It’s quarterlies season as the ASX market announcements page becomes increasingly flooded with lodgements. Cybersecurity, healthcare and adtech companies posted positive results.
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It’s quarterlies season as the ASX market announcements page becomes increasingly flooded with lodgements.
Cybersecurity, biotech and adtech companies were some that posted positive results today.
Here’s some of the reports which have caught our eye.
During the quarter, exosome specialist INOVIQ signed a contract research agreement with Canadian-based Nicoya to transfer, develop and evaluate a SubB2M-based Surface Plasmon Resonance (SPR) test on Nicoya’s AltoTM Digital SPR instrument.
Nicoya had previously conducted an initial feasibility study that found INOVIQ’s SubB2M-based SPR test was compatible with the Alto instrument.
INOVIQ also appointed US-based Percorso to provide sales, inventory, logistics and warehousing services for the commercial rollout of EXO-NET.
The sales team will cover the key east coast, west coast and mid-west US regions, and target academia and biopharma customers in the marketing of EXO-NET research tools.
INOVIQ announced the grant of two US patents, one for the SubB2M technology and the other for hTERT.
Meanwhile, the melanoma IHC study during the quarter conducted on 144 tissue samples demonstrated that the SubB2M staining score was significantly greater in malignant and metastatic samples when compared to benign (p < 0.003 and p < 0.03, respectively).
The SubB2M IHC test correctly classified 91% of malignant and metastatic melanoma tissue samples.
During the quarter, INOVIQ announced that Mark Edwards will join the company as chief financial officer and company secretary, effective 2 November 2022, succeeding Tony Di Pietro.
INOVIQ is well funded, with a cash balance of $13.5m as at 30 September, and R&D tax incentive refund of $865k received post quarter end.
The financial research company had a busy quarter focusing on revenue generation from subscriptions to its core Equity Story media service – which includes daily podcasts, market commentary, trading strategies and stock analysis.
New revenue streams are being put in place including preparations to launch Stock Trader Education Seminars branded “Cincinnati Trading Method”, which has been developed by the company over eight years.
This will be marketed and offered as a standalone product, initially to the Australian investing public, with the intention of rolling out into overseas markets once established in the local market.
Another newly implemented revenue stream is Capital Markets, providing access for wholesale investor members to corporate opportunities.
During the quarter, Equity Story Securities earned revenues of ~$180k from Capital Markets unit activities.
In the quarter, receipts from customers rose 124% from the last quarter to $467k.
EQS made strategic investments of $552k including the acquisition of A Rich Life and an investment in AusBiz TV.
Operating overheads (staff, admin and corporate) increased by 9% compared to the previous quarter with the ongoing investment in people and resources.
Total headcount is currently 16 including 10 full-time employees and 6 part-time employees and contractors, including directors.
At the end of September, cash balance was $2.663 million.
The company recorded $23.8m in cash receipts for the quarter, which is +13% versus the pcp.
During the quarter, the company launched six additional Australian platform and Managed Trading Services customers, taking the total to 24 as at September.
Combined annualised turnover was greater than $2bn across the platform clients.
The number of downloads is estimated in excess of 100k for the quarter, representing around 20% of traditional Australian wagering app downloads.
These figures exclude the new Betr platform, which was launched in October.
As announced in June, BetMakers was awarded the rights to offer PENN National Gaming racing content outside of the US and Canadian markets, for fixed odds bets and exchange wagering.
As part of this agreement, BetMakers paid PENN National Gaming the first-year minimum guarantee upfront, which equates to approximately $5.8 million and this was paid during Q1.
During the quarter, BetMakers also initiated an on-market buy-back to acquire up to 10% of the company.
The cyber security company announced another strong start to its FY23 financial year, with continued revenue and earnings growth in Q1 versus the pcp.
Turnover was $39.7m, up 40% on pcp. Bottom line EBITDA was $2.5m, up 26% on pcp.
Annual Recurring Revenue (ARR) has continued to sustainably grow and now represents 48% of annual group turnover.
Tesserent says there is a significant increase in client engagement and pipeline opportunities recorded in the last month following recent high-profile cybersecurity breaches.
The company’s cash position was $9.5m at 30 September, reflecting payment of $5.6m in deferred consideration liabilities settled in the quarter.
The clinical stage pharmaceutical cannabinoid and psychedelics company achieved a several milestones during the September quarter, including approval from the Bellberry Human Research Ethics Committee for a Phase 1 clinical trial investigating its anti-inflammatory drug IHL-675A.
Participant recruitment for the trial started in August and positive preliminary results were released after the quarter ended earlier this month.
In August, IHL engaged Curia Globa to further develop and manufacture GMP-grade IHL-216A, its proprietary inhaled drug product for the treatment of concussion and traumatic brain injury.
IHL also finalised all matters related to the acquisition of leading cannabinoid biotech APIRx Pharmaceuticals and appointed experienced pharmaceutical executive Robert B Clark to its board of directors.
IHL recorded $33.4m in cash at bank on September 30, 2022, with $2.256m recorded as outflows associated with research and development.
IHL said it was worth noting it’s eligible to receive an annual cash rebate equivalent to ~43.5% of all monies spent on research and development in Australia.
The digital ad fraud prevention specialist reported annual revenue up 88% to $3 million. The rapid growth in annualised revenue led to growing cash receipts, which increased 40% from Q1 FY22 to $593k in Q1FY23.
The rapid growth in annualised revenue was underpinned by new customer wins for TrafficGuard and its omni-channel solution.
AV1 signed blue-chip enterprise clients Better Collective, Lux Escapes and Disney Streaming Services. It also entered a new go-to-market partnership with online gaming affiliate tracking platform RavenTrack.
The company said its continues to see cross-selling and up-selling opportunities across TrafficGuard’s omni-channel suite for Google PPC verification, affiliate verification and social verification.
MDC reported NanaBis/NanoCBD sales to patients via Doctors Special Access Scheme Approval was $300k for Q1 FY23, while the company received a research and development grant of $3.6m.
Expenditure was $3.2m of which some $300k was spent on drug development work for NanaBis at USA registered drug development facility.
Cash as of September 30 was $5.3m. The expectation is approximately $1m will be recovered from expenditure in next Research and Development grant in Sept 2023.
Major work for MDC’s planned Nasdaq listing has been completed and relevant applications lodged with authorities with its reserved symbol MDLB.
NanaBis work published The NanaBis Advanced Cancer Pain P1/P2 study conducted at the Royal North Shore Hospital under Professor Stephen Clarke has also been peer reviewed and published in PLOS One.
The health and wellness company announced record revenue for Q1 FY23 of $6.88 million, up 81% on PCP (Q1 FY22: $3.8 million), with strong growth in Wellnex’s owned brands and contract manufacturing.
Cash receipts for the quarter were $5.23 million, with substantial cash inflow expected in Q2 following strong revenue in Q1, brand launches and increasing contract manufacturing orders.
WNX has made significant investment in new brands and products launched in the period and the remainder of FY23, as well as preparation for S3 medicinal cannabis approval.
Mark Wahlberg’s Performance Inspired sports supplements brand and Organic A2 infant formula brand, Ocean Road Dairies, were launched during Q1.
Pivotal Joint Venture with OneLife Botanicals as Wellnex continues to progress an over-the-counter S3 approval for medicinal cannabis products and prepares to launch medicinal cannabis products under the Special Access Scheme.
Wellnex reaffirms its guidance for FY23 of $29 million in revenue.
At Stockhead we tell it like it is. While Incannex, Adveritas, Medlab Clinical, Wellnex Life, INOVIQ, Equity Story Group are Stockhead advertisers, they did not sponsor this article.
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