Quarterlies: Here are the ones causing the biggest lift-offs and sell-offs today
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With tomorrow being the deadline for ASX companies to lodge their quarterly reports the market is flooded with them today.
Typically much of the news in quarterly reports is a wrap of everything that has happened in the quarter. But cash flow statements are always looked at by investors because they show just how much money a company has spent and has left.
In today’s bunch there were a handful that stood out but not all of them sent investors rushing to buy.
One early mover was neurological-focused software-as-a-service (SaaS) play Total Brain (ASX:TTB). The company has a platform to help people scientifically measure and optimise their brain capacity while managing the risk of common mental conditions.
The software’s target towards populations under stress and increased risk of mental health problems during COVID-19 has certainly helped Total Brain’s cash receipts.
These are up 120 per cent quarter on quarter. However, much of the gain came from one particular contract which closed last year but was only paid this quarter.
Total Brain saw user registrations climb by 5 per cent quarter on quarter and 17 per cent year on year. The company said it expects more growth this quarter.
Shares gained over 15 per cent this morning.
Another mover was workplace software maker LiveTiles (ASX:LVT). It too saw total customer cash receipts more than double compared to the prior corresponding period.
The company’s annualised recurring revenue (ARR) reached $55.2m which is nearly five times more than two years ago.
LiveTiles now has over 1,000 subscription customers and says it has seen increased customer interest given the current pandemic.
Meal kit delivery service Marley Spoon (ASX:MMM) was one company that fell after releasing its quarterly.
This is despite some positive news, including that it expects to become earnings positive this quarter and revenues have climbed 46 per cent as a direct result of COVID-19.
Even with the decline though the stock is still over four times higher than six weeks ago, when it was just 23c.
The GO2 People (ASX:GO2), meanwhile, revealed it is now earnings positive. Since its late 2017 IPO, the employment agency’s share price has tumbled over 90 per cent.
But this morning it climbed as high as 40 per cent after saying the results of a restructure last year were paying off. One of its new offerings is online courses and these are beginning to deliver revenue to the company.