GCIHybridan Small Cap Feast: 23/09/2024
* A corporate client of Hybridan LLP
** Arranged by type of listing and date of announcement
*** Alphabetically arranged
**** Potential means Intention to Float (ITF) has been announced, or it is a rumour
Dish of the day
Whats baking in the oven?
Potential**** Initial Public Offerings:
ITF announced:
GenIP aims to list on the AIM market on 2 October 2024. It is targeting to raise £1.5m and anticipating a £6.5m market cap. GenIP is a portfolio company of London-based intellectual property investor Tekcapital PLC (TEK.L). GenIP is using Generative Artificial Intelligence (GenAI), whose mission is to empower organisations to better evaluate and commercialise technology discoveries through two distinct, yet complementary, services namely; providing bespoke enhanced research reports assessing the market potential for new technological innovations by using the Company's GenAI driven proprietary software, InventionEvaluator; and providing executive recruitment services to match technology organisations with experienced executives and business leaders using the Company's GenAI-driven proprietary software, Vortechs.
Following its spin-off from Marlowe PLC, Optima Health plans to IPO onto AIM which is expected on Thursday 26 September. Optima is a provider of technology enabled corporate health and wellbeing solutions in the occupational health sector. In the 12 months ended 31 March 2024, the Group reported revenue of £110.9 million (FY23: £115.3 million) and adjusted EBITDA of £18.0 million (FY23: £21.0 million). Anticipated market capitalisation on Admission will be approximately £190 million.
Banquet Buffet***
A provider of data and technology for sports, fitness and wellness organisations to optimise operational and investment decisions announces a significant expansion of its agreement with U.S. Soccer. An Insight Solutions project will see 4GLOBAL provide the data, platform and strategic insights to enable U.S. Soccer to better understand soccer facilities in the United States. The insights provided will be used by U.S. Soccer to inform investment and legacy planning with a view to increasing grassroots participation and growing the game of soccer nationwide. The expansion builds on the initial Insight Labs project completed earlier this year, which covered a single state. The new agreement is consistent with 4GLOBAL's strategy of building long-term, iterative relationships with customers as they move through the data maturity lifecycle and uncover new opportunities to realise value from 4GLOBAL's offering.
An online marketing company for the gaming industry, announces its unaudited interim results for the six months ended 30 June 2024. Revenue increased to EUR1.28m (H1 2023: EUR754k), loss before tax decreased to EUR329k (H1 2023: EUR1.80m) and cash at the end of the period decreased to EUR302k (H1 2023: EUR733k). The first half of 2024 has been a period of significant progress for B90. They have successfully restructured their casino and sportsbook operations towards outsourced solutions, allowing them to concentrate on their core strengths. This shift has resulted in positive EBITDA for eight consecutive months and a substantial increase in revenue compared to the same period in 2023, driven by strategic initiatives and successful marketing campaigns during the Euros 2024.
The oesophageal Doppler monitoring Company today announces its unaudited interim results for the six months ended 30 June 2024. Unaudited revenue was flat at £1.1m (H1 2023: £1.1m), loss before tax also flat at £546k (H1 2023 £537k) and Cash at hand on 30 June 2024 was £326k (H1 2023: £107k). The Group's performance in H1 2024 was encouraging and was broadly in line with internal budgets. The Group remains focussed on driving up sales of the new TrueVue Monitor whilst its technical teams continue their work on the new, novel non-invasive ODM device. Deltex Medical continues to take robust actions in order to attain EBITDA positive trading.
The provider of native digital advertising services to premium clients in the Business, Finance and Lifestyle sectors announces its unaudited interim results for the six months ending 30 June 2024. Revenue decreased 4% to £14.2m (H1 2023: £14.8m), Adjusted EBITDA of £0.1m (H1 2023: loss of £1.0m) and as at 30 June 2024 the Company had no borrowings and cash of £8.1m (31 December 2023: cash of £7.7m, 30 June 2023: £7.1m). Trading levels from the first half of the year have continued into the second half, with the summer months being particularly slow. Demand from advertisers remains soft, however, traffic levels remain above last year and there are signs of improvement in demand alongside a more positive economic environment.
The challenger consultancy reports its unaudited interim results for the six months ended 30 June 2024. Revenue increased 28% to £53.0m (H1 2023: £41.6m), profit before tax increased 22% to £12.0m (H1 2023: £9.9m) and net cash increased 14% to £22.1m (H1 2023: £19.5m). Strong momentum has continued into the start of the second half and their expectations for the full year remain unchanged. The Board continues to expect to report revenue within the guidance range of £104-110m and profitability remains strong - full year EBITDA margin is expected to be within the 27-29% guidance range.
The locator of subsurface resources announces its unaudited interim results and report for the six months to 30 June 2024. Revenue increased 16% to £2.2m (H1 2023: £1.9m), loss before tax decreased to £821k (H1 2023: £2.92m) and a cash balance of £0.2m on 30 June 2024 (31 December 2023: £0.4m). Raised gross proceeds of £1.7 million in a Placing and Retail Offer in August 2024. New capital has both bolstered the balance sheet and provides growth capital to expand sales and business development teams.
The provider of SaaS based transport technology solutions to fleet operators announces that the Company has entered into a 5-year contract renewal with J.C. Bamford Excavators Limited (JCB), the global manufacturer of construction equipment, which will cover recurring SaaS software licences and hardware sales until September 2029. This renewal will see Microlise continue to provide JCB with its advanced, white-labelled Industrial Internet of Things (IIoT) platform. This platform, fully integrated within JCB's machinery, enhances connectivity and diagnostic capabilities, supporting JCB's strategic initiatives in delivering smarter, more efficient construction equipment.
This emerging content advertising and virtual product placement media group reported Interims to June 2024. Revenues were £390k, 34% lower reflecting the transitional period as sales migrate to partner-driven sales in a highly competitive market as it suffered from multiple delays to agreed campaigns. There was a lower operating loss at £5.0m compared to £7.3m helped by cost reductions. It raised £6.8m in May 2024, at 1.25p a share to capitalise on the market power of its steadily growing roster of US entertainment 'majors' and 'supermajors’ content providers using MIRI’s ‘unique’ technology. The net cash at end of June is £8.3m and while H1 did not deliver the revenue as expected the CEO is confident that it will come through in H2.
The clean water and clean air technology company announces a trading update following changes to the customer's project timeline at one of its REGEN installations for a customer in Nigeria. As set out in the announcement dated 23 August 2024, the Company highlighted that the outturn for the current financial year would be dependent on projects meeting delivery timelines with one significant project in particular expecting to be recognised in December when factory acceptance testing was due to be completed. Subsequent to successful achievement of the last project milestone three weeks ago for the above-mentioned project, the Company has just recently been made aware by the customer that the next major milestone has been delayed for several weeks. The Board recognises that there is now a strong possibility this delay will affect the Company's factory acceptance testing in mid-December, and revenue recognition in 2024, and as a result, the Board has made the prudent decision to shift anticipated revenue from the project from Q4 2024 to Q1 2025. The Company has accordingly revised its 2024 revenue forecast of $9.5m to $4.5-$5.0m and will recognise the project value of $5.4m in 2025.
The company in claims prevention technology for home insurers announced a trading statement ahead of the Company’s AGM today. The total register customers for its household water leak detection service, LeakBots, has increased 27% (YOY) to 114,000. This excludes the recent partnership one of the UK largest home insurers with over 900,000 customers which is deploying its first order of 17,000 LeakBots in NFU customers’ homes before March 2025 financial year end. In the US, five insurance carriers have been signed up including Nationwide (a Fortune 100 financial services company). Its US partners will be launching LeakBot in Ohio, New York, Washington, and New Jersey shortly.
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