Hardman & Co Research: LightwaveRF (LWRF): Swith to Smart (Initiation)

Hardman & Co Research: Switch to Smart

Against a market backdrop of strong growth in consumer adoption of smart home products, Lightwave's next-generation products are seeing a combination of favourable reviews and accelerating sales. An almost three-fold increase in direct-to-consumer revenue to £1.24m in 2018, from £0.35m in 2017, was followed by an overall revenue growth run rate for the first two months of 2019 that was 25% higher than the 4Q'18 run rate. Led by an experienced new CEO, digital marketing and distribution initiatives are among the management team's highest priorities. The £2.5m fundraising, due to be completed in March 2019, will allow the company to execute on these initiatives.

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