Almost two months have transpired since my most recent review of Baylin Tech (attached for your potential perusal below). It was less about reviewing their Q1 financials and more of a look at their splash acquisition of Kaelus AB out of Sweden. A big hello to my 56 subscribers from the land of the Tre Kroner by the way.
Baylin Technologies ($BYL.TO) Review
Baylin has been receiving some chatter within the Wolf Den discord as of late. Not by me, but requests have come in for a review so here we sit. I tend to review a lot of companies and sometimes I forget that I’ve covered them previously, as is the case with Baylin.
The latest Q1 FINS preceded that acquisition, and due to that I left the company unrated. While these financials only have one month of revenue from the combined entities, I’ll commit to giving it a rating this time around and this comes before I have delved into their numbers.
The stock is still slightly up from their Q1 financials, but down 16% from the acquisition announcement. My last review came on June 11th when the stock traded at 26.5 cents. Eleven days later the stock was up by 58%. Since then, it has given it all back, so I have some regrets for taking that starter position and holding onto it for that duration as it could have turned into a phenomenal little swing trade.
Baylin released their latest numbers after hours on Wednesday and the stock fell 3.7% yesterday (Thursday).
While the stock may be down since the acquisition, the same cannot be said for their valuation due to the significant dilution that came with buying Kaelus, going from approximately $41M to a current $73M market cap.
So let’s get into the new look Baylin Technologies and see if we can slap a rating on this bitch this time around.