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ASX Tech Stocks: PlaySide Studios set to develop mixed reality game for Meta
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- PlaySide nabs mixed reality game development agreement with Meta
- K2Fly’s software will be used across Mineral Resources’s iron ore and lithium operations
- Technology One reports record profit, record revenue and record SaaS fees for the 13th consecutive year
Video game developer PlaySide Studios (ASX:PLY) has signed a game development agreement with Meta to create a mixed reality interactive software product to be playable on its Quest suite of virtual reality devices.
“This deal marks the next evolution of our work in the studio, as we leverage our abilities to conceptualise and develop exciting games in a revenue-share arrangement with a leading global technology company,” CEO Gerry Sakkas said.
“Meta is bringing virtual reality and mixed reality into the mainstream with its Quest suite of products, and we are excited about the opportunity to demonstrate our domain expertise with this game.”
PlaySide will receive payments for development of the game at agreed milestones, along with a share of net revenues from the game in perpetuity.
Meta’s revenue has been falling for a couple of quarters now – wiping out about US$90bn from its market cap in the September quarter – so it’ll be interesting to see if the revenues from this game will make an impact.
Work on the title is expected to commence in the current financial year.
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ESG platform K2Fly has been engaged by Mineral Resources (ASX:MIN) for its Mineral Resource Governance and Technical Assurance Solutions across its iron ore and lithium operations.
“We are excited to have MinRes as our third Mining Technical Assurance suite client,” CEO Nic Pollock says.
“This is a significant step as we build out our Mineral Resource Governance and Mine Technical Assurance suite.
“We are looking forward to working closely with MinRes to deliver strong block model management and resource governance as well as repeatable improved recoveries of their iron ore and lithium deposits.”
The three-year contract with a Total Contract Value (TCV) of $1.75m and Annual Recurring Revenue (ARR) of $475k.
For the 13th consecutive year, the Software-as-a-Service (SaaS) company has reported record profit after tax of $88.8m (up 22%), record Annual Recurring Revenue (ARR) of $274.2m (up 43%), and record SaaS fees of $358.7m (up 22%).
“No other Enterprise Resource Planning (ERP) company in the world has successfully made the transition to SaaS without impacting its customers and/or its profit growth,” CEO Ed Chung said.
“With our SaaS business growing faster than expected, TechnologyOne is on track to surpass our target of $500m+ ARR by FY26.”
The audio tech company has raised $2.8m via placement to audiology industry professional Mr David Lin, CEO of Clinico Inc, at $0.10 per share.
The placement price represents a 23% premium to market closing price Friday November 17.
“I believe we can leverage our position to help Audeara to explore the Asian market,” Lin said.
This quantum player has used – for the first time – some of the most powerful supercomputers in the world to obtain the most realistic and efficient simulations of the 12CQ qubit material.
The complex atom-structure of the 12CQ qubit material requires the enormous power of supercomputers for predictive modelling and realistic simulations of the qubit material properties.
And the company says the results can be used to support the design and development of complex quantum electronic devices required for the future operation of the 12CQ chip.
Video tech player Linius has received firm commitments from professional and sophisticated investors to raise $631,500 via a placement – with the funds set to “generate new pipeline and drive opportunities to near- term recurring revenue”.
The company says this capital injection, coupled with recent cost reductions, comfortably delivers time for management to deploy services and generate Monthly Recurring Revenue for recently acquired customers A-League and Cricket Australia, close further near-term pipeline, generate significant new recurring revenues, and place the company in a position to “rapidly improve its cash position”.
