Revolving credit http://fimendurance.com/ Tue, 13 Sep 2022 19:58:32 +0000 en-US hourly 1 https://wordpress.org/?v=5.9 https://fimendurance.com/wp-content/uploads/2021/10/icon-5-120x120.png Revolving credit http://fimendurance.com/ 32 32 Cue Health needs success in flu diagnostics to jump-start growth (NASDAQ:HLTH) https://fimendurance.com/cue-health-needs-success-in-flu-diagnostics-to-jump-start-growth-nasdaqhlth/ Tue, 13 Sep 2022 19:37:00 +0000 https://fimendurance.com/cue-health-needs-success-in-flu-diagnostics-to-jump-start-growth-nasdaqhlth/ BigCamera A quick take on Cue’s health Cue Health Inc. (NASDAQ:NASDAQ:HLTH) went public in September 2021, raising approximately $200 million in gross proceeds from an IPO at a price of $16.00 per share. The firm has developed an integrated diagnosis US health monitoring and delivery platform. Until management can get approval for their standalone flu […]]]>

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A quick take on Cue’s health

Cue Health Inc. (NASDAQ:NASDAQ:HLTH) went public in September 2021, raising approximately $200 million in gross proceeds from an IPO at a price of $16.00 per share.

The firm has developed an integrated diagnosis US health monitoring and delivery platform.

Until management can get approval for their standalone flu test and start demonstrating demand for it, I’m on cue for the short term.

Benchmark Health Overview

Cue, based in San Diego, Calif., was founded to first develop a COVID-19 test kit and an integrated information platform for treatment and patient communication.

Management is led by Co-Founder, President and CEO Ayub Khattak, who has been with the company since inception and holds a BS in Mathematics from UCLA.

The company’s key offerings in its Cue integrated care platform:

  • Health monitoring system

  • Reader

  • Cartridge

  • Magic wand

  • Data

  • Delivery apps

  • Business Dashboard

  • Ecosystem integrations

The company maintains relationships with healthcare providers through its internal direct sales team focused on healthcare providers, large enterprises and public sector customers.

Cue Health Market and Competition

According to a 2020 market research report According to Grand View Research, the global market for COVID-19 detection kits was estimated at $3.28 billion in 2020 and is expected to reach $5 billion by 2027.

This represents a projected CAGR of 5.05% from 2021 to 2027.

The main drivers of this expected growth are strong growth in demand for testing services of all types globally.

Also below is a graph showing the detection kit usage market share by end-user type:

COVID-19 Detection Kits Market

COVID-19 Detection Kit Market (Grand View Research)

Major competitors or other industry participants include:

  • Abbott Laboratories

  • Becton, Dickinson

  • BioMerieux

  • Bio-Rad Laboratories

  • Danaher

  • Ellume Limited

  • Everly Health

  • rock

  • Fluidigm

  • GenMark Diagnosis

  • Others

Health Information Software Market is Expected to Grow Nearly $12 Billion from 2021 to 2026, According to a report by Technavio.

If achieved, this would translate to a CAGR of 7.9%, with North America accounting for 41% of global market growth during this period.

Cue’s Recent Financial Performance

  • Total revenue by quarter has produced the following trajectory over the last 9 quarters:

Total revenue for the 9 quarters

Total revenue for the 9 quarters (looking for Alpha)

  • Gross margin by quarter followed a similar trajectory to total revenue:

Gross profit for the 9 quarters

Q9 gross profit (looking for Alpha)

  • Selling, G&A expenses as a percentage of total revenue by quarter were highly variable, as shown in the chart below:

9 Quarter Sales, G&A % of revenue

9th Quarter Sales, G&A % of Revenue (Alpha Research)

  • The operating result per quarter became strongly negative in the second quarter of 2022, due to a significant write-down of inventories:

9 quarter operating profit

9th quarter operating profit (looking for Alpha)

  • Earnings per share (diluted) also turned negative in the second quarter of 2022:

Earnings per share over 9 quarters

Q9 earnings per share (seeking alpha)

(All data in the graphs above are in accordance with GAAP)

Since its IPO, HLTH’s stock price has fallen 81.4% compared to the approximately 3.1% drop in the US S&P 500 index, as shown in the chart below:

Share price since IPO

Share price since IPO (Seeking Alpha)

Assessment and other measures for benchmark health

Below is a table of relevant capitalization and valuation figures for the company:

Measurement (TTM)

Rising

Enterprise Value/Sales

0.36

Revenue growth rate

210.7%

Net profit margin

-6.2%

% EBITDA GAAP

7.5%

Market capitalization

$549,650,000

Enterprise value

$245,250,000

Operating cash flow

$8,050,000

Earnings per share (fully diluted)

-$0.36

(Source – Alpha Research)

Benchmark Health Commentary

In its latest earnings call (Source – Seeking Alpha), covering Q2 2022 results, management highlighted shipping 15,000 of its benchmark readers as part of its continued strategy to grow its customer base.

In addition, the company has submitted its application for its COVID-19 molecular test and continues to pursue its “multiplex flu and flu + COVID molecular test plans.”

The company has completed clinical studies for its stand-alone flu test and is preparing its FDA application for submission in the third quarter.

Further testing is expected to begin clinical studies in the remaining part of 2022.

Regarding its financial results, total revenue was “better than expected”, but still declining sequentially as the COVID-19 pandemic subsided.

Adjusted gross profit margin was 30% despite higher supply chain costs and lower production volume.

However, the company recorded an inventory write-off of $42.8 million for obsolete inventory and warranty reserves. This charge, combined with a restructuring charge of nearly $2 million to reduce its manufacturing workforce, produced a significant loss for the quarter.

On the balance sheet, the company ended the quarter with cash of $363 million and entered into a secured revolving credit facility of $100 million.

Over the past 12 months, the company has used $75 million of free cash, primarily due to capital expenditures.

Looking ahead, management limited its guidance to just the third quarter, where it expects revenue of $57.5 million in the middle of the range. That figure is down sharply from $87.7 million in the second quarter.

On the valuation side, the market values ​​HLTH at an EV/Income multiple of just 0.36x.

The main risk to the company’s outlook is the timing of approval of its next test submissions as the company continues to use cash.

A potential upside catalyst for the stock could include a return of COVID-19 to the US in the coming winter period.

Given the high vaccination rates in the United States, I do not foresee a high likelihood of significant growth in COVID-19 cases and drive demand for its related testing.

Until management can get approval for their standalone flu test and start demonstrating demand for it, I’m on cue for the short term.

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End of NFE and Apollo funds https://fimendurance.com/end-of-nfe-and-apollo-funds/ Tue, 16 Aug 2022 04:08:10 +0000 https://fimendurance.com/end-of-nfe-and-apollo-funds/ New Fortress Energy Inc. (NASDAQ: NFE) (“NFE”) and Apollo (NYSE: APO) today announced that it has entered into the previously announced joint venture (the “JV” or the “Platform”), establishing a platform which now owns and operates 11 liquefied natural gas (“LNG”) infrastructure vessels consisting of floating storage and regasification assets, floating storage vessels and LNG […]]]>

New Fortress Energy Inc. (NASDAQ: NFE) (“NFE”) and Apollo (NYSE: APO) today announced that it has entered into the previously announced joint venture (the “JV” or the “Platform”), establishing a platform which now owns and operates 11 liquefied natural gas (“LNG”) infrastructure vessels consisting of floating storage and regasification assets, floating storage vessels and LNG carriers. The platform has been named Energos Infrastructure (“Energos”) and is owned approximately 80% by funds managed by Apollo and 20% by NFE.

This press release is multimedia. See the full version here: https://www.businesswire.com/news/home/20220815005676/en/

Apollo and NFE also announced Energos’ management team, led by new chief executive Arthur Regan. Regan is a seasoned maritime industry general manager and operating partner of Apollo, having built and led publicly traded and privately held maritime businesses for the past three decades. He began his career as an officer on merchant ships, notably sailing as a captain. Regan will also serve as a director of the Energos board of directors. Additionally, Kevin Kilcullen has been appointed Chief Financial Officer of Energos. Kilcullen was previously chief financial officer at publicly traded Diamond S Shipping until the close of its recent merger deal.

Energos is a global marine infrastructure platform backed by long-term contracts, benefiting from NFE’s downstream LNG exploration and development activities, as well as the leading maritime and investment experience of NFE. ‘Apollo. The platform provides essential infrastructure for the delivery, storage and regasification of LNG to supply countries around the world, which can reduce their dependence on oil and coal to reduce carbon emissions and enable cost savings. potentially substantial. In addition to serving NFE’s projects globally, the platform also serves a diverse customer base of utilities and energy companies around the world under third-party charters.

The portfolio of 11 vessels includes 6 floating storage and regasification units (“FSRU”), 2 LNG carriers (“LNGC”) and 3 floating storage units (“FSU”). As part of the transaction, NFE agreed to charter ten of the platform’s vessels for a period of up to 20 years, and these charters commenced immediately or will commence upon the expiration of existing third-party charter agreements. ships. The platform will also seek growth opportunities in support of both ENF and third parties to support the energy transition and strengthen energy security globally.

“Reliable energy infrastructure is critical to addressing the global energy crisis and reducing emissions,” said Wes Edens, president and CEO of New Fortress Energy. “We are excited to partner with Apollo to launch a leading LNG maritime infrastructure company that will enhance our efforts to bring cleaner fuel and energy security to customers around the world.”

Brad Fierstein, Apollo Partner, said, “Energy transition and energy reliability are global priorities and are at the heart of Apollo’s sustainable investing platform. We are very pleased to complete the JV transaction with NFE and to have an industry veteran like Art at the helm, leading the company into its next phase.

The total implied business valuation of Energos is approximately $2 billion based on the JV transaction. Apollo Capital Solutions provided debt advisory and investment services for the joint venture and the debt financing was led by Brookfield Infrastructure Debt and also included a syndicate of other credit funds managed by Global Infrastructure Partners, HPS Investment Partners, LLC and Carlyle Global Credit. Investec Inc. and BMO Capital Markets Corp. led the arrangement of revolving credit facilities to support the transaction. NFE was advised by Akin, Gump in the transaction, Apollo was advised by Vinson & Elkins LLP and Paul, Weiss, Rifkind, Wharton & Garrison LLP, and the Credit Group was advised by Milbank LLP. Morgan Stanley and DnB Capital Markets acted as financial advisors to NFE in connection with the transaction.

Energos Infrastructure will establish its headquarters in Stamford, CT.

About New Fortress Energy

New Fortress Energy Inc. (NASDAQ: NFE) is a global energy infrastructure company founded to help alleviate energy poverty and accelerate the global transition to reliable, affordable and clean energy. The company owns and operates natural gas and liquefied natural gas (LNG) infrastructure, vessels and logistics assets to rapidly deliver turnkey energy solutions to global markets. Collectively, the company’s assets and operations aim to support global energy security, enable economic growth, improve environmental stewardship, and transform industries and local communities around the world.

About Apollo

Apollo is a high growth global alternative asset manager. In our asset management business, we seek to provide our clients with excess return at every stage of the risk-reward spectrum, from investment grade to private equity, with a focus on three investment strategies : yield, hybrid and equities. For more than three decades, our investment expertise on our fully integrated platform has met the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by offering a range of retirement savings products and acting as a solution provider to institutions. Our patient, creative and knowledgeable approach to investing aligns our clients, the companies we invest in, our employees and the communities we impact, to expand opportunities and achieve positive results. As of June 30, 2022, Apollo had approximately $515 billion in assets under management. To learn more, please visit www.apollo.com.

Caution Regarding Forward-Looking Statements

This communication contains forward-looking statements. All statements in this communication other than historical information are forward-looking statements that involve known and unknown risks and relate to future events, our future financial performance or our projected business results. You can identify these forward-looking statements by using forward-looking words such as “expects”, “may”, “will”, “approximately”, “predicts”, “intends”, “plans”, “estimates”. , “anticipate”, or the negative version of these words or other comparable words. Forward-looking statements include: the platform’s ability to support reliable, cleaner and more affordable energy to support the transition, reduce countries’ dependence on oil and coal, reduce carbon emissions and enable cost savings, and accelerate the energy transition; the Platform’s ability to own and operate the vessels and serve a diverse customer base; the ability of the management team to manage the operations of the Platform; benefits to be drawn from the experience of the JV partners; the chartering of certain vessels to NFE; anticipated growth strategy and ability to meet growing demand for cleaner fuels and energy security globally; the ability of reliable energy infrastructure to address the current global energy crisis and a low-carbon future; total implied enterprise value; and the location of the Platform. There is no certainty that any of the events anticipated by the forward-looking statements will occur or occur, or if any of them occur, what impact it will have on the results of operations and financial condition of the platform, NFE and Apollo or the stock price of these parties.

These forward-looking statements represent the Company’s expectations or beliefs regarding future events, and it is possible that the results described in this press release will not be achieved. These forward-looking statements are necessarily estimates based on current information and are subject to risks, uncertainties and other factors, many of which are beyond the control of the Company, which could cause actual results to differ materially from results. discussed in the forward-looking statements. statements. Factors that could cause or contribute to such differences include, but are not limited to: the joint venture’s ability to implement its business platform, operate the vessels and realize the efficiencies and benefits planned; common risks associated with new businesses; common risks associated with joint ventures and the successful integration of businesses, including the timing and amount of operating and/or capital expenditure funding commitments or obligations, non-performance by the joint venture, limited or no control over the management, business or operations of the joint venture joint venture and subordination of creditors’ claims in the event of liquidation or reorganization; non-payment or non-performance by any of NFE’s or the JV’s customers or suppliers, including, without limitation, non-payment or non-performance by any of the charter parties; the ability of the parties to implement their respective plans, forecasts and other expectations; adverse regional, national or international economic conditions, adverse capital market conditions and adverse political developments; volatility in the price or demand for LNG products; disruption of business following the transaction; and the impact of public health crises, such as pandemics (including the coronavirus (COVID-19)) and epidemics and any related corporate or governmental policies and actions to protect the health and safety of individuals or government policies or actions to keep national systems functioning. or global economies and markets. These factors are not necessarily all important factors that could cause actual results to differ materially from those expressed in NFE’s forward-looking statements. Other known or unpredictable factors could also have a material adverse effect on future results.

Any forward-looking statement speaks only as of the date on which it is made and, except as required by law, the Company undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time and it is not possible for the Company to predict all of these factors. When reviewing these forward-looking statements, you should keep in mind the risk factors and other cautionary statements contained in our annual report, quarterly reports and other reports filed with the SEC, which could cause its actual results differ materially from those contained in any forward-looking statements. search statement. We assume no obligation to update these forward-looking statements, although our circumstances may change in the future.

See the source version on businesswire.com: https://www.businesswire.com/news/home/20220815005676/en/

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Results for the first quarter of 2022 of the Iveco group https://fimendurance.com/results-for-the-first-quarter-of-2022-of-the-iveco-group/ Tue, 26 Apr 2022 12:00:00 +0000 https://fimendurance.com/results-for-the-first-quarter-of-2022-of-the-iveco-group/ The following is an excerpt from the “Iveco Group 2022 First Quarter Results” press release. The full press release is available by visiting the media section of the Iveco Group corporate site: https://www.ivecogroup.com/media/corporate_press_releases or by consulting the attached PDF: Iveco Group consolidated turnover of €3.0 billion (+2% year-on-year).Adjusted net income of 42 million euros and […]]]>

The following is an excerpt from the “Iveco Group 2022 First Quarter Results” press release. The full press release is available by visiting the media section of the Iveco Group corporate site: https://www.ivecogroup.com/media/corporate_press_releases or by consulting the attached PDF:

Iveco Group consolidated turnover of €3.0 billion (+2% year-on-year).
Adjusted net income of 42 million euros and adjusted EBIT of 102 million euros.
Free cash flow from Industrial Activities negative 166 million euros, 137 million euros better than in Q1 2021.

Consolidated turnover of €3,048 millionup 1.7%. Net revenue from Industrial Activities of €3,010 millionup 1.5%, mainly due to positive price realization and better mix.

Adjusted EBIT of 102 million euros (€134m in Q1 2021), with a 3.3% margin. Adjusted EBIT from industrial activities of 82 million euros (€116 million in Q1 2021), with a €34 million increase in Commercial and Specialized Vehicles. Powertrain adjusted EBIT of €45 million (€89 million in Q1 2021).

Adjusted net income of 42 million euros (adjusted net income of €69 million in Q1 2021), which excludes a negative post-tax impact of €51 million related to our operations in Russia and Ukraine, mainly due to the impairment of certain assets. Adjusted diluted earnings per share of €0.15 (adjusted diluted earnings per share of €0.21 in Q1 2021).

Published tax charge of 22 million euros, with adjusted effective tax rate (adjusted TER) of 38% in the first quarter of 2022. The adjusted ETR reflects the different tax rates applied in the jurisdictions where the Group operates, unbenefited losses in certain jurisdictions and other discrete elements.

Free cash flow from Industrial Activities been negative 166 € millionan improvement of €137 million compared to Q1 2021 due to lower seasonal working capital absorption, notwithstanding the impact of component shortages on inventory levels. Net cash from Industrial Activities to 765 € million (1,063 million euros at 31st December 2021).

Cash available to €3,390 million at 31st March 2022, up by 1,954 million euros compared to the 31st December 2021, of which €1,400 million of undrawn syndicated committed revolving credit facility (a €500 million syndicated term credit facility was executed and fully utilized in the first quarter of 2022) and revolving credit facilities undrawn commitments of €200 million signed in the first quarter of 2022.

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9F (NASDAQ:JFU) vs. Lufax (NYSE:LU) Financial Contrast https://fimendurance.com/9f-nasdaqjfu-vs-lufax-nyselu-financial-contrast/ Fri, 15 Apr 2022 16:46:25 +0000 https://fimendurance.com/9f-nasdaqjfu-vs-lufax-nyselu-financial-contrast/ 9F (NASDAQ: JFU – Get a rating) and Lufax (NYSE: LU – Get a rating) are both finance companies, but which is the better stock? We’ll compare the two companies based on valuation strength, earnings, dividends, risk, profitability, analyst recommendations and institutional ownership. Profitability This table compares the net margins, return on equity and return […]]]>

9F (NASDAQ: JFUGet a rating) and Lufax (NYSE: LUGet a rating) are both finance companies, but which is the better stock? We’ll compare the two companies based on valuation strength, earnings, dividends, risk, profitability, analyst recommendations and institutional ownership.

Profitability

This table compares the net margins, return on equity and return on assets of 9F and Lufax.

Net margins Return on equity return on assets
9F N / A N / A N / A
Lufax 27.08% 18.93% 5.45%

Analyst Recommendations

This is a breakdown of recent recommendations for 9F and Lufax, as reported by MarketBeat.com.

Sales Ratings Hold odds Buy reviews Strong buy odds Rating
9F 0 0 0 0 N / A
Lufax 0 3 2 0 2.40

Lufax has a consensus target price of $9.76, indicating a potential upside of 78.75%. Given Lufax’s possible higher upside, analysts clearly believe that Lufax is more favorable than 9F.

Institutional and insider ownership

0.6% of 9F shares are held by institutional investors. Comparatively, 24.3% of Lufax shares are held by institutional investors. Strong institutional ownership indicates that large fund managers, hedge funds, and endowments believe a stock will outperform the market over the long term.

Benefits and evaluation

This table compares the revenue, earnings per share and valuation of 9F and Lufax.

Gross revenue Price/sales ratio Net revenue Earnings per share Price/earnings ratio
9F $192.49 million 0.92 -$346.19 million N / A N / A
Lufax $9.70 billion 1.39 $2.61 billion $1.04 5.25

Lufax has higher revenue and profit than 9F.

Volatility and risk

9F has a beta of -0.6, indicating its stock price is 160% less volatile than the S&P 500. In comparison, Lufax has a beta of 0.3, indicating its stock price is 70% less volatile than the S&P 500.

Summary

Lufax beats 9F on 10 of the 10 factors compared between the two stocks.

About 9F (Get a rating)

9F Inc., together with its subsidiaries, operates a digital financial account platform that integrates and personalizes financial services in the People’s Republic of China. Its products include digital financial accounts that offer online lending, wealth management and payment facilitation services; revolving and non-revolving loan products to borrowers, as well as referral services to institutional funding partners; and a suite of online wealth management products, such as fixed income, stocks, insurance, bank wealth management products and mutual funds for investors on various platforms including Wukong Licai, 9F Wallet and 9F Puhui. The Company also provides payment facilitation services and other products and services that help users pay credit card bills and household bills including utility bills; and other value-added services consisting of credit history research, debt consolidation and user referral services. It provides its services through partner borrowers, investors, financial institutions and merchants. The company was formerly known as JIUFU Financial Technology Service Limited and changed its name to 9F Inc. in June 2014. 9F Inc. was founded in 2006 and is headquartered in Beijing, People’s Republic of China.

About Lufax (Get a rating)

Lufax Holding Ltd operates a personal financial services technology platform in China. It offers loan products, including unsecured loans and secured loans, as well as consumer loans. The company also provides wealth management platforms, such as Lufax (Lu.com), Lu International (Singapore) and Lu International (Hong Kong) to middle class and affluent investors to invest in products and portfolios; retail credit facilitation services platform that provides small business owners with lending solutions; and technology empowerment solutions for financial institutions. Lufax Holding Ltd was incorporated in 2014 and is headquartered in Shanghai, China.



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