Australian (ASX) Stock Market Forum

SMN - Structural Monitoring Systems

SMN a step closer to FAA certification. Its in a precarious position with very little cash and quite a bit of debt, but will be one to watch over the next couple of years to see if it can transform into an investible business once it gets certification.
 
While waiting for FAA approval the AEM side of the business has been releasing new product lines in the Helicopter field.

The CVM side continues to prepare other airlines that fly Boeing planes and and other aircraft manufaturers.
 
What do you mean by "trading in the black"? Based on published information its still loss making. Do you have information not available to the market or are you basing that on the bull**** EBITDA numbers?
 
Good 3rd quarter results for SMN. Still waiting on Boeing/FDA approval. Delta Air Lines confirms 64 of 71 APB sensor installations completed on eligible 737 aircraft.
 
I guess a slightly positive OCF is at lease not a bad result, the debt is still a problem despite reducing it by spending nearly all their cash reserves this quarter. Down to only $1.5m in the bank with nearly $10m in debt, they are either going to need a massive increase in revenue and profit, or another cap raise very soon.
 
AEM side of the business continuing to surprise on the upside.

Each day gets closer to CVM approval. Recent report from FAA may require Beoing to use sensors in other areas of their planes.
 
Boeing expected to submit their report to FAA in July/August. Approval expected within 2 to 3 months.
 
Early signs that SMN is becoming an investible business, they have paid down the debt, will make a small profit for the first time this FY, are now OCF+ and getting closer to FCF+. Its definitely worth keeping an eye on now, whether its a one off or sustained is critical, and in reality its come from reduced costs not revenue growth so it may be an outlier.

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Early signs that SMN is becoming an investible business, they have paid down the debt, will make a small profit for the first time this FY, are now OCF+ and getting closer to FCF+. Its definitely worth keeping an eye on now, whether its a one off or sustained is critical, and in reality its come from reduced costs not revenue growth so it may be an outlier.

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Why are they listed on the ASX and not in North America? I'm always worried about ASX companies operating overseas - however at least these ones seem to only operate overseas rather than start here and expand.
 
Good question! Agree, I dont mind when its where they operate from the beginning, its the expansion into the US market which is scattered with the skeletons of failures
 
Finally approval for the CVM approval is now expected by November. Othe aircraft manufuturers (Boing and Airbus) have now started tests and trials on their planes.

AEM making good profits.

The share price has moved up over 20% recently in expectation.
 
First half 2026 will be the next hurdle, if they can maintain positive earnings and maybe even get FCF +'ve, then I think they start moving towards potentially being an investible business. Lack of revenue growth is a concern as it implies earnings were only the result of cost cutting. It will be interesting to see the full financials in the Annual Report too.
 
Finally approval for the CVM approval is now expected by November. Othe aircraft manufuturers (Boing and Airbus) have now started tests and trials on their planes.

AEM making good profits.

The share price has moved up over 20% recently in expectation.
The one I forgot to mention is the testing of CVM with US Airforce refuelling planes. The difference with this testing is that they do their own certifying - FAA are not involved.
 


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