ASX Tech Stocks: Scientists make an extra dimension of time and Envirosuite says ESG data in demand
It sounds like the start of a horror movie, but physicists have fired a Fibonacci laser pulse at atoms inside a quantum computer, creating a new phase of matter that behaves as though it is has two dimensions of time.
Apparently, the technique could be used to protect quantum computer data from errors and the whole extra time dimension thing was just a happy accident.
The physicists weren’t even looking for a method to enable better quantum data storage. They were actually trying to create a new phase of matter which matter can exist, beyond the standard solid, liquid, gas and plasma.
To move from one phase to another you have to break physical symmetries — the idea that the laws of physics are the same for an object at any point in time or space.
And creating a new topological phase inside a quantum computer also relies on symmetry breaking, but with this new phase, the symmetry is not being broken across space, but time.
Flatiron Institute’s Center for Computational Quantum Physics researcher and lead author Philipp Dumitrescu said the inclusion of a theoretical “extra” time dimension “is a completely different way of thinking about phases of matter.”
“I’ve been working on these theory ideas for over five years and seeing them come actually to be realized in experiments is exciting.”
Exciting, mind boggling, fascinating and also kind of terrifying – but they haven’t quite sorted out the practical applications just yet.
To make this phase a useful tool for quantum programers it has to be integrated with the computational side of quantum computing so that it can be input with calculations.
“We have this direct, tantalizing application, but we need to find a way to hook it into the calculations,” Dumitrescu said. “That’s an open problem we’re working on.”
The environmental Software-as-a-Service (SaaS) company says its annual recurring revenue (ARR) was up 14.1% for FY22, at $53m, and its software was in use at 416 client sites – up 11.5% YoY.
“I believe that investors continue to understand the growing weight of Environmental, Social and Governance (ESG) considerations, how they shape the world we live in and why that is such a powerful tailwind for this business,” chairman David Johnstone said.
“Envirosuite’s technology gives our customers the ability to empirically measure their performance and then make data-driven decisions regarding their environmental and social responsibilities and future sustainability.
“Our digital products and platforms take the measurement of ESG factors from a ‘point-in-time’ basis to ‘real-time’ data.
“This digitisation journey is a global phenomenon disrupting every sector of the economy and Envirosuite is leading the charge regarding digital environmental intelligence.”
Plus, the company’s Aviation package saw a resurgence in the second half of the year as planes and air traffic picked up again.
Johnstone says the company has a clear pathway towards Adjusted EBITDA profitability during FY23 and a strong cash balance.
Another company benefiting from the recovery of global travel is hotel commerce platform SiteMinder which said ARR increased 25.3% to $129.7m in FY22 – a solid 27% higher than its pre-Covid ARR at 30 June 2019.
The company also acquired GuestJoy during the period, a suite of customer relationship management tools that helps hoteliers automate and digitise their guest communication, drive upsell revenues, and strengthen direct guest acquisition.
CEO and MD Sankar Narayan said it enhances growth opportunities “with additional services to existing customers as well as expanding into new customer segments.”
“Our leading multilingual commerce platform and unrivalled global go-to-market capability, provides us confidence to reiterate our growth guidance and in addition communicate our expectation to become free cash flow neutral by Q4FY24 on a quarterly basis,” he said.
Yet another travel-related platform has had a solid FY22, with Camplify reporting a 93.96% revenue increase YoY to $16.36m.
The company’s platform is a peer-to-peer campervan/caravan sharing community, and despite domestic and global travel restrictions, it still experienced demand for its services, with gross transaction value (GTV) growth of 136% in the UK and 1632% in Spain.
“One of the strongest indications of demand from customers is future booking values. In FY21 Camplify closed out the year with $6.95m in future bookings,” the company said.
“In FY22 Camplify closed out the year with over $14.7m in future bookings.
“This over doubling of future bookings clearly demonstrates from customers their intention to travel in FY23.”
Managed Services and IT solutions player Cirrus Networks says that 12 months after a “distracting and costly failed low-ball hostile takeover attempt”, Webcentral (ASX:WCG) has sold its shareholding in the company in full.
The sale of Webcentral’s holding of 172 million shares was executed via a strongly supported book build and completed on market on August 22.
Participants in the trade included several significant existing shareholders along with the introduction of several new institutional holders.
“This trade highlights the strong interest in Cirrus and affirms our confidence in the strategic direction of the business,” MD Chris McLaughlin said.
TZ Limited (ASX:TZL)
Smart locker company TZ has entered a software licensing deal with digital workplace player Ricoh in Europe, utilising the TZ Cloud offering.
TZ’s platform provides an extensible open interface using industry standard technology, and the company says this transaction demonstrates to customers the ability to work with third-party electronic lock hardware and locker systems, on an ‘at scale’ basis.
The 3-year deal will see TZ receive a software total contract value (TCV) of AUD$950,000.
Data and automation company Kyckr said revenue grew 41% in FY22 to $3.844m, with ARR up 177% to $4.15m.
Kyckr chair Rajarshi Ray says the company’s solutions have come into the spotlight with Western sanctions on Russian oligarchs, banks and other companies.
“Compliance is complex for international businesses dealing with sanctions imposed by the USA, UK, Canada, the EU, Australia and others,” he said.
“With this, an even bigger challenge is emerging – uncovering sanctions-evasion tactics. Targeted entities have increasingly created complex corporate structures, using offshore companies and trusts, proxies, etc., where finding the ultimate beneficial owner (UBO) is difficult.
“This, of course, creates the need for high quality business data such as the information Kyckr provides.”
And it looks like RealWise – who’re associated with Wisetech (ASX:WTC) CEO Richard White – have seen the value in the company, with negotiations underway to purchase 100% of Kyckr at $0.08 per share for an equity value of $43.5m by way of a scheme of arrangement.