Announcement • Apr 20
Shekel Brainweigh Ltd., Annual General Meeting, May 22, 2024 Shekel Brainweigh Ltd., Annual General Meeting, May 22, 2024, at 17:00 E. Australia Standard Time. Location: MinterEllison, Governor Macquarie Tower, 1 Farrer Place, Sydney New South Wales Australia Agenda: To receive and to consider the Annual Financial Report of the Company for the financial year ended 31 December 2023 together with the declaration of the Directors, the Directors' Report, and the Auditor's Report for that financial year; to consider Election of Mr. Sagi Cohen as an executive Director; to consider Approval of the appointment of Mr. Sagi Cohen in a combined role of Chairman of the Board and Chief Executive Officer of the Company; to consider Approval of the Terms of Compensation for Mr. Sagi Cohen; to consider Re-election of Mr. Isaac Raviv as an external Director; to consider Re-election of Mr. Shlomo Anikser as a Director; to consider Re-election of Mrs. Tzipi Avioz as an external Director; to consider Re-election of Mr. Gilead Sher as a Director; and to consider other matters. Reported Earnings • Feb 29
Full year 2023 earnings released: US$0.03 loss per share (vs US$0.017 loss in FY 2022) Full year 2023 results: US$0.03 loss per share (further deteriorated from US$0.017 loss in FY 2022). Revenue: US$27.2m (up 3.2% from FY 2022). Net loss: US$5.71m (loss widened 87% from FY 2022). Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has fallen by 22% per year, which means it is significantly lagging earnings. Board Change • Dec 01
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. 5 non-independent directors. Independent Non-Executive & External Director Isaac Raviv was the last independent director to join the board, commencing their role in 2018. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 31
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: US$0.02 loss per share (improved from US$0.044 loss in FY 2021). Revenue: US$26.4m (up 14% from FY 2021). Net loss: US$3.06m (loss narrowed 55% from FY 2021). Revenue missed analyst estimates by 8.8%. Earnings per share (EPS) also missed analyst estimates by 100%. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Announcement • Dec 15
Shekel Brainweigh Ltd. Provides Unaudited Revenue Guidance for the Fourth Quarter and Year 2022 Shekel Brainweigh Ltd. provided unaudited revenue guidance for the fourth quarter and year 2022. For the quarter, the company expects total revenue of USD 7.5 million.For the year, the company expected to deliver topline full-year sales growth in 2022 compared to 2021. Announcement • Dec 14
Rice Lake Weighing Systems, Inc. acquired Healthweigh scales product line from Shekel Brainweigh Ltd. (ASX:SBW) for $3.43 million. Rice Lake Weighing Systems, Inc. entered into an agreement to acquire Healthweigh scales product line from Shekel Brainweigh Ltd. (ASX:SBW) for $3.43 million on November 23, 2022. The consideration is paid in cash.
Rice Lake Weighing Systems, Inc. completed the acquisition of Healthweigh scales product line from Shekel Brainweigh Ltd. (ASX:SBW) on December 12, 2022. Announcement • Nov 23
Rice Lake Weighing Systems, Inc. entered into an agreement to acquire Healthweigh scales product line from Shekel Brainweigh Ltd. (ASX:SBW) for S$3.425 million. Rice Lake Weighing Systems, Inc. entered into an agreement to acquire Healthweigh scales product line from Shekel Brainweigh Ltd. (ASX:SBW) for S$3.425 million on November 23, 2022. The consideration is paid in cash. 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. 5 non-independent directors. Independent Non-Executive & External Director Isaac Raviv was the last independent director to join the board, commencing their role in 2018. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Buying Opportunity • Sep 30
Now 25% undervalued after recent price drop Over the last 90 days, the stock is down 17%. The fair value is estimated to be AU$0.13, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has declined by 20%. Revenue is forecast to grow by 22% in a year. Earnings is forecast to grow by 96% in the next year. Reported Earnings • Sep 02
First half 2022 earnings: Revenues exceed analysts expectations while EPS lags behind First half 2022 results: US$0.01 loss per share (up from US$0.02 loss in 1H 2021). Revenue: US$13.1m (up 24% from 1H 2021). Net loss: US$2.03m (loss narrowed 27% from 1H 2021). Revenue exceeded analyst estimates by 4.1%. Earnings per share (EPS) missed analyst estimates by 11%. Over the next year, revenue is forecast to grow 17%, compared to a 49% growth forecast for the Software industry in Australia. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Announcement • Jul 29
Shekel Brainweigh Ltd., Annual General Meeting, Aug 31, 2022 Shekel Brainweigh Ltd., Annual General Meeting, Aug 31, 2022, at 17:00 AUS Eastern Standard Time. Location: Level 5, 126 Phillip Street Sydney New South Wales Australia Agenda: To receive and to consider the Annual Financial Report of the company for the financial year ended 31 December 2021 together with the declaration of the Directors, the Directors' Report, and the Auditor's Report for that financial year; to consider re-election of Michael Hughes as Director; to consider ASX Listing Rule 7.1A approval of future issue of equity securities; to consider appointment of BDO Ziv Haft certified public accountants as the independent auditor of the company; to consider ratification of prior issue of Restricted Share Units; to consider ratification of prior issue of shares; and to consider ratification of prior issue of options. Announcement • Jul 28
Shekel Supplies Belgian Retailer Colruyt Dozens of Smart Refrigerators Shekel supplied dozens of smart refrigerators to the Colruyt retail group operating in Belgium, Luxembourg and France. The transaction is estimated at 1M NIS. he smart refrigerators (Hubz) are based on a product recognition technology developed by Shekel, a company that develops AI based electronic weighing systems. The refrigerators are installed with shelves that are able to automatically identify products, the door unlocks when identifying a payment method. The inventory of the refrigerator is monitored by a remote management software. The Hubz refrigerators were developed through a cooperative venture between Shekel, which developed the product recognition and weighing technology, Imbera – the world's commercial refrigerator manufacturer and Parlevel System, which develops software for managing automated vending machines. Announcement • Jul 01
Shekel Brainweigh Ltd. Announces Change of Company Secretary Shekel Brainweigh Ltd. announced that Mark Licciardo of Mertons Corporate Services has been appointed as Company Secretary and Elizabeth Spooner and Sujani Goonatilleka have resigned as Joint Company Secretaries. For the purpose of ASX Listing Rule 12.6, Mr. Licciardo will be the person responsible for communications between the Company and ASX. This announcement has been approved for release by the Board of Directors. Buying Opportunity • Jun 09
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 28%. The fair value is estimated to be AU$0.14, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.5% over the last 3 years. Earnings per share has declined by 30%. Revenue is forecast to grow by 20% in a year. Earnings is forecast to grow by 82% in the next year. Buying Opportunity • May 10
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 32%. The fair value is estimated to be AU$0.16, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.5% over the last 3 years. Earnings per share has declined by 30%. Revenue is forecast to grow by 20% in a year. Earnings is forecast to grow by 82% in the next 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. 5 non-independent directors. Independent Non-Executive & External Director Isaac Raviv was the last independent director to join the board, commencing their role in 2018. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Breakeven Date Change • Mar 10
Forecast breakeven date pushed back to 2023 The analyst covering Shekel Brainweigh previously expected the company to break even in 2022. New forecast suggests losses will reduce by 81% to 2022. The company is expected to make a profit of US$2.20m in 2023. Average annual earnings growth of 132% is required to achieve expected profit on schedule. Announcement • Mar 06
Shekel Brainweigh Ltd. Appoints Sujani Goonatilleka as Joint Company Secretary Shekel Brainweigh that Sujani Goonatilleka from the Automic Group has been appointed as Joint Company Secretary, effective immediately. Ms Elizabeth Spooner remains a Joint Company Secretary. Reported Earnings • Mar 01
Full year 2021 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2021 results: US$0.04 loss per share (down from US$0.032 loss in FY 2020). Revenue: US$23.1m (up 26% from FY 2020). Net loss: US$6.46m (loss widened 45% from FY 2020). Revenue missed analyst estimates by 1.7%. Earnings per share (EPS) exceeded analyst estimates by 100%. Over the next year, revenue is forecast to grow 18%, compared to a 30% growth forecast for the industry in Australia. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has only fallen by 18% per year, which means it has not declined as severely as earnings. Reported Earnings • Feb 28
Full year 2020 earnings released: US$0.03 loss per share (vs US$0.025 loss in FY 2019) The company reported a poor full year result with increased losses, weaker revenues and weaker control over costs. Full year 2020 results: Revenue: US$18.3m (down 2.7% from FY 2019). Net loss: US$4.45m (loss widened 30% from FY 2019). Analyst Estimate Surprise Post Earnings • Feb 28
Earnings beat expectations, revenue disappoints Revenue missed analyst estimates by 3.1%. Earnings per share (EPS) exceeded analyst estimates by 200%. Over the next year, revenue is forecast to grow 29%, compared to a 23% growth forecast for the Software industry in Australia. Announcement • Jan 29
Shekel Brainweigh's Collaboration with Hitachi Europe Gains Momentum Shekel Brainweigh Limited announced its partnership with Hitachi Europe for the sales and marketing of its smart shelf solution is gaining momentum. At the heart of this solution is weighing technology called Product Aware Shelf developed by Shekel Brainweigh Retail innovation Division which can convert any supermarket shelf into an AI-powered smart shelf that "feels" the products on it. By perceiving the weight and location on the shelf and identifying the stock keeping unit (SKU) of products by the retailer planogram, the shelf can "tell" the retailer in real time which items were picked up, returned, misplaced or are out of stock. This technology works not only in enclose vending and micro market machines but also in open stores. Shekel Brainweigh has successfully piloted already its smart shelf solution as part of an autonomous store. The pilot, published in 31 August 2020, involved the launch of a BlackBox store for Monoprix, part of the French Casino group, based on the Capsule autonomous micro store platform. This 18 square metre store offers more than 300 products, targeting clients who need to shop when traditional stores are closed. Following on the success of this pilot, Shekel Brainweigh and Hitachi Europe are joining forces to set up autonomous stores for an Israeli retail chain in Tel Aviv. The agreement with Hitachi Europe was previously announced on 12 September 2019. The Company does not consider that the commercial agreement with Hitachi Europe is material to the Company. The companies are jointly pursuing joint development and marketing of first of its kind autonomous retail shopping solutions. Announcement • Jan 26
Shekel Brainweigh Ltd. has completed a Follow-on Equity Offering in the amount of AUD 2.1 million. Shekel Brainweigh Ltd. has completed a Follow-on Equity Offering in the amount of AUD 2.1 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 13,125,000
Price\Range: AUD 0.16
Discount Per Security: AUD 0.0096
Transaction Features: Subsequent Direct Listing Announcement • Jan 22
Shekel Brainweigh Ltd. Announces the Partnership Agreement with Parlevel Systems and Imbera Cooling Shekel Brainweigh Ltd. provided the additional information in relation to the partnership: the agreement with Parlevel Systems and Imbera Cooling is not exclusive and is for a period of 5 years. The companies will jointly pursue sales and marketing initiatives in the future. Announcement • Jan 08
Shekel Brainweigh Ltd. Announce Company Secretary Changes Shekel Brainweigh Ltd. announced that following her resignation from the Automic Group, Sinead Teague has also resigned as Company Secretary of Shekel effective immediately. Ms. Elizabeth Spooner from the Automic Group has been appointed as Company Secretary, effective immediately. Announcement • Jan 06
Shekel Brainweigh Ltd. Announces Termination of Edgify Agreement Shekel Brainweigh Ltd. announced that the agreement based on the memorandum of understanding with UK software company, Edgify, as announced on 1 August 2019 (the "Agreement"), has been terminated. The collaboration was exploratory to determine the strategic and commercial opportunities
between Shekel and Edgify. The company contends that Edgify has breached the agreement, among others, it's non-compete obligations thereunder, and therefore is currently considering its legal options. The company confirmed that the termination of the agreement with Edgify does not have any
material financial implications or any significant/material changes to the commercial activities of Shekel. Shekel is continuing the development of Fast Track, its self-checkout modules based on visual recognition using AI as well as enhanced security algorithms. Announcement • Sep 22
Shekel Brainweigh Limited Appoints Nir Leshem as CEO of Shekel Scales Division Shekel Brainweigh Limited has announced the appointment of Nir Leshem as the Chief Executive Officer of the company's core business division, Shekel Scales, effective 21 September 2020. Mr. Leshem's appointment completes the management restructure, which saw Arik Schor appointed as Chairman and CEO of Shekel Brainweigh on 30 July 2020. The Retail Innovation Division, housing the Company's R&D and new product function, will continue under the leadership of its Chief Executive Officer, Udi Wiesner. The Board thanks Yedidia Yossef for his valuable contribution and leadership as CEO of Shekel Scales during 5.5 years and a transformative period for the business. Previously, Mr. Leshem was at 3M, as Director of Transportation Safety Division in the US.