Here's a tasty stack of ASX quarterly reports. PIc: via Getty Images
ASX Quarterly Wrap: Bioxyne revenue jumps following BLS acquisition, iCandy cash receipts climb
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It’s the quarterly season again as the ASX market announcements page becomes increasingly flooded with update lodgements.
To save you the trouble of trudging through it all, we’ve wrapped up the highlights from some of the (non-resources) reports that caught our eye.
Bioxyne (ASX:BXN)
Bioxyne recorded pro-forma annualised aggregated group revenue for the year ending 30 June 2023 of about $7.7m, up more than 200% over the previous financial year due to the acquisition of Breathe Life Sciences in May 2023.
BLS itself saw a +400% increase in revenue to $5.3m and is targeting further growth following the acquisition and launch of BLS Clinics – Online tele-Healthcare in June 2023, and expanding its ecommerce footprint on Amazon to the US and Japan.
Meanwhile, the fall in Bioxyne’s wholesale sales of its Lactobacillus Fermentum PCC product were offset by increasing direct sales.
The company is looking to launch a nano encapsulated update of its Progastrim probiotic product, which significantly increases shelf life and product stability, through its BLS e-commerce platforms in the second half of 2023.
It has also appointed BLS co-founder and chief executive officer Sam Watson and chief operating officer Jason Hine as directors, replacing Guy Robertson and Peter Hughes-Hallett who resigned in May.
iCandy Interactive (ASX:ICI)
Stronger billings and collections have allowed mobile games developer and publisher iCandy to report cash receipts of $6m in the June 2023 quarter, up 53% from the previous quarter.
Company subsidiary Lemon Sky Studios also participated in work-for-hire game projects Monopoly Go!, Redfall, Street Fighter 6 and Final Fantasy XVI, which were all released during the quarter and have garnered substantial attention and success.
It also participated in DreamWorks’ animation series, Not Quite Narwhal, which is now streaming on Netflix.
iCandy also collaborated closely with The Sandbox to further develop and expand the latter’s virtual gaming universe with its subsidiaries Lemon Sky Studios and Hashcode Studio listed as official certified metaverse asset builders that actively contributed to the creation and design of immersive experiences within The Sandbox’s metaverse.
During the quarter, the company appointed Lemon Sky Studios co-founder and chief operating officer Ken Foong Ka King as an executive director and Irene Wong Sook Lin as a non-executive director representing Lemon Sky Studios chief executive officer Cheng-Fei Wong.
Peppermint Innovation (ASX:PIL)
During the June quarter, Peppermint continued to build its bizmoloan operations with a 53% increase in applications (and 31% increase in approvals) quarter on quarter while total bizmoloan value and revenue increased by 24% and 21% respectively.
The company also continued work and data analysis with respect to profitability in this operation, which led to the launch and focus on two new loan products – Employee Loans and Micro-Business Loans.
Peppermint has also carried out technical improvements to its bizmoto platform and bizmoLoan functionality to optimise customer experience, with a view to increasing the number of customers transactions.
Additionally, it has completed work for MASS-SPECC’s Pinoy Coop App launch with all back-end integration of bizmoto’s EMI financial services now in place while discussions are underway with MASS-SPECC to identify and provide technical solutions to overcome third party front end delay and help deploy Pinoy Coop App as quickly as possible.
The company’s continued marketing and promotion of the bizmoto platform has also increased the number of agents and merchants.
Sprintex (ASX:SIX)
Increased uptake of Sprintex’s products have allowed the company to deliver a 362% increase in cash receipts during the current quarter over the previous corresponding quarter to $206,0000.
Along with a 43% improvement to its cash outflow from operating activities, the clean air compressor engineering, research, product development and manufacturing company believes it is on track to be cashflow positive over the coming quarter.
Part of it is due to its completing the manufacturing, testing, and commencing delivery of the initial $270,000 e-compressor order for the European €14m sHyPs hydrogen powered cruise liner decarbonisation program, which is expected to bring total revenue of about $1.5m for a six-ship trial.
Sprintex has also made significant advances and completed initial energy consumption and wastewater oxygenation efficiency testing of its new general purpose industrial blowers with “Smart Pulse Aeration” that show up to 40% energy savings compared to traditional systems.
During the June 2023 quarter, company directors and convertible note holders also demonstrated their belief in the company by converting notes worth $1m into shares at 7.5c each, more than twice the closing share price of 3.3c on 26 June 2023.
Strategic Elements (ASX:SOR)
Leading the charge for Strategic is the multiple successful breakthroughs that it has achieved for its Energy Ink technology, improving its efficiency, durability, and other performance characteristics by manipulating the fundamental properties of materials.
During the quarter, the ink formula was also significantly altered to enable ultra-thin layers to be screen printed after applying an innovative method reduced the thickness of the graphene oxide functional layer to about 20 microns – an achievement that is expected to endear Energy Ink to device manufacturers.
Strategic’s Australian Advanced Materials subsidiary has also started developing an Energy Ink cell for renewable energy generation where solar or grid energy is impractical or too expensive by stacking ultra-thin cells into an Energy Ink cube.
Meanwhile, its Stealth Technologies subsidiary continues to develop an AI-powered solution to increase mine throughput and productivity using data collected live underground from operational mining environments.
The company’s Maria Resources arm reviewed the Leviathan project, where a large unexplained gravity anomaly is surrounded by a field of up to 100 inferred volcanic pipes, using innovative, scientific geological models to uncover potential for rare earths, copper, or gold related to an alkaline system.
