Evome Medical Technologies Inc V.EVMT

New Press Release - Evome Medical Technologies Announces Update Call with CEO Mike Seckler for Tuesday, June 4, 2024; Provides Update on Strong Q2

NEW YORK, June 03, 2024 (GLOBE NEWSWIRE) -- Evome Medical Technologies Inc. (the “Company” or “Evome”) (TSXV: EVMT) today provided details on preliminary estimated revenues and margins from April and May 2024, the first two months of the second quarter. Mike Seckler, Chief Executive Officer of...read article.

[IceDog13]

That call was short and sweet. Didn't say much that wasn't in the press release. To bad they didn't take any questions.

[snootchybootchy]

All my microcap stocks moved up today, and my microcaps with any sort of debt made HUGE moves up today. But EVMT stayed put. This is what happens when a new, unknown CEO fails to deliver what he promised (cutting costs).  I think he can still turn this ship around but clearly the market is taking a wait and see approach now.

[subaru1]

You are absolutly right, missing the boat, i don't know what was the idea for this update call, we didn't learn anything new and it was done for specialist in accounting, not clear at all, anyway the market is speaking down we go and it is a 3 years low, how a CEO can be happy of it, by the way he sound like a one man show.

[taylorsimms86]

Obviously based on where the stock is you are right and I am wrong...but the facts are that what Seckler has done in 3 quarters is cut overhead and op costs significantly, sell assets and reduce debt, re-jig the Biodex facility to streamline ops and increase capacity, annouce further divestiture of the rest of the non-core assets to eliminate all the acquisition debt, also announse that the

[snootchybootchy]

I think it was Q3 of last year when the new CEO made some progress in cutting expenses. And then that progress continued into Q4 last year. But then we saw a big 34% YoY jump in expenses in the latest financials. And that 34% increase in expenses only lead to a 13% increase in revenue YoY. This is what I mean by failing to deliver. This is not progress.  Sounds like things are going to

[taylorsimms86]

The costs were associated to divesture of first asset and the re-jigging of the Biodex facility. Those are both one time items and not ongoing

[snootchybootchy]

I understand expenses can be incurred during a divestiture process but the revenue from a divestiture typically outweighs these costs. Maybe this cannot be blamed solely on the new CEO as these assets were acquired before his tenure but he was the one who promised shareholders he would cut costs and the level of expenses (in relation to revenues) in the latest fnancials was really unexpected.

[Trekkie]

Rising age population means that the rehab space will be huge. Medical equipment is always needed.  It will always be in large demand. Biodex rehab equipment is well known and well produced.The Ceo has focussed on this part of the business which is smart. This has a lot of potential for upside and they are increasing sales. They will pay debt down and focus on more growth. 

[Trekkie]

Q1 wasn't only affected by the divestiture. It was also affected becuse they had to retool their product facility in January in order for stronger growth for the future.