• Brainchip granted US patent for its Akida AI chip
  • Elmo acquisitions and product launches boost revenue
  • Ansarada boosts quarterly revenue with expansion into GRC market


Here are the biggest tech players in early trade, Thursday October 21.


Brainchip (ASX:BRN)

AI player Brainchip was up 14.6% today after securing a US patent for its artificial neural network system for improved machine learning, feature pattern extraction and output labelling.

“This latest patent is one of five fundamental patents we have been granted since 2008 to protect our intellectual property rights and to ensure we maintain our global competitive advanced in the field of neuromorphic artificial intelligence,” CEO and co-founder Peter van der Made said.

“This patent is intended to protect the unique ability of the Akida chip to learn in real time, rather than being trained with many samples.

“As the world’s first commercial producer of neuromorphic artificial intelligence chips (Akida1000), we must maintain our lead over our competitors by ensuring our unique and revolutionary technology is protected and secure.”


Elmo Software (ASX:ELO)

HR software provider Elmo jumped 10.8% off the back of a solid quarterly, reporting annualised recurring revenue of $88.5 million – up 61% on the previous year.

The company said organic growth through the last 12 months was 28% across the mid‐market, highlighting the continued acceleration in ARR and the return towards pre‐COVID growth rates.

Elmo released two new modules over the quarter in Experiences and COVIDsecure.

Experiences enhances employee engagement within an organisation and the  COVIDsecure module enables businesses to record, monitor and report on their employees’ COVID vaccination and test status, assisting businesses to reopen safely.

The company also acquired Webexpenses and Breathe.

Elmo launched its mid‐market solution in the UK, leveraging the Webexpenses operational footprint and the Breathe small business platform was officially launched in Australia.


Ansarada (ASX:AND)

Software player Ansarada rose 5.8% today after record customer growth in the September quarter of 3,550 total customers and total revenue of $10.3 million – up 23% and 44% year-on-year respectively.

Sam Riley, CEO said the company is delighted to produce another record quarter of results, and improved operating metrics capped off with an announcement of a highly strategic acquisition of TriLine in the fast growing $52.5 billion governance risk and compliance market.

“In Q1 we also took great leaps forward evolving our core products and customer experience,” he said.

“We now have a business that is highly differentiated and positioned strongly for sustainable growth.”


Archer Materials (ASX:AXE)

Archer jumped 1.29% today off the back of its quarterly release and new focus as a pure play semiconductor company.

“Although the sale of the mineral exploration business to iTech Minerals Ltd didn’t complete until after the end of the Quarter, all the hard work was done during the Quarter,” Executive chairman Greg English said.

“We hope that a change of our GICS code to ‘Semiconductors’ will provide us with the opportunity to be admitted to the S&P/ASX All Technology Index.”

“Our 12CQ quantum computer chip technology development is unique and with the recent grant of the US patent we have plans to expand overseas.”


Mobilicom (ASX:MOB)

Defence and aerospace drone security system supplier Mobilicom was unchanged today despite announcing a new commercial contract with IAI, launching a world-first drone cybersecurity suite, and a commercial partnership with Triad USA during the quarter.

CEO Oren Elkayam said the company has continued to build on existing product demand with further design wins and contracts from leading drone and robotics manufacturers.

In Q3, we enhanced our product portfolio, and delivered the first to market AI-based 360° cybersecurity suite that addresses critical security challenges for commercial and industrial drone operators,” he said.

“We are gaining momentum with our updated go-to-market strategy, transitioning from a hardware technology provider to an end-to-end offering comprising cybersecurity, hardware and software smart solutions, which will generate new SaaS recurring revenue.