It’s Quarterlies Season! These 5 fintech, BNPL and ecommerce stocks took the early lead today
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ASX companies have to lodge quarterly reports by the last trading day of January, April, July and October.
Typically the majority of ASX companies will release in the last couple of days before the deadline.
But, this hasn’t stopped these stocks from releasing them early and investors have given these five companies the thumbs-up.
At the start of 2020 this company was less than a cent but is now at 14 cents. Ecommerce generally has boomed with physical store closures but Harris had a particularly appropriate niche for COVID times – launching a range of protective hygiene products.
It has since expanded into other products including smart lighting and gaming technology.
This morning Harris reported record sales for the quarter, making $10.4 million in revenue which is 206 per cent higher than the prior corresponding period. The company credited its entry into gaming category for its recent success noting it was becoming “one of the most popular and growing forms of pastime worldwide”.
It also reports maintaining its ranking as the top tech seller on the Amazon Australia marketplace as well as performing well on eBay.
It goes without saying fintech lending is another good space to be in, with record low interest rates and little evidence to suggest they’re going up anywhere soon.
Plenti is one company in this space although it specialises in three particular areas – car loans, personal loans and loans for renewable energy projects.
Planti reported record quarterly loan originations of $172.4 million, 120 per cent above the prior corresponding period, and that its total loan portfolio has now increased to $615 million, 61 per cent above prior corresponding period.
The company rose as much as 19 per cent in early trade this morning.
The online screening and verification company reported $4.2 million in revenue during the quarter and $11.1 million in Annual Recurring Revenue in the past 12 months.
CEO Rod Sherwood said the improving job market was a good thing for his company – noting job advertisements were at levels not seen since November 2008.
The company’s shares have doubled in the past 12 months.
Payright is one of the newer and smaller BNPL companies on the ASX. Its shares have lagged for much of its listed life but rose this morning after its quarterly – which the company claimed was a record.
Its Gross Merchandise Value (GMV) reached $22.2 million and total customers reached 47,500 – 52 per cent higher than 12 months ago.
It also reported 3,100 total merchants, 43 per cent higher in a year, and underlying losses relating to credit defaults remained steady at just 1.64 per cent.
Harmoney is another lending company that began in New Zealand and listed on the ASX to build its presence in the Australia market.
During the quarter it saw loan originations of $9.4 million in March alone, which was 38 per cent up from March 2020 and 148 per cent higher than January 2021.
The company took the chance to remind shareholders it had surpassed the NZ$2 billion milestone it had long eyed off. It has a total loanbook of NZ$485 million of which NZ$123 million is from Australia and is has 50,000 customers on both sides of the Tasman.
At Stockhead, we tell it like it is. While Harris Technology & Plenti are Stockhead advertisers, they did not sponsor this article.