Quarterlies: Record customer receipts drive share price rises for Dragontail Systems, 8common
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Quarterly reporting season has put smiles on the faces of investors in Dragontail Systems (ASX:DTS) and 8common (ASX:8CO), with increased customer receipts leading to improved share prices.
Dragontail, which offers fast food restaurants with technology to streamline ordering and delivery processes, has seen a 15 per cent rise in its shares this morning to 26.5c, while fintech company 8common is up 12 per cent to 5.8c.
Fellow small cap tech company intelliHR (ASX:IHR) is also up 23 per cent, having reported global annual recurring revenue in excess of $1 million thanks to increased sales in New Zealand.
Dragontail’s official quarterly document is yet to be released but it told shareholders this morning that customer receipts for the March quarter are 250 per cent higher than the December quarter.
“We are excited to see the cash receipts of the company growing as a direct reflection of the accelerated growth in installations,” CEO Ido Levanon said.
8common saw cash receipts of $1.1 million for the March quarter, up 87 per cent year-on-year, and says it will only get better from here with two new Australian government contracts to add a further $642,000 in revenue.
The company is also cash flow positive at the end of March, which it says it expects to maintain. It has $374,000 in the bank and expects to spend $956,000 in the June quarter.
Tilt Renewables (ASX:TLT) reports quarterly and full-year production results. The wind farm owner reported energy production of 2,054 GWh from its eight wind farms for the 12 months to the end of March, up 14 per cent on the previous year. However, it only beat full-year production forecasts by 1 per cent, thanks to “very soft wind conditions” in the March quarter.
It said it expects earnings before interest, tax, depreciation, amoritisation and fair value movements of financial instruments to be up to $138 million.
Venturex Resources (ASX:VRX) closes quarter with capital raise. Venturex raised $3.7 million as it continues to “make further strong progress” on its goal of developing its fully-owned Sulphur Springs Copper-Zinc Project in Western Australia. The company completed its definitive feasibility study in October last year and is now looking for senior staff to assist in construct of the project.