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    IRLAB Therapeutics

    MCap

    SEK653m

    Last close

    SEK14.10

    ▲ 1.50 (11.90%)

    VolitionRx

    MCap

    USD51m

    Last close

    USD0.60

    ▲ 0.05 (9.82%)

    Portobello SpA

    MCap

    EUR12m

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    EUR2.38

    ▲ 0.20 (9.17%)

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Nanoco Group (LSE: NANO)

Last close As at 01/11/2024

GBP0.11

▲ 0.43 (3.97%)

Market capitalisation

GBP22m

Nanoco Group is a global leader in the development and manufacture of cadmium-free quantum dots and other nanomaterials, with c 375 patents. Focus applications are advanced electronics, displays, bio-imaging and horticulture.

Management has said that an order for around 100m sensor units could generate c £20m in revenue, which would equate to deployment across a high-volume handset range, especially if multiple sensors are included in the device. By way of context, Yole Research estimates that the CMOS image sensor market is worth $21.2bn, growing to $30bn by 2030, with applications across almost any market involving image capture mobile devices, automotive, industrial, surveying, security and agriculture.

Latest Insights

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TMT | Update

Nanoco Group — European partnership not moving forward

TMT | Update

Nanoco — Visibility pushed back

TMT | Outlook

Nanoco Group — Sensing the opportunity

TMT | Flash note

Nanoco — Mechanisms for shareholder returns confirmed
Nanoco Group_resized
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Sector

TMT

Equity Analyst

Dan Ridsdale

Head of Technology

Key Management

  • Brian Tenner

    CEO

  • Liam Gray

    CFO

Balance Sheet

Forecast net cash (£m)

20

Forecast gearing ratio (%)

N/A

Share Price Performance

Price Performance
% 1M 3M 12M
Actual (16.8) (27.3) (31.7)
Relative (15.3) (24.8) (39.1)
52 week high/low 23.4p/9.0p

Financials

Nanoco Group’s announcement that the collaboration with its European partner is essentially coming to an end is clearly disappointing news. We reduce our FY25 revenues by £2.5m and FY25 net cash by £2.1m to reflect this, although the contractual unwinding and potential restructuring may prompt further changes. While Nanoco is now clearly in a significant transitional state, the partnership with the Asian partner continues. The group’s intellectual property, expertise, manufacturing and test capability provide it with potential strategic value, with Nanoco’s strong balance sheet and low-cost model providing a degree of optionality.

Y/E Jul Revenue (£m) EBITDA (£m) PBT (£m) EPS (fd) (p) P/E (x) P/CF (x)
2022A 2.5 (2.1) (4.6) (1.32) N/A N/A
2023A 5.6 (0.5) (3.6) (0.66) N/A N/A
2024E 7.9 0.5 (0.2) (0.26) N/A 60.2
2025E 6.8 (0.6) (0.8) (0.38) N/A N/A

Research

Update

TMT

Nanoco — Visibility pushed back
scott-webb-s58uyQWc42Q-unsplash (1)

Outlook

TMT

Nanoco Group — Sensing the opportunity
scott-webb-s58uyQWc42Q-unsplash (1)

TMT

Update

Nanoco Group — European partnership not moving forward

scott-webb-s58uyQWc42Q-unsplash (1)
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Thematics

thematic

TMT

MediaWatch – Encouragements and frustrations

thematic

TMT

MediaWatch – Glimpses of positivity

thematic

TMT

MediaWatch – Rinse and repeat

thematic

Consumer

Deutsches Eigenkapitalforum (EKF) 2023 consumer and media
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