News blog

Mobile Tornado

  • BY: Andrew Hore |
  • POSTED: 16/04/2015 |

Instant mobile communications platform developer Mobile Tornado is raising £1.35m at 6p a share. 

The cash will help with existing roll-outs, widening the customer base and product development. North and South America are expected to be the main markets.

The loss increased from £2.4m to £3.2m in 2014. Overall revenues slumped from £2.7m to £1.7m but recurring revenues grew by 45% to £1.2m so they have grown in importance.  The main decline in revenues was from hardware and third party sales.

One year ago Investec forecast a profit for 2015 but the latest forecast is for a loss of £1m. The improvement is a combination of cost-cutting and a recovery in revenues. Breakeven is forecast for 2016 and a profit of £900,000 in 2017.

Even with the latest fundraising, net debt is expected to reach £7m.

The share price rose 0.25p to 4.5p. That could be equivalent to eight times earnings if the 2017 forecast is achieved.

AIM Journal March 2015 available.

© 2023 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Browse by issue
All issues
Popular tags
All tags

betbrokers, financial, gold, health, leisure, media, mobile, resources, services, technology

AIM Micro feeds

Keep up to date with articles published at AIMMicro.com. Subscribe to AIM Micro RSS Feeds