Allied Minds

LN: ALM

£173.1m market cap

71.9p last close

Allied Minds is an IP commercialisation company with a concentrated investment portfolio focused on early-stage companies within life sciences and technology. Its portfolio companies are spin-outs from US federal government laboratories and universities.

Investment summary

Allied Minds is an IP commercialisation (IPC) company focused on early-stage companies. Its portfolio companies are spin-outs from US federal government laboratories and universities. Following a strategic review, Allied Minds has further concentrated its strategy around its three most promising investments, the technology businesses Hawkeye 360, Federated Wireless and Spin Memory. The cost base is under review across the business, with the departure of the CEO and the Board being slimmed down to reduce costs and reflect the company’s focus on its technology holdings.

Y/E Dec
Revenue (US$m)
EBITDA (US$m)
PBT (US$m)
EPS (c)
P/E (x)
P/CF (x)
2017A 5.0 (88.4) (101.2) (27.88) N/A N/A
2018A 5.6 (77.5) 55.3 19.67 4.6 N/A
2019E N/A N/A N/A N/A N/A N/A
2020E N/A N/A N/A N/A N/A N/A
Last updated on 25/07/2019
Industry outlook

Investor sentiment towards the IPC sector in general has remained negative with stocks typically trading at a meaningful discount to NAV. In 2019, investor frustration at a lack of material exits/value realisation across the sector are only likely to intensify leading to greater differentiation between stocks that offer the potential for meaningful exits in a realistic timeframe and those that do not.

Last updated on 25/07/2019
Sector
TMT
Share price graph
Balance sheet
Forecast net debt (US$m) N/A
Forecast gearing ratio (%) N/A
Price performance
%
1m
3m
12m
Actual (3.2) 12.2 (10.1)
Relative* (4.3) 11.6 (7.6)
52-week high/low 87.1p/37.2p
*% relative to local index
Key management
Peter Dolan Chairman
Mike Turner Co-CEO, general counsel

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