ASX Tech Stocks: Spacetalk jumps 12% on earnings results, Prospa gets a bounce from Q4 trading update
Link copied to
The share price of tech communications provider Spacetalk (ASX:SPA) jumped more than 12% to 18 cents in morning trade, after it flagged a set of positive half yearly earnings results.
Annual recurring revenue (ARR) from Spacetalk App’s monthly subscription was up 52% to $3.5 million for 1H FY22, the company said.
Spacetalk’s focus is on communication technologies based on safety and keeping families connected, such as smartphone GPS watches for children.
Total revenue was up 50% to $12.3 million. The company announced revenue growth was aided by early benefits of geographic diversification with Spacetalk wearables now sold in Australia, New Zealand, the UK, Finland, Norway, Denmark, Sweeden, the US and Canada.
Elsewhere, fintech lender Prospa (ASX:PGL) bounced off recent lows beneath $1, after providing a December quarter trading update.
The B2B lender said it booked record quarterly loan originations of $186.6m, up 45% from the December quarter where it booked $128.5m.
Prospa said that will flow through to core earnings of around $9m for the first half-year, up from $4.1m in H1FY21.
At above 90c this morning, PBL shares are still well off their June 2019 listing price where the company raised $109.6m at $3.78.
There was a wobbly fintech IPO, as new entrant BeforePay (ASX:B4P) — a BNPL-adjacent play which provides up-front funding for customers to get paid their salary early — fell by more than 30% in the wake of its 11am listing.
B4P raised $35m from investors at $3.41 per share.
Software company Prophecy International (ASX:PRO) had a good morning on the bourse with its share price up ~9% to $1.36, after announcing it had chalked up $7.33 million of new business in H1 FY22.
Prophecy achieved a significant boost in new customer activity for eMite, its SaaS customer experience and contact (call) centre analytics platform. eMite 1CV sales were up a massive 445% year-on-year (YOY) to $3.6 million.
New contracts for Snare, the company’s cybersecurity product line, were up 41% YOY to $3.73m.
Beam Communications Holdings (ASX:BCC) share price rose ~3.53% to 44 cents in morning trade after it announced it will sell its ZOLEA Global Satellite Communicator at Autobarn’s 130 outlets Australia-wide.
Beam signed an agreement with Autobarn’s parent company Bapcor Limited (ASX:BAP), which is Asia Pacific’s leading provider of vehicle parts, equipment and service to sell the satellite communications device.
Cloud software company Jcurve Solutions (ASX:JCS) has announced $7.68 million in sales for 1H FY22, which it said was a new record and a 25% increase on pre Covid-19 pandemic 1H FY 2020 sales.
Following a record Q1 FY2022 unaudited sales result the company’s momentum is continuing with a Q2 FY2022 unaudited sales of $3.8 million, up 37% on Q2 FY2021, JCS said.
The company said despite continuing impacts of Covid in key markets the company was continuing to grow.