NVX

2.13%

69.0¢ novonix limited

Ann: Half Yearly Report and Accounts, page-6

First 6 Last

Share
Profile

Follow
10mc

3,367 Posts.

161

22/08/24

15:35

Post #: 75327980
Share
Mondyinvest. Just had a look at your posting history. Slagging off every company and all NOT HELD. Downgrading shorter on ignore you go

Originally posted by mondyinvest: ↑

Always unpopular pointing this stuff out, but this is an absolutely horrific report. A clear case of management enriching themselves/employees at the expense of shareholders. Ignore the word salad in the first 15 pages and go straight to the numbers on the P&L statement, page 22 (remembering these are all in USD)

Revenue down 30% from $3.9M to $2.7M (understandable given market conditions)
Production costs down 64% from $2.7M to $1.0M (ostensibly good, but why are they spending so little on their products?)
Admin costs only down 2.9% from $9.8M to $9.5M (wtaf, do they have gold-plated toilets?)
Borrowing costs up 92% from $0.9M to $1.9M (understandable, but why do they have $63M in borrowings in the first place?)
R&D spend down 11% from $2.2M to $2.0M (shouldn't they be spending more on R&D, not less?)
Share based compensation down 30% from $6.8M to $4.7M (good but still huge numbers, and entirely offset by...)
Employee expenses up 47% from $8.9M to $13.0M (so completely offsets any savings in the SBC above)

All in all they've trotted out an even larger loss ($28.7M) than the prior half year ($28.1M) despite spending far less on production and R&D costs, thanks predominantly to how much they pay themselves and their staff. The 'key highlights' paragraph claims they have "industry-leading R&D efforts for battery materials" yet they spent less on R&D than the prior year, but way more on employee costs. All the metrics are around the wrong way. Oh, and they have $63M in borrowings too....

And all of this is only for half a year. At this rate they'll be out of cash before you know it. A nice rort if you're in on it... shareholders sure aren't!

Expand
NVX Price at posting: 63.0¢ Sentiment: Buy Disclosure: Held
15 Upvote

3 Great analysis

Reply

Top Stories

Bitcoin hits fresh record as instos pile into BTC ETFs – and Trump helps, too

Making money: How many microcaps should be in an investor's portfolio?

MKT

The ASX can overlook its Telecomm small-caps. Here’s one diversified brand with an international footprint

The Altcoin Landscape (Part 1): Key alternative cryptocurrencies to watch

'We're looking': Nickel-rich Indonesia sounds graphite warning to Aus producers

Aussie inflation seemingly hit a 3 year low. So why's the ASX200 red?

Palladium's the newest geopolitical hot commodity. But ASX exposure is limited

MIN

Movers and Shakers: Zip Co, MinRes, Kuniko, more – The week's top ASX gainers

Week 44 Wrap: Relatively boring week ahead of US election; HotCopper's most watched; Oz inflation at 3.5%

What each US election outcome would mean for Australian companies & investors

There are more pages in this discussion • 15 more messages in this thread...

First 6 Last

Add NVX (ASX) to my watchlist

(20min delay)
Last 69.0¢		Change -0.015(2.13%)		Mkt cap ! $340.6M

Open	High	Low	Value	Volume
70.0¢	70.0¢	68.0¢	$1.216M	1.761M

Buyers (Bids)

No.	Vol.	Price($)
3	8899	69.0¢

Sellers (Offers)

Price($)	Vol.	No.
69.5¢	6000	1

View Market Depth

No.	Vol.	Price($)
2	7999	0.690
4	164440	0.685
9	155265	0.680
3	12791	0.675
9	44061	0.670

Price($)	Vol.	No.
0.695	6000	1
0.700	11000	1
0.705	13065	2
0.710	20000	2
0.720	139294	5

Last trade - 16.10pm 01/11/2024 (20 minute delay)

NVX (ASX) Chart

Ann: Half Yearly Report and Accounts, page-6

Bitcoin hits fresh record as instos pile into BTC ETFs – and Trump helps, too

Making money: How many microcaps should be in an investor's portfolio?

The ASX can overlook its Telecomm small-caps. Here’s one diversified brand with an international footprint

The Altcoin Landscape (Part 1): Key alternative cryptocurrencies to watch

'We're looking': Nickel-rich Indonesia sounds graphite warning to Aus producers

Aussie inflation seemingly hit a 3 year low. So why's the ASX200 red?

Palladium's the newest geopolitical hot commodity. But ASX exposure is limited

Movers and Shakers: Zip Co, MinRes, Kuniko, more – The week's top ASX gainers

Week 44 Wrap: Relatively boring week ahead of US election; HotCopper's most watched; Oz inflation at 3.5%

What each US election outcome would mean for Australian companies & investors

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News

Ann: Half Yearly Report and Accounts, page-6

Top Stories

Bitcoin hits fresh record as instos pile into BTC ETFs – and Trump helps, too

Making money: How many microcaps should be in an investor's portfolio?

The ASX can overlook its Telecomm small-caps. Here’s one diversified brand with an international footprint

The Altcoin Landscape (Part 1): Key alternative cryptocurrencies to watch

'We're looking': Nickel-rich Indonesia sounds graphite warning to Aus producers

Aussie inflation seemingly hit a 3 year low. So why's the ASX200 red?

Palladium's the newest geopolitical hot commodity. But ASX exposure is limited

Movers and Shakers: Zip Co, MinRes, Kuniko, more – The week's top ASX gainers

Week 44 Wrap: Relatively boring week ahead of US election; HotCopper's most watched; Oz inflation at 3.5%

What each US election outcome would mean for Australian companies & investors

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News