Rockley Photonics Holdings Limited (RKLY) Report Analysis
Corporate Events
Rockley Photonics Holdings Limited Announces Biosensing Technology Enters Evaluation Phase by Leading Consumer Wearables Customer
2022-06-16 13:05:00
Rockley Photonics Holdings Limited announced that one of its tier-1 consumer wearables customers has begun an evaluation program using Rockley's photonics-based sensing technology, which was recently shipped to the customer. Under the evaluation program, Rockley's comprehensive non-invasive biomarker measurement solutions will be assessed for potential integration into the customer's future wearable products. The tier-1 customer adds to Rockley's growing list of global consumer electronics manufacturers to receive shipments of Rockley's VitalSpex(TM) Pro technology, which is expected to enable the non-invasive measurement of alcohol, glucose, and lactate from a wrist-worn device. The consumer wearables customer is one of twelve consumer electronics customers actively contracted with Rockley. By incorporating Rockley's advanced biosensing technology, Rockley-powered wearable devices could enable the routine, near real-time, non-invasive monitoring of a wide range of biomarkers, including core body temperature, blood pressure, heart rate, blood oxygen, body hydration, alcohol, lactate, and glucose, among others.
Rockley Photonics Announces Senior Leadership Changes
2022-06-15 20:05:00
Rockley Photonics Holdings Limited announced that Ciaran Rooney, vice president of strategic relationships, was promoted to senior vice president of corporate development. During his tenure, Mr. Rooney played a key role in the financing of the business through multiple financing rounds including the recent private placement and the Company’s IPO last August, and has led Rockley’s strategic initiatives, including corporate development, strategic partnerships, and key commercial and corporate relationships.
Rockley Photonics Holdings Limited Announces Chief Financial Officer Changes
2022-06-15 20:05:00
Rockley Photonics Holdings Limited announced that Mahesh Karanth will resign from his role as chief financial officer to pursue other interests. Chad Becker, vice president of financial planning and analysis, will be promoted to the role of interim chief financial officer effective immediately. Mr. Becker brings 20 years of finance and leadership experience at companies, including Microsoft and NetApp.
Rockley Photonics Holdings Limited Presents at Baird 2022 Global Consumer, Technology & Services Conference, Jun-06-2022 08:30 AM
2022-06-06 00:00:00
Rockley Photonics Holdings Limited Presents at Baird 2022 Global Consumer, Technology & Services Conference, Jun-06-2022 08:30 AM. Venue: InterContinental New York Barclay, 111 East 48th Street, New York City, New York, United States.
Rockley Photonics Holdings Limited announced that it has received $81.5 million in funding
2022-05-27 00:00:00
On May 27, 2022, Rockley Photonics Holdings Limited closed the transaction. The company received gross proceeds of approximately $80,600,000, prior to deducting transaction fees and estimated expenses. The notes are senior secured obligations of the company and the guarantor subsidiaries secured by substantially all assets of each of the company and each guarantor subsidiary. Interest on the notes will be payable quarterly in arrears at a rate of 9.5% per annum if paid in cash or, subject to the satisfaction of certain conditions, at a rate of 12.0% per annum payable at a rate of 5.75% per annum in cash and 6.25% per annum through the issuance of additional notes, which will also bear interest. interest on the notes will be payable quarterly in arrears on February 15, May 15, August 15 and November 15, commencing on August 15, 2022. The notes will mature on May 15, 2026 unless redeemed, repurchased or converted in accordance with their terms prior to such date. The notes are convertible at an initial conversion price equal to $3.08 per ordinary share. Holders of the notes have the right to convert all or a portion of their notes at any time prior to the close of business on the second scheduled trading day immediately preceding the maturity date. The company may redeem the notes in whole, and not in part, at its option, at any time prior to the maturity date.
Rockley Photonics Holdings Limited Provides Revenue Guidance for the Fiscal Year 2022
2022-05-12 13:44:00
Rockley Photonics Holdings Limited provided revenue guidance for the fiscal year 2022. For the year, the company expects revenue to be between $20 million to $30 million.
Rockley Photonics Holdings Limited announced that it expects to receive $81.5 million in funding
2022-05-12 00:00:00
Rockley Photonics Holdings Limited announced that it has entered into a definitive agreement to issue convertible senior secured notes due 2026 and warrants for gross proceeds of $81,500,000 on May 12, 2022. The transaction will include participation from certain institutional investors. The notes will be The warrants will be convertible into 26,500,000 shares at an exercise price of $5 per share. The notes will bear an interest rate of 9.5% per annum or, if the company elects to pay interest partially in cash and partially through the issuance of additional Notes, at a rate of 5.75% payable in cash and 6.25% payable in kind through the issuance of additional notes. Certain subsidiaries of the company will initially guarantee the notes. The notes will mature within four year from the date of issuance. The warrants will expire ten years from the date of issuance. The company will also grant the initial purchasers of the notes an option to purchase up to an additional $81.5 million aggregate principal amount of notes and warrants. The transaction is expected on May 23, 2022.
Rockley Photonics Holdings Limited Announces Shipment of Vitalspex Pro Biosensing Technology for Alcohol, Lactate, and Glucose Measurement
2022-05-04 13:05:00
Rockley Photonics Holdings Limited announced it has shipped its VitalSpex Pro technology for the non-invasive measurement of alcohol, glucose, and lactate to an early-access, tier-1 consumer wearables customer. The shipment of this advanced biomarker-sensing technology marks an important milestone in the progress of next-generation digital healthcare. Rockley intends to begin production of the Baseline version of its VitalSpex biosensing platform, which will measure biomarkers for blood oxygen, blood pressure, body hydration, core body temperature, heart rate, heart rate variation, and respiratory rate, in the second half of 2022. The Company plans to begin production of the Pro version of its VitalSpex biosensing platform in 2023, which will measure an extended range of biomarkers, including alcohol, glucose, and lactate.
Rockley Photonics Holdings Limited Announces Termination of Chief Operating Officer, Amit Nagra
2022-04-20 20:56:00
Rockley Photonics Holdings Limited announced that in connection with activities to monetize ultra-high-speed fiber optic communication solutions, Chief Operating Officer, Amit Nagra’s employment was terminated on April 15, 2022. Mr. Nagra will receive severance in accordance with the terms of his employment agreement.
Rockley Photonics Holdings Limited to Report Q1, 2022 Results on May 12, 2022
2022-04-12 20:15:00
Rockley Photonics Holdings Limited announced that they will report Q1, 2022 results After-Market on May 12, 2022
Rockley Photonics Holdings Limited, Q1 2022 Earnings Call, May 12, 2022
2022-04-12 20:15:00
Rockley Photonics Holdings Limited, Q1 2022 Earnings Call, May 12, 2022
Rockley Photonics Holdings Limited - Shareholder/Analyst Call
2022-03-31 20:02:00
AGM
Rockley Photonics Announces Bioptx™ Biomarker Sensing Platform for Professional Healthcare, Including First-of-its-Kind Non-Invasive, Continuous Biosensing Wristband
2022-02-08 14:00:00
Rockley Photonics Holdings Limited announced the Bioptx™ platform of biomarker sensing products and solutions for the medical and healthcare market. The Bioptx healthcare sensing platform is expected to provide medical institutions, such as hospitals, research clinics, pharmaceutical companies, medical device manufacturers, and other healthcare providers, with the ability to monitor the general wellness of individuals. The Bioptx sensing platform will integrate various sensing capabilities, including Rockley’s patented silicon-photonics-based laser technology. Rockley’s technology has the potential to significantly enhance the range of biomarkers that can be detected and measured by current sensors. The expanded range of biomarkers will include core body temperature, blood pressure, body hydration, alcohol, lactate, and glucose trends, among others. These new measurement capabilities have the potential to transform healthcare by providing real-time insights into a variety of health conditions and by enabling early detection of multiple disease states.
Robert W. Baird & Co. Incorporated, Baird 2022 Global Consumer, Technology & Services Conference, Jun 06, 2022 through Jun 08, 2022
2022-01-31 12:08:00
Robert W. Baird & Co. Incorporated, Baird 2022 Global Consumer, Technology & Services Conference, Jun 06, 2022 through Jun 08, 2022. Venue: InterContinental New York Barclay, 111 East 48th Street, New York City, New York, United States.
Rockley Photonics Holdings Limited, Annual General Meeting, May 16, 2022
2022-01-27 21:20:00
Rockley Photonics Holdings Limited, Annual General Meeting, May 16, 2022, at 11:00 Pacific Standard Time. Agenda: To elect two Class I directors to serve until the 2025 annual meeting of shareholders or until their successors are duly elected and qualified; to ratify the appointment of Ernst & Young LLP as independent registered public accounting firm for the year ending December 31, 2022; and to transact such other business.
Rockley Photonics Holdings Limited has closed its Shelf Registration dated November 29, 2021 in the amount of $45.46767 million.
2021-12-10 00:00:00
Rockley Photonics Holdings Limited has closed its Shelf Registration dated November 29, 2021 in the amount of $45.46767 million. Security Name: Ordinary Shares Securities Offered: 7,785,560
Rockley Photonics Holdings Limited Announces Results of Preliminary Human Studies Involving Measurement of Core Body Temperature
2021-12-08 14:35:00
Rockley Photonics Holdings Limited announced that the company has successfully completed the first stages of its preliminary human studies examining the measurement of core body temperature using its non-invasive biomarker sensing platform. In these studies, Rockley researchers have demonstrated that a photonics-based sensor detecting water spectra in different layers of the dermis can produce temperature measurements that correlate more closely with reference sensors for core body temperature than do auxiliary sensors like oral, ear, and infrared thermometers. By enabling the detection of core body temperature from a wearable device such as a smart watch or wristband, Rockley’s sensing platform has the potential to provide real-time insights about a variety of health conditions and enable the early detection of disease states. Core body temperature is a critical parameter that influences the body’s regular function and can affect one’s very survival. A person’s normal temperature can depend on a multitude of factors, and the human body constantly adapts its temperature to environmental conditions.Because today’s common measurement tools and thermometers are designed for convenience, they cannot readily measure the temperature inside the body and therefore may not always reflect the body’s true core temperature. Rockley’s wearable sensing platform probes beneath the surface of the skin to measure core body temperature in a non-invasive and continuous manner. The Rockley sensing platform uses photonic integrated circuit (PIC) sensors to generate numerous discrete, narrow-linewidth laser wavelengths across a wide spectral range. These laser wavelengths can detect a level of detail beyond today’s LED-based sensors and are therefore able to discern varying signatures of water absorption. Rockley’s platform can determine core body temperature by comparing these signatures to known properties of the water absorbance spectrum.
Rockley Photonics Holdings Limited has filed a Shelf Registration in the amount of $50.839707 million.
2021-11-29 00:00:00
Rockley Photonics Holdings Limited has filed a Shelf Registration in the amount of $50.839707 million. Security Name: Ordinary Shares Securities Offered: 7,785,560
Rockley Photonics Unveils Collaborative Clinical Research Initiative for Remote Patient Monitoring and Diagnosis
2021-11-18 14:00:00
Rockley Photonics formed a strategic relationship to incorporate Rockley’s non-invasive biomarker sensing platform into potential clinical and healthcare research studies. Rockley will be working with the Icahn School of Medicine at Mount Sinai in New York, NY, part of the Mount Sinai Health System, for potential collaboration in future research studies. The initiative aims to incorporate the next generation of non-invasive biomarker sensing in a series of studies to evaluate the use of wristbands and other wearables for a variety of potential applications, including remote monitoring and diagnosis. Rockley aims to create new opportunities for its photonics-based sensing platform in healthcare and medical applications and help expand the future use of real-time, non-invasive biomarker sensing for people around the globe. Rockley’s sensing platform enables clinical and healthcare research practitioners to integrate more comprehensive non-invasive biomarker measurements in their remote monitoring studies. Rockley’s patented silicon photonics-based laser technology significantly expands the range of biomarkers that can be detected and measured by current LED-based sensors. This expanded range includes key biomarkers like core body temperature, blood pressure, body hydration, alcohol, lactate, and glucose trends, among others. These new measurement capabilities have the potential to transform digital healthcare by providing real-time insights into a variety of health conditions and by enabling early detection of multiple disease states.
Rockley Photonics and Caltech Announc A New Research Collaboration to Develop Next Generation of Health Monitoring
2021-11-10 14:00:00
Rockley Photonics announced a new research collaboration that will focus on the development of next-generation solutions that combine advanced sensors with artificial intelligence. The collaboration includes Caltech’s Sensing to Intelligence (S2I) Center. The S2I Center seeks to bring together two typically isolated disciplines — the field of sensing and imaging and the field of computation and algorithms — by adopting a holistic, interdisciplinary approach. The goal of bringing these two fields together is to develop more powerful and intelligent sensing systems and is wholly aligned with Rockley’s approach to health and wellness monitoring, which combines photonics-based sensor technologies with artificial intelligence (AI) and data analytics. Through its investment in S2I, Rockley plans to support a range of projects, including the development of new integrated spectrometer technologies using advanced photonics sensors. Researchers in the S2I center will explore and further analyze the relationship between spectral data and individual biomarkers to broaden and enhance the health monitoring capabilities and will utilize Rockley’s platform in the process. Rockley Photonics and Caltech have collaborated previously on research projects including co-packaged optics and the co-design and integration of advanced photonics and electronics. This new agreement deepens an already strong association. The scope of the partnership with S2I involves multiple Caltech divisions and departments, including Electrical Engineering, Applied Physics, Medical Engineering, Computing and Mathematical sciences, and NASA’s Jet Propulsion Laboratory (JPL). Leveraging Rockley’s and Caltech’s experience developing AI solutions for biosensing and healthcare, the collaboration will also explore new applications for cloud-based services, exploiting the advanced capabilities of platforms such as Amazon Web Services (AWS).
Rockley Photonics Holdings Limited to Report Q3, 2021 Results on Nov 15, 2021
2021-10-25 20:15:00
Rockley Photonics Holdings Limited announced that they will report Q3, 2021 results After-Market on Nov 15, 2021
Rockley Photonics Holdings Limited, Q3 2021 Earnings Call, Nov 15, 2021
2021-10-25 20:15:00
Rockley Photonics Holdings Limited, Q3 2021 Earnings Call, Nov 15, 2021
Rockley Photonics Holdings Limited has closed its Shelf Registration dated October 07, 2021 in the amount of $2.41483 million.
2021-10-20 00:00:00
Rockley Photonics Holdings Limited has closed its Shelf Registration dated October 07, 2021 in the amount of $2.41483 million. Security Name: Ordinary Shares Securities Offered: 319,000
Rockley Photonics Holdings Limited has filed a Shelf Registration in the amount of $22.103086 million.
2021-10-18 00:00:00
Rockley Photonics Holdings Limited has filed a Shelf Registration in the amount of $22.103086 million. Security Name: Ordinary Shares Securities Offered: 3,057,135
Rockley Photonics Holdings Limited has filed a Shelf Registration in the amount of $2.41802 million.
2021-10-07 00:00:00
Rockley Photonics Holdings Limited has filed a Shelf Registration in the amount of $2.41802 million. Security Name: Ordinary Shares Securities Offered: 319,000
Rockley Photonics Holdings Limited has closed its Shelf Registration dated September 09, 2021 in the amount of $166.95 million.
2021-09-22 00:00:00
Rockley Photonics Holdings Limited has closed its Shelf Registration dated September 09, 2021 in the amount of $166.95 million. Security Name: Ordinary Shares Securities Offered: 15,000,000
Rockley Photonics Holdings Limited has filed a Shelf Registration in the amount of $140.4 million.
2021-09-09 00:00:00
Rockley Photonics Holdings Limited has filed a Shelf Registration in the amount of $140.4 million. Security Name: Ordinary Shares Securities Offered: 15,000,000
Rockley Photonics Holdings Limited has filed a Shelf Registration in the amount of $587.323767 million.
2021-09-09 00:00:00
Rockley Photonics Holdings Limited has filed a Shelf Registration in the amount of $587.323767 million. Security Name: Ordinary Shares Securities Offered: 52,769,431
Rockley Photonics Holdings Limited Presents at Deutsche Bank Technology Conference 2021, Sep-09-2021 08:30 AM
2021-08-30 13:41:00
Rockley Photonics Holdings Limited Presents at Deutsche Bank Technology Conference 2021, Sep-09-2021 08:30 AM.
Rockley Photonics Holdings, Ltd., Q2 2021 Earnings Call, Aug 16, 2021
2021-08-13 20:21:00
Rockley Photonics Holdings, Ltd., Q2 2021 Earnings Call, Aug 16, 2021
Rockley Photonics Holdings, Ltd. to Report Q2, 2021 Results on Aug 16, 2021
2021-08-13 20:21:00
Rockley Photonics Holdings, Ltd. announced that they will report Q2, 2021 results After-Market on Aug 16, 2021
Rockley Photonics Holdings Limited Appoints Caroline Brown as Director
2021-08-12 16:06:00
IP Group plc announced that Caroline Brown, a non-executive director of the Group, has been appointed as a director of Rockley Photonics Holdings Limited.
Rockley Photonics Limited Announces Appointment of Board of Directors
2021-08-11 20:15:00
Rockley Photonics Limited announced appointment of board of directors. The new board will comprise of seven directors, including three women and one self-identified minority director, who bring extensive public company board experience and deep expertise in each of their respective fields: Dr. Andrew Rickman, Ph.D., OBE1, Rockley CEO and founder, will serve as chairman of the board. William Huyett is director emeritus of McKinsey and Company, where he spent 30 years serving global clients in biopharmaceuticals, medical devices, industrial, and other technology-intensive companies. Mr. Huyett will serve as senior independent director. Dr. Caroline Brown, Ph.D., has 20 years of board experience, has been an independent director on Rockley’s board since January 2019, and sits on the boards of IP Group plc, Georgia Capital plc and Luceco plc. Dr. Brown has been appointed as chair of audit committee. Brian J. Blaser has over 25 years of experience in the medical devices industry and retired from Abbott Laboratories in 2019 as executive vice president of diagnostic products after holding a number of senior and corporate roles in operations and strategy. Karim Karti, a healthcare industry veteran, is the chair of MedTech Acquisition, was previously the chief operating officer of iRhythm Technologies, and served in roles of increasing seniority over 22 years at General Electric. Michele Klein has 20 years of semiconductor industry experience and serves on the boards of Aviat Networks and Intevac. Earlier she was a director of Photon Control, an investor for Applied Ventures, the VC arm of Applied Materials, and CEO of diagnostic equipment companies. Dr. Pamela Puryear, Ph.D., an expert on human capital, is the executive vice president of global human resources at Walgreen Boots and was previously a senior vice president and chief human resources at Zimmer Biomet and the senior vice president and chief talent officer at Pfizer.
Rockley Photonics Holdings Limited announced that it has received $152.1 million in funding from UBS O'Connor LLC, SC Health Group Limited, Medtronic Finance Holdings ULC, Senvest Management, LLC, and other investors
2021-08-11 00:00:00
On August 11, 2021, Rockley Photonics Limited closed the transaction.
Rockley Photonics Limited completed the acquisition of SC Health Corporation (NYSE:SCPE) from Glazer Capital, LLC, Anson Funds Management LP, Boussard & Gavaudan Investment Management LLP, Perceptive Advisors LLC and Others in a reverse merger transaction.
2021-08-11 00:00:00
Rockley Photonics Limited entered into a letter of intent to acquire SC Health Corporation (NYSE:SCPE) from Glazer Capital, LLC, Perceptive Advisors LLC, Anson Funds Management LP, Boussard & Gavaudan Investment Management LLP and others for SGD 1.3 billion in a reverse merger transaction on January 5, 2021. Rockley Photonics Limited entered into a definitive agreement to acquire SC Health Corporation in a reverse merger transaction on March 19, 2021. Under the reverse merger arrangement, approximately 130 million new shares will be issued. In connection with the transaction, Rockley Photonics agreed to issue and sell an aggregate of approximately SGD 200 million ($150 million) of shares. The transaction is subject to regulatory approvals, approval from SC Health Corporation Shareholders and Rockley shareholders, court approval, registration statement becoming effective, antitrust approval under HSR Act, SC Health having a minimum of net tangible assets upon closing, and The Rockley Photonics Limited Ordinary Shares shall have been approved for listing on NYSE, subject to official notice of issuance. The SC Health Corporation’s shareholders approved an amendment to the business combination agreements until April 16, 2021 to complete a business combination. As of March 22, 2021, SC Health Board unanimously recommends shareholders to vote in favor of the transaction in the meeting scheduled on August 6, 2021. The transaction was approved by SC Health's shareholders on August 6, 2021. The board of Rockley Photonics approved the deal. The meeting of the shareholders is scheduled on July 16, 2021. As of July 22, 2021, the transaction is expected to close in third quarter of 2021. Morrow & Co., LLC is acting as proxy solicitor to SC Health Corporation and will receive a fee of SGD 30,203 ($22,500). Paul Tropp, Chris Capuzzi and Carl P. Marcellino of Ropes & Gray LLP acted as legal advisors and Clemente Antonio Puno of Merrill Lynch (Singapore) Pte. Ltd. acted as financial advisors to SC Health Corporation. Vinni Trehan of Cowen and Company, LLC acted as financial advisor to Rockley. James Masetti and Jarrod Murphy of James Masetti and Jarrod Murphy acted as legal advisors to Rockley Photonics Limited. BofA Securities acted as financial advisor to SC Health and Carl Marcellino, Elizabeth Todd, Paul Tropp, Christopher Capuzzi, Tara Fisher Oh, Elaine Murphy, Brenda Coleman, Christopher Agnoli, Ruchit Patel, Ama Adams, Deidre Johnson, Loretta Richard, Rohan Massey of Ropes & Gray LLP. Felix Orihuela of American Stock Transfer & Trust Company is acting as transfer agent to SC Health Corporation. Ernst & Young LLP provided auditor’s report on financials of Rockley while WithumSmith+Brown, PC provided auditor’s report on financials of SC Health. Rockley Photonics Limited completed the acquisition of SC Health Corporation (NYSE:SCPE) from Glazer Capital, LLC, Anson Funds Management LP, Boussard & Gavaudan Investment Management LLP, Perceptive Advisors LLC and Others in a reverse merger transaction on August 11, 2021. The combined company will retain the Rockley Photonics, Ltd. name as a subsidiary of Rockley Photonics Holdings, Ltd., which will commence trading on the NYSE under the new ticker symbol “RKLY” on August 12, 2021. The High Court of Justice of England and Wales approved the scheme of arrangement on August 9, 2021. With the completion of the business combination Rockley announced the appointment of a diverse Board of Directors comprising Andrew Rickman, William Huyett, Caroline Brown, Brian J. Blaser, Karim Karti, Michele Klein and Pamela Puryear. Andrew Rickman will continue serve as Chief Executive Officer Chairman of the Board of Directors. Mahesh Karanth continues to serve as the Chief Financial Officer. Amit Nagra was appointed to serve as the Chief Operating Officer. William Huyett will serve as senior independent Director.
Rockley Photonics Limited Unveils End-To-End Digital Health Monitoring Solution Based on Spectrophotometer-On-A-Chip Sensing Module
2021-07-14 11:00:00
Rockley Photonics Limited revealed its complete full-stack, “clinic-on-the-wrist” digital health sensor system. Wristband to be used in human studies. Rockley’s sensor module and associated reference designs for consumer products integrate hardware and application firmware to enable wearable devices to monitor multiple biomarkers, including core body temperature, blood pressure, body hydration, alcohol, lactate, and glucose trends, among others. Rockley’s full-stack sensing solution features a wristband that contains the sensor module and communicates with custom cloud-based analytical engines via a Rockley smartphone app. The wristband will be used in a sequence of in-house human studies in the coming months. Through its “clinic-on-the-wrist” technology utilizing a miniaturized chip solution that provides continuous, non-invasive monitoring of core biomarkers, Rockley expects to be able to overcome the key challenges associated with mobile wellness monitoring. While many of today’s wearable consumer electronic devices use green light-emitting diodes (LEDs) to monitor heart rate, Rockley’s infrared (IR) spectrophotometers can detect and monitor a much wider range of biomarkers, which could dramatically increase the functionality of wearable devices. The central and differentiating element of the sensing system is a non-invasive sensor module based on the Rockley platform’s spectroscopy technology. Unlike more common spectroscopy solutions, which use broad-spectrum light sources, Rockley’s sensor module generates a large number of discrete laser outputs from a single silicon chip covering a broad optical band. The sensor non-invasively probes beneath the skin to analyze blood, interstitial fluids, and various layers of the dermis for constituents and physical phenomena of interest. Such biomarkers have historically been measurable only by using bench-top equipment.
Fundamental Summary
Rockley Photonics's financial reports for Q1 showed some underwhelming results. Their negative income and value factors indicate that it is finding it increasingly difficult to produce impressive numbers. Typically, results like these translate into sustained negative momentum and strong downward pressure on stock price. Therefore, they earned a total score of 58 out of 100 and a UNDERPERFORM recommendation.
Rockley Photonics reported earnings results for the first quarter ended March 31, 2022. For the first quarter, the company reported sales was USD 0.962 million compared to USD 1.77 million a year ago. Net loss was USD 41.78 million compared to USD 64.78 million a year ago. Basic loss per share from continuing operations was USD 0.33 compared to USD 0.77 a year ago. Diluted loss per share from continuing operations was USD 0.33 compared to USD 0.77 a year ago.
Business Description
Rockley Photonics develops and supplies silicon photonics in the United Kingdom and internationally. It offers a platform, which comprises photonic integrated circuits in silicon with integrated III-V devices; application-specific electronic integrated circuits; photonic and electronic co-packaging, which are supported by and coupled with biosensing algorithms, artificial intelligence, cloud analytics, firmware/software, system architecture, and hardware design. The company also provides a biosensing platform for consumer wellness, long-term health trend monitoring, patient monitoring, early disease detection, nutrition management, and treatment of certain chronic diseases. Rockley Photonics was founded in 2013 and is headquartered in Altrincham, the United Kingdom.
Sector Overview
Rockley Photonics is included in the Semiconductors & Semiconductor Equipment according to GICS (global industry classification standard). The Semiconductors & Semiconductor Equipment industry is part of the Information Technology sector. It includes manufacturers of semiconductors, semiconductor equipment, and related products. Rockley Photonics's industry and sector affiliation are expected to negatively affect their likelihood to overperform the market in the upcoming period, as other sectors appear more likely to benefit from the macroeconomic environment we see now.
Fundamental Highlights
| Parameter | Value | Change | Score | |
|---|---|---|---|---|
| Return on Equity | 1,015.6 | 319.1% | 83 | |
| Net Cashflow | -57.7 | -428.8% | 80 | |
| Capital Expenditure | -8.6 | -3.6% | 66 | |
| Asset Turnover | 0.1 | -17.4% | 46 | |
| Free Cashflow | -1.3 | 0.4% | 72 |
* All values are TTM
The below chart reflects Rockley Photonics's birds-eye view on its performance with respect to its peers, the company's fillings as reported or to a similar industry, market cap, and country of origin. While Rockley Photonics's peer average final assessment score stands on 65.0, Rockley Photonics's score is 58.
- RKLY
- Peers average
Technical Analysis
When trying to optimize the timing of an investment, it's critical to analyze whether the stock looks overbought or oversold, and in which direction the momentum is moving. Rockley Photonics's stock is now priced above its 5-day, but below its 50-day and 200-day moving average, while its MACD (moving average convergence divergence) indicates that the stock's price movement momentum is weakening. Historically, this is a positive setup in the near-term. The company is trading near it's 12-month low, which signals it struggle to keep above it support price. Meanwhile, looking at the Stochastic Oscillator and RSI (relative strength index), Rockley Photonics's stock indicates that it's likely oversold. Overall, these technical indicators signal negative momentum. Therefore, this stock received a cumulative TA (technical analysis) score of 42.
5D MA
2.47
50D MA
2.86
200D MA
4.83
MACD
-0.14
RSI
2.32
STOCH
93.42
Balance Sheet Analysis
Several numbers from Rockley Photonics's current balance sheet were concerning, in two areas in particular: Cash & Equivalents and Equity. Rockley Photonics reported concerning cash and cash equivalents metrics in this filing. Specifically, they reported that cash and cash equivalents were 11.9, representing a -67.8% change from the last period. The company's cash and cash equivalents metrics highlight a difficult overall financial situation, which may, unfortunately, continue moving forward unless management makes significant changes. Its cash and cash equivalents movement, therefore, received a grade of 37. Also, Rockley Photonics management produced disappointing equity metrics this period, which stood at 65.4, representing a -37.0% change. This parameter often affects companies in the same industry and market capitalization by up to 4.3%. These metrics are all the more disappointing relative to their peers and should blunt potential positive momentum in its's stock price. Its equity movement component, therefore, received a grade of 40. That said, one metric, Assets, stood out as strongly positive. The company's assets section could set high expectations for Rockley Photonics's future attractiveness, as they went to 119.3, which is a -26.7% change from the last period. This growth should support upward pressure on its's stock price, which better captures their intrinsic value. Consequently, their asset movement received a grade of 82. Therefore, it received a cautionary score of 41.
| Parameter | Value | Change | Score |
|---|---|---|---|
| Assets | 119.3 | -26.7% | 82 |
| Liabilities | 53.9 | -8.6% | 48 |
| Price to Book | 5.2 | -3.2% | 52 |
| Cash & Equivalents | 11.9 | -67.8% | 37 |
| Equity | 65.4 | -37.0% | 40 |
The below chart describes Rockley Photonics's performance as reflected on its balance sheet with respect to its peers. While Rockley Photonics received a balance sheet score of 41, the average of its peers stands on 50.0.
- RKLY
- Peers average
| Name | Market Cap | Liabilities Movement | Asset Change | Equity/Intangibles Adjustments | Cash & Equivalents | Book Value Momentum | Balance Sheet | mc_sort | Hidden |
|---|---|---|---|---|---|---|---|---|---|
| Wolfspeed, Inc. | 8.7B | 96 | 63 | 58 | 97 | 56 | 73 | 0 | 1 |
| Daqo New Energy Corp. | 5.4B | 92 | 62 | 81 | 95 | 93 | 93 | 1 | 1 |
| Onto Innovation Inc. | 3.7B | 84 | 71 | 67 | 72 | 73 | 77 | 2 | 1 |
| JinkoSolar Holding Co., Ltd. | 3.3B | 87 | 62 | 77 | 94 | 94 | 89 | 3 | 1 |
| NeoPhotonics Corporation | 837.4M | 89 | 66 | 49 | 72 | 64 | 66 | 4 | 1 |
| Magnachip Semiconductor Corporation | 681.9M | 56 | 78 | 79 | 72 | 72 | 74 | 5 | 1 |
| Mykrolis Corp. | 657.1M | 77 | 53 | 73 | 92 | 79 | 72 | 6 | 1 |
| Valens Semiconductor Ltd. | 350.3M | 92 | 70 | 66 | 45 | 73 | 75 | 7 | 1 |
| NVIDIA Corporation | 422.4B | 78 | 70 | 65 | 97 | 54 | 71 | 8 | 1 |
| Intel Corporation | 157.9B | 65 | 69 | 76 | 90 | 81 | 77 | 9 | 1 |
| Texas Instruments Incorporated | 143.5B | 63 | 70 | 87 | 46 | 84 | 76 | 10 | 1 |
| QUALCOMM Incorporated | 142.4B | 57 | 71 | 96 | 80 | 81 | 82 | 11 | 1 |
| Advanced Micro Devices, Inc. | 139.6B | 94 | 61 | 78 | 96 | 81 | 88 | 12 | 1 |
| Broadcom Inc. | 102.5B | 67 | 79 | 59 | 56 | 54 | 62 | 13 | 1 |
| Applied Materials, Inc. | 84.9B | 71 | 72 | 64 | 41 | 55 | 60 | 14 | 1 |
| Analog Devices, Inc. | 78.3B | 62 | 80 | 66 | 65 | 66 | 69 | 15 | 1 |
| Micron Technology, Inc. | 65.6B | 73 | 69 | 85 | 76 | 74 | 81 | 16 | 1 |
| Lam Research Corporation | 62.4B | 73 | 77 | 59 | 51 | 45 | 59 | 17 | 1 |
| KLA Corporation | 50.5B | 75 | 62 | 73 | 53 | 66 | 66 | 18 | 1 |
| NXP Semiconductors N.V. | 41.7B | 72 | 68 | 56 | 62 | 76 | 64 | 19 | 1 |
| Marvell Technology, Inc. | 40.5B | 71 | 84 | 50 | 46 | 51 | 60 | 20 | 1 |
| Microchip Technology Incorporated | 33.6B | 65 | 84 | 76 | 72 | 65 | 78 | 21 | 1 |
| Enphase Energy, Inc. | 27.8B | 89 | 61 | 39 | 97 | 55 | 58 | 22 | 1 |
| GLOBALFOUNDRIES Inc. | 24.5B | 81 | 66 | 73 | 82 | 74 | 78 | 23 | 1 |
| ON Semiconductor Corporation | 23.5B | 74 | 69 | 77 | 88 | 82 | 81 | 24 | 1 |
| Monolithic Power Systems, Inc. | 19.4B | 85 | 65 | 75 | 92 | 80 | 84 | 25 | 1 |
| SolarEdge Technologies, Inc. | 16.5B | 77 | 62 | 77 | 96 | 86 | 82 | 26 | 1 |
| Skyworks Solutions, Inc. | 15.8B | 69 | 77 | 64 | 46 | 52 | 62 | 27 | 1 |
| Teradyne, Inc. | 15.7B | 48 | 81 | 63 | 45 | 47 | 51 | 28 | 1 |
| Entegris, Inc. | 14.2B | 62 | 71 | 75 | 55 | 79 | 70 | 29 | 1 |
| Qorvo, Inc. | 10.6B | 64 | 83 | 64 | 67 | 55 | 67 | 30 | 1 |
| First Solar, Inc. | 7.5B | 77 | 70 | 50 | 58 | 57 | 58 | 31 | 1 |
| Lattice Semiconductor Corporation | 7.2B | 53 | 79 | 79 | 60 | 64 | 68 | 32 | 1 |
| MKS Instruments, Inc. | 6.0B | 59 | 74 | 72 | 76 | 72 | 70 | 33 | 1 |
| Universal Display Corporation | 5.4B | 57 | 76 | 83 | 85 | 70 | 75 | 34 | 1 |
| Silicon Laboratories Inc. | 5.3B | 89 | 81 | 60 | 45 | 47 | 71 | 35 | 1 |
| CMC Materials, Inc. | 5.2B | 65 | 79 | 73 | 87 | 82 | 80 | 36 | 1 |
| Tower Semiconductor Ltd. | 5.1B | 68 | 72 | 69 | 61 | 57 | 65 | 37 | 1 |
| Synaptics Incorporated | 5.1B | 71 | 71 | 78 | 92 | 76 | 81 | 38 | 1 |
| Power Integrations, Inc. | 4.5B | 55 | 82 | 59 | 79 | 56 | 61 | 39 | 1 |
| Amkor Technology, Inc. | 4.3B | 70 | 68 | 75 | 74 | 77 | 74 | 40 | 1 |
| Cirrus Logic, Inc. | 4.1B | 73 | 76 | 81 | 96 | 74 | 86 | 41 | 1 |
| Allegro MicroSystems, Inc. | 4.1B | 68 | 69 | 74 | 80 | 76 | 74 | 42 | 1 |
| SiTime Corporation | 3.8B | 57 | 67 | 65 | 73 | 64 | 58 | 43 | 1 |
| Semtech Corporation | 3.6B | 58 | 79 | 68 | 67 | 64 | 67 | 44 | 1 |
| MACOM Technology Solutions Holdings, Inc. | 3.4B | 64 | 75 | 74 | 38 | 75 | 69 | 45 | 1 |
| SunPower Corporation | 3.2B | 72 | 81 | 42 | 83 | 53 | 61 | 46 | 1 |
| FormFactor, Inc. | 3.1B | 72 | 70 | 84 | 82 | 80 | 83 | 47 | 1 |
| Diodes Incorporated | 3.1B | 46 | 78 | 71 | 51 | 72 | 61 | 48 | 1 |
| Silicon Motion Technology Corporation | 2.9B | 40 | 85 | 60 | 40 | 47 | 54 | 49 | 1 |
| Nova Ltd. | 2.8B | 86 | 45 | 76 | 48 | 82 | 61 | 50 | 1 |
| MaxLinear, Inc. | 2.7B | 68 | 71 | 75 | 85 | 75 | 76 | 51 | 1 |
| Ambarella, Inc. | 2.7B | 45 | 75 | 74 | 86 | 65 | 63 | 52 | 1 |
| Kulicke and Soffa Industries, Inc. | 2.7B | 45 | 83 | 61 | 76 | 56 | 57 | 53 | 1 |
| Rambus Inc. | 2.4B | 43 | 82 | 41 | 95 | 54 | 48 | 54 | 1 |
| Canadian Solar Inc. | 2.2B | 91 | 54 | 59 | 62 | 62 | 58 | 55 | 1 |
| Axcelis Technologies, Inc. | 1.9B | 76 | 68 | 85 | 71 | 74 | 81 | 56 | 1 |
| Credo Technology Group Holding Ltd | 1.7B | 94 | 61 | 77 | 79 | 86 | 88 | 57 | 1 |
| Himax Technologies, Inc. | 1.6B | 78 | 55 | 91 | 85 | 95 | 77 | 58 | 1 |
| Impinj, Inc. | 1.4B | 62 | 68 | 78 | 39 | 92 | 72 | 59 | 1 |
| Ultra Clean Holdings, Inc. | 1.4B | 55 | 78 | 68 | 48 | 68 | 63 | 60 | 1 |
| Cohu, Inc. | 1.4B | 52 | 82 | 57 | 59 | 59 | 57 | 61 | 1 |
| Photronics, Inc. | 1.3B | 53 | 85 | 66 | 76 | 66 | 68 | 62 | 1 |
| Camtek Ltd. | 1.1B | 63 | 61 | 82 | 37 | 90 | 66 | 63 | 1 |
| SMART Global Holdings, Inc. | 1.1B | 90 | 63 | 75 | 95 | 82 | 86 | 64 | 1 |
| Veeco Instruments Inc. | 1.0B | 84 | 72 | 41 | 78 | 47 | 58 | 65 | 1 |
| Alpha and Omega Semiconductor Limited | 957.1M | 89 | 64 | 67 | 87 | 67 | 77 | 66 | 1 |
| ACM Research, Inc. | 950.7M | 87 | 57 | 51 | 43 | 50 | 52 | 67 | 1 |
| Hanwha Q CELLS Co., Ltd. | 818.9M | 60 | 93 | 47 | 85 | 74 | 72 | 68 | 1 |
| PDF Solutions, Inc. | 813.0M | 54 | 81 | 64 | 90 | 51 | 62 | 69 | 1 |
| CEVA, Inc. | 804.5M | 82 | 74 | 60 | 87 | 60 | 73 | 70 | 1 |
| Ichor Holdings, Ltd. | 789.3M | 59 | 76 | 65 | 38 | 63 | 59 | 71 | 1 |
| indie Semiconductor, Inc. | 752.7M | 49 | 54 | 72 | 56 | 56 | 44 | 72 | 1 |
| Maxeon Solar Technologies, Ltd. | 603.6M | 87 | 68 | 40 | 78 | 38 | 53 | 73 | 1 |
| Navitas Semiconductor Corporation | 575.2M | 37 | 80 | 80 | 62 | 80 | 67 | 74 | 1 |
| Rigetti Computing, Inc. | 426.1M | 94 | 62 | 85 | 99 | 98 | 98 | 75 | 1 |
| ChipMOS TECHNOLOGIES (Bermuda) LTD. | 417.9M | 60 | 71 | 61 | 60 | 69 | 56 | 76 | 1 |
| Meta Materials Inc. | 414.9M | 51 | 78 | 42 | 41 | 51 | 41 | 77 | 1 |
| Helix Technology Corporation | 364.9M | 66 | 77 | 79 | 85 | 52 | 65 | 78 | 1 |
| CyberOptics Corporation | 278.5M | 71 | 66 | 72 | 64 | 86 | 74 | 79 | 1 |
| Transphorm, Inc. | 260.9M | 41 | 87 | 39 | 47 | 55 | 45 | 80 | 1 |
Income Statement Analysis
Overall, Rockley Photonics's critical income statement metrics appear to signal strong support and a high likelihood of positive growth going forward. Rockley Photonics's financials reveal an interesting trend for their revenue efficiency. This characteristic can affect companies in the same industry and market capitalization by up to 18.5%. Their industry-leading revenue efficiency makes a strong case for upward pressure on its's stock price. Consequently, their revenue efficiency received a grade of 97. Also, Rockley Photonics's reported return on equity (ROE) ratio was 1015.6, representing a change of 319.1%. The company appears headed in the right direction in terms of these return factors, exhibiting prudent capital expenditure growth compared to its peers. Consequently, their return factors received a grade of 83. On the other hand, EBITDA, jumped out as looking problematic. Rockley Photonics reported concerning EBITDA this period. At filing, EBITDA was reported as -121.9, representing -11.2% change from the previous period. This metric might have a 13.2 percent impact on companies in the same industry and with the same market capitalization. The company's EBITDA metrics highlight a difficult overall financial situation, which may, unfortunately, continue moving forward unless management makes significant changes. Its EBITDA movement, therefore, received a grade of 50. As the companie's management is doing an excellent job managing the critical metrics, the income statement was given a score of 79.
| Parameter | Value | Change | Score |
|---|---|---|---|
| EBITDA | -121.9 | -11.2% | 50 |
| Total Revenues | 7.4 | -9.9% | 97 |
| Return on Equity | 1,015.6 | 319.1% | 83 |
The below chart describes Rockley Photonics's performance as reflected on its income statement with respect to its peers. While Rockley Photonics received a income statement score of 79 , the average of its peers stands on 79.0.
- RKLY
- Peers average
| Name | Market Cap | Revenue Momentum | Earning Movement | Return Factors Momentum | Income Statement | mc_sort | Hidden |
|---|---|---|---|---|---|---|---|
| Wolfspeed, Inc. | 8.7B | 49 | 90 | 86 | 69 | 0 | 1 |
| Daqo New Energy Corp. | 5.4B | 37 | 96 | 94 | 65 | 1 | 1 |
| Onto Innovation Inc. | 3.7B | 47 | 87 | 89 | 67 | 2 | 1 |
| JinkoSolar Holding Co., Ltd. | 3.3B | 38 | 89 | 81 | 62 | 3 | 1 |
| NeoPhotonics Corporation | 837.4M | 45 | 95 | 90 | 69 | 4 | 1 |
| Magnachip Semiconductor Corporation | 681.9M | 94 | 80 | 88 | 90 | 5 | 1 |
| Mykrolis Corp. | 657.1M | 68 | 68 | 58 | 67 | 6 | 1 |
| Valens Semiconductor Ltd. | 350.3M | 41 | 86 | 65 | 65 | 7 | 1 |
| NVIDIA Corporation | 422.4B | 46 | 83 | 68 | 63 | 8 | 1 |
| Intel Corporation | 157.9B | 90 | 55 | 73 | 76 | 9 | 1 |
| Texas Instruments Incorporated | 143.5B | 69 | 78 | 71 | 74 | 10 | 1 |
| QUALCOMM Incorporated | 142.4B | 48 | 87 | 79 | 66 | 11 | 1 |
| Advanced Micro Devices, Inc. | 139.6B | 40 | 89 | 38 | 59 | 12 | 1 |
| Broadcom Inc. | 102.5B | 59 | 80 | 90 | 71 | 13 | 1 |
| Applied Materials, Inc. | 84.9B | 72 | 68 | 73 | 72 | 14 | 1 |
| Analog Devices, Inc. | 78.3B | 40 | 91 | 93 | 65 | 15 | 1 |
| Micron Technology, Inc. | 65.6B | 59 | 88 | 90 | 74 | 16 | 1 |
| Lam Research Corporation | 62.4B | 80 | 63 | 75 | 74 | 17 | 1 |
| KLA Corporation | 50.5B | 56 | 77 | 77 | 67 | 18 | 1 |
| NXP Semiconductors N.V. | 41.7B | 59 | 79 | 90 | 71 | 19 | 1 |
| Marvell Technology, Inc. | 40.5B | 41 | 89 | 88 | 64 | 20 | 1 |
| Microchip Technology Incorporated | 33.6B | 57 | 83 | 92 | 71 | 21 | 1 |
| Enphase Energy, Inc. | 27.8B | 45 | 74 | 55 | 57 | 22 | 1 |
| GLOBALFOUNDRIES Inc. | 24.5B | 50 | 93 | 85 | 70 | 23 | 1 |
| ON Semiconductor Corporation | 23.5B | 53 | 92 | 94 | 73 | 24 | 1 |
| Monolithic Power Systems, Inc. | 19.4B | 45 | 90 | 83 | 66 | 25 | 1 |
| SolarEdge Technologies, Inc. | 16.5B | 41 | 70 | 48 | 53 | 26 | 1 |
| Skyworks Solutions, Inc. | 15.8B | 69 | 70 | 63 | 70 | 27 | 1 |
| Teradyne, Inc. | 15.7B | 88 | 57 | 62 | 75 | 28 | 1 |
| Entegris, Inc. | 14.2B | 56 | 80 | 80 | 69 | 29 | 1 |
| Qorvo, Inc. | 10.6B | 76 | 65 | 63 | 71 | 30 | 1 |
| First Solar, Inc. | 7.5B | 98 | 43 | 40 | 73 | 31 | 1 |
| Lattice Semiconductor Corporation | 7.2B | 54 | 88 | 89 | 71 | 32 | 1 |
| MKS Instruments, Inc. | 6.0B | 78 | 66 | 65 | 74 | 33 | 1 |
| Universal Display Corporation | 5.4B | 71 | 63 | 61 | 68 | 34 | 1 |
| Silicon Laboratories Inc. | 5.3B | 44 | 96 | 98 | 70 | 35 | 1 |
| CMC Materials, Inc. | 5.2B | 72 | 76 | 93 | 76 | 36 | 1 |
| Tower Semiconductor Ltd. | 5.1B | 63 | 87 | 82 | 79 | 37 | 1 |
| Synaptics Incorporated | 5.1B | 45 | 91 | 90 | 68 | 38 | 1 |
| Power Integrations, Inc. | 4.5B | 80 | 76 | 83 | 80 | 39 | 1 |
| Amkor Technology, Inc. | 4.3B | 63 | 76 | 77 | 70 | 40 | 1 |
| Cirrus Logic, Inc. | 4.1B | 42 | 92 | 93 | 67 | 41 | 1 |
| Allegro MicroSystems, Inc. | 4.1B | 68 | 48 | 67 | 61 | 42 | 1 |
| SiTime Corporation | 3.8B | 39 | 93 | 78 | 64 | 43 | 1 |
| Semtech Corporation | 3.6B | 64 | 84 | 87 | 75 | 44 | 1 |
| MACOM Technology Solutions Holdings, Inc. | 3.4B | 74 | 77 | 73 | 76 | 45 | 1 |
| SunPower Corporation | 3.2B | 49 | 43 | 72 | 49 | 46 | 1 |
| FormFactor, Inc. | 3.1B | 79 | 76 | 83 | 80 | 47 | 1 |
| Diodes Incorporated | 3.1B | 66 | 84 | 86 | 76 | 48 | 1 |
| Silicon Motion Technology Corporation | 2.9B | 54 | 83 | 78 | 72 | 49 | 1 |
| Nova Ltd. | 2.8B | 41 | 89 | 78 | 70 | 50 | 1 |
| MaxLinear, Inc. | 2.7B | 56 | 92 | 96 | 75 | 51 | 1 |
| Ambarella, Inc. | 2.7B | 56 | 89 | 79 | 71 | 52 | 1 |
| Kulicke and Soffa Industries, Inc. | 2.7B | 73 | 82 | 85 | 79 | 53 | 1 |
| Rambus Inc. | 2.4B | 48 | 85 | 62 | 64 | 54 | 1 |
| Canadian Solar Inc. | 2.2B | 73 | 76 | 53 | 72 | 55 | 1 |
| Axcelis Technologies, Inc. | 1.9B | 44 | 91 | 91 | 67 | 56 | 1 |
| Credo Technology Group Holding Ltd | 1.7B | 38 | 88 | 63 | 60 | 57 | 1 |
| Himax Technologies, Inc. | 1.6B | 53 | 84 | 66 | 70 | 58 | 1 |
| Impinj, Inc. | 1.4B | 64 | 53 | 52 | 59 | 59 | 1 |
| Ultra Clean Holdings, Inc. | 1.4B | 53 | 73 | 71 | 63 | 60 | 1 |
| Cohu, Inc. | 1.4B | 92 | 53 | 49 | 75 | 61 | 1 |
| Photronics, Inc. | 1.3B | 55 | 86 | 92 | 71 | 62 | 1 |
| Camtek Ltd. | 1.1B | 50 | 81 | 71 | 68 | 63 | 1 |
| SMART Global Holdings, Inc. | 1.1B | 48 | 86 | 68 | 65 | 64 | 1 |
| Veeco Instruments Inc. | 1.0B | 66 | 84 | 91 | 76 | 65 | 1 |
| Alpha and Omega Semiconductor Limited | 957.1M | 62 | 75 | 76 | 69 | 66 | 1 |
| ACM Research, Inc. | 950.7M | 88 | 42 | 42 | 67 | 67 | 1 |
| Hanwha Q CELLS Co., Ltd. | 818.9M | 90 | 59 | 63 | 70 | 68 | 1 |
| PDF Solutions, Inc. | 813.0M | 49 | 95 | 89 | 71 | 69 | 1 |
| CEVA, Inc. | 804.5M | 51 | 90 | 97 | 71 | 70 | 1 |
| Ichor Holdings, Ltd. | 789.3M | 72 | 60 | 55 | 67 | 71 | 1 |
| indie Semiconductor, Inc. | 752.7M | 37 | 47 | 69 | 43 | 72 | 1 |
| Maxeon Solar Technologies, Ltd. | 603.6M | 50 | 49 | 60 | 49 | 73 | 1 |
| Navitas Semiconductor Corporation | 575.2M | 56 | 45 | 72 | 53 | 74 | 1 |
| Rigetti Computing, Inc. | 426.1M | 92 | 44 | 69 | 73 | 75 | 1 |
| ChipMOS TECHNOLOGIES (Bermuda) LTD. | 417.9M | 87 | 49 | 76 | 66 | 76 | 1 |
| Meta Materials Inc. | 414.9M | 37 | 45 | 70 | 43 | 77 | 1 |
| Helix Technology Corporation | 364.9M | 89 | 47 | 51 | 74 | 78 | 1 |
| CyberOptics Corporation | 278.5M | 54 | 87 | 87 | 71 | 79 | 1 |
| Transphorm, Inc. | 260.9M | 37 | 81 | 97 | 68 | 80 | 1 |
Cash Flow Analysis
Rockley Photonics's recently published cash flow conveys disappointing growth, particularly with respect to Asset Turnover and Capital Expenditure. metrics. Rockley Photonics's asset turnover numbers were discouraging, reflecting significant concerns related to management's ability to leverage assets to generate sales effectively and efficiently. Rockley Photonics recorded asset turnover of 0.1, which represents a -17.4% change from the previous report. Companies in the same industry and market capitalization are typically affected by this parameter by up to 10.7%. The company's asset turnover metrics seem especially problematic relative to their peers. Correspondingly, their asset turnover movement received a grade of 46. Also, Rockley Photonics's published capital expenditures (CapEx) numbers were discouraging and reflected management's unbalanced growth strategy. Rockley Photonics recorded CapEx of -8.6, which represents a -3.6% change from the previous report. They appears to be headed in the wrong direction regarding resource allocation, exhibiting prudent capital expenditure growth compared to its peers. Therefore, their CapEx movement component earned a score of 66. That said, one metric, Net Cash Flow, stood out as strongly positive. Rockley Photonics's management was effective in improving their net cash flow, which now sits at -57.7 and represents a -428.8% change from the previous report. Their net cash flow metrics are especially remarkable relative to their peers. Consequently, their net cash flow movement received a grade of 80. Therefore, it received a cautionary score of 59.
| Parameter | Value | Change | Score |
|---|---|---|---|
| Net Cashflow | -57.7 | -428.8% | 80 |
| Capital Expenditure | -8.6 | -3.6% | 66 |
| Asset Turnover | 0.1 | -17.4% | 46 |
| Free Cashflow | -1.3 | 0.4% | 72 |
The below chart describes Rockley Photonics's performance as reflected on its cash flow with respect to its peers. While Rockley Photonics received a cash flow score of 59, the average of its peers stands on 59.0.
- RKLY
- Peers average
| Name | Market Cap | Cashflow Momentum | Free Cashflow Growth | Capital Expenditure Growth | Assets Factors Momentum | Cash Flow | mc_sort | Hidden |
|---|---|---|---|---|---|---|---|---|
| Wolfspeed, Inc. | 8.7B | 57 | 74 | 76 | 46 | 55 | 0 | 1 |
| Daqo New Energy Corp. | 5.4B | 78 | 86 | 63 | 96 | 89 | 1 | 1 |
| Onto Innovation Inc. | 3.7B | 95 | 65 | 88 | 85 | 85 | 2 | 1 |
| JinkoSolar Holding Co., Ltd. | 3.3B | 67 | 69 | 73 | 78 | 74 | 3 | 1 |
| NeoPhotonics Corporation | 837.4M | 50 | 63 | 67 | 87 | 72 | 4 | 1 |
| Magnachip Semiconductor Corporation | 681.9M | 65 | 56 | 76 | 54 | 57 | 5 | 1 |
| Mykrolis Corp. | 657.1M | 65 | 69 | 68 | 82 | 75 | 6 | 1 |
| Valens Semiconductor Ltd. | 350.3M | 53 | 89 | 90 | 46 | 66 | 7 | 1 |
| NVIDIA Corporation | 422.4B | 93 | 65 | 61 | 86 | 82 | 8 | 1 |
| Intel Corporation | 157.9B | 57 | 72 | 68 | 53 | 58 | 9 | 1 |
| Texas Instruments Incorporated | 143.5B | 74 | 74 | 63 | 69 | 70 | 10 | 1 |
| QUALCOMM Incorporated | 142.4B | 65 | 65 | 70 | 87 | 77 | 11 | 1 |
| Advanced Micro Devices, Inc. | 139.6B | 93 | 66 | 69 | 37 | 57 | 12 | 1 |
| Broadcom Inc. | 102.5B | 74 | 76 | 87 | 89 | 85 | 13 | 1 |
| Applied Materials, Inc. | 84.9B | 75 | 59 | 69 | 72 | 69 | 14 | 1 |
| Analog Devices, Inc. | 78.3B | 78 | 76 | 51 | 94 | 84 | 15 | 1 |
| Micron Technology, Inc. | 65.6B | 81 | 85 | 81 | 74 | 80 | 16 | 1 |
| Lam Research Corporation | 62.4B | 72 | 60 | 56 | 75 | 68 | 17 | 1 |
| KLA Corporation | 50.5B | 70 | 76 | 52 | 79 | 74 | 18 | 1 |
| NXP Semiconductors N.V. | 41.7B | 59 | 72 | 51 | 85 | 73 | 19 | 1 |
| Marvell Technology, Inc. | 40.5B | 94 | 84 | 58 | 46 | 65 | 20 | 1 |
| Microchip Technology Incorporated | 33.6B | 80 | 79 | 48 | 84 | 79 | 21 | 1 |
| Enphase Energy, Inc. | 27.8B | 89 | 77 | 64 | 40 | 60 | 22 | 1 |
| GLOBALFOUNDRIES Inc. | 24.5B | 54 | 86 | 45 | 64 | 64 | 23 | 1 |
| ON Semiconductor Corporation | 23.5B | 60 | 79 | 55 | 74 | 70 | 24 | 1 |
| Monolithic Power Systems, Inc. | 19.4B | 84 | 78 | 59 | 75 | 77 | 25 | 1 |
| SolarEdge Technologies, Inc. | 16.5B | 46 | 38 | 55 | 52 | 43 | 26 | 1 |
| Skyworks Solutions, Inc. | 15.8B | 78 | 57 | 79 | 73 | 71 | 27 | 1 |
| Teradyne, Inc. | 15.7B | 75 | 65 | 66 | 68 | 68 | 28 | 1 |
| Entegris, Inc. | 14.2B | 60 | 57 | 50 | 77 | 65 | 29 | 1 |
| Qorvo, Inc. | 10.6B | 78 | 65 | 87 | 71 | 73 | 30 | 1 |
| First Solar, Inc. | 7.5B | 46 | 84 | 56 | 46 | 53 | 31 | 1 |
| Lattice Semiconductor Corporation | 7.2B | 79 | 77 | 43 | 82 | 77 | 32 | 1 |
| MKS Instruments, Inc. | 6.0B | 58 | 58 | 92 | 56 | 59 | 33 | 1 |
| Universal Display Corporation | 5.4B | 74 | 81 | 68 | 65 | 71 | 34 | 1 |
| Silicon Laboratories Inc. | 5.3B | 70 | 89 | 81 | 88 | 86 | 35 | 1 |
| CMC Materials, Inc. | 5.2B | 72 | 66 | 68 | 80 | 75 | 36 | 1 |
| Tower Semiconductor Ltd. | 5.1B | 76 | 57 | 55 | 58 | 68 | 37 | 1 |
| Synaptics Incorporated | 5.1B | 85 | 62 | 98 | 55 | 67 | 38 | 1 |
| Power Integrations, Inc. | 4.5B | 88 | 77 | 64 | 82 | 82 | 39 | 1 |
| Amkor Technology, Inc. | 4.3B | 46 | 57 | 61 | 71 | 60 | 40 | 1 |
| Cirrus Logic, Inc. | 4.1B | 83 | 98 | 61 | 90 | 91 | 41 | 1 |
| Allegro MicroSystems, Inc. | 4.1B | 56 | 56 | 77 | 56 | 56 | 42 | 1 |
| SiTime Corporation | 3.8B | 83 | 87 | 56 | 44 | 62 | 43 | 1 |
| Semtech Corporation | 3.6B | 79 | 78 | 58 | 79 | 78 | 44 | 1 |
| MACOM Technology Solutions Holdings, Inc. | 3.4B | 46 | 78 | 54 | 78 | 69 | 45 | 1 |
| SunPower Corporation | 3.2B | 84 | 41 | 39 | 93 | 74 | 46 | 1 |
| FormFactor, Inc. | 3.1B | 78 | 81 | 66 | 58 | 68 | 47 | 1 |
| Diodes Incorporated | 3.1B | 77 | 61 | 52 | 80 | 72 | 48 | 1 |
| Silicon Motion Technology Corporation | 2.9B | 63 | 53 | 46 | 85 | 61 | 49 | 1 |
| Nova Ltd. | 2.8B | 58 | 53 | 39 | 56 | 54 | 50 | 1 |
| MaxLinear, Inc. | 2.7B | 90 | 92 | 80 | 81 | 88 | 51 | 1 |
| Ambarella, Inc. | 2.7B | 84 | 95 | 45 | 75 | 80 | 52 | 1 |
| Kulicke and Soffa Industries, Inc. | 2.7B | 93 | 81 | 83 | 74 | 83 | 53 | 1 |
| Rambus Inc. | 2.4B | 96 | 73 | 89 | 89 | 90 | 54 | 1 |
| Canadian Solar Inc. | 2.2B | 69 | 70 | 74 | 68 | 71 | 55 | 1 |
| Axcelis Technologies, Inc. | 1.9B | 81 | 77 | 68 | 85 | 82 | 56 | 1 |
| Credo Technology Group Holding Ltd | 1.7B | 60 | 85 | 37 | 43 | 53 | 57 | 1 |
| Himax Technologies, Inc. | 1.6B | 66 | 77 | 48 | 79 | 67 | 58 | 1 |
| Impinj, Inc. | 1.4B | 70 | 38 | 85 | 73 | 65 | 59 | 1 |
| Ultra Clean Holdings, Inc. | 1.4B | 68 | 41 | 41 | 76 | 62 | 60 | 1 |
| Cohu, Inc. | 1.4B | 92 | 62 | 71 | 44 | 59 | 61 | 1 |
| Photronics, Inc. | 1.3B | 65 | 92 | 96 | 79 | 83 | 62 | 1 |
| Camtek Ltd. | 1.1B | 69 | 70 | 74 | 72 | 71 | 63 | 1 |
| SMART Global Holdings, Inc. | 1.1B | 47 | 85 | 95 | 54 | 62 | 64 | 1 |
| Veeco Instruments Inc. | 1.0B | 73 | 82 | 48 | 69 | 71 | 65 | 1 |
| Alpha and Omega Semiconductor Limited | 957.1M | 49 | 64 | 45 | 59 | 54 | 66 | 1 |
| ACM Research, Inc. | 950.7M | 62 | 43 | 50 | 54 | 50 | 67 | 1 |
| Hanwha Q CELLS Co., Ltd. | 818.9M | 64 | 63 | 74 | 73 | 68 | 68 | 1 |
| PDF Solutions, Inc. | 813.0M | 81 | 98 | 45 | 92 | 89 | 69 | 1 |
| CEVA, Inc. | 804.5M | 57 | 54 | 84 | 83 | 71 | 70 | 1 |
| Ichor Holdings, Ltd. | 789.3M | 51 | 37 | 87 | 71 | 59 | 71 | 1 |
| indie Semiconductor, Inc. | 752.7M | 69 | 80 | 52 | 98 | 85 | 72 | 1 |
| Maxeon Solar Technologies, Ltd. | 603.6M | 87 | 90 | 59 | 88 | 84 | 73 | 1 |
| Navitas Semiconductor Corporation | 575.2M | 70 | 87 | 94 | 93 | 90 | 74 | 1 |
| Rigetti Computing, Inc. | 426.1M | 48 | 76 | 51 | 60 | 58 | 75 | 1 |
| ChipMOS TECHNOLOGIES (Bermuda) LTD. | 417.9M | 66 | 64 | 68 | 94 | 73 | 76 | 1 |
| Meta Materials Inc. | 414.9M | 85 | 56 | 68 | 97 | 84 | 77 | 1 |
| Helix Technology Corporation | 364.9M | 75 | 62 | 63 | 56 | 61 | 78 | 1 |
| CyberOptics Corporation | 278.5M | 49 | 74 | 89 | 78 | 72 | 79 | 1 |
| Transphorm, Inc. | 260.9M | 81 | 87 | 96 | 94 | 88 | 80 | 1 |
This report is intended for general guidance and information purposes only and under no circumstances is tailored to a specific factor or variable related to its reader or intended to be used or considered as financial or investment advice, a solicitation of any offer, a recommendation, or an offer to sell or buy any securities or other form of a financial asset. For the full disclaimer, click here.