BRN Discussion Ongoing
- Thread starter TechGirl
- Start date
Posted by FF on the other side.
White Horse
Regular
Hi Pom,I though he also said that 9 million maybe this year but probably next
I just listened to the AGM again, or at least parts there of.
The bookings that Sean is tied to this year is US$9mil.
And by bookings they mean, Contract signed, and or Purchase Order, in hand.
On royalties this year, unlikely but possible.
HI,
Where did you listen to the AGM 2025 I can't see it on the website.
Cheers, apparently it's on BRN investor relation page, but I can't find it?
Valuation: $Aus1, seems fair IMO.
I think it's a paid report, if you look at the last page, it's like a Pitt Street report but still they have to be realistic, and it gives you a very good overview of the company.
Parts of page 1 below:
05 May 2025
On the edge of a breakthrough
Brainchip’s technology has the potential to be implemented in the field of
Edge AI and recent research/licensing deals they’ve secured indicate the
growing interest in the capabilities and prospects of the Akida platform.
Key Messages
Potential game-changer for Edge AI adoption: Brainchip’s neuromorphic
technology can handle complex computations and enable AI applications but at a
lower power consumption. These are essential for Edge AI, which is the next area
of growth given it could address the constraints of current AI infrastructure. Their
technology had been explored by NASA, US Air force (AFRL), Mercedes Benz and
eventually licensed by companies in semiconductor and space industries. We
believe Brainchip is set to secure more licensing deals with the recent introduction
of Akida 2.0 and TENNs architecture and eventual release of newer products.
Strong management execution and expertise: Despite challenges in
commercialization, funding, and retirement of co-founders, Brainchip furthered the
development of Akida, regained some research/licensing deals, and attracted key
personnel with extensive background in semiconductors, AI, robotics, and
experience with companies such as Qualcomm, HP, IBM, Intel, and ARM Holdings.
Investment Thesis and Valuation
Potential acquisition target: Over the years, there has been increasing investments
being made into Edge AI and neuromorphic computing. An established company
(i.e. ARM Holdings, NVIDIA, Intel etc) looking to expand into these fields may acquire
BrainChip, given the capabilities and potential of the Akida IP platform.
Valuation of $1.00: We valued Brainchip through several methodologies using
scenario analysis (+291% upside), M&A comparables (+265% upside) and real
options (+712% upside). At the current share price, BRN is trading at a 16x premium
relative to FY24 NAV and 17x relative to FY24 NTA.
Catalysts and Risks
More licensing deals amid increasing Edge AI adoption: We expect more licensing
deals to be announced in the next 12 months, amid the recent release of their new
architecture called TENNs and increasing growth of the Edge AI environment.
Risk to investment thesis: The key risks that Brainchip faces are uncertainty on
further licensing deals, realization of royalty revenues, pace of Edge AI adoption,
funding for R&D and commercialization.
NOTE: Strong management execution and expertise!
Now that should really get them going over at the HC, LOL.
Last edited:
White Horse
Regular
Hi Ob,
I recorded it on my desktop, using a video capture program.
I would put it up, but the file is huge.
MDhere
Top 20
yep i asked the question of royalties to which they said unlikely but def a yes to revenue which i believe it to form part of the 9mil this year.
MDhere
Top 20
yep exactly as i heard it, thanks WH
White Horse, are you able to put the AGM video into dropbox or something so people can watch (or rewatch) as the case may be?
Or post on youtube?
Fullmoonfever
Top 20
Thought I'd check what the outcome, if any, was with the above enquiry through DeGirum for access to Akida.So, like most, I've been checking out diff partners sites when I get the chance and this guy popped up on DeGirum from a couple of days ago.
Profile isn't public but full name is, so I searched that and this guy below stood out as a co-author on a paper from late last year titled "Spiking neural networks for autonomous driving: A review".
It was also co-authored by someone affiliated with VW and did contain sections on Akida as well as some other processors so I presume, rightly or wrongly, it could be this R Parada.
If so, it would appear he would like to get his hands on or run some models / code on Akida.
DeGirum can assist by the looks with their hosting set up.
Maybe BRN HO shpuld flip him a PCIe or M.2 to play and research with.
Further details of the paper etc below.
Create customized SNN code
Hi, I’m interested in the neuromorphic hardware available, Akida. How can I create my own code to be launched in the platform? Thankscommunity.degirum.com
View attachment 77539
View attachment 77540
View attachment 77544
Raúl Parada Medina, PhD - CTTC | LinkedIn
IoT research specialist within the connected car project at a Spanish automobile… · Experiencia: CTTC · Educación: Universitat Pompeu Fabra - Barcelona · Ubicación: Castelldefels · Más de 500 contactos en LinkedIn. Ver el perfil de Raúl Parada Medina, PhD en LinkedIn, una red profesional de más...es.linkedin.com
Tha paper published Oct last year (didn't search if previously posted here).
View attachment 77541
The requestor looked like a reasonable connection to have playing with Akida.
Appears maybe not just SH's they struggle to communicate with
Bit disappointing given this simple request started in Feb....is it BRN or is it DeGirum
Food4 thought
Regular
Brainchip’s technology has the potential to be implemented in the field of
Edge AI and recent research/licensing deals they’ve secured indicate the
growing interest in the capabilities and prospects of the Akida platform.
Key Messages
Potential game-changer for Edge AI adoption: Brainchip’s neuromorphic
technology can handle complex computations and enable AI applications but at a
lower power consumption. These are essential for Edge AI, which is the next area
of growth given it could address the constraints of current AI infrastructure. Their
technology had been explored by NASA, US Air force (AFRL), Mercedes Benz and
eventually licensed by companies in semiconductor and space industries. We
believe Brainchip is set to secure more licensing deals with the recent introduction
of Akida 2.0 and TENNs architecture and eventual release of newer products.
Strong management execution and expertise: Despite challenges in
commercialization, funding, and retirement of co-founders, Brainchip furthered the
development of Akida, regained some research/licensing deals, and attracted key
personnel with extensive background in semiconductors, AI, robotics, and
experience with companies such as Qualcomm, HP, IBM, Intel, and ARM Holdings.
Investment Thesis and Valuation
BrainChip Holdings Ltd is an Australia-based
company established in 2004 and developed
the Akida technology, a neuromorphic
computing approach that mimics the way
the human brain works, thereby providing
higher performance and efficiencies. It looks
to apply its technology to the edge AI sector,
which covers multiple industries such as
automotive, industrial, healthcare,
consumer, and space/aerospace.
Key Data
Valuation (A$) 1.00
Current Price (A$) 0.255
Market Cap (A$) 516
30D Ave Turnover (A$m) 2.32
Trim Capital forecasts
23A 24A 25E 26E
Adj NPAT ($m) (29) (24) (30) (32)
EPS adj (c) (0.9) (0.9) (0.8) (0.8)
EPS gwth (%) 32.1 0.0 -14 0.5
Potential acquisition target: Over the years, there has been increasing investments
being made into Edge AI and neuromorphic computing. An established company
(i.e. ARM Holdings, NVIDIA, Intel etc) looking to expand into these fields may acquire
BrainChip, given the capabilities and potential of the Akida IP platform.
Valuation of $1.00: We valued Brainchip through several methodologies using
scenario analysis (+291% upside), M&A comparables (+265% upside) and real
options (+712% upside). At the current share price, BRN is trading at a 16x premium
relative to FY24 NAV and 17x relative to FY24 NTA.
Catalysts and Risks
FY Year End - - - -
- - - -
PE adj (x) - - - -
DPS (c) Div yield (%) - - - -
ROE (%) PB (x) 27.4 25.4 50.0 32.0
12- Month Share Price Performance
More licensing deals amid increasing Edge AI adoption: We expect more licensing
deals to be announced in the next 12 months, amid the recent release of their new
architecture called TENNs and increasing growth of the Edge AI environment.
Risk to investment thesis: The key risks that Brainchip faces are uncertainty on
further licensing deals, realization of royalty revenues, pace of Edge AI adoption,
funding for R&D and commercialization.
$0.50
$0.40
$0.30
$0.20
$0.10
$0.00
$0.50
$0.40
$0.30
$0.20
$0.10
$0.00
May-24 Jul-24 Oct-24 Jan-25 Apr-25
Source: LSEG
Glen Wellham, Senior Analyst
glen.wellham@trimcapital.com.au
Mark Tomlins, Senior Analyst
mark.tomlins@trimcapital.com.au
This research report and any access to it, is intended only for wholesale clients within the meaning of the Corporations Act 2001 of Australia.
The company covered in this report is currently or may in the future be a research client of Trim Cap Pty Ltd (AR 1276369, ABN 87643977351) a Corporate Authorised Representative of
Trim Capital Pty Ltd (AFSL 526147, ABN 87643977351).
trimcapital.com.au See important disclosures and disclaimers at the end of this report.
Edge AI and recent research/licensing deals they’ve secured indicate the
growing interest in the capabilities and prospects of the Akida platform.
Key Messages
Potential game-changer for Edge AI adoption: Brainchip’s neuromorphic
technology can handle complex computations and enable AI applications but at a
lower power consumption. These are essential for Edge AI, which is the next area
of growth given it could address the constraints of current AI infrastructure. Their
technology had been explored by NASA, US Air force (AFRL), Mercedes Benz and
eventually licensed by companies in semiconductor and space industries. We
believe Brainchip is set to secure more licensing deals with the recent introduction
of Akida 2.0 and TENNs architecture and eventual release of newer products.
Strong management execution and expertise: Despite challenges in
commercialization, funding, and retirement of co-founders, Brainchip furthered the
development of Akida, regained some research/licensing deals, and attracted key
personnel with extensive background in semiconductors, AI, robotics, and
experience with companies such as Qualcomm, HP, IBM, Intel, and ARM Holdings.
Investment Thesis and Valuation
BrainChip Holdings Ltd is an Australia-based
company established in 2004 and developed
the Akida technology, a neuromorphic
computing approach that mimics the way
the human brain works, thereby providing
higher performance and efficiencies. It looks
to apply its technology to the edge AI sector,
which covers multiple industries such as
automotive, industrial, healthcare,
consumer, and space/aerospace.
Key Data
Valuation (A$) 1.00
Current Price (A$) 0.255
Market Cap (A$) 516
30D Ave Turnover (A$m) 2.32
Trim Capital forecasts
23A 24A 25E 26E
Adj NPAT ($m) (29) (24) (30) (32)
EPS adj (c) (0.9) (0.9) (0.8) (0.8)
EPS gwth (%) 32.1 0.0 -14 0.5
Potential acquisition target: Over the years, there has been increasing investments
being made into Edge AI and neuromorphic computing. An established company
(i.e. ARM Holdings, NVIDIA, Intel etc) looking to expand into these fields may acquire
BrainChip, given the capabilities and potential of the Akida IP platform.
Valuation of $1.00: We valued Brainchip through several methodologies using
scenario analysis (+291% upside), M&A comparables (+265% upside) and real
options (+712% upside). At the current share price, BRN is trading at a 16x premium
relative to FY24 NAV and 17x relative to FY24 NTA.
Catalysts and Risks
FY Year End - - - -
- - - -
PE adj (x) - - - -
DPS (c) Div yield (%) - - - -
ROE (%) PB (x) 27.4 25.4 50.0 32.0
12- Month Share Price Performance
More licensing deals amid increasing Edge AI adoption: We expect more licensing
deals to be announced in the next 12 months, amid the recent release of their new
architecture called TENNs and increasing growth of the Edge AI environment.
Risk to investment thesis: The key risks that Brainchip faces are uncertainty on
further licensing deals, realization of royalty revenues, pace of Edge AI adoption,
funding for R&D and commercialization.
$0.50
$0.40
$0.30
$0.20
$0.10
$0.00
$0.50
$0.40
$0.30
$0.20
$0.10
$0.00
May-24 Jul-24 Oct-24 Jan-25 Apr-25
Source: LSEG
Glen Wellham, Senior Analyst
glen.wellham@trimcapital.com.au
Mark Tomlins, Senior Analyst
mark.tomlins@trimcapital.com.au
This research report and any access to it, is intended only for wholesale clients within the meaning of the Corporations Act 2001 of Australia.
The company covered in this report is currently or may in the future be a research client of Trim Cap Pty Ltd (AR 1276369, ABN 87643977351) a Corporate Authorised Representative of
Trim Capital Pty Ltd (AFSL 526147, ABN 87643977351).
trimcapital.com.au See important disclosures and disclaimers at the end of this report.
HopalongPetrovski
I'm Spartacus!
Hi MD,Hi Tech,
I don't believe they said yes to revenue but they said unlikely royalties. Revenue I believe is part of the 9 mil usd which was stated this year.
I don't think i heard wrong. They have 7 months. Bring it on BRN
There is the $1.8M US from AFRL, $0.8M of which goes to RTX.
MDhere
Top 20
ching ching ching ching
Food4 thought
Regular
Depression has set in
Fullmoonfever
Top 20
Be good to get a crack at this space with partners like BeEmotion and Emotion3D.
From a late April article.
www.edge-ai-vision.com
I know Emotion3D have a research project as below, which includes neuromorphic, and is part of a wider consortium that also includes MB.
Concern I have is they may be Euro centric and look to euro neuromorphic competitors for solutions / testing.
emotion3d.ai
Within this project, emotion3D is working towards the optimization of driver monitoring functions towards planning the driver’s work to predictively help avoiding dangerous situations.
Partners: 49 European partners including Huawei | TTTech | Synopsis | Mercedes Benz | AVL
Funding agency: This project is funded by the HORIZON-JU-Chips-2024-2-RIA Program.
More information available at https://www.aiqready.eu/
From a late April article.
Automotive OEMs Integrating AI into In-cabin Sensing - Edge AI and Vision Alliance
Integration of AI into In-Cabin Sensing – Automotive OEMs Making Full Use of Software to Enable Advanced Features As regulatory frameworks such as the EU’s Advanced Driver Distraction Warning (ADDW) near enforcement, automotive OEMs are increasingly integrating in-cabin sensing technologies with...
www.edge-ai-vision.com
I know Emotion3D have a research project as below, which includes neuromorphic, and is part of a wider consortium that also includes MB.
Concern I have is they may be Euro centric and look to euro neuromorphic competitors for solutions / testing.
Innovation - emotion3D
emotion3d.ai
A-IQ Ready
A-IQ Ready addresses two major Trends: “Internet of Things (IoT): From 1 Billion $ to 1 Trillion $ revenues ” and “From Cloud to Edge”. A-IQ Ready will apply 3 disruptive technologies: Quantum Sensor, neuromorphic acceleration, AI in multi-agent systems to build the edge continuum as the digital backbone for the Society 5.0. A-IQ Ready proposes cutting-edge quantum sensing, edge continuum orchestration of AI and distributed collaborative intelligence technologies to implement the vision of intelligent and autonomous ECS and to deliver A-IQ IoT for the digital age.Within this project, emotion3D is working towards the optimization of driver monitoring functions towards planning the driver’s work to predictively help avoiding dangerous situations.
Partners: 49 European partners including Huawei | TTTech | Synopsis | Mercedes Benz | AVL
Funding agency: This project is funded by the HORIZON-JU-Chips-2024-2-RIA Program.
More information available at https://www.aiqready.eu/
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