Nanoco Group - Edison Group

Overview
Price performance
Financials
Research
Thematics

Nanoco Group is a global leader in the development and manufacture of cadmium-free quantum dots and other nanomaterials, with c 375 patents. Focus applications are advanced electronics, displays, bio-imaging and horticulture.

Management has said that an order for around 100m sensor units could generate c £20m in revenue, which would equate to deployment across a high-volume handset range, especially if multiple sensors are included in the device. By way of context, Yole Research estimates the CMOS image sensor market is worth $21.2bn, growing to $30bn by 2030, with applications across almost any market involving image capture mobile devices, automotive, industrial, surveying, security and agriculture.

Latest Insights

View More

TMT |
Flash note

12.03.24

Nanoco — Mechanisms for shareholder returns confirmed

TMT |
Flash note

08.02.24

Nanoco — Steps on the pathway to volume production

TMT |
Flash note

15.01.24

Nanoco — Another major milestone delivered

TMT |
Flash note

15.11.23

Nanoco Group — First commercial order fulfilled – major milestone

Nanoco Group_resized

Sector

TMT

Equity Analyst

Head of Technology

Key Management

Brian Tenner

CEO
Liam Gray

CFO

Balance Sheet

Forecast net cash (£m)

25.8

Forecast gearing ratio (%)

N/A

Share Price Performance

Price Performance
%	1M	3M	12M
Actual	(14.3)	(10.2)	1.2
Relative	(16.6)	(16.0)	(3.6)
52 week high/low	23.4p/15.6p

Financials

With the successful Samsung litigation now in the rear-view mirror, Nanoco’s focus will now be fully on building the business as a developer, manufacturer and licensor of nanomaterials. With world class expertise in quantum dots, validated IP and high volume manufacturing facilities backed up by a strong balance sheet, we believe that the business has a robust platform for growth. The company’s partnerships with STMicro and an Asian Chemicals supplier position Nanoco strongly to participate in the anticipated adoption of infrared sensors in handsets and other mass consumer devices, which if all goes to plan could drive an inflection in revenues from late FY25.

Y/E Jul	Revenue (£m)	EBITDA (£m)	PBT (£m)	EPS (fd) (p)	P/E (x)	P/CF (x)
2022A	2.5	(2.1)	(4.6)	(1.32)	N/A	N/A
2023A	5.6	(0.4)	(3.6)	(0.66)	N/A	N/A
2024E	8.6	1.3	(0.4)	(0.13)	N/A	47.0
2025E	N/A	N/A	N/A	N/A	N/A	N/A

Research

Flash note

TMT

09.01.23

Nanoco Group — Context on no-fault settlement of litigation

Update

21.10.22

Nanoco — Progress in both organic and non-organic activity

TMT

Update

Nanoco — Litigation settlement concluded

Update

TMT

13.09.22

Nanoco Group — Strengthening customer engagement

scott-webb-s58uyQWc42Q-unsplash (1)

Update

TMT

18.08.22

Nanoco Group — Reaching two key milestones in H222

Update

TMT

07.06.22

Nanoco Group — More good news – this time organic business

Flash note

TMT

17.05.22

Nanoco Group — Samsung versus Nanoco: Round 1 to Nanoco

edison tv

TMT

04.05.22

Nanoco – executive interview

Update

TMT

14.04.22

Nanoco Group — Growing confidence

scott-webb-s58uyQWc42Q-unsplash (1)

Update

TMT

21.03.22

Nanoco Group — Closer to commercialisation

Update

TMT

18.11.21

Nanoco — Progress against stated objectives during FY21

Flash note

TMT

04.11.21

Nanoco — Year of steady progress

Update

TMT

12.08.21

Nanoco Group — Making good sense

scott-webb-s58uyQWc42Q-unsplash (1)

Update

TMT

21.07.21

Nanoco Group — Non-dilutive debt extends organic cash runway

Flash note

TMT

06.07.21

Nanoco — Diversifying its customer base

Flash note

TMT

28.06.21

Nanoco — Maximising chances of positive litigation outcome

Flash note

TMT

20.05.21

Nanoco — Patent review process going ahead

scott-webb-s58uyQWc42Q-unsplash (1)

Update

TMT

14.05.21

Nanoco Group — Sensing programme moves to next phase

Update

TMT

30.03.21

Nanoco — Progressing sensing opportunity

Update

TMT

26.11.20

Nanoco — Grant funding for life sciences project

Update

TMT

16.10.20

Nanoco — Rebuilding organic value

scott-webb-s58uyQWc42Q-unsplash (1)

Flash note

TMT

01.09.20

Nanoco — Focusing group resources

Flash note

TMT

16.07.20

Nanoco — Fundraising extends cash runway further

edison tv

TMT

14.07.20

Nanoco Group – executive interview

Flash note

TMT

13.07.20

Nanoco Group — Funding secured for patent infringement lawsuit

Flash note

TMT

28.05.20

Nanoco — Supply agreement with STMicroelectronics

scott-webb-s58uyQWc42Q-unsplash (1)

Update

TMT

04.05.20

Nanoco Group — Extending cash runway to evaluate options

Flash note

TMT

17.02.20

Nanoco Group — Patent infringement lawsuit filed against Samsung

Update

TMT

05.11.19

Nanoco plc — Suspension of estimates

Update

TMT

16.10.19

Nanoco Group — Pursuing new sources of commercial income

scott-webb-s58uyQWc42Q-unsplash (1)

Update

TMT

24.06.19

Nanoco — Major customer not moving to production

edison tv

TMT

15.04.19

Executive interview – Nanoco

research

TMT

25.01.19

Nanoco Group — Contract extension with major partner

Flash note

TMT

24.12.18

Nanoco — Milestone payment: On track with major client

Flash note

TMT

13.12.18

Nanoco — On track for an inflection in FY20

scott-webb-s58uyQWc42Q-unsplash (1)

Update

TMT

22.10.18

Nanoco — Building foundations for volume uptake in FY20

edison tv

TMT

19.10.18

Executive interview – Nanoco Group

Update

TMT

15.08.18

Nanoco Group — Delays but visibility of move to volume production

Flash note

TMT

08.05.18

Nanoco — £1.8m milestone payment from major partner

research

02.05.18

Nanoco — Adding a new dimension in 2D materials

scott-webb-s58uyQWc42Q-unsplash (1)

Flash note

23.04.18

Nanoco — Extension of major partnership

edison tv

TMT

20.04.18

Executive interview – Nanoco Group

research

TMT

10.04.18

Nanoco Group — Major US partner to drive significant inflection

scott-webb-s58uyQWc42Q-unsplash (1)

Update

TMT

08.02.18

Nanoco — Rabbit pulled out of the hat

Update

TMT

20.11.17

Nanoco — Moving forward step by step

edison tv

TMT

20.11.17

Executive interview – Nanoco Group

Flash note

TMT

06.10.17

Nanoco — Removal of elephant in the room

Flash note

TMT

09.08.17

Nanoco — Cadmium to be prohibited from October 2019

scott-webb-s58uyQWc42Q-unsplash (1)

Flash note

TMT

22.05.17

Nanoco Group — Next generation display collaboration

Initiation

TMT

11.05.17

Nanoco Group — Quantum leap

edison tv

TMT

05.04.17

Executive Interview – Nanoco Group

edison tv

TMT

17.10.16

Executive Interview – Nanoco

edison tv

TMT

06.05.16

Executive Interview – Nanoco Group

thematic

TMT

28.07.23

MediaWatch – Targeting the opportunities

thematic

TMT

25.04.23

MediaWatch – Vision On

Digital Marketing and Internet Media Technology Platform

thematic

TMT

31.01.23

MediaWatch – Screening well

thematic

Consumer

05.10.22

IPO apocalypse

thematic

TMT

10.08.22

ESG, moving beyond the box tick

thematic

TMT

11.05.22

Direct tech investors

thematic

Consumer

24.03.22

Circular economy business models

thematic

TMT

29.09.21

Quantum dots – all the colours of the rainbow

thematic

TMT

09.09.21

Micro-LEDs – small is beautiful

thematic

TMT

16.08.20

Semiconductor winners – European companies with strong positions

thematic

TMT

24.06.20

The small satellite market – Small is beautiful

thematic

TMT

08.04.20

European video games: A safe haven in troubled times

thematic

TMT

27.02.20

Blockchain adoption: Implications for the financial services sector

thematic

Consumer

14.08.19

Illuminator: August Update

thematic

TMT

05.08.19

European video games

thematic

TMT

10.07.19

Diversification and scale for online success

thematic

TMT

08.05.19

5G – Strategic importance, but lacking a near-term commercial driver

thematic

TMT

26.02.19

UK video games – Heterogeneous not homogeneous

thematic

TMT

24.02.17

Mobile ecosystems

thematic

TMT

08.02.17

Mobile ecosystems

thematic

TMT

13.10.15

Mobile ecosystems

thematic

TMT

23.03.15

NZ – Edison talks tech

thematic

TMT

23.03.15

AUS – Edison talks tech

thematic

TMT

18.03.15

Mobile ecosystems

thematic

Consumer

11.11.14

Deutsche Börse Eigenkapitalforum 2014 Research Guide

thematic

TMT

15.10.14

Mobile ecosystems

thematic

Energy & Resources

04.03.14

ASX Spotlight Conference – London, 6 March 2014

thematic

Energy & Resources

01.03.13

ASX Small to Mid Caps Conference – London, 7 March 2013

thematic

TMT

24.09.10

The third pillar

thematic

TMT

10.09.10

The real disruptor

thematic

TMT

27.08.10

Merger mania is back