Having a bit of time on my hands over Christmas I thought I would do some catch-up reading on HTG.
This will also give me more info on which to base my decision regarding the retail share offer.
Harvest has obligingly produced the Investor Presentation for background info regarding the share offer.
I was reading through it trying to get some feel for future revenue.
Harvest outlines 6 sectors that might benefit from their software/technology. These sectors are:The only section (that I can see) that offers any kind of revenue forecast is Maritime & Energy.
- Maritime & Energy
- Defence & Govt
- Security & Surveillance
- Utilities & Light Industry
- Unmanned Systems/Vehicles
- Broadcasting & Conferencing
It states that the Infinity Nodestream 4-channel solution costs about $850/month ($10,200 p.a.) and that Speedcast (with which Harvest has a reseller agreement) services about 10,000 ships. Harvest is targeting 1,000 licensing plans by end of CY '22.
So I assume it means it is aiming for 10% market penetration to give revenue of $10 million.
Harvest also lists "Company A" and "Company B" which service 45,000 and 20,000 ships, respectively. I guess it is pure speculation as to whether they end up dealing with Harvest or not, so I prefer not to include them.
I can't see any other revenue estimates in the presentation, including those for Opsivity, which, I understand, is owned by Harvest.
The Q1 '22 revenue was $4 million (probably no Speedcast revenue included there). So total revenue by end CY '22 might be $10 million from Speedcast plus $16 million other ($4 million x 4 Quarters)?
With 583 SOI, a revenue stream of $26 m will mean EPS of 4.4c. With a PER of 20; that indicates a SP of 89c; let's say 90c for round numbers. That would be 4x where we are now; nothing to be sneezed at.
If anyone can come up with revenue estimates for other categories, it would be appreciated.
Alternatively, are any recent analyst reports available?
Cheers,
FHC
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