ASX Tech Stocks: Linius edges higher with new exec appointments while UBI nabs a US distribution deal
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Cloud based hyper-personalised video company Linius was up 4.3% today after appointing a new CEO in James Brennan and CTO in Clive Malcher.
Linius says the appointments will guide the acceleration of revenue derived from its existing suit of products across education, sports and business.
Brennan is a market strategist and joins the company as it pursues commercialisation opportunities across multiple sectors for its unique video virtualisation engine technology, LNU said.
Malcher is an acclaimed technologist with video expertise who will oversee the company’s technology requirements as it enters this commercialisation phase.
The company’s share price was up 0.7% after announcing it had signed another distribution deal in the USA for its wine testing platform device, Sentia.
UBI agreed a non-exclusive distribution agreement with Vinmetrica for a three year term, which includes an initial commitment to purchase volumes for Sentia devices and strips which will be delivered this month.
The company also announced it had achived $1 million of sales of Sentia product since launch in March which CEO John Sharman said was an excellent achievement during COVID.
“With the signing of Vinmetrica, UBI has 11 distributors around the world with access to more than 25,000 wineries,” he said.
“Our Malic Acid, Glucose and Fructose tests are on track to be launched before the end of 2021 and we are well positioned to deliver sales growth during 2022.”
Unchanged was Keypath Education, which reported a 40.8% lift in year-on-year revenue to US$30.4 million, with strong student retention and the launch of new programs.
Revenue per course enrolment increased by 10.7% year-over-year driven by nursing and health verticals.
“We continue to expand into Southeast Asia, add partnerships with universities and programs within healthcare and STEM disciplines and we have already closed eight programs from our FY23 vintage,” Founder and CEO Steve Fireng said.
“Keypath is well positioned across the globe to expand its technology and services to continue to help universities provide quality access to education in a digital environment.”
Dropping 3.1% today was cold cathode x-ray tech company Micro-X.
During the September quarter the company saw increased expenditure associated with the procurement of long lead time inventory items to support expected sales targets in 2022 – along with increased staffing costs to fulfil development milestones.
MX1 executed three contracts for up to $13 million of development funding from the US Department of Homeland Security, and the Australian Stroke Alliance for the Airport Checkpoint and Brain CT programs.
The company will be paid for all development work under the contract as milestones are achieved whilst retaining all intellectual property in the end products – which it can then launch exclusively.
MX1 says its four product lines – Mobile DR, X-Ray Cameras, Checkpoints and CT – are now on track to full commercialisation, fully supported by a business unit with a fifth unit designing and manufacturing the carbon nanotube x-ray tube and high voltage technology common to each product.
The security and AI surveillance player was down 10% today following its September quarterly update.
SP3 said it achieved its best Q1 performance on record, with revenue of more than $1.44 million – up 37% year-on-year.
The company generated $597,000 of revenue in September, an increase of 61% compared to September 2020.
Spectur’s core producs are solar powered warning, deterrence and surveillance systems with a hardward IoT platform remotely accessed and connected via 3G/4G technology to a cloud-based platform.
The company said that the second and fourth quarters of each financial year are generally the strongest seasonal periods.
Its record revenue despite Q1 FY22 lockdowns in NSW and Victoria demonstrates the ongoing fundamental growth in the company’s operations, SP3 added.
Spectur expects demand to increase in Q2 as summer holidays loom, and is planning to deploy its new safety and warning platforms to beaches in NSW and soon in WA – further expanding the longer term opportunities in the safety and warning applications space, the company said.