Originally posted by Melways
spot on. Far too many times we are being told something that is well basically a lie. It’s like saying to someone I’m going to pay off my mortgage this year but forgetting to add only if i win Tattslotto!
And if you win Tattslotto, is the bank unhappy that is where you got the money to repay the mortgage?? And would they be happy to see you make a large deposit?
At the end of the day, even the biggest fans of DM and buddy OHM ( as I still am ) cannot defend the OHM sales numbers to date. There have certainly been plenty of mistakes made in 2018. ( year of the dog ). Including being overly optimistic with comments and building expectations. HOWEVER, if those mistakes had been ignored and the direction/plan was not changed then I would join the ranks of Melway and Ronnie1. If DM sat back and just "hoped " things would miraculously alter then I would understand the "haters" arguments.
From what I have seen from DM and the team they have a great ability to listen to the market place ( the energy monitoring market place , not the trading market ) and adjust accordingly.
First the business just provided the analytics for the data but didn't collect the data. Discovered that was a Mistake. So they trying to merge with Noveda to get the hardware to go with their software and provide the start to finish solution. Noveda wanted to much of the pie and it was decided to build their own hardware. Takes time. OHM Version 1 was launched. Market gave feedback ( lack of sales ) and version 2 was launched/updated based on feedback ( very normal for a new product and business) . In the mean time Thor industries are loving the software side of the business and change their direction to include buddy on their new journey of smart vehicles. BTW i believe this part of the company alone is a jewel in the crown despite not being the central focus at present ( due to limited resources). They signed the #1 global reseller of IoT.in Ingram Micro, plus many other resellers globally, but at the same time, continued the direct sales ticking over. Market expectations build!!! .They targetted big whales. 5K-10K+ ohm orders and are currently still in the mix with 7 of them. The mistake here is building expectations around the timing to land them.
They introduce carbon offset as a service in response to future regulatory requirements in UK and Europe. Again listening to the market.
After 12 month of version 2, again the uptake is slower than expected and their are plenty of reasons/ excuses. Digicel, financial troubles and death of CEO, Ingram micro IoT department delays, etc etc. But along that pathway they still continue to listen to what the energy monitoring market wants. So they introduce the currency to the dash board, they launch the the advisory service, they provide tutorials monthly on energy management and many other teaks to Working with OHMS and licencing requirements ( again takes time). At the same time they are getting feed back on what the customer really wants and they are "fast" to respond ( still takes time to deliver).
From the last quarterly, its very clear to me that the customers want not only the monitoring but also the control and/or automated control of the energy consumption. The great majority being lighting and HVAC. They discover that customers, just don't want the "fitbit" they want the "vibrating body shaper" included so they can lose weight ( save on energy costs) whilst standing still.
I am all but certain DM and the team have heard this loud and clear and have take steps in that direction.
So Melways, if this acquisition turns out to be a Tattslotto win, does that change things for you?? Will wait and see if you remove the sell sentiment or not over the next week after you have removed the emotions and look into the business for what it is and where it is heading.
Interesting week ahead and as always DYOR and HOLDTIGHT
