Wyld Networks - Strong establishment ahead of launch - Mangold Insight Analysis

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Wyld has established eight new partnerships and generated a total orderbook value of approximetely MSEK 32 (excluding data revenue), corresponding to approximetely 92 000 Wyld Connect units. The order book is expected to be further increased prior to the launch later this year. Mangold had predicted that the launch of the full-scale satellite service would take place in September and has now postponed the expected launch to December. The costs were slightly higher than expected, which means that Mangold is upwardly revising the cost estimate for 2022 and beyond.

Wyld continues to set up partnerships within sectors such as public utility services, agriculture, energy, logistics, and more. The company has now entered into collaborations with 30 companies in 21 markets, which is considered a stable foundation for the launch and subsequent revenue. Wyld has subscription warrants of series TO2 and TO3, which can bring in a maximum of MSEK 73.3 and is deemed to be sufficient until expected profitability in 2024. 

Mangold is reducing the price target to SEK 30.00 (33.00) per share, corresponding to an upside of over 170 percent. The reduction is justified by higher costs than expected, and the fact that the launch of Wyld's full-scale offer is expected to be delayed until the end of 2022. Wyld has an order value of MSEK 32, excluding data revenue, and eight new partnerships, which is seen as an acknowledgement of demand for the company's services. An important trigger for the company is a successful launch at the end of 2022.