Wyld Networks - Long-awaited launch completed - Mangold Insight Analysis

Virtual satellite network operator Wyld launched its satellite IoT network service on 8 December, and is now facing an exciting year. The company has an order book value of MSEK 34 (excluding data revenue) and over 40 collaboration partners. Mangold predicts that Wyld will convert the order book into revenue from the beginning of 2023, and believes that the order book will continue to grow. Expenses were in line with Mangold's estimates, but with higher staff costs and lower other expenses than expected.

Wyld carried out a private placement in November of approximately MSEK 7.3, before issue cost, which increased the number of shares by approximately 0.6 million. Wyld generated additional capital through TO2, which was subscribed to 97.6 percent. Wyld was thereby provided with an additional MSEK 19.4. At the end of the third quarter, Wyld's cash balance amounted to MSEK 10.9. Mangold assesses that the capital injection means Wyld is well equipped to scale up sales and achieve profitability in 2024. 

Mangold revises the price target to SEK 29.00 (30.00) per share, corresponding to an upside of approximately 100 percent. The revision is a result of the dilution related to the directed issue of MSEK 7.3. Wyld is facing an exciting year, with a newly launched satellite IoT network service that Mangold believes will generate significant revenue.  
 

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