Boom to bust in 5 years on AIM, Neil Woodford baby Eve Sleep – a few lessons as £52m goes to money heaven

Eve Sleep (EVE) floated on AIM in May 2017 just two years after it started trading. It brought in Paul Pindar which had listed Purplebricks (PURP) the disruptor – no sniggering at the back – of estate agencies to help disrupt the world of mattresses which also needed disrupting. And Neil Woodford, whose funds owned 18% after an IPO which raised £32.8 million, was not the only fund manager who was made to look like a fool. Here is Luke Hakes of Octopus writing just after the IPO:

#EVE Sleep – as warned here, board has resolved to appoint administrators

Eve Sleep: Fat Lady Warmed Up And Ready To Enter Stage Left

Another Neil Woodford disruptive pipe-dream is set to bite the dust next month. Having been bailed out repeatedly by Woodford as he sank his investors’ cash into a black hole, now that Woodford has gone there doesn’t seem to be anyone interested in taking on AIM-listed Eve Sleep (EVE) and this morning investors were warned of what we have been saying was inevitable for years.

#EVE Sleep – H1 increased loss, cash down to £1.4m and to “require further funding in October”!

Would You Adam & EVE It – Sales Down 19% As Formal Sale Process Update Suggests 0p Doom For Shareholders

AIM-listed member of the Woodford disruptive revolutionary front, Eve Sleep (EVE), has updated the market this morning on its formal sale process and trading. The news is not good and I suggest that anyone holding shares here is truly certifiable.

#EVE Sleep – H1 revenue -17% YoY, cash burn sees “focus on maximizing the business’ cash runway”

Eve Sleep – seeking additional investment for development… or because of cash crunch ahoy?...

Eve Sleep (EVE), under a “Strategic and financing options review” heading, states this is with it “having delivered a third consecutive year of growth in revenues and marketing contribution in our core UK & Ireland business in 2021, and cognisant of current trading conditions, the board now wishes to accelerate eve’s push into the wider sleep wellness space” and following “recent inbound investor interest”. So what of a current approaching 25% lower share price response to 1.25p?...

#EVE Sleep – trading warning and ‘strategic review’ including formal sale process. Good luck!

#EVE Sleep – 2021 increased loss, net cash down to £4.5m

#EVE Sleep – FY revenue +6%, still even a EBITDA loss

#EVE Sleep – notes sales order growth, states in-line with expectations but no bottom-line detail

#EVE Sleep – H1 revenue +13%, EBITDA loss

Eve Sleep – FY Results: good effort but not for me

AIM-listed former Neil Woodford favourite has released its FY20 results. The company makes great hay of the fact that it beat twice raised expectations, which is all very well, but it still racked up a pre-tax loss of £2.4 million. The bigger question for me is what happens when the high street finally reopens – assuming any bricks-and-mortar outfits are left.

#EVE Sleep – FY20 revenue +6%, albeit reduced still a loss. Early 2021 revenue +16%

#EVE Sleep – FY 2020 revenue +6% (after H2 +18%), still even EBITDA loss albeit reduced to £2m

#EVE Sleep – “year-on-year revenue growth of some 15% for the five months ended 30 November”, expected FY even adj. EBITDA loss “approximately £2.5m”

Eve Sleep – Interims from former Woodford dog pointing to a brighter future?

Former cash-hungry Woodford dog, AIM-listed Eve Sleep (EVE) has released its interims this morning. On the face of it there is plenty to cheer but a deeper look still offers plenty to worry about for shareholders.

#EVE Sleep – H1 revenue -5%, loss £1.3m, net cash down to £9.2m

Would you Adam’n’Eve it? Eve Sleep turns cashflow positive, so shares a buy, right?

Ex-Neil Woodford dog, AIM-listed Eve Sleep (EVE), has this morning updated the market with a first half trading update for this year – the highlight being that it has been trading ahead of expectations and generated a first positive cashflow. So all’s well – time to pile in? Not so fast……

#EVE Sleep – notes recently benefitted including from “online focused proposition”, though still an “underlying H1 EBITDA loss”