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 reports that caught our eye.


Netlinkz (ASX:NET)


  • Group revenue for December quarter up 23% on previous quarter to $7.4 million and a 27.5% increase on pcp
  • Satellites Division (Starlink) sales for the quarter contributed $2.6 million a 37% increase over the prior quarter
  • Diversification of revenue continuing rise with Ex-China recurring revenue for the Group increasing to $300k per month

The global network solutions vendor NET says offices opened in Thailand, Malaysia, Pakistan, Chile and are in progress in Dubai and the Philippines.

China revenue for the quarter was $4 million, which NET says was in line with expectations despite the challenging economic environment facing corporates.

Revenue from managed services and cloud services along with revenue from China Telecom services was stable, while VSN revenue continues to increase.

SSI total revenue for the quarter was $800k with telecommunications the key drivers and lawful interception, security and data management services continuing to grow.

Starlink total revenue for the quarter was $2.6 million.

NET established an operation in Chile, commencing supply to a major LATAM Telco with the Starlink 5G internet connectivity.

NET says the customer has embarked on significant proof of concept (POC) testing and Starlink has exceeded their expectations.

Testing is underway in neighbouring Colombia with the customer and another larger Telco via NET’s LATAM partner Telespazio.

NET says there is significant appetite for the Starlink service in Southeast Asia to service the large young population in these countries with many in remote areas.

The company says maritime connectivity in the region is also a large market with major shipping routes and ports servicing extensive shipping fleets.

NET says Thailand is being established as the hub for the region with a NET entity established with an investment in infrastructure and logistics capability to service the region.

The company says its Australian customer base continues to grow with corporate and government clients having concluded their due diligence and testing of the product and now into the acquisition and installation phase.

Furthermore, NET says over the last three months the focus has been on developing and implementing systems to better manage the business.

In December NET finalised a $3 million secured debt facility with all funding received by the end of January 2024.

The company finished the December quarter with $1.711 million, up from $590 in the previous quarter.


iCandy Interactive (ASX:ICI)


  • ICI committed to on-going strategic optimisation of costs to reduce non-essential expenses
  • Corporate wide cost review and right-sizing initiatives being undertaken since early 2023
  • Progress made on Web3.0 project Snaky Cat, in collaboration with Animoca Brands

The mobile games developer and publisher reported a cash receipt of $6.7 million, slightly lower than A$7.7 million recorded in the previous quarter.

ICI attributed the drop to slower cash receipts at its wholly-owned Lemon Sky Studios, arising from lower billing as a result of a slower pace of activities in the lead-up to the year-end holiday season.

Net cash used in operating activities stood at $1,171 million versus a net positive cash from operating activities of $735k in the previous quarter, as ICI increases activities for its operations to improve Web3.0 environment, along with preparing for upcoming launches.

ICI says in collaboration with Animoca Brands, it recently launched Snaky Cat, a multiplayer Web3.0 title where players control a unique feline with a snake-like body that feasts on food to grow even longer.

The game was launched on Base chain, a tech initiative incubated by Coinbase. ICI told the market “management feels that it will be a busy year for 2024 and is preparing to scale up its operations”.

ICI had $6.356 million at the end of the December quarter, down from $7.749 million in the previous quarter.


Thrive Tribe Technologies (ASX:1TT)

  • Investment in Slik paying off with company reaching operating profitability for the first time
  • Updating existing functionality and building out Sixty platform to enhance the user experience
  • Reducing debt burden by repaying $400k of borrowings from an outstanding convertible loan

The wellbeing marketplace says Slik achieved a significant milestone during the quarter by reaching operating profitability for the first time in the company’s history.

Several existing key account relationships were renewed on superior commercial terms reflecting the strength of its client relationships.

Furthermore, 1TT says Slik’s strategic partnership with Mercer Latam yielded positive results with several new client wins during the period.

Among updates to the Sixty platform was building capability that will adapt to each creators needs depending on their industry and areas of expertise giving them unique insights to make informed decisions.

Functionality was also built into platform to enable creators to establish, share, and monetise courses, while a new tool was built to enable users to easily resize their video for Instagram, Facebook, TikTok and YouTube, saving them time and effort.

1TT says the major focus for the December quarter for Daily Food, which is 54% owned by 1TT was preparing for a wider launch of the premium vegan chocolate truffle offering, Holy Truff.

Daily Food expanded its Holy Truff product range into the lucrative ‘seasonal gifting’ category, seizing an opportunity in the premium vegan chocolate segment.

Daily Food also invested in new equipment, training, and processes. during the quarter.  Realising potential of D2C channels the company says strategic investments resulted in a successful campaign wth more than 20,000 subscribers added to the EDM database.

The conversion rate was 200%, with 40,000 website views during the seasonal period with 575 online orders received.

1TT’s cash position as December 31, 2023 was $2,134 million with net cash from operating activities in the quarter of $1,533 million.


The NET, ICI & 1TT share price today:



At Stockhead we tell it like it is. While Netlinkz, iCandy and Thrive Global are Stockhead advertisers, they did not sponsor this article.