Announcement • Nov 19
Bigblu Broadband plc Announces Its Intention to Seek Shareholder Approval to Cancel the Admission of Its Shares to Trading on AIM Bigblu Broadband plc announced its intention to seek shareholder approval to cancel the admission of its shares to trading on AIM. New Risk • Oct 09
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 7.1% 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 Risks Less than 1 year of cash runway based on free cash flow trend (-UK£2.6m free cash flow). Earnings are forecast to decline by an average of 14% per year for the foreseeable future. Minor Risks Share price has been volatile over the past 3 months (7.1% average weekly change). Revenue is less than US$5m (UK£774k revenue, or US$1.0m). Market cap is less than US$100m (UK£8.94m market cap, or US$11.9m). Reported Earnings • Sep 03
First half 2025 earnings released: UK£0.017 loss per share (vs UK£0.022 loss in 1H 2024) First half 2025 results: UK£0.017 loss per share (improved from UK£0.022 loss in 1H 2024). Net loss: UK£850.0k (loss narrowed 34% from 1H 2024). Revenue is expected to decline by 3.1% p.a. on average during the next 2 years, while revenues in the Telecom industry in Europe are expected to grow by 2.1%. Over the last 3 years on average, earnings per share has fallen by 51% per year but the company’s share price has only fallen by 25% per year, which means it has not declined as severely as earnings. New Risk • Aug 31
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 14% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-UK£2.6m free cash flow). Earnings are forecast to decline by an average of 14% per year for the foreseeable future. Minor Risks Revenue is less than US$5m (UK£774k revenue, or US$1.0m). Market cap is less than US$100m (UK£8.72m market cap, or US$11.8m). New Risk • Aug 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£3.1m Forecast net loss in 2 years: UK£300k This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-UK£6.7m free cash flow). Revenue is less than US$1m (UK£696k revenue, or US$937k). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (UK£300k net loss in 2 years). Market cap is less than US$100m (UK£8.72m market cap, or US$11.7m). New Risk • Jun 03
New major risk - Revenue size The company makes less than US$1m in revenue. Total revenue: UK£696k (US$943k) This is considered a major risk. Companies with a small amount of revenue are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-UK£6.7m free cash flow). Revenue is less than US$1m (UK£696k revenue, or US$943k). Minor Risks Share price has been volatile over the past 3 months (9.2% average weekly change). Significant insider selling over the past 3 months (UK£105k sold). Market cap is less than US$100m (UK£9.16m market cap, or US$12.4m). Reported Earnings • Jun 03
Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2024 results: UK£0.054 loss per share (further deteriorated from UK£0.025 loss in FY 2023). Net loss: UK£3.14m (loss widened 118% from FY 2023). Revenue exceeded analyst estimates by 74%. Earnings per share (EPS) missed analyst estimates by 7.7%. Revenue is expected to decline by 8.0% p.a. on average during the next 2 years, while revenues in the Telecom industry in Europe are expected to grow by 2.3%. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has fallen by 31% per year, which means it is performing significantly worse than earnings. Announcement • Jun 03
Bigblu Broadband plc, Annual General Meeting, Jun 30, 2025 Bigblu Broadband plc, Annual General Meeting, Jun 30, 2025. New Risk • Mar 18
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended May 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 May 2024 fiscal period end). Share price has been volatile over the past 3 months (7.4% average weekly change). Market cap is less than US$100m (UK£19.1m market cap, or US$24.8m). Announcement • Dec 25
Salter Brothers Asset Management Pty Ltd acquired Skymesh Pty Ltd from Bigblu Broadband plc (AIM:BBB) for AUD 50.2 million. Salter Brothers Asset Management Pty Ltd agreed to acquire Skymesh Pty Ltd from Bigblu Broadband plc (AIM:BBB) for AUD 50.2 million on November 29, 2024. A cash consideration capped at AUD 30 million will be paid by Salter Brothers Asset Management Pty Ltd on the Completion Date. The consideration consists of 13.32 million common equity of Salter Brothers Asset Management Pty Ltd to be issued for common equity of Skymesh Pty Ltd. Salter Brothers Asset Management Pty Ltd will also pay an earnout/contingent payment of AUD 6.88 million cash on the first anniversary of the Completion Date.
The transaction is subject to approval of offer by target shareholders. The expected completion of the transaction is December 20, 2024.
As of December 20, 2024, the transaction has been approved by the target shareholders and the completion of the transaction is expected to occur in the next few days.
Salter Brothers Asset Management Pty Ltd completed the acquisition of Skymesh Pty Ltd from Bigblu Broadband plc (AIM:BBB) on Dec 23, 2024. All conditions have been fulfilled. Announcement • Dec 03
Salter Brothers Asset Management Pty Ltd agreed to acquire Skymesh Pty Ltd from Bigblu Broadband plc (AIM:BBB) for AUD 50.2 million. Salter Brothers Asset Management Pty Ltd agreed to acquire Skymesh Pty Ltd from Bigblu Broadband plc (AIM:BBB) for AUD 50.2 million on November 29, 2024. A cash consideration capped at AUD 30 million will be paid by Salter Brothers Asset Management Pty Ltd on the Completion Date. The consideration consists of 13.32 million common equity of Salter Brothers Asset Management Pty Ltd to be issued for common equity of Skymesh Pty Ltd. Salter Brothers Asset Management Pty Ltd will also pay an earnout/contingent payment of AUD 6.88 million cash on the first anniversary of the Completion Date.
The transaction is subject to approval of offer by target shareholders. The expected completion of the transaction is December 20, 2024. New Risk • Dec 02
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: -UK£526k 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 (-UK£526k free cash flow). Share price has been highly volatile over the past 3 months (15% average weekly change). Minor Risk Market cap is less than US$100m (UK£24.1m market cap, or US$30.7m). New Risk • Nov 06
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 14% 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 Risk Share price has been highly volatile over the past 3 months (14% average weekly change). Minor Risk Market cap is less than US$100m (UK£22.1m market cap, or US$28.7m). Reported Earnings • Sep 01
First half 2024 earnings released: UK£0.022 loss per share (vs UK£0.033 loss in 1H 2023) First half 2024 results: UK£0.022 loss per share (improved from UK£0.033 loss in 1H 2023). Revenue: UK£11.2m (down 25% from 1H 2023). Net loss: UK£1.28m (loss narrowed 33% from 1H 2023). Revenue is forecast to grow 1.5% p.a. on average during the next 2 years, compared to a 2.0% growth forecast for the Telecom industry in Europe. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has fallen by 39% per year, which means it is performing significantly worse than earnings. Announcement • May 22
Norwegian Management Team and Andrew Wal agreed to acquire Brdy AS and Brdy Nordics AS from Bigblu Broadband plc (AIM:BBB) in a management buyout transaction for NOR 1.36 million. Norwegian Management Team and Andrew Wal agreed to acquire Brdy AS and Brdy Nordics AS from Bigblu Broadband plc (AIM:BBB) in a management buyout transaction for NOR 1.36 million May 20, 2024. In addition, Bigblu Broadband will be entitled to a Contingent Consideration as follows: If the Brdy Group (a) in the period between 17th May 2024 and 16th May 2025, achieves an Adjusted EBITDA of five hundred thousand pounds (£500,000) or more, Bigblu Broadband will receive twenty (20) percent of the Adjusted EBITDA for that period, within six months of the period (b) in the period between 17th May 2025 and 16th May 2026, achieves an Adjusted EBITDA of one million pounds (£1,000,000) or more, Bigblu Broadband will receive twenty (20) percent of the Adjusted EBITDA for that period, within six months of the period. A Deferred Consideration is also payable of up to £0.2 million on the return, or release of the deposit held with networks, or a Trigger Event. In addition,onthe occurrence of a Trigger Event, including a listing, an additional Consideration shall be payable of 20% of the proceeds less costs. For the financial year ended November 30, 2023 the Brdy Group delivered total revenue of NOR 52.84 million, EBIT of NOR 42.6 million. Cavendish Capital Markets Limited acted as an advisor to Bigblu Broadband. Reported Earnings • May 21
Full year 2023 earnings released: UK£0.024 loss per share (vs UK£0.048 loss in FY 2022) Full year 2023 results: UK£0.024 loss per share (improved from UK£0.048 loss in FY 2022). Revenue: UK£25.9m (down 17% from FY 2022). Net loss: UK£1.44m (loss narrowed 49% from FY 2022). Revenue is expected to decline by 3.4% p.a. on average during the next 2 years, while revenues in the Telecom industry in Europe are expected to grow by 1.9%. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 31% per year, which means it is significantly lagging earnings. New Risk • Mar 17
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended May 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 May 2023 fiscal period end). Share price has been volatile over the past 3 months (7.5% average weekly change). Market cap is less than US$100m (UK£24.6m market cap, or US$31.3m). Reported Earnings • Sep 01
First half 2023 earnings released: UK£0.033 loss per share (vs UK£0.009 loss in 1H 2022) First half 2023 results: UK£0.033 loss per share (further deteriorated from UK£0.009 loss in 1H 2022). Revenue: UK£15.0m (flat on 1H 2022). Net loss: UK£1.91m (loss widened 273% from 1H 2022). Revenue is forecast to grow 8.7% p.a. on average during the next 2 years, compared to a 2.2% growth forecast for the Telecom industry in Europe. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 21% per year, which means it is significantly lagging earnings. New Risk • Aug 30
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: -UK£2.8m 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: Minor Risks Less than 1 year of cash runway based on current free cash flow (-UK£2.8m). Market cap is less than US$100m (UK£24.9m market cap, or US$31.7m). Reported Earnings • Mar 20
Full year 2022 earnings: EPS misses analyst expectations Full year 2022 results: UK£0.048 loss per share (further deteriorated from UK£0.028 loss in FY 2021). Revenue: UK£31.2m (up 15% from FY 2021). Net loss: UK£2.81m (loss widened 74% from FY 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 2.2% growth forecast for the Telecom industry in Europe. Over the last 3 years on average, earnings per share has fallen by 3% per year whereas the company’s share price has remained flat. Breakeven Date Change • Nov 30
Forecast breakeven date pushed back to 2023 The analyst covering Bigblu Broadband previously expected the company to break even in 2022. New forecast suggests the company will make a profit of UK£2.20m in 2023. Average annual earnings growth of 151% is required to achieve expected profit on schedule. 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. 4 non-independent directors. Independent Non-Executive Chairman Mike Tobin was the last independent director to join the board, commencing their role in 2015. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Sep 01
First half 2022 earnings released: UK£0.009 loss per share (vs UK£0.005 loss in 1H 2021) First half 2022 results: UK£0.009 loss per share (down from UK£0.005 loss in 1H 2021). Revenue: UK£14.9m (up 14% from 1H 2021). Net loss: UK£513.0k (loss widened 74% from 1H 2021). Over the next year, revenue is forecast to grow 16%, compared to a 3.5% growth forecast for the Telecom industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has fallen by 22% per year, which means it is significantly lagging earnings. Price Target Changed • Apr 27
Price target decreased to UK£1.00 Down from UK£1.78, the current price target is provided by 1 analyst. New target price is 42% above last closing price of UK£0.70. Stock is down 44% over the past year. The company is forecast to post earnings per share of UK£0.036 next year compared to a net loss per share of UK£0.028 last year. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 4 non-independent directors. Independent Non-Executive Chairman Mike Tobin was the last independent director to join the board, commencing their role in 2015. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Breakeven Date Change • Nov 30
Forecast breakeven date pushed back to 2022 The analyst covering Bigblu Broadband previously expected the company to break even in 2021. New forecast suggests the company will make a profit of UK£12.3m in 2022. Average annual earnings growth of 63% is required to achieve expected profit on schedule. Recent Insider Transactions Derivative • Oct 28
CEO & Executive Director exercised options to buy UK£195k worth of stock. On the 25th of October, Andrew Walwyn exercised options to buy 233k shares at a strike price of around UK£0.34, costing a total of UK£79k. This transaction amounted to 7.7% of their direct individual holding at the time of the trade. Since December 2020, Andrew's direct individual holding has increased from 2.97m shares to 3.01m. Company insiders have collectively bought UK£364k more than they sold, via options and on-market transactions, in the last 12 months. Recent Insider Transactions • Oct 07
CEO & Executive Director recently bought UK£55k worth of stock On the 29th of September, Andrew Walwyn bought around 44k shares on-market at roughly UK£1.24 per share. This was the largest purchase by an insider in the last 3 months. This was Andrew's only on-market trade for the last 12 months. Recent Insider Transactions Derivative • Oct 02
Independent Non-Executive Chairman exercised options to buy UK£91k worth of stock. On the 30th of September, Michael Tobin exercised options to buy 93k shares at a strike price of around UK£1.14, costing a total of UK£107k. This transaction amounted to 25% of their direct individual holding at the time of the trade. Since December 2020, Michael's direct individual holding has increased from 244.55k shares to 371.17k. Company insiders have collectively bought UK£228k more than they sold, via options and on-market transactions, in the last 12 months. Recent Insider Transactions Derivative • Sep 24
Independent Non-Executive Chairman exercised options to buy UK£167k worth of stock. On the 21st of September, Michael Tobin exercised options to buy 133k shares at a strike price of around UK£0.79, costing a total of UK£105k. This transaction amounted to 56% of their direct individual holding at the time of the trade. Since December 2020, Michael has owned 244.55k shares directly. Company insiders have collectively bought UK£121k more than they sold, via options and on-market transactions, in the last 12 months. Announcement • Jun 12
Northleaf Capital Partners Ltd. completed the acquisition of unknown majority stakes in QCL Holdings Limited from Bigblu Broadband plc (AIM:BBB), Harwood Capital LLP, Steven Jagger and Paul Howard. Northleaf Capital Partners Ltd. entered into a Share Sale Agreement to acquire QCL Holdings Limited from Bigblu Broadband plc (AIM:BBB), Harwood Capital LLP, Steven Jagger and Paul Howard for £92.1 million on April 23, 2021. Under the terms, £73.7 million will be paid in cash, out of which £55.7 million cash consideration will be paid on completion and deferred contingent cash consideration of up to £18.0 million subject to certain performance conditions being met. In addition, £18.4 million will be paid in Loan Notes including £16.6 million on completion and £1.8 million of deferred contingent consideration. Under the terms of the Share Sale Agreement, Bigblu Broadband has also agreed to pay Northleaf Capital a break fee of £0.5 million in the event that the condition relating to shareholder approval is not satisfied. Under the terms, total cash consideration of up to £41.1 million of which £31.1 million gross has now been received, with a further £10.1 million as deferred contingent consideration that is subject to certain performance conditions being met by no later than 31 March 2022, or in certain circumstances, May 31, 2022 and £5.6 million being satisfied in loan notes on completion (with an option to convert partially into equity) and an additional award of loan notes (with an option to convert partially into equity) of up to £1.8 million subject to the conditions of the deferred contingent consideration also being met. QCL Holdings Limited management team, as well as Bigblu Broadband and Harwood Capital have retained minority stakes in the QCL Holdings Limited. Marc Milmo, Simon Hicks, Charlie Beeson, Tim Redfern and Richard Chambers of FinnCap Ltd acted as the financial advisors to Bigblu Broadband.
For the year ended 30 November 2020, Quickline generated audited revenue of approximately £3.7 million, audited adjusted EBITDA of approximately £1.5 million and the audited net assets of Quickline were approximately £6.1 million. The transaction is conditional upon the approval of majority of Shareholders of Bigblu Broadband and regulatory approvals. AS of June 10, 2021 all conditions fulfilled. Rupert Robson, Tom Roberts, Michael Lord and Gabriele Martini of Torch Partners acted as financial advisor for Bigblu. DLA Piper France LLP acted as legal advisor to Northleaf Capital Partners Ltd.
Northleaf Capital Partners Ltd. completed the acquisition of unknown majority stakes in QCL Holdings Limited from Bigblu Broadband plc (AIM:BBB), Harwood Capital LLP, Steven Jagger and Paul Howard on June 10, 2021. Is New 90 Day High Low • Jan 11
New 90-day high: UK£1.14 The company is up 44% from its price of UK£0.79 on 13 October 2020. The British market is up 15% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Telecom industry, which is up 23% over the same period. Price Target Changed • Dec 07
Price target raised to UK£1.90 Up from UK£1.78, the current price target is provided by 1 analyst. The new target price is 86% above the current share price of UK£1.02. As of last close, the stock is up 2.1% over the past year. Is New 90 Day High Low • Oct 26
New 90-day high: UK£1.08 The company is up 14% from its price of UK£0.94 on 28 July 2020. The British market is down 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Telecom industry, which is up 2.0% over the same period. Is New 90 Day High Low • Oct 08
New 90-day low: UK£0.82 The company is down 12% from its price of UK£0.94 on 09 July 2020. The British market is down 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Telecom industry, which is up 1.0% over the same period. Announcement • Sep 26
Bigblu Broadband plc Announces Stepping Down of Simon Clifton as Non-Executive Director Bigblu Broadband plc announced that Non-Executive Director Simon Clifton has decided to step down from his role post completion of the Disposal.