Buy Or Sell Opportunity • Apr 27
Now 23% overvalued Over the last 90 days, the stock has fallen 7.1% to €0.11. The fair value is estimated to be €0.088, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue is forecast to decline by 5.9% in 2 years. Earnings are forecast to grow by 85% in the next 2 years. Reported Earnings • Apr 24
Full year 2025 earnings released Full year 2025 results: Revenue: €1.74b (down 6.9% from FY 2024). Net loss: €145.0m (loss narrowed 9.9% from FY 2024). Revenue is forecast to decline by 3.0% p.a. on average during the next 2 years, while revenues in the Communications industry in France are expected to remain flat. New Risk • Mar 02
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 French stocks, typically moving 11% 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 (11% average weekly change). Negative equity (-€381m). Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Currently unprofitable and not forecast to become profitable over next 2 years (€10m net loss in 2 years). Market cap is less than US$100m (€56.4m market cap, or US$66.2m). New Risk • Feb 20
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2025. 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 Negative equity (-€381m). Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Currently unprofitable and not forecast to become profitable over next 2 years (€10m net loss in 2 years). Share price has been volatile over the past 3 months (11% average weekly change). Market cap is less than US$100m (€56.3m market cap, or US$66.2m). New Risk • Dec 29
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 French stocks, typically moving 7.7% 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 Negative equity (-€381m). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (€10m net loss in 2 years). Share price has been volatile over the past 3 months (7.7% average weekly change). Market cap is less than US$100m (€49.5m market cap, or US$58.2m). New Risk • Nov 03
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next 2 years. Trailing 12-month net loss: €99m Forecast net loss in 2 years: €10m 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 Negative equity (-€381m). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (€10m net loss in 2 years). Market cap is less than US$100m (€61.9m market cap, or US$71.3m). Reported Earnings • Aug 03
First half 2025 earnings released First half 2025 results: Revenue: €861.0m (down 14% from 1H 2024). Net loss: €81.0m (loss narrowed 51% from 1H 2024). Revenue is expected to decline by 1.0% p.a. on average during the next 3 years, while revenues in the Communications industry in France are expected to grow by 6.1%. Breakeven Date Change • May 31
Forecast to breakeven in 2026 The analyst covering Vantiva expects the company to break even for the first time. New forecast suggests losses will reduce by 74% to 2025. The company is expected to make a profit of €100.0k in 2026. Average annual earnings growth of 119% is required to achieve expected profit on schedule. Major Estimate Revision • May 02
Consensus revenue estimates decrease by 17% The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast fell from €2.33b to €1.93b. EPS estimate unchanged from -€0.28 per share at last update. Communications industry in France expected to see average net income growth of 59% next year. Consensus price target of €0.16 unchanged from last update. Share price rose 3.6% to €0.16 over the past week. Breakeven Date Change • Apr 30
Forecast to breakeven in 2026 The 2 analysts covering Vantiva expect the company to break even for the first time. New consensus forecast suggests losses will reduce by 52% to 2025. The company is expected to make a profit of €25.6m in 2026. Average annual earnings growth of 137% is required to achieve expected profit on schedule. Reported Earnings • Apr 19
Full year 2024 earnings: Revenues miss analyst expectations Full year 2024 results: Revenue: €1.87b (down 10% from FY 2023). Net loss: €161.0m (loss narrowed 43% from FY 2023). Revenue missed analyst estimates by 4.4%. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 6.2% growth forecast for the Communications industry in France. Announcement • Apr 04
Vantiva Launches the HomeSight Wellness Module to Transform Home Care Vantiva announced the launch of the HomeSight Wellness Module, an innovative addition to the HomeSight Connected Care suite. This new solution supports home care and home healthcare providers in offering personalized, preventive, and cost-effective remote care directly to their clients' homes. The Wellness Module expands the reach of home care services, making them more efficient and holistic. By integrating connected smart healthcare devices with a familiar TV interface, it enables remote preventative care, wellness programs, and rehabilitation initiatives—bringing value to care providers, clients, and families. The HomeSight Wellness Module offers advanced technology and user-friendlyb features to streamline home care, including: Health Metrics Data Collection: The HomeSight system enables secure collection of data from supported 3rd party wireless-connected devices; including blood pressure, weight, temperature, oxygen saturation, glucose levels and more. The HomeSight system complies with the security measures required by the USA Health Insurance Portability and Accountability Act (HIPAA) to ensure sensitive patient data is protected. Task Tools for Better Engagement: Care givers can assign reminders for tasks such as medication, exercises and health measurements that appear on the TV. This feature includes tracking of completed actions, to ensure better adherence to health and wellness programs. Cost-effective and scalable, these features help providers expand their services efficiently while ensuring care remains personal and closely connected to clients' needs. Unlocking New Opportunities for Providers: The Wellness Module helps providers expand their services with high-value, revenue-generating solutions designed for convenience and impact, including: Preventative Care: Identifying health concerns early to enable timely intervention. Health & Wellness Programs: Virtual programs that support ongoing health management, reducing the need for frequent in-person visits. Clients can follow personalized plans for medication, exercise, and health tracking at home. Rehabilitation Support: Recovery programs and remote monitoring to assist clients in regaining strength and mobility. Bringing More Confidence to Clients and Families: For clients, this addition to the HomeSight Connected Care suite provides continuous support, timely interventions, and greater independence—ensuring care isn't limited to scheduled visits. From a simple reminder to stay active to real-time health monitoring, the Wellness Module makes personalized care easier, smarter, and more accessible. Announcement • Mar 28
Rodeofx Inc. acquired Mikros Image SAS from Vantiva S.A. (ENXTPA:VANTI). Rodeofx Inc. acquired Mikros Image SAS from Vantiva S.A. (ENXTPA:VANTI) on March 27, 2025.
Rodeofx Inc. completed the acquisition of Mikros Image SAS from Vantiva S.A. (ENXTPA:VANTI) on March 27, 2025. Reported Earnings • Mar 14
Full year 2024 earnings released Full year 2024 results: Revenue: €1.87b (down 10% from FY 2023). Net loss: €161.0m (loss narrowed 43% from FY 2023). Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 6.1% growth forecast for the Communications industry in France. Announcement • Mar 14
Vantiva S.A. Provides Sales Guidance for the Year 2025 Vantiva S.A. provides sales guidance for the year 2025. For the period, the company expects sales in 2025 to remain in line with 2024 levels. New Risk • Mar 09
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next 2 years. Trailing 12-month net loss: €222m Forecast net loss in 2 years: €49m 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 Negative equity (-€117m). Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Currently unprofitable and not forecast to become profitable over next 2 years (€49m net loss in 2 years). Share price has been volatile over the past 3 months (8.6% average weekly change). Announcement • Mar 06
Vantiva S.A. to Report First Half, 2025 Results on Jul 30, 2025 Vantiva S.A. announced that they will report first half, 2025 results on Jul 30, 2025 New Risk • Feb 28
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -€13m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. 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 (-€13m free cash flow). Negative equity (-€117m). Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Share price has been volatile over the past 3 months (6.9% average weekly change). Market cap is less than US$100m (€78.3m market cap, or US$81.5m). New Risk • Feb 21
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 French stocks, typically moving 6.8% 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 Negative equity (-€117m). Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Share price has been volatile over the past 3 months (6.8% average weekly change). Market cap is less than US$100m (€76.7m market cap, or US$80.3m). New Risk • Feb 18
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 Negative equity (-€117m). Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Market cap is less than US$100m (€59.3m market cap, or US$62.1m). Breakeven Date Change • Feb 17
Forecast to breakeven in 2026 The analyst covering Vantiva expects the company to break even for the first time. New forecast suggests losses will reduce by 48% per year to 2025. The company is expected to make a profit of €25.6m in 2026. Average annual earnings growth of 96% is required to achieve expected profit on schedule. New Risk • Nov 16
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -€13m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. 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 (-€13m free cash flow). Negative equity (-€117m). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (€101m net loss in 2 years). Share price has been volatile over the past 3 months (6.4% average weekly change). Shareholders have been diluted in the past year (38% increase in shares outstanding). Market cap is less than US$100m (€67.4m market cap, or US$70.9m). New Risk • Nov 14
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 French stocks, typically moving 6.4% 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 Negative equity (-€117m). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (€101m net loss in 2 years). Share price has been volatile over the past 3 months (6.4% average weekly change). Shareholders have been diluted in the past year (38% increase in shares outstanding). Market cap is less than US$100m (€67.5m market cap, or US$70.9m). New Risk • Aug 05
New major risk - Negative shareholders equity The company has negative equity. Total equity: -€117m This is considered a major risk. Being in negative equity means that the company's liabilities exceed its assets, meaning it owes more to creditors than it has in owned assets. While this doesn't mean the company is about to collapse, in the long-term, this is unsustainable. The company may have issues meeting financial obligations, is at risk of becoming insolvent and may have difficulty raising capital, especially more debt, if needed. Currently, the following risks have been identified for the company: Major Risk Negative equity (-€117m). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (€46m net loss in 2 years). Shareholders have been diluted in the past year (38% increase in shares outstanding). Market cap is less than US$100m (€51.8m market cap, or US$56.5m). Major Estimate Revision • Jul 31
Consensus EPS estimates fall by 32%, revenue upgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast increased from €2.08b to €2.26b. Forecast EPS reduced from -€0.265 to -€0.35 per share. Communications industry in France expected to see average net income growth of 33% next year. Consensus price target of €0.19 unchanged from last update. Share price fell 11% to €0.11 over the past week. Reported Earnings • Jul 26
First half 2024 earnings released First half 2024 results: Revenue: €1.00b (down 3.3% from 1H 2023). Net loss: €166.0m (loss narrowed 27% from 1H 2023). Revenue is forecast to grow 5.7% p.a. on average during the next 3 years, compared to a 8.1% growth forecast for the Communications industry in France. Announcement • May 18
Vantiva Launches the Self-Storage Unified Operations Management Platform Vantiva announced the launch of the Vantiva Smart Storage Version 1.0 operations management platform. Vantiva Smart Storage V1.0 is the first operations management platform designed exclusively for the self-storage industry. This SaaS platform is built to make running a self-storage portfolio easier and more efficient by unifying all technology systems – including sensors, HVAC, access control and more – in a "single pane of glass" dashboard. It works with existing and new devices and subsystems, regardless of manufacturer and connection technology. With access to data insights from every subsystem and location on a single screen, operators can oversee even thousands of sites from anywhere. The service includes customer needs assessment, dashboard customization, and system user training. Vantiva customers also receive ongoing support for the lifetime of the platform. Vantiva Smart Storage V1.0 enables site operators to: Reduce utility costs through remote HVAC monitoring and control. Automate time-consuming daily tasks like lock-checks and walk-throughs. Respond to real-time alerts, addressing events that could damage the facility, including leaks, fires, or unusual occupancy patterns. Increase safety & security through intrusion detection and motion-based video capture. Simplify and Improve employee experiences through unified subsystem management. Vantiva Smart Storage V1.0 is now available for deployment. Major Estimate Revision • Apr 26
Consensus EPS estimates fall by 18%, revenue upgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast increased from €1.95b to €2.08b. Forecast EPS reduced from -€0.225 to -€0.265 per share. Communications industry in France expected to see average net income growth of 42% next year. Consensus price target of €0.19 unchanged from last update. Share price fell 10% to €0.14 over the past week. Board Change • Apr 17
Less than half of directors are independent Following the recent departure of a director, there are only 5 independent directors on the board. The company's board is composed of: 5 independent directors. 6 non-independent directors. Independent Non-Executive Director Katleen Vandeweyer was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 27
Full year 2023 earnings released Full year 2023 results: Revenue: €2.08b (down 25% from FY 2022). Net loss: €283.0m (loss narrowed 47% from FY 2022). Revenue is expected to decline by 2.5% p.a. on average during the next 2 years, while revenues in the Communications industry in France are expected to grow by 3.3%. New Risk • Mar 22
New major risk - Revenue and earnings growth Earnings have declined by 20% 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 Share price has been highly volatile over the past 3 months (22% average weekly change). Earnings have declined by 20% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Shareholders have been diluted in the past year (38% increase in shares outstanding). Market cap is less than US$100m (€68.3m market cap, or US$73.9m). Announcement • Feb 29
Vantiva Demonstrates One of the First Carrier-Grade Wi-Fi 7 Extenders and Advanced 5G FWA CPE at Mobile World Congress 2024 Vantiva announced plans for Mobile World Congress (MWC) 2024. The company, which now takes the top provider position of home gateways and set-top boxes following its recent acquisition of CommScope’s Home Networks division, is demonstrating its latest carrier-grade tri-band Wi-Fi 7 gateways, Eagle X3 extender and its 5G fixed wireless access (FWA) gateways, the Cobra 5G and Falcon 5G. The customer premises equipment (CPE) is supported by a powerful software suite, including NaviGate 5G™ and NaviGate Companion™, which simplify the installation and management of gateways and extenders for end-users and operators. Cobra 5G and Falcon 5G FWA gateways use Vantiva’s breakthrough Indoor5G™ technology. The Indoor5G™ allows for self-optimization of the 5G gateway antennas by automatically tuning the configuration to ensure the best reception from operators’ towers. Cobra 5G can be used as an Ethernet gateway and an FWA gateway, making it an ideal solution for small and medium-sized businesses. With its WanSensing™ feature, the Cobra 5G gateway can switch between wired and 5G connectivity to always support reliable service continuity. Vantiva’s 5G FWA product range comes equipped with the NaviGate 5G™ app, allowing end-users self-installation, hence reducing operators’ OPEX. Eagle X3 is the new Vantiva premium Wi-Fi 7 tri-band extender and one of the first carrier-grade extenders on the market to leverage all advanced Wi-Fi 7 features, such as broader channel widths and multi-link operations, improving the quality of user experience. Eagle X3 can be used as an extender or an access point. The NaviGate Companion™ app is a white-labeled iOS and Android application for all Vantiva gateways and extenders that allows consumers to set up and manage their home gateways and extenders using their mobile phones and tablets. Vantiva will also be discussing sustainability initiatives for customers, partners and end-users. The company has implemented a range of measures to reduce its environmental footprint, including the incorporation of recycled plastics, the reduction of device power consumption and the creation of packaging that is smaller and lighter. Announcement • Feb 09
Vantiva Announces Board Changes Vantiva announced appointment of representatives of TPG Angelo Gordon and CommScope Company Inc., Nicola Mueller and Krista Bowen, respectively, who were elected to the Board at the last General Meeting. Vantiva also announced the appointment of Barclays Bank Ireland Plc, represented by Shabab Ditta, as Board Observer. Richard Moat, who stepped down after a long tenure to allow, and in support of, a change in strategic direction following successful completion of the CommScope Home Networks acquisition. Nicola Mueller is a Director at TPG Angelo Gordon. Nicola Mueller joined TPG Angelo Gordon in 2019 and is a senior investment professional in the TPG Angelo Gordon European Credit Solutions team. Prior to TPG Angelo Gordon, Nicola Mueller was an investment professional at Oaktree Capital Management and Goldman Sachs. Nicola Mueller brings valuable financial expertise to the Board. Krista Bowen is Senior Vice President and Deputy General Counsel of CommScope, which she joined in 2010. Krista Bowen will bring over 25 years of legal experience to the Board in addition to a wealth of knowledge on CommScope Home Networks. Prior to joining CommScope, Krista Bowen was a partner at the law firm Robinson, Bradshaw & Hinson, specializing in mergers and acquisitions. Shabab Ditta joined Barclays in 2006 and is a Managing Director in the Credit Trading business at Barclays Bank Plc. Vantiva’s Board of Directors now comprises 12 directors, 60% of whom are independent. The proportion of women on the Board is 50%. Major Estimate Revision • Oct 28
Consensus revenue estimates fall by 19% The consensus outlook for revenues in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from €2.61b to €2.11b. Forecast losses increased from -€0.17 to -€0.20 per share. Communications industry in France expected to see average net income decline 7.9% next year. Consensus price target down from €0.28 to €0.23. Share price fell 6.4% to €0.14 over the past week. New Risk • Oct 05
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 French stocks, typically moving 8.6% 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 (-€185m). Currently unprofitable and not forecast to become profitable over next 2 years (€40m net loss in 2 years). Share price has been volatile over the past 3 months (8.6% average weekly change). Market cap is less than US$100m (€53.7m market cap, or US$56.4m). Announcement • Sep 06
Vantiva S.A. Launches Vantiva Smart Storage Vantiva S.A. announced the launch of Vantiva Smart Storage, the first end-to-end Wi-Fi and Internet of Things (IoT) software-as-a-service solution for the self-storage industry. Designed to transform self-storage facilities into smart spaces, this solution leverages Vantiva's position as a leader in networked connectivity to empower property owners and operators to deliver a modern, efficient and customer-centric storage experience while driving growth and profitability. The self-storage market is the initial strategic entry point into vertical smart solutions for Vantiva. There are over 50,000 self-storage facilities with annual revenue reaching $40 billion and an average profit margin of 41% in the U.S., according to Neighbor's 2022 Self-Storage Industry Statistics report. Vantiva's Smart Storage solution is simple to deploy and manage. This completely customizable and future-proof platform integrates 3rd party connected devices and subsystems while supporting multiple communication protocols. By leveraging data analytics, this advanced solution integrates disparate technology silos and delivers actionable information to address the unique needs of the self-storage industry, including the improvement of operational efficiencies that result in reducing costs, risks and liabilities for property owners and operators. Vantiva's Smart storage has four main benefits for property owners and operators: Robust world-class internet connectivity: Vantiva's solution provides trusted connectivity for site-wide coverage, reliable networking capabilities and easy-to-install range extenders that scale with any sized business. Remote and secure asset management and monitoring: Vantiva provides a fully integrated device and connectivity software platform that allows users 24/7 remote and secure monitoring of critical assets, including alerts. Creation of new operational efficiencies: Vantiva's platform enables site operators to automate customer interactions and transactions, facilitating optimized unit provisioning and configuring. A completely customizable tenant experience for a highly differentiated offering: Vantiva provides a complete end-to-end solution that culminates in a consumer-facing app. Renters can remotely access and monitor their units through cameras and monitor temperature, humidity and other environmental conditions. This is the latest development in Vantiva's ongoing commitment to providing open and innovative technologies to industry leaders worldwide. The ultimate goal is to empower businesses to deliver end-users seamless connectivity and premium experiences by creating best-in-class solutions and partnering with the most innovative companies in the IoT ecosystem. Announcement • Aug 31
Vantiva Launches New Software Suite for Network Service Providers and Consumers Vantiva announced the launch of its new generation of software services under the NaviGateTM Suite at IBC 2023. This NaviGateTM Suite focuses on bringing added value to Network Service Providers (NSPs) and TV operators while improving the consumer experience. The NaviGateTM Suite features three services: NaviGate IQTM, NaviGate 5GTM and NaviGate CompanionTM. NaviGate IQTM provides operators with advanced data analytics and machine learning to improve set-top box (STB) performance and offer upgraded and tailored services. NaviGate 5GTM & NaviGate CompanionTM offer a range of white-labeled iOS/Android tools for broadband, from 5G signal optimization to managing and accessing gateways from anywhere. NaviGate IQTM: Provides operators with valuable insights into their Android TV subscribers' video service consumption. It is designed to be used on a Vantiva STB as well as a competitor's hardware. It is a lightweight monitoring agent running on subscribers' STB. NaviGate IQTM allows operators to understand how the end-user is consuming content and using applications with the goal of providing a better experience and tailored services. On the back end, NaviGate IQTM takes advantage of machine learning to detect anomalies at the earliest stages, accelerating root cause analysis and proactive corrections to preserve customer experience. NaviGate IQTM has the capability to identify and inform the operator of rogue and pirated content consumption, preventing loss of revenue for operators. NaviGate 5GTM: Supporting Vantiva’s 5G Fixed Wireless Access (FWA) gateways, the NaviGate 5GTM is a white-labeled application for both iOS and Android mobile devices that helps consumers locate the best 5G reception “sweet spot” in their home. NaviGate 5GTM helps the end-user set up and position the FWA gateway to maximize performance. The app also runs signal strength and speed tests, providing users with the most accurate data to confirm its correct installation. It enables and secures the quality of end-user self-service installation, reducing inbound technical support calls and the costs of truck rolls. NaviGate CompanionTM: For broadband operators, NaviGate CompanionTM is a white-labeled iOS and Android application for all Vantiva gateways that allows consumers to set up and manage their home gateways and extenders using their mobile phones and tablets. NaviGate CompanionTM allows end users to monitor and manage their home network in real-time and from anywhere. It grants visibility and defines Internet access rules, including advanced Wi-Fi settings and parental controls. This is the latest development in Vantiva’s ongoing commitment to providing open and innovative technologies for Network Service Providers (NSPs) and TV operators around the world. The ultimate goal is to help deliver consumers seamless connectivity and premium entertainment experiences by creating best-in-class customer premise equipment (CPE) and partnering with the most innovative companies in the connected home ecosystem. New Risk • Aug 07
New minor risk - Financial position The company has less than a year of cash runway based on its current free cash flow. Free cash flow: -€185m This is considered a minor risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risk Shareholders have been substantially diluted in the past year (51% increase in shares outstanding). Minor Risks Less than 1 year of cash runway based on current free cash flow (-€185m). Currently unprofitable and not forecast to become profitable over next 2 years (€44m net loss in 2 years). Market cap is less than US$100m (€65.5m market cap, or US$72.1m). Announcement • Aug 03
Vantiva S.A. Announces Executive Changes Vantiva (Euronext Paris: VANTI), formerly known as Technicolor, a global technology leader in the field of ultra-high-speed broadband connections, with a presence in 20 countries and over 5,300 employees worldwide, announced on Wednesday the appointment of Rob Wipper as the President of Supply Chain Solutions division (SCS). Rob has spent more than 25 years of his career in high-volume, high-intensity manufacturing and logistics operations. Prior to this new position, he was Vantiva's Senior Vice President of North America SCS operations. Rob will be based in Memphis, Tennessee and will replace Bruno Roqueplo, who served as the interim president of SCS since March. Bruno will remain with the division until the end of 2023, as a strategic advisor to Rob. Vantiva welcomes his contribution to the continued growth and profitability of SCS. Price Target Changed • Jul 30
Price target decreased by 15% to €0.28 Down from €0.33, the current price target is an average from 2 analysts. New target price is 39% above last closing price of €0.20. Stock is down 94% over the past year. The company is forecast to post a net loss per share of €0.17 next year compared to a net loss per share of €1.97 last year. Announcement • Jul 24
Vantiva S.A. to Report First Half, 2023 Results on Jul 27, 2023 Vantiva S.A. announced that they will report first half, 2023 results on Jul 27, 2023 Announcement • Jul 01
Vantiva S.A. Announces Audit Committee Changes Vantiva announced that Katleen Vandeweyer, Independent Director and member of Vantiva’s Audit Committee and Board of Directors, has been appointed Chairwoman of the Audit Committee on June 20, 2023. She succeeds Mindy Mount, who stepped down from the Chairwomanship of the Audit Committee on June 20, 2023, and who will be stepping down from the Board effective June 30, 2023. Katleen Vandeweyer has been a member of the company’s Board of Directors and Audit Committee since April 27, 2023. Mindy Mount has been a member of the Board of Directors since April 2016, and Chairwoman of the Audit Committee since February 2017. Breakeven Date Change • May 23
No longer forecast to breakeven The 3 analysts covering Vantiva no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of €31.0m in 2023. New consensus forecast suggests the company will make a loss of €42.2m in 2024. Board Change • May 17
High number of new directors There are 5 new directors who have joined the board in the last 3 years. CEO & Director Luis Martinez-Amago was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • May 08
Vantiva S.A. Appoints Katleen Vandeweyer as Independent Non-Executive Director Renewi plc announced that on 27 April 2023, Non-Executive Director, Katleen Vandeweyer, was appointed as an independent non-executive director of Vantiva S.A, formerly Technicolor SA. Reported Earnings • Mar 10
Full year 2022 earnings released Full year 2022 results: Revenue: €2.78b (down 4.2% from FY 2021). Net loss: €529.0m (loss widened 337% from FY 2021). Revenue is forecast to grow 1.3% p.a. on average during the next 3 years, compared to a 9.2% growth forecast for the Communications industry in France. Major Estimate Revision • Dec 03
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast increased from €2.52b to €2.78b. EPS estimate unchanged from -€0.07 at last update. Communications industry in France expected to see average net income growth of 3.4% next year. Consensus price target down from €0.70 to €0.55. Share price rose 2.2% to €0.23 over the past week. Major Estimate Revision • Nov 18
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast fell from €3.04b to €2.52b. EPS estimate increased from -€0.08 to -€0.07 per share. Communications industry in France expected to see average net income growth of 6.6% next year. Consensus price target down from €1.90 to €0.93. Share price fell 68% to €0.20 over the past week. Price Target Changed • Nov 16
Price target decreased to €2.35 Down from €2.83, the current price target is provided by 1 analyst. New target price is 503% above last closing price of €0.39. Stock is down 87% over the past year. The company posted a net loss per share of €0.51 last year. Price Target Changed • Oct 06
Price target decreased to €2.83 Down from €3.67, the current price target is an average from 3 analysts. New target price is 172% above last closing price of €1.04. Stock is down 65% over the past year. The company is forecast to post earnings per share of €0.01 next year compared to a net loss per share of €0.51 last year. Board Change • Jul 31
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 10 experienced directors. 1 highly experienced director. CEO & Director Richard Moat was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Jul 30
Second quarter 2022 earnings released: €0.17 loss per share (vs €0.081 loss in 2Q 2021) Second quarter 2022 results: €0.17 loss per share (down from €0.081 loss in 2Q 2021). Revenue: €845.0m (up 30% from 2Q 2021). Net loss: €40.0m (loss widened 111% from 2Q 2021). Over the next year, revenue is forecast to stay flat compared to a 8.2% growth forecast for the industry in France. Over the last 3 years on average, earnings per share has increased by 96% per year but the company’s share price has fallen by 47% per year, which means it is significantly lagging earnings. Reported Earnings • May 06
First quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2022 results: €0.16 loss per share. Revenue: €756.0m (up 6.3% from 1Q 2021). Net loss: €37.0m (loss narrowed 37% from 1Q 2021). Revenue exceeded analyst estimates by 5.7%. Earnings per share (EPS) missed analyst estimates by 9.3%. Over the next year, revenue is forecast to grow 3.8%, compared to a 6.1% growth forecast for the industry in France. Board Change • Apr 27
High number of new directors There are 5 new directors who have joined the board in the last 3 years. CEO & Director Richard Moat was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 27
Full year 2021 earnings: Revenues exceed analyst expectations Full year 2021 results: Revenue: €2.90b (down 3.6% from FY 2020). Net loss: €121.0m (loss narrowed 37% from FY 2020). Revenue exceeded analyst estimates by 2.2%. Over the next year, revenue is forecast to grow 3.2% compared to a 10% decline forecast for the industry in France. Breakeven Date Change • Jan 29
No longer forecast to breakeven The 3 analysts covering Technicolor no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of €26.2m in 2022. New consensus forecast suggests the company will make a loss of €22.3m in 2022. Reported Earnings • Nov 05
Third quarter 2021 earnings released: €0.11 loss per share The company reported a poor third quarter result with weaker earnings, revenues and control over costs. Third quarter 2021 results: Revenue: €691.0m (down 13% from 3Q 2020). Net loss: €27.0m (down 118% from profit in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has fallen by 56% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 02
Second quarter 2021 earnings released: €0.081 loss per share (vs €11.55 loss in 2Q 2020) The company reported a decent second quarter result with reduced losses and improved control over expenses, although revenues were weaker. Second quarter 2021 results: Revenue: €648.0m (down 6.6% from 2Q 2020). Net loss: €19.0m (loss narrowed 89% from 2Q 2020). Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has fallen by 56% per year, which means it is significantly lagging earnings. Price Target Changed • May 23
Price target increased to €3.37 Up from €2.80, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of €3.21. Stock is down 13% over the past year. Reported Earnings • May 13
First quarter 2021 earnings released: €0.25 loss per share (vs €8.60 loss in 1Q 2020) The company reported a decent first quarter result with reduced losses and improved control over expenses, although revenues were flat. First quarter 2021 results: Revenue: €711.0m (flat on 1Q 2020). Net loss: €59.0m (loss narrowed 55% from 1Q 2020). Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has fallen by 57% per year, which means it is significantly lagging earnings. Reported Earnings • Apr 10
Full year 2020 earnings released: €2.61 loss per share (vs €13.58 loss in FY 2019) The company reported a soft full year result with weaker revenues and control over costs, although losses reduced. Full year 2020 results: Revenue: €3.01b (down 21% from FY 2019). Net loss: €192.0m (loss narrowed 7.7% from FY 2019). Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has fallen by 55% per year, which means it is performing significantly worse than earnings. Reported Earnings • Mar 13
Full year 2020 earnings released: €0.81 loss per share (vs €13.58 loss in FY 2019) The company reported a soft full year result with weaker revenues and control over costs, although losses reduced. Full year 2020 results: Revenue: €3.01b (down 21% from FY 2019). Net loss: €192.0m (loss narrowed 7.7% from FY 2019). Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has fallen by 61% per year, which means it is performing significantly worse than earnings. Is New 90 Day High Low • Feb 13
New 90-day high: €2.05 The company is up 42% from its price of €1.44 on 13 November 2020. The French market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Entertainment industry, which is up 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €35.27 per share. Is New 90 Day High Low • Jan 13
New 90-day high: €2.00 The company is up 68% from its price of €1.19 on 14 October 2020. The French market is up 14% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Entertainment industry, which is up 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €35.27 per share. Major Estimate Revision • Nov 12
Analysts update estimates The company's losses in 2020 are expected to improve with analysts raising their consensus EPS forecasts from -€19.57 to -€1.52. No change was made to the revenue estimate which at the last update was €3.11b. The Entertainment industry in France is expected to see an average net income growth of 19% next year. The consensus price target was lowered from €3.90 to €2.60. Share price is up 18% to €1.46 over the past week. Reported Earnings • Nov 07
Third quarter 2020 earnings released: EPS €9.93 The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2020 results: Revenue: €797.0m (down 22% from 3Q 2019). Net income: €153.0m (up €185.5m from 3Q 2019). Profit margin: 19% (up from net loss in 3Q 2019). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has fallen by 75% per year, which means it is performing significantly worse than earnings. Is New 90 Day High Low • Oct 15
New 90-day low: €1.16 The company is down 54% from its price of €2.52 on 17 July 2020. The French market is down 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Entertainment industry, which is up 10.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is per share. Is New 90 Day High Low • Sep 23
New 90-day low: €2.00 The company is down 26% from its price of €2.72 on 25 June 2020. The French market is up 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Entertainment industry, which is up 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is per share. 