• ATV has had a strong start to Q2 with $1.03 million revenue in October
  • Altium targets FY22 revenue of $209 million – $217 million
  • EROAD’s Coretex acquisition approved by NZ Commerce Commission

 

ActivePort Group (ASX:ATV)

The software licensing company’s shares were up 5.17% in morning trade today.

The company IPO’d in October, and reported total revenue of $2.49 million in Q1 FY22 – which was up 49% on the previous corresponding period.

And management said it’s off to a strong start in Q2, with monthly revenue of $1.03 million for October.

ATV said it has signed nine new SD-WAN partners signed in October, up from five the previous quarter, as well as deploying orchestration software to telecommunication companies in 14 countries.

“We’ve focussed on selling ActivePort to channel partners who on- sell it to their customers, and the success of that strategy is beginning to show,” CEO Karim Nejaim said.

“Our partners are telecommunication companies, managed service providers (MSPs) and internet service providers (ISPs) that sell ActivePort software to their customers.”

“As our partners rollout ActivePort, we expect our software revenue growth to accelerate.”

 

Altium (ASX:ALU)

Up 3.5% today was software engineering player Altium.

At the company’s AGM, chairman Samuel Weiss detailed its FY22 plans to achieve 16-20% growth in revenue to $209 million – $217 million, an underlying EBITDA margin of 34-36% and ARR growth of 23-27%.

Weiss said the company’s CAD software and Cloud platform will power this performance, and have begun to build “considerable momentum”.

He said the company expects to drive organic growth through:

  • Strong Altium 365 adoption to improve the subscription renewal rate;
  • The roll-out of a Digital Sales Platform which will take transactional sales capabilities to global markets;
  • The scaling of high-end Enterprise Sales through strategic partnerships which will expand TAM within the PCB market and drive further revenue;
  • Expansion of the Octopart TAM with the addition of ECAD and PLM APIs from Nexar – which is already providing significant revenue growth;
  • License compliance growth in China and, in time, recurring revenue through Altium 365 China; and
  • Demand for smart manufacturing which will, in time, scale in revenue with high gross profit margin.

 

Tinybeans (ASX:TNY)

Family friendly platform Tinybeans announced it had received commitments for an $8m placement today at 60 cents per share.

Shares were up 3.9% in morning trade.

The funds are expected to assist in additional product development, marketing, general working capital purposes, and acceleration of Beanstalk, the company’s new subscription product.

As part of the cap raise, CEO Eddie Geller plans to convert his director loan of US$300,000 (plus interest accrued up to the completion date of tranche 1 of the placement) to shares at the same issue price paid by investors under the placement – which will be approved at the upcoming AGM.

“The proceeds will bolster the strength of our balance sheet as we seek to fund key product growth initiatives,” Geller said.

The company will also launch a share purchase plan to eligible investors at the same issue price, to raise up to $500,000.

EROAD (ASX:ERD)

The NZ Commerce Commission has granted clearance for the company’s Coretex acquisition today – after the company announced a condititional agreement back in July.

The company’s share price was up 1.01% today.

Coretex is a telematics vertical specialist provider delivering enterprise grade solutions, and EROAD says the acquisition is expected to accelerate its key growth metrics by two years enabling it to capture the significant growth opportunity in North America and Australia.

It ‘s also expected to accelerate growth by adding new strategic verticals and broadens EROAD’s product and customer base.

The acquisition, which has also received shareholder approval and Overseas Investment Office Consent, is now due to complete on 1 December 2021.

 

IXUP (ASX:IXU)

IXUP announced it has signed a two-year data collaboration agreement with Acxiom to create innovative geo-demographic data insights platform.

The company says the combination of these two unique elements presents strong potential for innovative, previously inaccessible, insights to be realised from combining IXUP clients’ internal data sets with Acxiom’s geo-demographic data.

“The business model is unique as the proposed pricing will be on a per-transaction basis rather than a client having to acquire the whole Acxiom data set,” IXUP CEO Marcus Gracey said.

“IXUP is effectively creating a world first secure data marketplace that enables smaller data sharing and enrichment opportunities for IXUP clients, with costs and access on a self-service or transactional model.”

“Our initial demonstrations of this product to potential clients has returned significant commercial interest, which we will now look to convert into sales revenue in coming quarters.”

The company’s share price was unchanged in morning trade.

 

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