Good morning and welcome to the opening report of 2026! I'm not expecting much news today, but let's have a look!
Spreadsheet accompanying this report: link (updated to 16/12).
Companies Reporting
| Name (Mkt Cap) | RNS | Summary | Our View (Author) |
|---|---|---|---|
Boku (LON:BOKU) (£623m | SR53) | The board has approved the buyback of up to 4 million shares (current share count: 297 million). Shares purchased may be used to satisfy warrant holders or the staff bonus programme. | ||
Public Policy Holding (LON:PPHC) (£267m | SR44) | “A senior professional with an established client portfolio” has joined a PPHC subsidiary. Consideration payable is up to $1m, depending on performance targets in 2026 and 2027. | ||
Seeing Machines (LON:SEE) (£265m | SR28) | This is a dedicated team within Seeing Machines that “will work collaboratively with global customers to embed Seeing Machines' next-generation driver and occupant monitoring system (DMS/OMS) technology into their autonomy products and services”. | This is an RNS Reach announcement, i.e. a non regulatory press release. | |
Invinity Energy Systems (LON:IES) (£107m | SR9) | Revenue and project grant income for 2025 of approximately £17m. Order book plus “substantial pipeline of potential order for 2026 and beyond gives significant confidence in the future prospects of the company”. | BLACK: the 2025 revenue forecast on StockReport is £18.8m, and Longspur Research had forecast 2025 sales of £20.7m, so the £17m figure provided today like a miss to me. | |
Tap Global (LON:TAP) (£16m | SR16) | Revenues +31% to £3.5m. Loss before tax £5.7m after a £4.7m goodwill impairment. The CFO has resigned, new Head of Finance appointed. The company “enters FY26 with a clear pathway to monetising the infrastructure now firmly in place.” |
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