It’s earnings season again as the ASX market announcements page becomes increasingly flooded with earnings lodgements.

To save you the trouble of trudging through it all, we’ve wrapped up the highlights from some of the reports that caught our eye.

 

Nuix (ASX:NXL)

Highlights:

  • Full year statutory revenue $182.5m, up 19.8% on pcp
  • NPAT loss of ($5.6m), down from ($22.8m) in pcp
  • Annualised Contract Value (ACV) $185.5m, up 14.5% on pcp

Despite reporting a bottom line loss, Nuix says its crucial metric, the ACV – which provides an annualised “run rate” of the value of Nuix’s contract value at a given point in time –  rose by 14.5% compared to the pcp.

All three reporting regions, specifically North America, EMEA and Asia Pacific, reported double-digit ACV growth for the year.

Customer churn remained stable, falling slightly to 5.3%, from 5.4% in the pcp.

Nuix maintained elevated levels of research and development investment during the year, with total spend up 3% (including FX impact).

CEO Jonathan Rubinsztein says he’s pleased with the progress of the company’s “strategic refresh” initiatives.

“The strategic refresh agenda that we first articulated 18 months ago was built upon a greater focus on customer centricity and structured around three horizons of growth. I’m pleased to report that very significant progress has been made on projects across all three horizons.”

The NXL share price fell around -12% today.

 

Super Retail Group (ASX:SUL)

Highlights:

  • Full year group sales up 7% on pcp to $3.8 billion
  • Statutory NPAT up 9% to $263m on pcp
  •  Solid balance sheet – no drawn bank debt and $192 million cash balance

The owner of sports and auto brands Supercheap Auto, Rebel, BCF and Macpac has delivered strong full year results with another year of record sales and improved profitability.

Ongoing investment in the group’s store network through new store openings, refurbishments and the roll-out of new formats was a key driver of revenue growth.

The group’s financial performance was also underpinned by the addition of more than a million active club members to its customer loyalty base in the past 12 months.

“The group now has more than 10 million active club members across its loyalty programs, representing 73 per cent of group sales,” said CEO, Anthony Heraghty.

In FY24, SUL is planning to open 24 new stores, continue the roll-out of the BCF Superstore and Rebel rCX store formats, and convert more Supercheap Auto stores to a next generation format.

“We also see a significant opportunity to leverage our customer loyalty base, including through the relaunch of the Rebel loyalty program prior to Christmas,” said Heraghty.

SUL rose 4% this morning.

 

NextEd Group (ASX:NXD)

Highlights:

  • H1 FY24 revenue to be in the range of $59m to $63m, 35% to 44% higher than the pcp.
  •  H2 FY24 revenue will be higher than both H1 FY24, and the H2 FY23 pcp

The education company fell -33% this morning after saying that many international students are abandoning their studies and moving to the temporary Covid-19 408 Visa to undertake unskilled work.

The company believes the adverse impact of this will be over $0.7 billion to the education industry.

While the 408 Visa subclass can be revoked at any time, the future impacts will remain uncertain.

NextEd says it will nevertheless be adopting measures to mitigate the effects, and is confident these measures will materially offset any 408 Visa impacts.

 

Damstra Holdings (ASX:DTC)

Not earnings related, but the workplace management solutions provider rose 9% this morning after announcing that it has delivered $2.8m in further cost savings following a company-wide initiative.

The impact of these cost savings will be seen from Q2 FY24. Actions to implement the remaining savings are in progress, which will impact H2 FY24.

At a strategic level, the completion of this initiative has further underpinned Damstra’s sustainable free cash flow generation. At an aggregate level, this is a ~10% reduction on the FY23 cost base.

Damstra also said it is strategically targeting a cost to revenue ratio in the low 80% range.

The DTC share price rose around 9% today.

 

Share prices today:

 

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