I agree this AGM did not offer a glowing sense of everything being 'on the up and up for BRN' like the last one.
Apart from unrealistic expectations that some news would drop, I believe the difference between 22 and 23 AGM is partly due to the more reserved approach in delivering it.
They offered a more upbeat picture at the last AGM and look what happens when the ducks don’t all line up to enable those to come to the fore.
This AGM had the team facing a difficult question time and had them needing to present in a way that addressed shareholder expectations from the previous comments made.
eg Sean said last year 'judge me on results', He didn’t say those results were going to be related to income and BRN have actually achieved a lot this year but expectations from last year’s comments were that he should be judged on the $ coming in.
There was probably a conscious decision/effort to deliver the facts only this year, a big effort not to offer any insights into the future potential to ensure everything is black and white, nothing can be misconstrued by the audience which would need to be explained next year.
If great strides occur then they are over delivering at the next AGM.
I liked the honesty and ground zero approach.
It is clear that the current engagements are continuing to shape this companies 'product'.
Akida 1000 was lacking in scope, feedback by the engagements confirmed that they wanted more.
Akida 1000 is good and can still be used in a limited way as a sensor at the edge but companies who have engaged with the team demanded more.
The team delivered Akida 1500 and the second generation which has opened up the scope of our business/tech.
BRN have heard and answered their customer needs. That’s how relationships between businesses are forged.
We are tailoring our product to enable them to use it more widely and with greatest impact on their brand.
What is not to like with that approach?
Introducing Akida 1000 was a step that had to be taken to get the neuromorphic ball rolling for BRN.
It built awareness and facilitated engagements allowing others to test and explore opportunities.
Akida second gen (soon to add third) builds on that foundation and now products may be built in earnest as the customers now have more of their needs met. Happier customers in the long run makes far better business sense.
"Id like a ham cheese and relish toasty please"
"Sorry we only offer ham and cheese sandwiches""
or
"Sure, I think I can do that, just give me a little more time and I'll prepare one for you"
I know which company I’d be returning to, to buy or work with going forward.
Obviously more patience is required so I’ll focus on these few lines out of Antonio’s speech:
"The trajectory we are currently on is the most promising since BrainChip's inception"
and when Antonio answered a question related to the 'request to forecast future revenue' he said something along these lines.
This is very difficult to do.
We meet with the engineers of a potential customer, we use our IP in their product and both see the incredible benefits of this combined effort.
It is then, near impossible to predict the future $ from the sale of the product going forward.
One day with a history of sales this may get easier. I inferred this last line.
I will continue with my conviction to hold, believing the company is making progress, and at some point it will all fall into place and snowball in all the areas we have been observing opportunities.
