Tech Top 5: YPB up 30% on document authentication tech and Tinybeans grows paid subscribers

YPB launches Government document authentication product
Tinybeans has got more paid subscribers in the last 8 weeks than all of FY21
Security Matters raises $3.1 m to commercialise its ESG tech

Here are the biggest tech players in early trade, Tuesday October 12.

YPB Group (ASX:YPB)

Anti-counterfeit player YPB Group is up 30% today after launching a new product – MultiSec Shield – for Government document authentication.

The product is a smartphone readable over-laminate incorporating YPB’s patented MotifMicro solution, and provides immediate smartphone verification as to whether a document is fake or real.

The company says potential applications include ID cards, passports, driver’s licences, birth certificates and vaccination cards or records.

YPB executive chairman John Houston said MultiSec Shield is a breakthrough product for the company in the documentation authentication market.

“MultiSec® Shield enables YPB to enter and demonstrate to potential customers the application of the product and is an important new product offering of the company,” he said.

“Its development has been market led, it solves a global problem, it has negligible barriers to adoption, and it offers immediate implementation at marginal incremental costs.”

Tinybeans (ASX:TNY)

Parent app and web platform Tinybeans was up 6.3% today, announcing growing subscriptions following the launch of its paid subscription offering – Tinybeans Beanstalk – in August.

Beanstalk has already acquired over 3,500 new paying subscribers since being released eight weeks ago – exceeding the 3,409 total paying subscribers added during all of FY21.

“The strong early adoption trends we have experienced following the launch of our paid subscription product, Beanstalk, in August highlight the additional value we are delivering to our userbase,” Tinybeans CEO Eddie Geller said:

“Not only have we added more paid subscribers on our platform after their initial 30-day free trial period in the past eight weeks than we did during the entire prior fiscal year, but we have also attracted new paid users to the platform.”

“The rollout of Beanstalk has only just begun, and as we work to further enhance our core offerings and strengthen our platform as a comprehensive, go-to parenting resource, we believe we are well-positioned to continue driving subscription growth.”

Security Matters (ASX:SMX)

Security Matters share price was up 3.3% today despite completing a $3.1 million placement to further the ESG commercialisation of its technology which uses a hidden chemical-based ‘barcode’ to permanently and irrevocably ‘mark’ an object (solid, liquid or gas).

The barcode is read using the company’s unique ‘reader’ to access the corresponding stored data, recorded, and protected using blockchain technology.

Proceeds from the placement will be used for:

Industrial scale identification, authentication and quantification of both virgin and recycled plastics using a conveyor belt reader system;
Progression to the next stage in the commercial phase that focuses on traceability, ethic sourcing and circularity for natural rubber & synthetic rubber with continental, a global tier 1 tyres and conveyor belt manufacturer;
Launch additional traceability, anticounterfeiting, origination verification and circularity projects for the Fashion Sustainability Centre; and
Launch new collaborative projects and initiatives in the wood, forestry, and cement sectors.

Ike Group (ASX:IKE)

Software player IKE won a $1.6 million customer contract extension today, with its share price rising 2.6%.

The company collects, manages, and analyses pole and overhead asset information for electric utilities, communications companies and their engineering service providers.

And it’s just signed an extension to its contract with a communications customer supporting fibre infrastructure deployment in mid-west regions of the US.

The contract is expected to generate around $1.6 million of transaction revenue in the coming 12 months and IKE expects further extensions to follow.

“The expansion across this customer further demonstrates the value that the IKE platform provides to communications groups, and our ability to expand the use of our platform over time across targeted groups,” CEO Glenn Milnes said.

“This specific entity has been a customer for several years, growing from an initial annual account size of tens of thousands of dollars to a multi-million dollar per annum account today. The long-term revenue opportunity with this group is substantial.”

Family Zone Cyber Safety (ASX:FZO)

Cyber Safety platform Family Zone was unchanged today after announcing its approaching a total of 10 million students across its product offerings.

The company acquired Smoothwall in August, and after launching Smoothwall Monitor to its US customer base won two 3-year contracts worth more than $200,000 combined in the September quarter.

The company also launched its B2B2C consumer product into US school districts with 92 districts, or 16% of US clients launching a Family Zone cyber safety (parent) hub by 30 September.

“Another outstanding performance as Family Zone delivered record numbers whilst completing and integrating the significant acquisitions of NetRef and Smoothwall. I couldn’t be more proud of our expanded global team,” Managing Director Tim Levy said.