Here's some highlights from today's announcement, in particular relating to the outlook on it's micro-devices business:
- After paying back US $6.1m of debt, the company will be now be debt-free saving US $700k/year on interest payments
- MD recorded a 41% increase in revenue for FY20 and the current financial year is also expected to grow materially
- Over US$3.0m of orders have now been obtained for development and delivery of the COVID detection sensor
- Delivering growing volumes to its largest customer Abiomed as demand has grown due to procedures influenced by COVID-19
- Previously announced customer, DiDi, Chuxing Technology has re-initiated the development of the automated car sensor design after a COVID-19 related work disruption
- Several new unannounced customers are providing additional designs and development-based revenue that are expected to ramp into production in the second half of FY21
- One of those customers, IonQ, recently announced the world’s most powerful quantum supercomputer using a Sensera built ion-trapping MEMS device
At today's closing price of 6.2c, the company is sitting at an undiluted market cap of only AUD $20m and no longer has any debt hanging over its head. With many tech stocks booming of late, I can see the share price going north from here.
Cheers
SE1 Price at posting:
6.2¢ Sentiment: Buy Disclosure: Held
