Investors continue to look favourably at ESG tech play Envirosuite which has seen its share price rally 5% in the past five days amidst a brutal heavy sell-off.
In the broad global sell-off of equity markets, tech stocks have been hit hard. The tech heavy Nasdaq has fallen heavily, while ASX tech stocks have been also feeling the pain.
The Nasdaq composite is down ~13.36% in the past year, while the S&P/ASX 200 info tech sector is down ~21% for the same period.
But there is one tech stock defying the odds. Environmental technology company Envirosuite (ASX:EVS) has seen its share price rally ~40% in the past year to 15 cents.
And while there have been days it has been down during the recent selloff, Envirosuite has kept its head above water. In the past five days amidst heavy selling its shares have climbed 5%.
A tech company advancing ESG
Envirosuite prides itself on its ability to help companies to deliver against ESG (environmental, social and governance) credentials as an ASX tech company. It is heavily focused on the E in ESG, and helps companies to make decisions that reduce risks to people, planet and performance.
Envirosuite has become a global leader in environmental intelligence, using proprietary tech and real-time localised data to help industries grow, communities thrive and advancing the world towards a better place through improved environmental performance.
The company has established traction in three verticals, delivering flexible solutions to address challenges with air, water quality, noise and vibration.
Aviation is Envirosuite’s largest business, and it is a market leader for noise monitoring tools in the industry. The company provides services at 167 client sites globally, including most of the major global airports including Heathrow, Los Angeles, and Sydney.
The EVS Omnis platform is a cloud-based environmental management software designed for users to manage environmental risk, ensure social licence to operate, and unlock growth through world class scientific models and data intelligence.
EVS Water is the company’s startup with its two key products Sewex and Optimiser. The company has gained early traction with EVS Water as business demand for efficient water and digital twin solutions becomes more critical to improve water quality and reduce emissions that directly impact climate change.
Strong Q3 trading update
Envirosuite recently reported a strong Q3 FY22 trading update which showed growth in annual recurring revenues (ARR) across each of the company’s three core verticals.
Following more contract wins in the Q3 quarter, the company is now generating ARR of $50m on a constant currency basis, highlighted by continued growth out of its established and growing US market where it generated 40% of new ARR contracts.
This article was developed in collaboration with Envirosuite, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
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