Is this significant?
The market seems to think so but on low volume
https://www.nzx.com/files/attachments/230829.pdf
Boop boop de do
Marilyn
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Is this significant?
The market seems to think so but on low volume
https://www.nzx.com/files/attachments/230829.pdf
Boop boop de do
Marilyn
Did Orion indicate to find a partner before? Is this a change in direction because its original approach has not worked? Would cash burning accelerates and thus ask for new capital in near future? An announcement without financial figures does not mean much to me. Desperate for something?
Excerpt from local research analyst view on the Cognizant deal: "As a platform as a service contract OHE will receive a fee per member Cognizant puts on the platform and it is usual for these agreements to have minimum amounts. As such we envisage it is quite possible this agreement could deliver US$20m to US$30m of revenue to OHE within a few years and it could start making a contribution in the second half of 2016. Realistically this could be bigger than CalINDEX longer term."
Sentiment has been overwhelmingly negative on this board. Market action on Friday suggests we might have found the bottom.
Precision Medicine, Amadeus compliant : HIPAA compliance, cyber security, advanced authentication of users, and cloud storage are taken care
https://orionhealth.com/us/solutions...on-developers/
https://nz.finance.yahoo.com/news/ho...152856089.html
https://powermore.dell.com/technolog...rom-the-start/
This company seems to be finally coming into favour some significant contract announcements in the last month. The share price has just crossed the 180 day moving average
Orion seems to finally be getting some momentum "Largest Queensland health service signs with Orion Health"....https://www.nzx.com/companies/OHE/announcements/280401
Up and up ........ and up
I got into this only a short time ago and am enjoying the ride.
looking good.., all the way back to 5 dollar my target...,
One hell of a shift in sentiment for OHE in the last few months.... surprising what a few contract announcements can do. Up nearly 5 percent on this mornings announcement.
I've owned shares in both and while they are both active in potentially very large markets, I think they are quite different. I sold all my WYN last month, having given up on their management team's ability to execute (and averaged down, which is a basic rule of mine that I should not have broken!) I bought OHE in the IPO, sold out at a small loss and bought back in a few months ago - didn't pick the bottom but not too far off it.
I think OHE management have shown they can build a profitable and successful traditional software license business. Now they are transitioning to PaaS and have invested heavily to initiate that. They are now consistently signing up customers in different jurisdictions. It looks to me like they know how to execute. While it seems to have stretched too far too quickly, I think any pullbacks will be well-supported by institutions (and I will also be on the bid in a small way).
Technicals are also very supportive of the idea that a bottom has been found. Confirmation will be if / when dips arise.
The profit might come quicker then most ppl think. Heard on the radio the ceo is talking about turning to profit soon.
OHE continues to rise on grater tan average volume, attracting minimal comment. Suggests to me that the institutions are buying. Perhaps we will see another positive announcement soon that will drive further gains. Disc: bought in the IPO, sold soon after at a loss, bought back in on the dip below $3 and still buying.
Bought inb at $3 not that long ago and topped up at $4.20 It continues to be an amazing ride! :t_up:
already reach my target price of 5 dollar soon
At first glance today's result seems encouraging and confirming.:t_up:
https://nzx.com/companies/OHE/announcements/282801
Didn't quite hit my forecasts.Due to change to SAAS model?Increase 17/more in 2018
In my view need more runs on the board in USA where they appear to have put a lot of effort in.Now decreasing staff numbers to improve profitability
Europe looking good 59% revenue growth,increasing recurring revenue
Where are they on uptake in NZ & Australasia?When I have asked Health Professionals here about Orion Health they seem to never have heard of it???
Positive 30%TO into R & D.Developing large MOAT?
Revenue guidance 20% revenue growth:1200 staff,modest growth next year,automation increases revenue compared to staff numbers.
Fx based on constant currency.
Recent contract with Cognizent new business significant customer.Start new revenue late 17,full revenue 2018.
North America: SAAS: Revenue growth
AMEA: Perpetual Licence,Future is subscription model
Geographically diverse
R & D development precision medicine increasing spend,research in Auckland,adding machine learning to existing products to make sense of increase in data.
The result was positive yet the shareprice seems to be going down.. not understanding whats going on? is there something I am missing? Is there something other shareholders know that I cant see?
You missed the increase in share price from $2:50 to $4:60 in the last 3 months.It is NORMAL that a share price doesn't straight line upwards.The rise was in anticipation of good result and the fact that OHE was under priced relative to other SAAS companies.The market may have been anticipating higher than 26 % increase in revenue as well(on a constant currency basis sales only rose 12 per cent).Now we have to wait until 2018 to see its potential.Hopefully OHE will hold true to the fact they say they have enough funds to see them through to break even.
fair enough comment.. i am just responding as in does the market or old players receive their information from special sources (softwares? Fund managers information etc) that the general or new investors are not aware of? I picked up that this company was undervalued way back.. but just not understanding the reaction to the annual result.
Personally I think company is much more solid and capability to be a huge success based on the type industry it is in. Xero has many direct competitors providing same/similar solutions.. and its an old industry with established players. However Xeros product is great.
in my opinion Orion has a great product which has taken years to develop and it is in an industry that is ready for change. Orions product is the type that can change how hospitals operate and handle information. HOWEVER there is massive risk regarding access to data and potential to cause life threatning issues etc.
Anyway time will tell.
So much for an informed market that represents all possible available information. I've noticed before how seemingly obvious market-impacting news comes out yet the NZ market takes some time to react. I'm guessing that institutions can't respond instantly - perhaps some decision-making process before committing funds? And perhaps it takes them time to digest new research on results (broker analysis, NBR stories etc). Overseas, it all seems to happen in an instant and the price moves. Here, there was plenty of time and opportunity to get involved, up to 12% below today's closing price, after the results came out. Great market to trade and meanwhile, this stock, one of our largest tech companies by mkt cap, continues to attract little attention. I look forward to it hitting the headlines when the stock is back above $6 and higher. Disc: still long.
Whats up people?
I concur that data is worth heaps,and who owns it?The patient or OHE?
http://www.nzherald.co.nz/business/n...ectid=11678678
"As businesses increasing digitalise their operations" perhaps the Heralds "digital journalist" should consider learning a bit of grammar. Big data means a lot to big enterprises, but not much to the majority of small businesses that make up NZ. If OHE were to go into big data it would mostly have value to the MoH for population health planning, and big Pharma to see who's using their drugs and what for, but that's about all that could really make\save money with it.
What you need to get the most out of Big Data type operations is a lot of smaller datasets to be joined up. In healthcare this would mean all the hospitals and GP's sharing data into a single digital record (which would be a big but not insurmountable technical challenge, notwithstanding the privacy concerns).
Xero would be well ahead of the curve on this by way of having all those small businesses pushing their data into the cloud. They probably have the capacity to be more accurate than treasury or even IRD when it comes to economic forecasting.
1)Also a benefit to insurance Cos
2)"In healthcare this would mean all the hospitals and GP's sharing data into a single digital record" Isn't it here already/here soon?
https://orionhealth.com/global/about...mme-announced/
https://www.managemyhealth.co.nz/
True, I forgot about the health insurers (and ACC I guess).
Medtech pretty much dominates the GP\Primary practice sector.
CSC Health (formerly iSOFT\IBA Health) dominates the tertiary (hospital) sector, at least at a Patient Admin System level (they pretty much all use either WebPAS or iPM both of which are CSC products) and the Meds management area (iPharmacy, ePharmacy, MedChart).
And Lab results are usually in a Sysmex program (Eclair or Delphic).
You don't involve any of those players, you got nothing.
Orion mostly does what's called a Clinical Portal (called Concerto) which pulls data from the systems above into a single view for the clinician and lets them add notes, discharge summaries etc. It's clever and useful for the clinician to be able to see lab results alongside the reason the patient was admitted and the X-Rays etc, but most of the data you see in Concerto isn't Orions to use\sell etc. It's come from other providers. Now the DHB can team up with whomever it likes to look at that data etc, but they have to lead it. And once you want to go beyond one DHB, things get really complicated.
Big drop!:confused:
Buy at $4.20 area. Stopped there before. Next news comes out - will be back above $5 very quickly.
Just whistling into the wind - or do you have some insider information you want to share with us?
I guess the trend is currently not your friend (if you hold), though they are still above the MA200.
If the next news is good, than yes, SP is likely go up, at least for some time (its a speculative share after all), but what if the news is bad?
Didn't follow them for some time, but just discovered that analyst consensus seems to be they might be cash flow positive in 2019. Do they have enough cash to trade through to profitability? If no, than at least one of these news might not be good for the SP;).
No special info though analysts still value at $5.00+. I trust the management track record of this company and expect them to deliver more contracts. I sold some above $4.80 and starting to nibble back in. Prefer to wait for indication of a base but this can move very fast once it starts so happy to improve my average.
Hmm - this the news you were waiting for to bring the SP back to $5?
https://www.nzx.com/companies/OHE/announcements/288285
Must be embarrassing for the new director - announcement out and SP dropped a further 10 cents.
I am sure it is just coincidental ...
Discl: not holding and no intention to change this in the near future ...
Yeah, have seen that as well. Sadly, particularly in the case of speculative loss making companies like OHE there is typically very little correlation between analyst forecasts and share prices achieved. Just look at the analyst forecasts for e.g. WYN (SP 89% below forecast a year ago), IQE (SP 84% below forecast), ERD (SP more than 50% below forecast), or - during their respective hey days CRP or RAK - and check what the respective shares have been worth a year after the sometimes spectacular forecast?
Obviously - there are as well companies well exceeding analyst consensus (CVT is one of them - SP currently more than twice the analyst forecast a year ago, EBO and FPH as well well exceeded the analyst forecasts by roughly 55% each, GTK 40% above "consensus" forecast), but than, all the latter companies are neither speculative nor loss making. Maybe earnings do count after all?
4.oo is a key level...
Now 3.95
Lets hear well timed good news, get holders happy before annual meeting 2 weeks.
Just wondering - you guys still happy with your acquisitions?
Sorry, I don't want to pick on you, but this might be an excellent lesson for other investors in how difficult (or lets say impossible) it is to pick "bottoms" with any certainty. Sp currently testing the $3 - and I wouldn't dare to predict a bottom.
Obviously - there is as well the WYN example in investors mind ... and the election uncertainty is unlikely to help. A president Trump would not buy anything New Zealand made.
Interesting .... announcing the interim results date - and SP is dropping by another 4%. There must be some quite confident holders around.
On the other hand - President Trump became reality. He will disassemble Obamacare "before lunchtime" - and any private heath insurances with focus on their balance sheets won't need OHE products - it is much easier to rise the premiums and remove any clients with health problems.
Has OHE enough funds to get through the next 8 years (plus whatever it needs to reestablish a public health system)?
The private providers will focus on maximising their balance sheets by driving operational efficiencies and looking to limit liability for any mistakes. So ePrescribing and Medications Management software (which lets you better administer drugs etc) will be a useful area to be in, rather than the integration portal stuff that OHE makes. Population Health stuff might still be of use to the larger insurers that can use it to more accurately calculate premiums.
OHE approaching 52-week and all-time lows, almost 100% retrace of the Feb-Jun rise. Is the company really so broken as to deserve such a SP walloping since IPO?
Yes, this is (depending on the perspective) either a very ugly (for holders) or a fascinating chart (for everybody else). I guess from a technical perspective there might be a chance for a bounce at the 250 mark, but without positive news I don't see that coming.
From a fundamental point of view - I guess they are not (yet) as screwed as WYN (they do have some revenue worthwhile mentioning - but their expenses keep being higher than their income), but in a way comparable. If they manage to close some of the big contracts in the US they are hoping for, than their share price will move into the stratosphere. However - if they don't, than they will be for a long time in loss making territory with future capital risings in view.
How likely is an "America First" Trump administration to put big bucks into a small New Zealand Software company? How likely is an administration which puts the Rich first to put money into a public health system (which would benefit from OHE software)?
You tell me, but I certainly don't expect any good news from the East Island anytime soon.
Maybe they should book the president suite in the Trump tower and fool a bit with the president elect in his hotel spa around ... this might materially improve their chances?
Some speculation; It is now obvious that Obamacare has been a complete disaster and that something different will be needed to replace it.
Unforunately there are so many pigs gorging at the US healthcare trough that nothing will be achievied without a great deal of grunting squealing and time wasting.
If I was a US healthcare provider I would be sitting on my hands wondering what sort of beast was going to come slouching towards me and not committing to buying software implemetations which may have no relevance under the new regime, whatever it is.
Boop boop de do
Marilyn
Operating loss of 17 mil but looking forward to its first profit next year , Hmmmm !
Haven't been following this but it looks like faith and hope need to be a part of an investors criteria.
Orion Health Announces 1H2017 Interim Results
might need a CR next year
And so once more it is uttered, "We are well positioned :p for a significantly improved 2H2017 and the company remains focussed on driving to profitability through global expansion.............."
disc: not a holder
Obviously little credibility with the market - down 32c/12.8% on larger volumes
All time low.
Glad to see people are starting to wake up to this one. A capital raise looking likely from a quick gander at those numbers, not that they could forecast that, they couldn't (or wouldn't) provide a forecast on IPO day.
Are we looking at the next Wynyard here?
DISC: Never held.
Wouldn't want to repeat H1 cash burn of $33m with only $24m in the bank would they
Doesn't look too good does it, this statement is a worry, very ambiguous:
"Cash balances at 30 September stand at $24m. The net cash outflow for the period of $33m reflects the Operating Loss of $17m and an abnormally large movement in working capital items. The outlook for continuing revenue growth and improved EBIT is such that we believe that the company has sufficient cash and facilities to execute its strategy until profit is generated, which we expect to occur in FY2018."
- loss therefore has a $16m "abnormally large movement in working capital items" (not specified).
and
- sufficient cash and facilities (unspecified)
- barely any revenue growth but "profitable in FY2018" (unspecified).
Very vague, rather disconcerting. Not to mention the acknowledgement of US market 'challenges' and yet it is the largest most critical market to OHE.
No wonder the market is uncertain and giving the SP a right royal hiding today. Down 2/3rd's from IPO. Not a good look, not good at all.
Which may also beg the question, why did they IPO with such a high SP? $5.70 wasn't it? That's a huge market cap for a company making massive losses without a large cash reserve... Jeez, Xero got to that sort of market cap only after Peter Thiel threw another $50m of his own money into it (with others).
Disappointing result in terms of growth, basically flat. I think people are especially wary now after WYN...
Once OHE is cash flow positive this company will spit out cash by the truck load, the trick is when will that happen, even if there is a need for more cash in the market they are which is massive they should make it, once that happens they will attract many suitors from the U S, but how long will that take?
Baabaa - that working capital movement is mainly made up of $8.7m increase in trade receivables and a $14.2m decrease in revenue in advance. (Note 12 in Interim Accounts)
Yes thanks, been going through the details and as you say it is specified in the notes, but not in detail, fortunately it's "abnormal" so won't happen again, or would that be 'one-off'? Going to be a long wait for shareholders until FY results in March, which presumably won't be announced until April/May sometime.
I feel for shareholders, this whole OHE thing got off to a dubious start with the IPO pricing and it's been a nightmare since then. Hope it pulls out of the nosedive soon, albeit at some point it will appear to be a bargain buy for those who can assume the (small?) risk that it won't go belly-up.
Just another blow to confidence in the NZX listed Tech sector. Not fatal so far, fortunately.
Well BP, those technicals amounted to nothing (I'm throwing that chart in the bin, there's nothing useful that it can say down here after today) and the market says the news is not good news. Kind of ironic that on the very next trading day after your post, the technical support $2.45 failed bigtime on the HY report news and -45 cents or -18% later the SP is at $2.05. Very unsettling, now the long wait for good news, really really good news.
I am a newbie investor who ignored the warning signs and held onto my Wynyard shares for too long hoping for the best and consequently lost it all along with many others. I am now VERY fearful OHE is going to be another Wynyard so I am very wary of holding and hoping given that didnt work so well last time :( I am thinking maybe it is time to get out now and suck up a loss before it gets even bigger :confused: Be grateful to hear what more experienced investors think of the current situation.
Sounds like here is a man and a (wo-?)man with an agenda ... axes to grind?
You are right, Chris wrote about OHE and indicated that it is an interesting company with huge potential (if & when the stars align) - and I understand that he holds himself a quite sizeable package (i.e. he puts his money where his mouth is). To be fair - he always indicated as well that OHE is a high risk play (which seems to be so far a quite fair assessment).
Sure - he is not always right (who is?) - and does make mistakes (so do I). Still - I think he adds value and I am one of his clients. So far I made more often money from considering his views and following his recommendations, than losing some (in some cases lost opportunity cost).
If you have issues with Chris, why don't you give him a call and talk them through with him instead of badmouthing him in a public forum?
Ian McCrae now calling Orion a hyper-disruptor
As whatsup said once OHE is cash flow positive this company will spit out cash by the truck load
Winner I love that term - hyper-disruptor :)
On a more serious note it looks like the market does not believe what the company has to say about remaining cash reserves being enough to carry through to profitability.
Mind you they may need to raise capital while profitable to accelerate growth.
Jeepers, just checked the charts and feel for holders. 'Death cross' passed. Further downside anticipated.
26-Nov-14 28-Nov-16 IPO Price $ 5.70 % of IPO % of IPO % of High Open Price $ 6.50 14% $ 2.53 -56% -63% High $ 6.79 19% $ 2.53 -56% -63% Low $ 6.20 9% $ 2.00 -65% -71% Close $ 6.27 10% $ 2.05 -64% -70%
The IPO story: https://www.nbr.co.nz/article/orion-...ange-cs-165068
http://www.nzherald.co.nz/business/n...0633708&pnum=2
"Chris Lee, the managing director, wrote to Crone six months before it went into moratorium, saying Strategic "remains one of our preferred providers and their rates are competitive given the reinvestment bonus offered. We rate Strategic as an A-. Strategic has a very high liquidity, an investment grade rating, low bad debts and is well-placed to withstand the difficult conditions in financial markets," Lee wrote on June 13, 2008, in a letter signed by Edward Lee. Strategic defaulted on August 7, 2008.
Post 2008 :
http://www.stuff.co.nz/business/mone...-and-adversity
Chris Lee loaded up his clients' portfolio pre 2008 with finance companies' bonds - Hanover, Strategic Finance, South Canterbury Finance etc etc.
Pre 2008 :
http://www.nzherald.co.nz/business/n...ectid=10459887
Investment analyst and broker Chris Lee also rates finance companies on his website, but says he likes to focus on those good companies, those people should invest in, rather than the bad.
"You've got the dual emotions - what is fair and what will cause queues outside the banks," says Lee.
"There are some companies that are unarguably good - Marac, Strategic, St Laurence, South Canterbury and UDC.
"They are not in the argument and it wouldn't be a bad thing for people to contrast those with Nathans, which was clearly a rubbish company and had been identified - certainly by anyone who does analysis - as a rubbish company a long time ago."
Lee says he correctly identified five of the past six failures as high-risk investments.
"It is possible for an experienced person to get hold of information that allows them to differentiate between the best and the worst.
"None of the As and Bs that we've got have had any trouble."
**** Post scrip ****
Chris Lee has of course deleted any reference to his disastrous and mickey mouse in-house finance company ratings system from everywhere - especially his website.
The thing is, for OHE to be successful (in the manner they want to be) they need large, consistent, joined up datasets to work with. And those datasets simply don't exist for a variety of reasons including patient privacy and assorted govt regulations that forbid joining up such data.
NZ is fairly unique in having an NHI system with a single unique identifier that works across virtually the entire sector. But even that just holds demographic, next of kin data and some allergy and alert data. For virtually everywhere else, the datasets are fragmented practice by practice, hospital by hospital and that's always going to put a big fat handbrake on their ambitions.
So IMHO OHE is on a hiding to nothing and will fast become the next Rakon, where profitability is always just around the corner.
As I still have a bit left on my speculative cash, I just joined the frenzy by getting some at $2.00 and putting a 2 yr horizon on my gut feel. As a new holder, I could really now have a feel on the discussion on this thread :cool:
Back of the envelope - I would value OHE now (flat growth) at around 1.5x revenue or $156m... or around $1. That would be my target for buying in, once they reach break even. OHE SP should be punished more methinks...
I guess with this sort of company growth can be verrry lumpy. But next to zero growth in a single year is pretty pathetic from an investment perspective. At least buy something like HBL - double digit growth and likely to return 10c to shareholders next year. Beats no growth loss making companies any day of the week!
Blobbles, the revenue figure given yesterday is for 6 months bro.
The shares are current trading at your fair value assessment ;-)
These pups are <1% of my portfolio. At least they are today......started the week a little more than 1%. ;)
All of these recent NZ start up software companies have a model of building revenue before their investment capital runs out. Once the revenues and customers are in place the model is to turn down the investment tap (relative to revenue) so that the established revenues can turn into profits. A software platform, once established should be relatively cheap to run and service. So if OHE get the equation right, then big profits can follow.
Judging OHE as an investment requires you to assess how long the software will take to develop, and how quickly the revenues will build. So what we have here is a race to build the softwre product and its market before the investment capital runs out. If you believe that OHE can run their race thgen you should stay invested. If you think they will need to stop by the side of the track for a fuel top up (new capital), then you have to consider that new capital may be issued at a discount, and existing shares will be revalued downwards in tandem.
There is no connection between Wynyard and Orion, other than the fact that if new capital is going to be raised today there may not be as many takers in a broader market. Hence the discounting of any new capital might be higher than it otherwise would be. But WYN and OHE are different horses running on different courses. You have to evaluate any investment oppourtunity like this on its own merits.
SNOOPY
Ouch - dropped through the $2 ... and falling. Quite high volume (well, for the stock) yesterday and today as well - looks like a larger holder wants out.
Thanks for your pearls of wisdom Snoopy. Much appreciated. I decided to cut my losses and get out at $2.05 first thing this morning for my blood pressures sake! May or may not be the right decision in the long run but I am relieved to be out at the moment. ;)Cheers
Hi Snoopy, the thing to remember is that OHE is NOT a recent start up, they might be a recent listing, but they've been around about 20 years from memory. As has much of their software. Hence my comparison with Rakon. They have big inertia in the market to try and overcome, and a regulatory environment that is simply not supportive of what they're trying to do. They can talk all they like about being a hyper-disrupter, but Healthcare is a heavily regulated industry (with good reason) that very definitely does not like to be disrupted.
Thanks for the correction Mondograss. I don't follow OHE closely, so I was not aware of the 20 year history pre listing. I think it is fair to say that OHE only came onto most investor's horizons with their listing. So from most investors perspective it is a new company. And the theory of building scale in their market before the new (since listing) development capital runs (notwithstanding the fact that they have survived on seed capital for 20 years before listing) doesn't change.
SNOOPY
We..... WE ... All of us have learnt from our mistakes.. Today we still make them ... With still much to learn.
You are on the right track Rupert.. :-)))
Do not confuse making a loss with making a mistake.
You make your decision based on available information at the time.
What happens subsequently you use to make your next decision.
But sometimes you get the decision right and make a loss :(
and sometimes you get the wrong decision and make money :mellow:.
Such is life :D
Best Wishes
Paper Tiger
With respect Snoopy, a bit more research might be in order.
Orion Health were a solid privately owned profitable company who had grown nationally and internationally with their premier health sector products, simply put, in patient administration and clinical information systems. They are a dominant provider of these systems with implementations in every DHB (hospital) in NZ and many clients internationally.
There is no notion of 'seed capital' funding the business prior to listing, ergo an early startup or hi-growth company. Orion Health was a mature growing fully funded and profitable entity going into listing.
So what was the purpose of listing?
If I could be so bold as to summarise Ian McCraes vision and intent, he saw a global opportunity, to be at the centre of clinical health care records and patient health care administration, or in other words the aggregator of the health care information universe, internationally.
It is a bold and brave strategy but one borne out of many years of local and international successes and a genuine need, allbeit immensely challenging to create national sector unification of health care records in patient administration and clinical systems. However Orion do actually have viable and proven systems and solutions that go a long way, to achieving that vision.
But that's not the sole reason they listed.
The gist of it is that the vision and strategy required funding way beyond the ability of the company to fund its own strategy and growth, solely out of profits. Hence going public.
So where is the funding going? There are three main sink-holes sucking up the company funding. They are:
1. re-platforming the core technical solutions (this means moving them from a licenced software model to a Software as a Service [centralised] model = very expensive re-write);
2. putting in place the international marketing and sales capability;
3. ramping up support for the growing customer base.
Since then, with a small hundred million or so of investors capital, the company has made significant inroads into their target markets.
But that is all circumspect in the bigger picture that investors are interested in.
Despite growth in target markets, a compelling and viable suite of healthcare administration and clinical solutions, excellent progress in replatforming the solutions, increased effective sales channels and customer support, Orion have a big problem.
The problem is, they're running out of money and the market capital value is being decimated. The market does not like being sold a story without clear evidence (the IPO) and then delivery (the results) of worth, then gutting themselves with repeated naive disclosures that re-enforce the perception of the company's ignorance of investors objectives.
It is obvious that the transition from private ownership to public listing and ownership is difficult, unfamiliar and awkward.
In the medium to longer term my opinion for what it's worth, which may be very little, is that Orion Health are doing all the right things to be a dominant global provider of health care patient administration and clinical systems and perfectly placed as the aggregator of the holy grail of the universal health identity record which is the core of all health care systems.
But it will take a few more truck loads of money from investors and a great deal longer than many expect or hope for, before Orion emerges as the self funded profitable company that it once was and again seeks to be, in the global health sector, albeit a great deal larger if they are successful.
Kansas or bust, it seems to be a common theme with NZ techs.