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Tech Quarterlies: Americans are leading the charge this morning
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The deadline is approaching for ASX small caps to release their latest quarterly reports – they’re due by Friday, January 31. As The Secret Broker puts it,” No quarterly report lodged by then will then automatically suspend the company and sod the shareholders.”
There were mixed results among today’s flurry of quarterlies but the best performing stocks were two US-based firms which had underperformed since listing.
Going up
The Semiconductor equipment maker is still well underwater from its $2 IPO price, suffering from a downturn in the industry last year. But this morning it climbed as high as 18 per cent.
Cash receipts were $US8.6 million and its net operating cash inflow was $US1.2 million. The company also gave an update on its activities noting it shifted from its margin legacy Silicon processing systems towards Silicon Carbide products.
Revasum’s new 6EZ Silicon Carbide polisher has proven to be particularly popular with its customers.
The San Francisco based child tracking app was one of the few underperforming IPOs last year but it climbed 10 per cent this morning. It had $US18.2 million ($26.9 million) in revenue and 27.2 million users.
While much of its user base is in America, it is beginning to gain traction Down Under with 570,000 monthly active users.
The Australian gainers
The cloud based HR and payroll software provider climbed 3 per cent this morning. It recorded the largest second quarter cash receipts in Elmo’s history – $15.4 million. Over the last four quarters it collected over $52 million.
In addition to its quarterly results, it released unaudited half yearly results. It made $23.6 million between July and December, has 1,478 customers and $78 million cash at bank.
This workplace management software provider impressed investors this morning, gaining 7 per cent. While it gave quarterly figures, its focus was on its half yearly performance.
Damstra’s total (unaudited) revenue at $10.2 million and it expects earnings of approximately $2.6 million. Both figures are ahead of its prospectus forecasts prior to its listing last October.
