Reporting Season Round Up: The betting stocks all reported this morning but only Bluebet shone
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The majority of the ASX’s betting stocks reported their quarterly results today but only one saw a hefty gain.
Bluebet is a relative newcomer to the ASX, having only joined the bourse in July.
The company reported record turnover of $125.9 million for the quarter (up 67.4% up from 12 months ago) via 39,195 active customers, and its shares rose by ~10% in morning trade.
While BBT has had mixed success with its licensing applications for US state betting jurisdictions in recent months, the company said it remains on track to take first bets in Iowa by March 2022, where its application with Q Casino was approved by local authorities.
Bluebet booked net cash operating inflows of $3.34m in the quarter, on cash receipts (customer deposits) of ~$32m.
BBT said it’s hoping to be operational in 3-5 US states over the next calendar year.
While this workplace tech company is well off the highs seen in 2018, it got a slight bump from its results.
It’s Annualised Recurring Revenue hit $64.5 million and its cash receipts were $14.6 million, with the latter being an equal record quarter for the company.
LiveTiles also delivered several key projects including being deployed into a large Australian hospitality business (with over 160 venues) as well as into a Catholic Schools network with 10,000 users.
The insect targeter got a boost for the second time this week. On Monday it signed a commercial agreement with Evergreen Garden Care and today it unveiled its quarterly.
Although the company had a net outflow of $784,000 from its operating activities, it reported progress in a number of areas.
Most notably it obtained key IP protection in the US, extending to 2038, as well as positive results from Phase 2 mosquito studies.
BNPL stocks other than Afterpay – they do exist.
New Zealand based Laybuy is one such company and it told shareholders it was on track to hit Gross Merchandise Value of NZ$1 billion in this financial year.
It made NZ$206 million this quarter, which is NZ$825 million on an annualised basis and up 62% in 12 months.
The company is also expanding into the UK in which it hit NZ$446 million GMV and globally it hit 889,000 customers.
The medicinal cannabis company is one of the few that is targeting animals.
It finished the quarter with $12.5 million in cash, after reporting $1.16 million in operating outflows.
Earlier this year it acquired Cannpal (ASX:CP1) and has continued its program. In recent months it engaged Knoell Animal Health to advance CannPal’s CPAT-01 drug into Phase II.
It also commenced the process for its first Australian product registration, applying with the Australian Pesticides and Veterinary Medicines Authority for its DermaCann treatment.