Announcement • Jul 31
Inspecs Group plc Announces Shaun Smith Step Down as Non-Executive Director INSPECS Group plc announced that Shaun Smith stepped down as a Non-Executive Director of the Company. Since joining the Board in 2022 he served on both the Audit and Risk and Remuneration and Nomination Committees. As a member of the Transaction Committee, Shaun Smith helped the Company to navigate the series of unsolicited approaches it received in 2025, culminating in the recommended offer from Bidco 1125 Limited which closed earlier this year. Board Change • Jul 07
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 Shaun Michael Smith was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Jun 20
INSPECS Group plc has completed a Follow-on Equity Offering in the amount of £7.503001 million. INSPECS Group plc has completed a Follow-on Equity Offering in the amount of £7.503001 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 7,503,001
Price\Range: £1
Transaction Features: Subsequent Direct Listing Announcement • Jun 18
INSPECS Group plc has filed a Follow-on Equity Offering in the amount of £7.503001 million. INSPECS Group plc has filed a Follow-on Equity Offering in the amount of £7.503001 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 7,503,001
Price\Range: £1
Transaction Features: Subsequent Direct Listing Announcement • Jun 09
INSPECS Group plc, Annual General Meeting, Jun 30, 2026 INSPECS Group plc, Annual General Meeting, Jun 30, 2026. Location: 100 liverpool street, ec2m 2at, london United Kingdom New Risk • May 28
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: Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Significant insider selling over the past 3 months (UK£706k sold). Reported Earnings • May 14
Full year 2025 earnings released: UK£0.094 loss per share (vs UK£0.045 loss in FY 2024) Full year 2025 results: UK£0.094 loss per share. Revenue: UK£191.7m (down 3.3% from FY 2024). Net loss: UK£3.29m (loss narrowed 29% from FY 2024). Revenue is forecast to grow 2.9% p.a. on average during the next 2 years, compared to a 5.9% growth forecast for the Medical Equipment industry in the United Kingdom. New Risk • Apr 06
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: Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Significant insider selling over the past 3 months (UK£706k sold). Board Change • Jan 02
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 2 highly experienced directors. Independent Non-Executive Director Shaun Michael Smith was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Jan 01
Inspecs Group plc Announces Board and Management Changes Inspecs Group plc announces an update to its Board and Executive composition in light of the recommended acquisition of Inspecs by Bidco 1125 Limited, a newly formed company indirectly owned by Luke Johnson and Ian Livingstone. On May 29, 2025, it was announced that Robin Totterman, Executive Director, would step down from the Board on December 31, 2025, with Christopher Hancock, the Company's Senior Independent Director, becoming Interim Chair until the appointment of a new Chair. Given the Offer, and his continued involvement in support of that process, Robin will continue to be a member of the Inspecs Board until the conclusion of the offer period. On September 18, 2025, it was also announced that Andrea Davis would be appointed as Non-Executive Chair on or before December 31, 2025. On account of the Offer, Andrea will no longer assume the role as previously announced, instead Christopher Hancock will remain as Interim Chair. However, Andrea has agreed to make herself available to join the Board, if required, should the Offer lapse. New Risk • Dec 21
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: UK£103k This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. 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£103k sold). Market cap is less than US$100m (UK£72.2m market cap, or US$96.5m). New Risk • Dec 11
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of British stocks, typically moving 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. This is currently the only risk that has been identified for the company. Announcement • Dec 10
Luke Johnson and Ian Livingstone entered into agreement to acquire 94.14% stake in INSPECS Group plc (AIM:SPEC) from a group of shareholders for approximately £80.3 million. Luke Johnson and Ian Livingstone entered into agreement to acquire 94.14% stake in INSPECS Group plc (AIM:SPEC) from a group of shareholders for approximately £80.3 million on December 10, 2025. A cash consideration of £0.84 per share will be paid by the buyer. The transaction is subject to approval by INSPECS Group plc shareholders, third party and regulatory approval and approval by court. The transaction has been unanimously approved by the board of INSPECS Group plc. The transaction is expected to close on June 30, 2026.
Peel Hunt LLP acted as financial advisor for INSPECS Group plc. Macfarlanes LLP acted as legal advisor for INSPECS Group plc. Henrik Persson, Matt Goode, Fergus Sullivan and Finn Gordon of Cavendish acted as financial advisor and Fladgate LLP acted as legal advisor to Luke Johnson and Ian Livingstone. Andrew Clark, Michael Nicholson and George Sellar of Peel Hunt LLP acted as financial advisor and Macfarlanes LLP acted as legal advisor to INSPECS Group plc. Announcement • Nov 22
INSPECS Group plc Provides Earnings Guidance for the Year Ending December 31, 2025 INSPECS Group plc provided earnings guidance for the year ending December 31, 2025. As a result the Group now expects to report revenue of approximately £191m for the year ending 31 December 2025. Reported Earnings • Sep 24
First half 2025 earnings released: EPS: UK£0.003 (vs UK£0.003 in 1H 2024) First half 2025 results: EPS: UK£0.003 (in line with 1H 2024). Revenue: UK£97.6m (down 3.0% from 1H 2024). Net income: UK£267.0k (down 7.3% from 1H 2024). Profit margin: 0.3% (in line with 1H 2024). Revenue is forecast to grow 1.8% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Medical Equipment industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 35% per year, which means it is significantly lagging earnings. Announcement • Sep 20
Inspecs Group plc Appoints Andrea Davis as Non-Executive Chair of the Company, Effective on or Before 31 December 2025 INSPECS Group plc announced the appointment of Andrea Davis as Non-Executive Chair of the Company. The appointment will take effect on or before 31 December 2025. Andrea has been appointed following the conclusion of a comprehensive and competitive recruitment process, led by an external executive search firm. Throughout her career, Andrea has chaired and advised a diverse range of assets, across consumer and manufacturing and other sectors, predominately in small to mid-cap companies across continental Europe. Andrea is currently on the boards of Modulr and William Jackson Food Group and, up until recently, was the Managing Director of European Private Equity at Investcorp. Spending just over a decade in this role, Andrea was responsible for the post acquisition management and oversight of the private equity portfolio of companies across EMEA. Prior to Investcorp, Andrea was a Managing Director at TDX Group, a data and technology business, where she led the company's strategic initiatives and revenue growth. This ultimately led to her appointment as CFO of TDX Group in 2013, when she led the Company's sale process to Equifax for £200m in 2014. The names of all companies and partnerships of which Andrea Jayne Davis, aged 60, has been a director or partner at any time in the previous five years are set out below: Current Directorships Past Directorships (Last 5 Years) Dauphine Holdings (UK) Limited Safety Topco Limited Triplog Holdings Limited Greengage & Co. Limited Abax Invest AS POC Sweden AB Abax Midco AS Abax Group AS Corneliani S.p. A Abax AS Abital S.R.L Clinic Holdings (UK) Limited Symbol S.R.L Cloudcare Topco Limited Dainese S.p. A SPG Prints Holding Limited Print Holdings B.V Corneliani S.R.L. Corneliani S.p. A CEME S.p. A Sarti Holding (UK) Limited SecureLink Holdco B.V. Corneliani Holdings (UK) Limited SecureLink Midco B.V. Virtus Holdings UK Ltd. SecureLink Bidco B.V. Innovation Holdco Limited SecureLink Acquisition B.V. Muscles UK Holdings Limited Georg Jensen A/S Sanos Group ApS Georg Jensen Investment A/S Sanos Holdco ApS Investcorp Securities Limited Sanos Midco ApS Investcorp International Limited Spring Investco Limited Investcorp Europe Holdings Limited Sanos Holding A/S SecureLink Holdco Ibis Topco Limited Crops Holdings (UK) Limited Ibis Midco Limited Cloudcare UK Holdings Limited Investis Digital Topco Limited Moonlight Holdings (UK) Limited Investis Digital Limited SEC Newgate S.P. A SEC Newgate Global Strategy S.p. A William Jackson Foods Limited Modulr FS Ltd. Zacco A/S Orca Midco Ltd. Orca Holdings Denmark ApSPOC Hold II AB. As a result of her role with Investcorp, Andrea was previously a director of Corneliani S.R.L. ("Corneliani"). The directors of Corneliani instigated an Italian insolvency process (Concordato Preventivo) during 2020 when it became clear that the business could not continue to trade due to a lack of secure funding during the COVID-19 pandemic. Corneliani subsequently entered liquidation on 11 March 2021. New Risk • Jul 31
New major risk - Revenue and earnings growth Earnings have declined by 7.1% 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 Risk Earnings have declined by 7.1% per year over the past 5 years. Minor Risk Market cap is less than US$100m (UK£43.2m market cap, or US$57.2m). Announcement • Jul 31
INSPECS Group plc to Report First Half, 2025 Results on Sep 18, 2025 INSPECS Group plc announced that they will report first half, 2025 results on Sep 18, 2025 Major Estimate Revision • Jun 04
Consensus EPS estimates fall by 12% The consensus outlook for fiscal year 2025 has been updated. 2025 expected loss increased from -UK£0.011 to -UK£0.012 per share. Revenue forecast unchanged at UK£201.2m. Medical Equipment industry in the United Kingdom expected to see average net income growth of 24% next year. Consensus price target up from UK£0.59 to UK£0.60. Share price rose 6.5% to UK£0.49 over the past week. Announcement • Jun 03
INSPECS Group plc Provides Earnings Guidance for the Full Year 2025 INSPECS Group plc provided earnings guidance for the full year 2025. For the period, Company expects revenue to be broadly flat versus 2024. Announcement • May 14
Inspecs Group plc Response to requisition of a General Meeting On May 14, 2025, Inspecs Group plc announced that it received on May 13, 2025 a requisition notice seeking to convene a annual general meeting to be held on June 3, 2025, from Downing LLP ("Downing") (via Seguro Nominees Limited) requesting that shareholders of the Company vote on ordinary resolutions for the removal of Robin Totterman as a director of the Company; and to the appointment of Rocco Benetton as a director of the Company holding the role of Executive Chairman. The Company’s Board unanimously rejects these proposals. Announcement • Apr 16
Inspecs Group plc Announces Not to Stand Re-Election of Hugo Adams as Non-Executive Director INSPECS Group plc announced that Hugo Adams, Non-Executive Director, has informed the Board of his decision not to stand for re-election at the Company's upcoming Annual General Meeting. This decision follows his recent appointment as Chief Executive Officer of Kelpi, a sustainable materials innovation company. Further updates regarding Board composition will be made in due course. Reported Earnings • Apr 11
Full year 2024 earnings released: UK£0.045 loss per share (vs UK£0.01 loss in FY 2023) Full year 2024 results: UK£0.045 loss per share (further deteriorated from UK£0.01 loss in FY 2023). Revenue: UK£198.3m (down 2.5% from FY 2023). Net loss: UK£4.61m (loss widened 362% from FY 2023). Revenue is forecast to grow 3.9% p.a. on average during the next 3 years, compared to a 5.8% growth forecast for the Medical Equipment industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 52% per year, which means it is significantly lagging earnings. Announcement • Apr 11
INSPECS Group plc, Annual General Meeting, Jun 03, 2025 INSPECS Group plc, Annual General Meeting, Jun 03, 2025. New Risk • Apr 04
New major risk - Revenue and earnings growth Earnings have declined by 26% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 26% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Share price has been volatile over the past 3 months (8.1% average weekly change). Market cap is less than US$100m (UK£41.7m market cap, or US$54.2m). New Risk • Mar 30
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: 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 (UK£306k net loss in 2 years). Market cap is less than US$100m (UK£51.3m market cap, or US$66.5m). New Risk • Mar 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 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 Currently unprofitable and not forecast to become profitable over next 2 years (UK£306k net loss in 2 years). Share price has been volatile over the past 3 months (7.0% average weekly change). Market cap is less than US$100m (UK£49.6m market cap, or US$63.8m). Announcement • Jan 30
INSPECS Group plc to Report Fiscal Year 2024 Final Results on Apr 10, 2025 INSPECS Group plc announced that they will report fiscal year 2024 final results at 8:00 AM, GMT Standard Time on Apr 10, 2025 Announcement • Dec 20
Inspecs Group plc Announces Step Down of Robin Totterman as Executive Chair of the Board INSPECS Group plc announced that Robin Totterman has decided that he intends to step down as Executive Chair of the Board with effect from the conclusion of the Company's AGM in 2025. The Board has, therefore, agreed to commence a search for a new non-executive and independent director to assume the role of Chair when Robin Totterman steps down. Announcement • Dec 10
Inspecs Group plc Provides Earnings Guidance for the Year Ending 31 December 2024 Inspecs Group plc provided earnings guidance for the year ending 31 December 2024. For the year, the Board now expects to report revenue of c.£197 million (c.£202 million on a constant currency exchange rate basis). Major Estimate Revision • Dec 10
Consensus EPS estimates fall by 339% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from UK£209.3m to UK£196.5m. Losses expected to increase from UK£0.0041 per share to UK£0.018. Medical Equipment industry in the United Kingdom expected to see average net income growth of 23% next year. Consensus price target down from UK£1.02 to UK£0.60. Share price fell 12% to UK£0.43 over the past week. New Risk • Dec 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: UK£4.1m Forecast net loss in 2 years: UK£701k This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (UK£701k net loss in 2 years). Market cap is less than US$100m (UK£44.2m market cap, or US$56.5m). Major Estimate Revision • Sep 17
Consensus EPS estimates fall by 36% The consensus outlook for fiscal year 2024 has been updated. 2024 expected loss increased from -UK£0.0029 to -UK£0.004 per share. Revenue forecast unchanged at UK£205.0m. Medical Equipment industry in the United Kingdom expected to see average net income growth of 32% next year. Consensus price target up from UK£0.98 to UK£1.00. Share price rose 12% to UK£0.58 over the past week. Announcement • Aug 27
INSPECS Group plc to Report First Half, 2024 Results on Sep 10, 2024 INSPECS Group plc announced that they will report first half, 2024 results on Sep 10, 2024 Announcement • May 17
INSPECS Group plc, Annual General Meeting, Jun 06, 2024 INSPECS Group plc, Annual General Meeting, Jun 06, 2024. Location: 7 10 kelso place, somerset, ba1 3au, bath United Kingdom Reported Earnings • Apr 17
Full year 2023 earnings: EPS exceeds analyst expectations Full year 2023 results: UK£0.01 loss per share (improved from UK£0.064 loss in FY 2022). Revenue: UK£203.3m (down 1.1% from FY 2022). Net loss: UK£997.0k (loss narrowed 85% from FY 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 77%. Revenue is forecast to grow 3.9% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Medical Equipment industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has fallen by 50% per year, which means it is significantly lagging earnings. New Risk • Mar 25
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2023. 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: Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Currently unprofitable and not forecast to become profitable over next 2 years (UK£454k net loss in 2 years). Share price has been volatile over the past 3 months (9.9% average weekly change). Market cap is less than US$100m (UK£53.9m market cap, or US$67.9m). Announcement • Jan 29
INSPECS Group plc to Report Fiscal Year 2023 Results on Apr 17, 2024 INSPECS Group plc announced that they will report fiscal year 2023 results on Apr 17, 2024 New Risk • Jan 29
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: UK£1.2m Forecast net loss in 2 years: UK£455k 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. This is currently the only risk that has been identified for the company. Buy Or Sell Opportunity • Jan 22
Now 21% undervalued Over the last 90 days, the stock has risen 15% to UK£0.90. The fair value is estimated to be UK£1.14, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 49% over the last 3 years. Earnings per share has grown by 27%. Buying Opportunity • Oct 27
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 44%. The fair value is estimated to be UK£0.89, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 49% over the last 3 years. Earnings per share has grown by 27%. New Risk • Oct 19
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: UK£82.4m (US$100.0m) 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. This is currently the only risk that has been identified for the company. Reported Earnings • Sep 08
First half 2023 earnings released: EPS: UK£0.02 (vs UK£0.022 loss in 1H 2022) First half 2023 results: EPS: UK£0.02 (up from UK£0.022 loss in 1H 2022). Revenue: UK£111.2m (up 1.6% from 1H 2022). Net income: UK£2.08m (up UK£4.28m from 1H 2022). Profit margin: 1.9% (up from net loss in 1H 2022). Revenue is expected to decline by 1.4% p.a. on average during the next 3 years, while revenues in the Medical Equipment industry in the United Kingdom are expected to grow by 6.3%. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has fallen by 24% per year, which means it is significantly lagging earnings. Announcement • Jul 29
INSPECS Group plc to Report First Half, 2023 Results on Sep 07, 2023 INSPECS Group plc announced that they will report first half, 2023 results on Sep 07, 2023 Buying Opportunity • Jul 03
Now 24% undervalued Over the last 90 days, the stock is up 5.8%. The fair value is estimated to be UK£1.32, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 59% over the last 3 years. Meanwhile, the company became loss making. Announcement • May 23
INSPECS Group plc, Annual General Meeting, Jun 15, 2023 INSPECS Group plc, Annual General Meeting, Jun 15, 2023, at 10:00 Coordinated Universal Time. Location: Kelso Place Somerset BA1 3AU Bath Avon United Kingdom Reported Earnings • Apr 28
Full year 2022 earnings: EPS and revenues exceed analyst expectations Full year 2022 results: US$0.08 loss per share (further deteriorated from US$0.054 loss in FY 2021). Revenue: US$248.6m (flat on FY 2021). Net loss: US$7.82m (loss widened 44% from FY 2021). Revenue exceeded analyst estimates by 1.0%. Earnings per share (EPS) also surpassed analyst estimates by 23%. Revenue is forecast to grow 3.0% p.a. on average during the next 2 years, compared to a 6.1% growth forecast for the Medical Equipment industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings. Board Change • Dec 06
Less than half of directors are independent Following Non-Executive Director Shaun Michael Smith's arrival on 01 December 2022, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 5 non-independent directors. Independent Non-Executive Director Angela Farrugia was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Nov 09
Founder recently bought UK£400k worth of stock On the 4th of November, Robin Totterman bought around 850k shares on-market at roughly UK£0.47 per share. This transaction amounted to 4.8% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Robin has been a buyer over the last 12 months, purchasing a net total of UK£600k worth in shares. Buying Opportunity • Oct 27
Now 26% undervalued after recent price drop Over the last 90 days, the stock is down 79%. The fair value is estimated to be UK£0.67, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 64% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Aug 19
First half 2022 earnings released: US$0.027 loss per share (vs US$0.038 loss in 1H 2021) First half 2022 results: US$0.027 loss per share (up from US$0.038 loss in 1H 2021). Revenue: US$138.4m (up 10.0% from 1H 2021). Net loss: US$2.78m (loss narrowed 28% from 1H 2021). Reported Earnings • Jun 30
Full year 2021 earnings released Full year 2021 results: Revenue: US$246.5m (up 420% from FY 2020). Net loss: US$5.44m (loss narrowed 39% from FY 2020). Over the next year, revenue is forecast to grow 4.4%, compared to a 12% growth forecast for the industry in the United Kingdom. Buying Opportunity • Apr 22
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 9.5%. The fair value is estimated to be UK£4.52, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 229% over the last year. Meanwhile, the company became loss making. Buying Opportunity • Mar 07
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 7.9%. The fair value is estimated to be US$4.42, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 229% over the last year. The company became loss making over the last 3 years. Reported Earnings • Sep 10
First half 2021 earnings released: US$0.031 loss per share (vs US$0.12 loss in 1H 2020) The company reported a solid first half result with reduced losses, improved revenues and improved control over expenses. First half 2021 results: Revenue: US$125.7m (up US$109.0m from 1H 2020). Net loss: US$3.16m (loss narrowed 58% from 1H 2020). Recent Insider Transactions • Jun 24
Founder recently bought UK£106k worth of stock On the 18th of June, Robin Totterman bought around 30k shares on-market at roughly UK£3.50 per share. This was the largest purchase by an insider in the last 3 months. This was Robin's only on-market trade for the last 12 months. Reported Earnings • Jun 22
Full year 2020 earnings released: US$0.13 loss per share (vs US$17.73 profit in FY 2019) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2020 results: Revenue: US$47.4m (down 23% from FY 2019). Net loss: US$8.91m (down 238% from profit in FY 2019). Is New 90 Day High Low • Jan 18
New 90-day high: UK£3.35 The company is up 89% from its price of UK£1.78 on 20 October 2020. The British market is up 15% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Medical Equipment industry, which is up 7.0% over the same period. Is New 90 Day High Low • Dec 12
New 90-day high: UK£2.78 The company is up 14% from its price of UK£2.43 on 11 September 2020. The British market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Medical Equipment industry, which is flat over the same period. Is New 90 Day High Low • Nov 20
New 90-day high: UK£2.70 The company is up 13% from its price of UK£2.40 on 21 August 2020. The British market is up 6.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Medical Equipment industry, which is down 1.0% over the same period. Is New 90 Day High Low • Oct 06
New 90-day low: UK£1.91 The company is down 2.0% from its price of UK£1.95 on 08 July 2020. The British market is also down 2.0% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it outperformed the Medical Equipment industry, which is down 3.0% over the same period. Reported Earnings • Sep 23
First half earnings released Over the last 12 months the company has reported total losses of US$5.75m, with earnings decreasing by US$12.9m from the prior year. Total revenue was US$47.6m over the last 12 months, down 22% from the prior year.