move to profitability was driven by higher revenue. Revenue is expected to decline by 4.3% p.a. on average during the next 2 years, while revenues in the Communications industry in the United Kingdom are expected to grow by 6.2%. Over the last 3 years on average, earnings per share has increased by 84% per year but the company’s share price has increased by 95% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Feb 04
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 34% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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 Earnings are forecast to decline by an average of 34% per year for the foreseeable future. High level of non-cash earnings (57% accrual ratio). Valuation Update With 7 Day Price Move • Jan 13
Investor sentiment improves as stock rises 33% After last week's 33% share price gain to UK£1.01, the stock trades at a trailing P/E ratio of 70.4x. Average forward P/E is 17x in the Communications industry in Europe. Total returns to shareholders of 778% over the past three years. Aankondiging • Jan 06
Filtronic plc Appoints of Antonino Spatola as Chief Commercial Officer Filtronic plc announced the appointment of Antonino Spatola as its new Chief Commercial Officer. This appointment, which is focused on accelerating Filtronic's innovation and commercial potential, reflects the Group's ongoing commitment to strengthening its leadership team with a view to achieving its strategic growth objectives and solidifying its position as a global leader in radio frequency ("RF") and microwave solutions. Antonino will lead the Company's global commercial operations, focusing on driving growth and expanding market presence. With over 20 years of experience in commercial leadership, business development, and strategic growth, particularly in the Space and Defence markets, Antonino brings extensive expertise in building high-performance teams and fostering long-term customer relationships. Antonino joins Filtronic following senior roles at industry leaders such as Teledyne E2V and Leonardo, where he successfully shaped market strategies, managed complex customer relationships, and oversaw the launch of innovative products. His customer-first approach and in-depth understanding of market dynamics make him a valuable addition to Filtronic's leadership team. Board Change • Dec 06
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Non-Executive Director John Behrendt was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Aankondiging • Oct 31
Filtronic plc to Report Q2, 2025 Results on Feb 04, 2025 Filtronic plc announced that they will report Q2, 2025 results on Feb 04, 2025 Aankondiging • Sep 06
Filtronic plc Announces Deal Signed to Relocate to New Purpose-Built, State-Of-The-Art Operational Site Filtronic plc announced it is relocating its Sedgefield site to a new, larger, purpose-built state-of-the-art facility on the same business park at NetPark, Sedgefield, County Durham in early 2025. This move will double the Company's operational footprint at its main UK site, facilitating a significant expansion in both capability and capacity. The new site will feature advanced cleanroom areas, engineering laboratories, and testing facilities, reinforcing Filtronic's commitment to growth and innovation. This investment is part of a broader strategy to enhance the Company's position as a global designer and manufacturer of high-performance mmWave technologies and enable execution of its growth plans. NetPark is one of the UK's premier science parks, the development is expected to boost the local economy by creating jobs and attracting investment to the region. It aligns with regional economic development goals to foster innovation and growth in high-tech industries. Major Estimate Revision • Sep 04
Consensus EPS estimates increase by 16% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has improved. 2025 revenue forecast increased from UK£35.6m to UK£38.0m. EPS estimate increased from UK£0.025 to UK£0.029 per share. Net income forecast to grow 112% next year vs 27% growth forecast for Communications industry in the United Kingdom. Consensus price target of UK£0.92 unchanged from last update. Share price rose 2.3% to UK£0.79 over the past week. Reported Earnings • Jul 31
Full year 2024 earnings: Revenues and EPS in line with analyst expectations Full year 2024 results: EPS: UK£0.015 (up from UK£0.002 in FY 2023). Revenue: UK£25.4m (up 56% from FY 2023). Net income: UK£3.14m (up UK£2.68m from FY 2023). Profit margin: 12% (up from 2.9% in FY 2023). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 22% p.a. on average during the next 2 years, compared to a 8.8% growth forecast for the Communications industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has increased by 83% per year, which means it is tracking significantly ahead of earnings growth. Aankondiging • Jul 31
Filtronic plc, Annual General Meeting, Oct 31, 2024 Filtronic plc, Annual General Meeting, Oct 31, 2024. Location: plexus building, thomas wright way, netpark, county durham, ts21 3fd, sedgefield United Kingdom Aankondiging • Jun 21
Filtronic plc Provides Earnings Guidance for Fiscal Year Ended 31 May 2024 Filtronic plc provided earnings guidance for fiscal year ended 31 May 2024. For the period, the company expects revenue of approximately £25.4 million against £16.3 million in Fiscal year 2023. Aankondiging • Jun 21
Filtronic plc to Report Fiscal Year 2024 Results on Jul 30, 2024 Filtronic plc announced that they will report fiscal year 2024 results on Jul 30, 2024 Board Change • May 22
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Non-Executive Director John Behrendt was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Aankondiging • Apr 24
Filtronic plc Provides Earnings Guidance for the Fiscal Year 2024 and 2025 Filtronic plc provided earnings guidance for the fiscal year 2024 and 2025. For the fiscal year 2024, revenue will now be marginally ahead of expectations will be significantly ahead of expectations.For the fiscal year 2025, the company expects to be significantly ahead of current market expectations for revenue. New Risk • Mar 19
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: UK£78.2m (US$99.4m) This is considered a minor 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 Risk Share price has been highly volatile over the past 3 months (12% average weekly change). Minor Risks Significant insider selling over the past 3 months (UK£77k sold). Market cap is less than US$100m (UK£78.2m market cap, or US$99.4m). Recent Insider Transactions • Feb 12
CEO & Executive Director recently sold UK£60k worth of stock On the 6th of February, Richard Gibbs sold around 215k shares on-market at roughly UK£0.28 per share. This transaction amounted to 17% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Richard's only on-market trade for the last 12 months. Reported Earnings • Feb 08
First half 2024 earnings released: UK£0.002 loss per share (vs UK£0.002 profit in 1H 2023) First half 2024 results: UK£0.002 loss per share (down from UK£0.002 profit in 1H 2023). Revenue: UK£8.48m (up 1.3% from 1H 2023). Net loss: UK£522.0k (down 213% from profit in 1H 2023). Revenue is forecast to grow 20% p.a. on average during the next 2 years, compared to a 8.0% growth forecast for the Communications industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 53% per year, which means it is well ahead of earnings. New Risk • Feb 07
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 7.5% 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 Share price has been volatile over the past 3 months (7.5% average weekly change). Market cap is less than US$100m (UK£63.7m market cap, or US$80.5m). Aankondiging • Oct 27
Filtronic plc to Report First Half, 2024 Results on Feb 06, 2024 Filtronic plc announced that they will report first half, 2024 results on Feb 06, 2024 New Risk • Aug 13
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 7.0% 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 Share price has been volatile over the past 3 months (7.0% average weekly change). Profit margins are more than 30% lower than last year (2.9% net profit margin). Market cap is less than US$100m (UK£34.4m market cap, or US$43.7m). Aankondiging • Aug 03
Filtronic plc, Annual General Meeting, Oct 26, 2023 Filtronic plc, Annual General Meeting, Oct 26, 2023, at 09:00 Coordinated Universal Time. Location: Plexus building, Thomas Wright way Netpark, Sedgefield, County Durham, TS21 3FD County Durham United Kingdom New Risk • Aug 02
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 2.9% Last year net profit margin: 8.6% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Profit margins are more than 30% lower than last year (2.9% net profit margin). Market cap is less than US$100m (UK£34.4m market cap, or US$43.8m). Reported Earnings • Aug 02
Full year 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2023 results: EPS: UK£0.002 (down from UK£0.007 in FY 2022). Revenue: UK£16.3m (down 4.6% from FY 2022). Net income: UK£464.0k (down 68% from FY 2022). Profit margin: 2.9% (down from 8.6% in FY 2022). The decrease in margin was primarily driven by lower revenue. Revenue missed analyst estimates by 1.1%. Earnings per share (EPS) exceeded analyst estimates by 62%. Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 7.6% growth forecast for the Communications industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 73% per year but the company’s share price has only increased by 23% per year, which means it is significantly lagging earnings growth. Reported Earnings • Feb 08
First half 2023 earnings released: EPS: UK£0.002 (vs UK£0.003 in 1H 2022) First half 2023 results: EPS: UK£0.002 (down from UK£0.003 in 1H 2022). Revenue: UK£8.37m (up 4.5% from 1H 2022). Net income: UK£464.0k (down 32% from 1H 2022). Profit margin: 5.5% (down from 8.5% in 1H 2022). Revenue is forecast to grow 15% p.a. on average during the next 2 years, compared to a 6.6% growth forecast for the Communications industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 63% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Non-Executive Director John Behrendt was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Aankondiging • Oct 27
Filtronic plc to Report First Half, 2023 Results on Feb 07, 2023 Filtronic plc announced that they will report first half, 2023 results on Feb 07, 2023 Reported Earnings • Aug 03
Full year 2022 earnings: EPS misses analyst expectations Full year 2022 results: EPS: UK£0.007 (up from UK£0 in FY 2021). Revenue: UK£17.1m (up 9.6% from FY 2021). Net income: UK£1.47m (up UK£1.41m from FY 2021). Profit margin: 8.6% (up from 0.4% in FY 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 2.9%. Over the next year, revenue is forecast to grow 11%, compared to a 18% growth forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has increased by 24% per year, which means it is well ahead of earnings. Major Estimate Revision • Jun 21
Consensus forecasts updated The consensus outlook for 2022 has been updated. Communications industry in the United Kingdom expected to see average net income growth of 3.8% next year. Consensus price target of UK£0.15 unchanged from last update. Share price rose 16% to UK£0.11 over the past week. Price Target Changed • Apr 27
Price target increased to UK£0.15 Up from UK£0.14, the current price target is an average from 2 analysts. New target price is 35% above last closing price of UK£0.11. Stock is up 41% over the past year. The company is forecast to post earnings per share of UK£0.0039 for next year compared to UK£0.00028 last year. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Non-Executive Director John Behrendt was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 10
First half 2022 earnings: EPS misses analyst expectations First half 2022 results: EPS: UK£0.003 (up from UK£0 in 1H 2021). Revenue: UK£8.00m (up 12% from 1H 2021). Net income: UK£677.0k (up UK£735.0k from 1H 2021). Profit margin: 8.5% (up from net loss in 1H 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 57%. Over the next year, revenue is forecast to grow 11%, compared to a 5.0% growth forecast for the industry in the United Kingdom. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 100 percentage points per year, which is a significant difference in performance. Board Change • Nov 18
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Non-Executive Director John Behrendt was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.