ASX Earnings Wrap: Spectur sees healthy pipeline ahead; Medlab’s focus turns to biotech
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It’s the half yearly 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.
Highlights for Q2 FY23:
During the quarter, Medlab’s cash receipts increased to $563k, which includes $275K royalty payment from Pharmacare Laboratories and $33k of export grant.
Medlab continues to review its operations, cash flow and resource requirements, including the closure of the Alexandria site.
With the business having a more streamlined biotech focus, Medblab believes a greater portion of labour and overheads will now be eligible for R&D grant receipts.
The company’s US Nasdaq IPO has been delayed due to market conditions which are beyond anyone’s control and represent a temporary setback.
Despite the setback, Medlab has continued to validate its unique delivery platform that improves bioavailability of its medicines, as per the company’s patent.
Recently, the company announced the interim readout for the NanaBis MEDCARE study – with data points strongly suggesting a very viable pain medicine which can rival opioid use in the multi-billion dollar cancer pain market.
Highlights for Q2 FY23:
The record revenue in the quarter was was underpinned by continuing growth in hardware sales, installation fees, and recurring revenue of $925k representing some 47% of total revenue.
Underpinning the recurring revenue figure was the deployment of the rental fleet reaching new all-time highs, with 390 active systems deployed – a growth of 10% over the previous peak in December 2021.
December revenue was also the second highest month of revenue on record, despite substantial truncation in business hours compared to other months.
The pipeline of sales opportunities was $9.8m at the end of Q2 FY23, slightly down from $10.1m reported in the Q1 FY23.
Spectur says the healthy pipeline continues to be populated with quality customers in government, utilities, building and construction along with adjacent industries.
“With positive cash generation, record revenue, our largest ever weighted pipeline and a pending acquisition that will accelerate our long term strategic goals there are many reasons to be optimistic about the future of Spectur,” said CEO, Gerard Dyson.
Highlights for the month ended 31 December:
For the second month in a row, Sezzle achieved positive Net Income and Adjusted EBTDA.
Sezzle Premium now has over 122,000 active subscribers, with active subscriptions remaining relatively stable during the holiday season.
CEO Charlie Youakim said Sezzle is on the path to profitability, with a well-capitalised balance sheet that does not require additional capital.
“We are now working on additional initiatives to build upon what we have started and achieve positive Net Income and Adjusted EBTDA for 2023,” he added.
Serko announced an upgrade to its revenue guidance for the FY23 year, following stronger than expected performance across its primary markets.
Total income is expected to be in the range of $42 million to $47 million.
This represents an increase of between 123% and 149% respectively on total income of $18.9 million for the 12 months to 31 March 2022.
Serko says solid trading results over the traditionally seasonally low period, from late December through to mid-January, has given greater certainty over expected revenue for the rest of the financial year.
Highlights for H1 FY23:
Cleantech designs, manufactures, and sells respiratory protection solutions for industrial and healthcare markets.
In the first half, North America revenue was up 102% on prior half and up 18% on pcp.
Europe revenue was up 60% on pcp, and down 23% on prior half reflecting lower activity through the European summer period.
Asia revenue was down 30% against prior half, and down 68% on pcp reflecting lower healthcare sales after the pandemic fuelled demand in the region in FY22.
Cleantech says it has several initiatives in place that it expects will drive stronger sales performance this year.
At Stockhead we tell it like it is. While Medlab Clinical and Spectur are Stockhead advertisers, they did not sponsor this article.