WiseTech led ASX downhill in Feb. Picture via Getty Images
ASX February tech winners: Envirosuite, Spacetalk led; but sector fell hard as fear gripped market
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- February chaos hit, Trump’s tariffs rocked markets
- ASX tech fell hard, WiseTech led the crash
- EP&T and Envirosuite led gainer, Spacetalk cut losses
February, a month that’s historically been no stranger to chaos, wrapped up with a dismal thud. And at the centre of the storm was none other than US President Donald Trump.
In the wake of his recent tariff announcements, the global market reacted with something bordering on panic.
Volatility was sky-high in February and is likely to continue into March. The Fear and Greed Index or VIX, the Wall Street barometer for market sentiment, flashed “extreme fear” to its highest level of the year.
The once-starred stocks which make up the Nasdaq Composite, like Tesla and Nvidia, felt the heat in Feb, with Tesla shedding 24% over the past month alone.
On top of that, the big question for the tech sector is whether the billions flooding into AI data centres and capex are really sustainable – especially with DeepSeek from China showing disruptive potential.
But that’s only part of the picture.
US consumer spending – usually a reliable indicator of economic health – has sharply contracted, too, with January’s decline marking the largest drop since February 2021.
As American spending pulls back, investors are getting increasingly nervous about the trajectory of US economic growth, and rightly so.
“We have cautioned that volatility would likely be higher this year due to policy uncertainty and trade frictions,” said David Lefkowitz at UBS Global Wealth Management.
“Therefore, we have been highlighting that short-term hedges may be worth considering.”
Back home in Australia, the ASX tech sector has mirrored Wall Street’s slide as fears about a sluggish US economy started to drag down market sentiment.
This prompted traders to shift their capital from the tech sector, which was down 12% for the month, into more defensive sectors, such as utilities and staples.
Here’s how the ASX performed in February:
Adding to the pressure were company-specific factors.
Sector heavyweight WiseTech Global (ASX:WTC), for instance, dropped a massive 24% during the month, hitting a one-year low.
The carnage followed the shock resignation of the chairman and three directors. Word on the street is the board’s in turmoil over Richard White, the founder and former CEO.
Last year, WiseTech announced White would step down as CEO and become a full-time consultant while still pocketing his $1 million salary, but that deal’s still up in the air, and new allegations are making things even messier.
Other major tech companies on the ASX also saw their share prices dive in the month – including NextDC (ASX:NXT), Xero (ASX:XRO) and Technology One (ASX:TNE).
ASX tech winners in February
Code Name Price Month % Change Market Cap ASV Asset Vision Co 0.045 105% $31,053,186 EPX EPT Global 0.043 87% $24,935,904 EVS Envirosuite Ltd 0.08 74% $121,017,624 SPA Spacetalk Ltd 0.24 66% $13,393,036 NVU Nanoveu Limited 0.047 57% $27,930,805 ROC Rocketboots 0.097 54% $11,031,122 LNU Linius Tech Limited 0.0015 50% $9,226,824 EXT Excite Technology 0.015 50% $28,926,609 EOL Energy One Limited 10.29 48% $329,260,633 VNL Vinyl Group Ltd 0.13 34% $168,263,512 IKE Ikegps Group Ltd 0.71 34% $120,562,303 RCL Readcloud 0.105 33% $16,361,863 DSE Dropsuite Ltd 5.79 32% $409,612,261 MP1 Megaport Limited 11.12 30% $1,808,279,164 W2V Way2Vatltd 0.009 29% $8,393,990 UBN Urbanise.Com Ltd 0.56 27% $32,899,592 OPL Opyl Limited 0.019 27% $4,052,335 BCC Beam Communications 0.082 26% $7,000,176 1TT Thrive Tribe Tech 0.0025 25% $4,063,446 HCL Highcom Ltd 0.195 22% $17,456,054 ASB Austal Limited 4.25 22% $1,522,165,436 EML EML Payments Ltd 0.97 19% $369,744,082 CPU Computershare Ltd 41.07 19% $24,149,656,626 BVS Bravura Solution Ltd 2.54 18% $1,152,269,785 VGL Vista Group Int Ltd 3.4 18% $694,014,510 DRO Droneshield Limited 0.77 18% $723,855,582 CF1 Complii Fintech Ltd 0.029 16% $15,427,628 AD8 Audinate Group Ltd 8.46 15% $778,559,928 FND Findi Limited 5.08 15% $260,310,447 JAN Janison Edu Group 0.195 15% $51,977,650 ELS Elsight Ltd 0.355 15% $66,985,248 GTI Gratifii 0.12 14% $36,665,705 DTL Data#3 Limited 7.73 13% $1,222,226,747 IXU Ixup Limited 0.01 11% $20,319,859 TZL TZ Limited 0.061 11% $16,447,408 TYR Tyro Payments 0.88 10% $485,783,025 SMP Smartpay Holdings 0.515 10% $130,649,471 ACE Acusensus Limited 1.15 10% $169,288,731 EIQ Echoiq Ltd 0.27 8% $167,728,497 QOR Qoria Limited 0.48 8% $631,268,859 CXZ Connexion Mobility 0.029 7% $24,780,489 OAK Oakridge 0.064 7% $1,727,866 AR9 Archtis Limited 0.075 4% $22,461,438 YOJ Yojee Limited 0.14 4% $43,785,539 DTZ Dotz Nano Ltd 0.085 1% $47,005,161
Energy efficiency tech company EP&T Global reported its H1 FY25 results, showing solid progress.
For the six months ending December 31, EP&T’s annual contract value (ACV) jumped 16% to $16.9 million, while its annual recurring revenue (ARR) rose 15% to $14.0 million.
The total revenue for the half-year shot up 16% to $7.5 million, and recurring revenue, which now makes up over 90% of total revenue, surged 25% to $7.4 million.
EP&T also slashed its underlying EBITDA loss by a massive 96%, bringing it closer to breakeven.
The focus is now on continuing to improve EBITDA and keep that momentum rolling, the company said.
During the half, environmental tech company Envirosuite showed solid growth.
With ARR hitting $65.7m, up 9.5% from last year, it’s clear the company’s picking up momentum.
The business is seeing real improvement, posting a positive EBITDA of $0.2m, up a massive 225.9% on the same period last year.
The aviation side of things is especially flying high, with ARR in that sector climbing to $39.0m, driven by validation of its carbon optimisation solution for air traffic management with NAV Canada.
Despite the strong performance, Envirosuite’s not resting on its laurels. The company has got its eye on long-term growth, with a goal to double ARR every five years.
To top things off, Envirosuite’s been in talks with Ideagen, which put forward an unsolicited proposal on February 25 to buy the company at $0.10 per share, a 133% premium on the the share price at the time.
Spacetalk, a company focused on family safety solutions through wearable tech, has posted a solid 1H25 result.
With a 16% jump in ARR to $11.0 million and a 54% boost in paid mobile subscribers to 40,000, Spacetalk is showing real growth.
The company saw its total revenue from continuing operations rise 12%, reaching $10.3 million, while gross profit climbed 24% to $5.2 million.
Operating expenses dropped by 23%, and as a result, Spacetalk’s EBITDA loss improved by 96%, dropping from $2.7 million to just $0.1 million.
The company’s got big plans, too, with new product developments underway, including next-gen wearables for kids and seniors.
This could drive even more subscriptions, Spacetalk said, helping it aim for $20-$25 million in ARR by 2026.
Nanoveu, a company that focuses on advanced tech, including its EyeFly3D platform, is also diving deep into the semiconductor space.
It just wrapped up the acquisition of EMASS, a specialist in System-on-Chip (SoC) designs.
This move positions Nanoveu to tap into the growing global demand for ultra-low-power edge computing and AI applications, especially in sectors like wearables, autonomous vehicles, drones, and IoT devices.
With this acquisition, Nanoveu plans to enhance its EyeFly3D product by integrating EMASS’s ultra-low-power SoC, making mobile 2D to 3D conversions faster and more efficient without needing cloud processing.
Vinyl, Australia’s only ASX-listed music company, has wrapped up the acquisition of Concrete Playground, a top digital city guide that covers major Aussie and Kiwi cities.
The deal, valued at $5.56 million, includes $4.06 million in cash and $1.5 million in Vinyl shares, leaving around $782k cash in Concrete Playground’s business after adjustments.
This acquisition will boost Vinyl’s media and advertising power, potentially unlocking fresh commercial opportunities through its Vinyl Media division.
Concrete Playground has generated over $4.1 million in revenue recently and is expected to bring in $1.5 million in EBITDA in CY25.
This deal will accelerate Vinyl’s timeline to being cash flow positive by end of 2025, the company said.
ASX tech losers in January
Code Name Price Month % Change Market Cap FBR FBR Ltd 0.019 -53% $106,257,034 BRN Brainchip Ltd 0.21 -46% $507,910,504 NVQ Noviqtech Limited 0.056 -44% $15,846,803 VR1 Vection Technologies 0.023 -43% $36,537,363 AI1 Adisyn Ltd 0.07 -42% $59,953,024 IFG Infocus Group 0.015 -40% $2,920,253 XF1 Xref Limited 0.13 -40% $24,958,732 SLX Silex Systems 4.11 -37% $959,430,407 BDT Birddog 0.036 -36% $5,813,497 ODA Orcoda Limited 0.08 -33% $13,823,223 8CO 8Common Limited 0.023 -32% $5,826,467 NXL Nuix Limited 3.68 -32% $1,243,557,325 AXE Archer Materials 0.295 -31% $79,002,574 AJX Alexium International 0.0085 -29% $12,612,091 XPN Xpon Technologies 0.0085 -29% $3,080,753 DCC Digitalx Limited 0.045 -27% $57,727,252 MX1 Micro-X Limited 0.064 -27% $42,120,897 DXN DXN Limited 0.04 -27% $11,812,353 NVX Novonix Limited 0.42 -27% $292,283,060 XYZ Block Inc 103.09 -26% $5,238,570,642 WTC Wisetech Global Ltd 89.5 -26% $31,436,797,704 BEO Beonic Ltd 0.19 -24% $13,463,592 ZMM Zimi Ltd 0.01 -23% $3,869,441 TAL Talius Group Limited 0.007 -22% $20,072,405 ID8 Identitii Limited 0.011 -21% $8,516,349 RWL Rubicon Water 0.285 -21% $62,580,725 DUG DUG Tech 1.18 -21% $164,282,273 3DP Pointerra Limited 0.076 -20% $63,601,067 CYB Aucyber Limited 0.1 -20% $17,174,153 PIL Peppermint Inv Ltd 0.004 -20% $8,724,357 SNS Sensen Networks Ltd 0.0325 -19% $26,170,237 WBT Weebit Nano Ltd 2.11 -19% $458,063,962 RKT Rocketdna Ltd. 0.01 -17% $10,986,279 PPS Praemium Limited 0.715 -16% $339,177,774 NXT Nextdc Limited 13.34 -16% $8,716,062,985 IRE IRESS Limited 7.97 -15% $1,541,013,161 PRO Prophecy Internation 0.455 -15% $35,380,288 DUB Dubber Corp Ltd 0.04 -15% $99,587,321 SEN Senetas Corporation 0.023 -15% $41,387,977 CML Connected Minerals 0.175 -15% $7,444,478 WHK Whitehawk Limited 0.009 -14% $7,143,356 X2M X2M Connect Limited 0.018 -14% $7,566,825 CCR Credit Clear 0.275 -14% $116,604,314 CGO CPT Global Limited 0.056 -14% $2,430,047 FL1 First Lithium Ltd 0.07 -14% $5,336,791 ATA Atturra 0.9 -13% $344,563,895 RKN Reckon Limited 0.505 -13% $57,213,890 BLG Bluglass Limited 0.021 -13% $34,967,074 ATV Active Port Group 0.014 -13% $8,904,702 HYD Hydrix Limited 0.021 -13% $5,455,377
This story does not constitute financial product advice. You should consider obtaining independent advice before making any financial decision.
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