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CUI Global - Disruptive technology moving ahead

CUI Global - Disruptive technology moving ahead

CUI Global (NASDAQ: CUI) is a platform company focussing on the acquisition, development and commercialization of new, innovative technologies. The company operates through two divisions – Power & Electromechanical, and Energy.

The strategic focus for CUI Global is the Energy segment. We believe that this business is entering a phase of transformational growth. In this report we examine the growth potential for the Energy segment and some of the major projects which will deliver this growth.

 

Finally we consider that our forecasts for revenue and earnings could mean in terms of the stock price. We frame this in terms of 2020 exit multiples for investors, as we believe this is a sensible timeframe to realise the early stages of the GasPT journey.

Full report is available via Capital Network website
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CUI Global Inc Timeline

CN Research
May 17 2019
Article
May 16 2019

Related Researches

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November 10 2018

CUI Global Inc (NASDAQ: CUI) reported third-quarter (Q3) results on November 7th, showing revenue of US$24.7mln (Q3 2017: US$21.8mln) and a reduced earnings per share (EPS) loss of US$0.05 (Q3 2017: -US$0.09). These compare with the consensus forecasts of US$23.5mln revenue, an EPS loss of US$0.07 (from market sources). The performance reflects strong execution in the Power & Electromechanical segment and a sharp rebound in the Energy division.

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March 07 2019

Gfinity PLC (LON:GFIN) reported results for the first-half period to December 2018, on March 4, demonstrating very strong progress. Revenues grew 143% year-on-year, with 104% growth for the Managed Services business and 387% for the Owned Content business. Managed Services increased its revenues by 189% on a like-for-like basis (based on existing partners) and achieved 4.3x increase in viewership. Going forward we expect continued growth in both divisions, with Managed Services becoming the major driver.

Gross profit was +ve £0.5mln (H1 2018: £3.2mln loss), with the improvement driven by improved profitability in Managed Services and reduced investment in the Elite Series contributing to a £2.8mln improvement in gross profit for the Owned Content business. The company reported a net cash position of £6.4mln, representing a good level of resource to support further growth. Overall, we have increased confidence in our FY June 2019 forecast of 80% revenue growth and positive gross margin.

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January 26 2019

During the last week, the company has made two significant announcements:

  • The nomination of Moni Borovitz as CEO, from finance director previously, subject to the annual general meeting on 14 March.
  • A share buyback of up to £150k, commencing 28 January

The company came into being in its current form via the August 2018 merger of MTI Wireless Edge with MTI Computers, with Moni Borovitz playing a leading role in delivering the merger.

In this report, we present a reminder of the key dynamics of the merger. We note that since the merger, the share price has yet to stabilise and we believe that the buyback may be helpful in this regard.

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