• ReadCloud heads into Q2 with strong customer retention and no debt
  • AssetOwl eyes expansion from WA and VIC real estate markets to QLD
  • 9SP has 7 VISA initiated leads in the pipeline

Here are the biggest tech players in early trade, Friday October 29.

ReadCloud (ASX:RCL)

Digital eLearning solutions provider ReadCloud was up 17.4% today off the back of its quarterly which saw a 103% increase in cash reciepets at $0.52 million compared to the previous year at $0.26 million.

Not to mention strong retention and recommitments of existing schools across its three sales channels – VET in schools, Direct Curriculum, and Reseller – for the 2022 school year.

The company also signed new schools, and says its cross selling of VET courses across its customer base is increasing.

And ReadCloud repaid a $0.47 million bank loan (from the acquisition of Ripponlea Institute) and ended the quarter with cash reserves of $4.47 million and no debt.

9Spokes (ASX:9SP)

The platform for business and financial intuitions rose 12.49%, detailing in its quarterly report that North American subscribers now exceed 200,000 business.

The company also implemented the Virgin Money UK platform during the quarter with deployment scheduled for the December quarter.

Plus, 9SP launched 9Spokes Open which targets organisations who need access to consented financial and commerce data through a single API, and also launched 3 new app connections – Clearbooks, Constant Contact and Podium.

Going forwards, CEO Adrian grant said the company has 34 active customer leads in the pipeline, 7 of which are Visa generated.

“There is rightful focus on our partnership with Visa. There is no question, it has been a huge learning curve in our first year,” he said.

“However, we have now integrated our product and processes so they are aligned with Visa. “In particular, we have unbundled all our products so they are now fully in line with how Visa go to market, and I am pleased we now have seven new Visa initiated leads.”


AssetOwl (ASX:AO1)

Up 10% today was property management platform AssetOwl, which had 25 real estate agencies licensed onto the Pirsee Inspection Platform at the quarter’s end.

Pirsee is a photo-centric property inspection platform designed for residential real estate and provides a complete photographic record of the state of a property at the commencement of a property lease period and throughout a tenancy.

The company also signed agreements with 3 of the big 4 Perth-based outsourced real estate inspection providers during the quarter – and says the transition from trial to paid licences is accelerating.

AssetOwl currently has around 9,000 properties under management in WA representing around 6% of professionally managed properties in the state and has signed 2 agencies in Victoria.

CEO Geoff Goldsmith says the company will look to expand its geographic coverage in WA, whilst also seeking to grow the number of Victorian agencies on the platform.

“We are also working closely with Queensland agencies to build a Queensland version of the product, with an expected release late 2021/early 2022,” he said.

Delta Drone International (ASX:DLT)

Up 2.38% today was Delta Drone, with receipts from customers over the quarter of A$1.427 million – an increase of A$95k on previous quarter.

The company said these results were driven by contracts with multinational enterprise mining companies, Barrick Gold (Holdings) Limited, Anglo American Platinum Limited subsidiary, Rustenberg Platinum Mines Limited and Corteva Agriscience RSA (Pty) Ltd subsidiary, Pioneer Seed RSA.

“This quarter has seen our expansion strategy in Australia start to take form, with the acquisition of 60% of the shares in aerial and terrestrial surveying services provider, Arvista,” CEO Christopher Clark said.

“While it’s still early days, with Arvista only commencing trading as a DLT subsidiary as of 1 September, I look forward to closing out 2021 and entering 2022 with a fully operational and growing presence in Australia.”


Way 2 Vat (ASX:W2V)

The fintech company was up 2.77% after successfully IPOing at $7 million during the quarter, and doubling the number of its SMB clients via accounting firms from 200 to 400.

W2V said this drove a rapid scaling in untapped small-medium business (SMB) market in indirect sales channels through large technology partners such as Xero and Sage

The company also signed ten new enterprise customers across a broad range of industries, having grown from 150 to 180 enterprise clients globally in 2021

“There is a clear trend for enterprises to automate and digitise their tax and compliance related processes, playing to Way2VAT’s key strengths and growing our business development and sales pipeline,” founder and CEO Amos Simantov said.

“By providing integrated VAT claim and return solutions in 40 countries and in over 20 languages, serving hundreds of enterprise businesses worldwide, Way2VAT is playing a leading role in the global shift to digital taxation systems and the streamlining of many of the antiquated systems that still exist for VAT collection.”