Tech: iSentia’s turnaround bears fruit; shares jump 23pc
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This morning’s flow of tech earnings was led by media intelligence company iSentia (ASX:ISD). It gained 23 per cent after releasing earnings of $23.1m from revenues of $122.5m.
However, intangible write-downs led to a $34.3m underlying loss after tax.
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iSentia monitors the media (online, broadcast, print and social) so companies can monitor their industry and reputation. It has over 3,000 subscription customers and operates in 11 markets, although 72 per cent of its revenue comes from Australia and New Zealand.
Last year the company substantially dropped after its earnings. But this year it has gained as its turnaround plan appears to be working. The results were in line with what it promised back then.
“In FY19, we pointed the company in a different direction with the appointment of a new leadership team and the launch of a new strategy,” CEO Ed Harrison said.
“Looking ahead, we will be using the foundation set in FY19 as the base of our transformation of the company.”
isentia estimates earnings next year to be $20m to $23m.
Shares jumped nearly 23 per cent this morning and the company is now up over 30 per cent this year. However it still remains below levels seen in the middle of last year.
Remember Quantify Technologies (ASX:QFY), the intelligent homes company that was popular in Western Australia? Well it’s expanding into Queensland, with 8Digital agreeing to distribute its products. Queensland has over 20 per cent of Australia’s population and the new home build market. Karl Silverlock, 8Digital’s founder said, “we share the same vision as Quantify,” and noted his customers were already interested in the company’s products.
Water treatment stock Phoslock Environmental Technologies (ASX:PET) has jumped 7 per cent after its half-yearly earnings (it uses the calendar year). It made a $1m net profit after tax and will pay a maiden dividend to shareholders. It forecasts a $6m to $8m profit for the full year. The company’s technology is being rapidly rolled out in China.
HR software stock intelliHR (ASX:IHR) has climbed 6 per cent after signing a revenue sharing agreement with GO1 — the world’s largest compliance, personal development and general training platform. intelliHR’s customers will be able to access all of GO1’s online courses and intelliHR will provide a “single point of truth” for HR records. intelliHR will be paid a fee for referring customers to GO1.