Johnny P

[Johnny P @JohnnyP31915]

@Hen_Nym and, of course, if AI somehow disrupts the markets funnel biz then the rest of the org is fucked because it is used to getting half-ish of their bookings through that, so then it gets ugly

but not too concerned about it

[Johnny P @JohnnyP31915]

@Hen_Nym things that worry me are

- demand might still be suffering from post-covid pent-up demand, but i would think that would have been phased out already and that it wouldnt f.ex. effect FY25
- poor cash flow

[Johnny P @JohnnyP31915]

@oystein_barmen legend

[Johnny P @JohnnyP31915]

@alex__pitti @value_invest12 i dont think anyone is saying that sbc impacts or does matter this way or that way, just that excluding SBC in EPS is very very stupid

[Johnny P @JohnnyP31915]

@alex__pitti @value_invest12 im not trying to argue what is or what isnt undervalued, i dont follow these names, but his post clearly states that SBC is an expense? like that is the point mostly?

[Johnny P @JohnnyP31915]

@alex__pitti @value_invest12 the market may or may not care but it is an expense

same as saying "does the market care that these companies are not making money" in the dotom bubble. obviously the market didnt

[Johnny P @JohnnyP31915]

@uncutsits @ulf_huse Yeah all of the previous risks rolled off, but its also down like 30% since the war started so its not like youre not getting paid for it either. Also this is nothing compared to the risk of getting diluted like crazy two three years ago

[Johnny P @JohnnyP31915]

@uncutsits @ulf_huse Given that all of this is out now (no outstanding convertible bonds, resumed (small) dividends, back to low levels of debt), it should rerate upwards now/soon i guess?

Also im totally fine with accepting a 90% drawdown or whatever on the once-in-a-century pandemic scenario

[Johnny P @JohnnyP31915]

@pangpangyanjiu1 might not wanna use adjusted ebitda when the adjustments are bullshit and there is a lot of D&A necessary to run the business

[Johnny P @JohnnyP31915]

@jacobsogaard @PerNordnet no "subject to agm approval"

Just the board and the management deciding to do this on their own. They should be fired, the whole lot.

[Johnny P @JohnnyP31915]

@jacobsogaard @PerNordnet Pretty tone deaf of the board and management to make a deal selling the most valuable asset of the company, without asking any shareholders and without any "out" - wont comment on breakup fee, wont comment on lockup and says this is a "done deal" with no chance of a higher bid

[Johnny P @JohnnyP31915]

@Spsk2000 @financeamir i mean sure but flat guidance YoY and one quarter doesnt really matter

They have yet to return to anything that isnt mid to high single digit revenue decline while they "churn through low value customers" (how long should they be allowed to use that excuse for?)

[Johnny P @JohnnyP31915]

@Spsk2000 @financeamir Their buybacks has been mostly been funded by cash already in the company, not cash flow, and their "efficiency reset" continues by shedding revenues and barely having positive fcf

[financeamir @financeamir]

There is a new boss in town

[Johnny P @JohnnyP31915]

@Vincent_XCVI @value_invest12 only 3 more years now until the efficiency reset has been completed (for real this time)

[Johnny P @JohnnyP31915]

GN Store Nord sells Hearing Aid business, almost half of their turnover and profits, and, for most people, the best division within their company

And the decision was made purely by mgmt & BoD. And shareholders have absolutely no say in this although the CEO "respects them"

[Johnny P @JohnnyP31915]

@value_invest12 @MultibaggerRsch @mauerstrasse ive seen different aggregators use different numbers

[Johnny P @JohnnyP31915]

@MultibaggerRsch @mauerstrasse if you search for "assuming the exchange of all outstanding common units" in the 10-qs, you will find the number. The number i use (for Q3) is 151m shs. vs the 100+ or so class A shs

Still "cheap" thou