Here it is — your fortnightly tech stocks wrap.

Industry focus

2 years ago, when SoftBank CEO Masayoshi Son last spoke at the Saudi Arabia Future Investment Initiative, Softbank’s newest fund raised nearly $100 billion.

After skipping 2018’s summit (following the murder of Jamal Khashoggi) Masayoshi returned and spoke in front of…no one.

WeWork was going to IPO before investors realised just how overvalued it was. Now, the IPO is off the table, several executives have left, and the business is struggling to stay afloat. Uber did list but has lost 25 per cent of its value — and we have no idea when, or if, it will be profitable.

US tech commentator Scott Galloway said this earlier in October:

” …We are seeing the mother of all shifts from a focus on growth to margin.”

“Inspired by [Amazon]…firms saw a shortcut: paint a compelling vision and offer $10 worth of service for $5,” he said.

But Amazon had eventually had positive margins and reached profitability. WeWork raised more money from one fund ($11 billion) than the total sum of venture capital in 1996.

Galloway said SoftBank would “sober up, acknowledge the laws of physics and confirm some sort of pre-pack restructuring/bankruptcy [for WeWork] before Thanksgiving”.

As for Uber, he said it had some time to avoid a similar fate but would have to move to margins by raising prices and exiting unprofitable markets.

Read More:

The Secret Broker: When WeWork becomes Don’t Work

Back down under…

For months, analysts have been warning us the rise of tech was a bubble that will bust. Should they be boasting “we told you so” yet?

Industry wide it’s still too early but investors have begun to worry about a handful of stocks, while continuing to invest in others.

Here’s how ASX small cap tech stocks have performed in the past fortnight and year: 

Swipe or scroll to reveal the full table. Click headings to sort

Code Name Price 2 Week Return 1 Year Return Market Cap
RD1 REGISTRY DIRECT LTD 0.016 60 -44 $ 2,757,973.25
CT1 CCP TECHNOLOGIES LTD 0.014 32 8 $ 9,565,283.00
NVX NOVONIX LTD 0.615 31 14 $ 78,804,672.00
CL1 CLASS LTD 1.925 31 11 $ 230,617,632.00
CSV CSG LTD 0.305 30 61 $ 137,023,392.00
UBN URBANISE.COM LTD 0.051 29 54 $ 37,286,876.00
JAN JANISON EDUCATION GROUP LTD 0.39 29 4 $ 73,509,984.00
CAG CAPE RANGE LTD 0.94 25 -53 $ 78,638,800.00
QFY QUANTIFY TECHNOLOGY HOLDINGS 0.005 25 -62 $ 7,460,192.00
CV1 CV CHECK LTD 0.165 23 158 $ 46,751,628.00
PPS PRAEMIUM LTD 0.645 23 -17 $ 261,116,176.00
EOL ENERGY ONE LTD 2.52 22 166 $ 56,732,992.00
PIL PEPPERMINT INNOVATION LTD 0.011 22 -42 $ 10,863,407.00
DSE DROPSUITE LTD 0.044 22 -55 $ 21,721,944.00
WSP WHISPIR LTD 1.86 22 17 $ 194,451,552.00
SVT SERVTECH GLOBAL HOLDINGS LTD 0.018 20 80 $ 11,829,090.00
DCC DIGITALX LTD 0.032 20 -52 $ 17,886,504.00
SM8 SMART MARINE SYSTEMS LTD 0.03 20 21 $ 9,235,690.00
VLT VAULT INTELLIGENCE LTD 0.34 20 52 $ 42,879,004.00
CXZ CONNEXION TELEMATICS LTD 0.026 18 225 $ 22,104,292.00
PRO PROPHECY INTERNATIONAL HLDGS 0.52 18 58 $ 33,285,088.00
RZI RAIZ INVEST LTD 0.99 14 56 $ 66,229,988.00
SKF SKYFII LTD 0.16 14 -11 $ 50,970,084.00
COO CORUM GROUP LTD 0.04 14 3 $ 10,246,704.00
TV2 TV2U INTERNATIONAL LTD 0.008 13 80 $ 23,663,142.00
SCL SCHROLE GROUP LTD 0.018 13 13 $ 15,977,164.00
SPT SPLITIT PAYMENTS LTD 0.95 12 390 $ 301,382,496.00
SF1 STEMIFY LTD 0.029 12 -96 $ 4,407,200.50
CCA CHANGE FINANCIAL LTD 0.25 11 240 $ 25,117,064.00
SMX SECURITY MATTERS LTD 0.3 11 -40 $ 33,522,550.00
AMO AMBERTECH LTD 0.11 10 -41 $ 3,363,050.00
FTC FINTECH CHAIN LTD 0.17 10 221 $ 110,630,832.00
ID8 IDENTITII LTD 0.355 9 -54 $ 19,354,174.00
PYG PAYGROUP LTD 0.83 9 30 $ 42,887,316.00
CWL CHANT WEST HOLDINGS LTD 0.074 9 19 $ 9,170,361.00
SPZ SMART PARKING LTD 0.215 7 26 $ 79,027,376.00
CCG COMMSCHOICE GROUP LTD 0.074 7 -8 $ 14,087,773.00
TBL TAMBLA LTD 0.45 7 -25 $ 8,919,288.00
KNO KNOSYS LTD 0.11 6 16 $ 14,323,558.00
CAT CATAPULT GROUP INTERNATIONAL 1.43 5 31 $ 262,480,784.00
SRH SAFEROADS HOLDINGS LTD 0.2 5 -35 $ 7,280,000.00
PVS PIVOTAL SYSTEMS CORP INC-CDI 1.45 5 -42 $ 161,659,840.00
SZL SEZZLE INC-CDI 2.63 5 121 $ 538,528,640.00
SP3 SPECTUR LTD 0.105 5 -49 $ 7,206,472.00
MOB MOBILICOM LTD/AUSTRALIA 0.105 5 22 $ 27,083,356.00
SMN STRUCTURAL MONITORING-CDI 0.9825 5 -6 $ 119,174,560.00
MOQ MOQ LTD 0.23 5 0 $ 40,816,636.00
BTH BIGTINCAN HOLDINGS LTD 0.59 4 81 $ 182,015,536.00
TZL TZ LTD 0.12 4 -34 $ 8,819,770.00
ISD ISENTIA GROUP LTD 0.38 4 55 $ 76,000,000.00
DWS DWS LTD 1.07 4 0 $ 143,696,144.00
RUL RPMGLOBAL HOLDINGS LTD 0.83 4 30 $ 177,899,984.00
EPD EMPIRED LTD 0.29 4 -40 $ 46,377,984.00
RDF REDFLEX HOLDINGS LTD 0.48 3 12 $ 72,500,456.00
CGO CPT GLOBAL LIMITED 0.175 3 18 $ 6,619,316.50
RKN RECKON LTD 0.76 3 9 $ 86,104,072.00
OMN ONEMARKET LTD 0.965 3 17 $ 99,771,968.00
IOD IODM LTD 0.2 3 1233 $ 105,984,144.00
CNW CIRRUS NETWORKS HOLDINGS LTD 0.04 3 150 $ 35,335,364.00
DTL DATA#3 LTD 3.485 2 143 $ 537,372,544.00
BCC BEAM COMMUNICATIONS HOLDINGS 0.19 2 36 $ 11,896,527.00
OCL OBJECTIVE CORPORATION LTD 4.52 2 73 $ 420,259,968.00
ELO ELMO SOFTWARE LTD 6.62 2 4 $ 496,790,720.00
WBT WEEBIT NANO LTD 0.395 1 -47 $ 28,414,220.00
RHP RHIPE LTD 2.76 1 136 $ 389,520,640.00
DN8 DREAMSCAPE NETWORKS LTD 0.2675 1 106 $ 104,232,264.00
GBT GBST HOLDINGS LTD 3.85 0 117 $ 268,106,528.00
WZR WISR LTD 0.13 0 155 $ 107,449,664.00
JCS JCURVE SOLUTIONS LTD 0.03 0 -30 $ 9,835,707.00
BID BIDENERGY LTD 0.565 0 -14 $ 71,266,152.00
AO1 ASSETOWL LTD 0.008 0 -45 $ 2,409,766.50
KTE K2 ENERGY LTD 0.005 0 -44 $ 1,503,285.75
HYD HYDRIX LTD 0.032 0 -20 $ 21,418,510.00
NOR NORWOOD SYSTEMS LTD 0.003 0 -25 $ 6,490,581.00
SRO SHAREROOT LTD 0.002 0 -50 $ 5,918,131.00
FGO FLAMINGO AI LTD 0.002 0 -91 $ 2,240,255.50
QTG Q TECHNOLOGY GROUP LTD 0.004 0 -80 $ 600,824.63
CWZ CASHWERKZ LTD 0.2 0 -9 $ 31,976,344.00
IAM INTIGER GROUP LTD 0.001 0 -90 $ 1,677,895.88
AR9 ARCHTIS LTD 0.12 0 -13 $ 16,002,608.00
NVU NANOVEU LTD 0.044 0 -78 $ 5,963,859.00
RCL READCLOUD LTD 0.35 0 16 $ 32,798,362.00
RFN REFFIND LTD 0.005 0 -50 $ 2,562,000.00
NOV NOVATTI GROUP LTD 0.185 0 -14 $ 30,038,258.00
BIQ BUILDINGIQ INC-CDI 0.025 -39 -47 $ 12,447,745.00
LVH LIVEHIRE LTD 0.26 0 -35 $ 77,197,592.00
9SP 9 SPOKES INTERNATIONAL LTD 0.018 0 14 $ 18,028,962.00
ODA ORCODA LTD 0.225 0 20 $ 26,049,248.00
AVA AVA RISK GROUP LTD 0.125 0 -46 $ 25,752,712.00
OTW OVER THE WIRE HOLDINGS LTD 4.68 -1 -2 $ 244,618,528.00
ADA ADACEL TECHNOLOGIES LTD 0.45 -1 -71 $ 34,312,204.00
ARQ ARQ GROUP LTD 0.425 -1 -79 $ 53,737,696.00
3DP POINTERRA LTD 0.056 -2 -37 $ 27,624,824.00
ESK ETHERSTACK PLC-CDI 0.255 -2 9 $ 28,479,754.00
IRI INTEGRATED RESEARCH LTD 2.9 -2 39 $ 493,240,352.00
FZO FAMILY ZONE CYBER SAFETY LTD 0.18 -3 -46 $ 38,855,784.00
YOJ YOJEE LTD 0.072 -3 -20 $ 61,015,680.00
OPN OPENDNA LTD 0.034 -3 -3 $ 9,537,396.00
BCT BLUECHIIP LTD 0.16 -3 142 $ 83,750,088.00
RDY READYTECH HOLDINGS LTD 1.865 -3 26 $ 149,210,016.00
DXN DXN LTD 0.057 -3 -56 $ 20,830,124.00
XF1 XREF LTD 0.395 -4 -25 $ 66,984,724.00
ADJ ADSLOT LTD 0.026 -4 -41 $ 41,288,164.00
AD8 AUDINATE GROUP LTD 7.24 -4 106 $ 485,972,352.00
RCW RIGHTCROWD LTD 0.24 -4 -27 $ 47,495,576.00
NUH NUHEARA LTD 0.041 -5 -32 $ 44,612,832.00
RXP RXP SERVICES LTD 0.505 -5 20 $ 81,354,080.00
TGO TRIMANTIUM GROWTHOPS LTD 0.17 -6 -84 $ 23,622,710.00
360 LIFE360 INC-CDI 3.42 -6 -27 $ 506,233,344.00
K2F K2FLY LTD 0.16 -6 -40 $ 12,661,278.00
8CO 8COMMON LTD 0.087 -6 172 $ 13,605,514.00
BLG BLUGLASS LTD 0.13 -7 -47 $ 56,552,456.00
LVE LOVE GROUP GLOBAL LTD 0.065 -7 -55 $ 2,634,721.00
IP1 INTEGRATED PAYMENT TECHNOLOG 0.013 -8 -44 $ 3,706,083.50
TCN TECHNICHE LTD 0.024 -8 -37 $ 5,057,264.00
SLX SILEX SYSTEMS LTD 0.41 -8 100 $ 69,891,608.00
DTZ DOTZ NANO LTD 0.04 -9 -53 $ 10,160,434.00
WJA WAMEJA LTD 0.11 -9 5 $ 127,139,320.00
HIL HILLS LTD 0.205 -9 11 $ 47,557,032.00
TNT TESSERENT LTD 0.049 -9 -34 $ 12,464,610.00
MNW MINT PAYMENTS LTD 0.019 -10 -21 $ 16,392,758.00
SEN SENETAS CORP LTD 0.073 -10 -22 $ 78,937,048.00
SNS SENSEN NETWORKS LTD 0.095 -10 -36 $ 37,953,688.00
EVS ENVIROSUITE LTD 0.295 -10 303 $ 130,417,864.00
SIS SIMBLE SOLUTIONS LTD 0.043 -10 -59 $ 6,065,598.00
CLT CELLNET GROUP LTD 0.17 -11 -60 $ 10,641,166.00
BRN BRAINCHIP HOLDINGS LTD 0.049 -11 -57 $ 66,162,356.00
CRO CIRRALTO LTD 0.007 -11 -58 $ 5,282,061.50
DTS DRAGONTAIL SYSTEMS LTD 0.14 -13 -53 $ 34,843,680.00
IHR INTELLIHR LTD 0.062 -13 -62 $ 11,059,949.00
IXU IXUP LTD 0.082 9 -51 $ 10,615,731.00
EML EML PAYMENTS LTD 4.04 -13 154 $ 1,016,723,136.00
LNU LINIUS TECHNOLOGIES LTD 0.036 -14 -42 $ 44,417,072.00
LVT LIVETILES LTD 0.285 -14 -24 $ 233,075,856.00
MYQ MYFIZIQ LTD 0.26 -14 -41 $ 22,235,252.00
SE1 SENSERA LTD 0.068 -14 -28 $ 21,097,068.00
JXT JAXSTA LTD 0.305 -14 50 $ 69,531,568.00
PRZ PARAZERO LTD 0.06 -14 -50 $ 7,023,325.50
BUD BUDDY TECHNOLOGIES LTD 0.017 -14 -84 $ 42,600,864.00
CGL CITADEL GROUP LTD/THE 2.98 -15 -63 $ 150,383,840.00
4DS 4DS MEMORY LTD 0.059 -16 9 $ 65,991,988.00
ELS ELSIGHT LTD 0.39 -16 -33 $ 37,534,612.00
TYM TYMLEZ GROUP LTD 0.046 -16 -79 $ 6,017,028.50
NET NETLINKZ LTD 0.165 -17 384 $ 257,231,824.00
FCT FIRSTWAVE CLOUD TECHNOLOGY L 0.15 -17 -27 $ 47,323,392.00
HSC HOMESTAY CARE LTD 0.005 -17 -84 $ 3,996,246.00
APT AFTERPAY TOUCH GROUP LTD 28.69 -17 126 $ 7,137,020,416.00
MPW MSL SOLUTIONS LTD 0.078 -18 -59 $ 19,487,548.00
GSW GETSWIFT LTD 0.58 -18 9 $ 107,473,104.00
DUB DUBBER CORP LTD 1.28 -20 191 $ 236,994,320.00
KYK KYCKR LTD 0.17 -20 79 $ 40,130,132.00
DTI DTI GROUP LTD 0.023 -21 -63 $ 7,704,461.00
FAM FAMILY INSIGHTS GROUP LTD 0.072 -21 -42 $ 3,600,000.00
VOR VORTIV LTD 0.012 -21 83 $ 29,591,702.00
CIO CONNECTED IO LTD 0.003 -25 0 $ 5,473,440.00
TTL TRANSCENDENCE TECHNOLOGIES L 0.008 -27 -53 $ 1,389,765.38
IS3 I SYNERGY GROUP LIMITED 0.17 -29 28 $ 31,155,574.00
XPE XPED LTD 0.001 -33 -67 $ 1,506,830.75
OLV OTHERLEVELS HOLDINGS LIMITED 0.005 -38 -83 $ 1,434,207.00

 

Some tech stocks’ investors have been ringing alarm bells. The most notable was one of Australia’s tech darlings logistics software stock WiseTech (ASX:WTC) which was attacked a short sellers.

It has not collapsed like WeWork but shed $2 billion of its market cap in a week.

Another stock was energy intelligence company BuildingIQ (ASX:BIQ) which fell after a quarterly left investors frightened it was short on cash.

 

The best performers

But other stocks had positive news this quarterly season. Registry Direct (ASX:RD1) led the gainers up 60 per cent in the last fortnight. It gained 44 new fee-paying clients.

After an average start to listed life, communications software stock Whispir (ASX:WSP) has had a good fortnight since its own quarterly. It made $34.5 million in Annualised Recurring Revenue (ARR), up 10 per cent from last quarter and ahead of its prospectus.

Online screening company CV Check (ASX:CV1) is up 23 per cent in the last 2 weeks. It made record revenue and ARR of $9.6 million.

And then there’s IT services business CSG (ASX:CSV), which  received a takeover offer from Fuji Xerox. The share price jumped 30 per cent last week and it has held its ground since.