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Alinda Gupta
Alinda is a Business Reporter for The Sentiment
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Ovanti’s iSentric signs contracts worth $14.4m with Malaysian commercial bank
After changing its name, gaining adequate funding and being reinstated to the ASX, fintech and digital commerce company Ovanti (ASX: OVT), previously known as IOUPay (ASX: IOU), is finally returning to doing business after allegations of fraud and misappropriation of funds. The Company has signed a major new contract through its subsidiary, iSentric (no affiliation
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Baby Bunting fights back from retail downturn with 5-year strategy, includes Gen-Z focus and self-funded growth
Australia sees about 300,000 births every year, creating a fertile ground for businesses like Baby Bunting (ASX: BBN) to thrive, but that hasn’t been the case in recent months as sales have reflected a big pullback in spending amid cost-of-living pressures on young families and online competition from the likes of Temu and Shein. From
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CLEO meets with US FDA to develop strategy for ovarian cancer test launch
Ovarian cancer diagnostics company Cleo Diagnostics (ASX: COV) has taken a major step towards the US launch of its pre-surgical triage test for ovarian cancer detection. The Company wrapped up an initial pre-submission meeting with the U.S. Food and Drug Administration (FDA), thus setting its regulatory journey in motion. Ovarian cancer is a serious health
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EROAD signs largest Australasian customer after achieving positive free cash flow
Fleet management and transport technology software company EROAD (ASX: ERD) has signed on its largest Australasian customer. Though EROAD kept the customer’s name under wraps, it did divulge the details. EROAD has secured the contract for a minimum of 5,000 units for the customer’s Australian fleet and an additional renewal for 6,000 units for its
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Qantas invests in regional fleet to boost connectivity, increasing warfare with REX
Forging on its expansion into regional Australia (possibly ticking off Rex (ASX: REX) further), national carrier Qantas (ASX: QAN) has announced a new investment into its DeHavilland Dash 8 turboprop fleet. It is part of its ongoing commitment to “keeping regional Australia connected”. The first aircraft will join the Company’s regional brand, QantasLink, by the
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Cettire shares plummet on trading update, hopes website launch in China can combat local sales decline
Softer trading conditions proved detrimental for online luxury goods retailer Cettire (ASX: CTT), impacting its financial performance in the quarter. To combat the decline, the Company has expanded its base, officially launching its direct platform in mainland China which went live yesterday and has already processed orders. This marks a big step in its strategic
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HeraMED and Telstra Health come together to launch remote maternity solution HeraCARE
Medical data and technology company HeraMED (ASX: HMD)’s subsidiary HeraCARE is gearing up for its soft launch with Telstra. It will soon be available to medical practices using Telstra Health’s MedicalDirector patient management software. In November 2023, HeraMED initially announced its partnership with Telstra Health’s MedicalDirector platform, which serves GPs and healthcare professionals. HeraCARE is
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Mosaic Brands struggles continue as retailer flags lower consumer spending
Australian fashion retailer Mosaic Brands (ASX: MOZ)—the company behind brands like Noni B, Millers, Rockmans, Katies, Crossroads and Beme—has reported a challenging second half of FY24, citing disruptions in its supply chain and a decrease in consumer spending as key factors impacting its financial performance. Despite a strong first half with a $13.1 million EBIT,
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Testing methylone for PTSD treatment: Emyria’s Centre appointed site for clinical trial
Biotechnology company Emyria (ASX: EMD), which develops treatments for mental health and neurological conditions, has newly inaugurated its treatment facility Empax Centre. The centre has been selected as a key site for a clinical trial sponsored by New York-based Transcend Therapeutics. The trial will evaluate the safety and efficacy of methylone, a novel rapid-acting neuroplastogen
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TGA approves Control Bionic’s autonomous wheelchair for commercial sales after NDIS delays
So you’ve seen self-driving cars and drones, now gear up for an autonomous wheelchair that dispels the need for joysticks. In wheelchair users, atrophying muscles can make it challenging to use the joystick properly, thus losing control of their wheelchair. That’s where digitising the experience further helps. Medical device company Control Bionics (ASX: CBL)’s autonomous
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Mach7 completes largest renewal program in its history with DocPanel
Medical imaging software company Mach7 Technologies (ASX: M7T) has signed a three-year subscription renewal agreement with radiologist platform DocPanel for the Company’s Enterprise Imaging Platform and eUnity Diagnostic Viewer. The agreement is for a three-year subscription license with a minimum fixed fee. The total minimum value of the renewal is $1.9 million and will generate
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Vection awarded $1.2m worth of contracts from tech service providers
Between 2022 and 2023, the Australian Cyber Security Centre received over 94,000 reports of cybercrime – a 23% increase from the preceding period. This underscored the need for companies to improve their cybersecurity infrastructure, which is where the integrated mixed reality company Vection Technologies (ASX: VR1) comes in. Vection has won two contracts valued at
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Quickstep transitions to next phase of multi-year production orders with major contracts
Aerospace and defence services company Quickstep Holdings (ASX: QHL) announced significant progress in its long-term agreements with aerospace and defence companies Northrop Grumman, Lockheed Martin and Marand. Over the coming months, the Company is transitioning into the next phase of multi-year production orders under these agreements, signalling sustained business prospects. Quickstep is a global manufacturer
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Close the Loop plans global expansion in FY25, eco initiatives in the US, Europe and the Middle East
Takeback provider of ink and toner cartridges Close the Loop (ASX: CLG) is set to expand its footprint in the US, Europe and the Middle East. Over the next 12 months, the Company anticipates establishing new facilities in these locations to support its growing operations. This expansion aligns with its strategic goals and aims to
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TES Global lobs bid to acquire HR tech company Schrole for $18.1m
After establishing new leadership in the first half of FY24, HR Software-as-a-Service (SaaS) company Schrole Group (ASX: SCL) has almost closed an acquisition proposal from EdTech company TES Global. The Company has entered into a Scheme Implementation Deed with TES Aus Global, a subsidiary of TES Global Limited (TES). TES will acquire 100% of Schrole’s
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Vita Life Sciences reports sales growth of $4m as it launches in Vietnam
Pharmaceutical and healthcare company Vita Life Sciences (ASX: VLS) has forecasted a positive growth trajectory for the first half of CY24. Besides expecting sales growth, it is also expecting returns from its recent product launch in Vietnam. The Company expects sales to rise to between $39 million and $40 million, up from $34.7 million in
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Bubs Australia rebounds in China after CEO fiasco, sees USA growth
Baby formula company Bubs Australia (ASX: BUB) has all but closed the chapter on its financial and legal troubles that underlined most of last year. In the USA, its weekly scan revenue exceeded $1.5 million per week, with over 24,000 tins sold. The number of tins sold increased by 10k to about 24k compared to
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MMA Offshore increases FY24 earnings guidance amid Cyan takeover bid
Marine and subsea solutions company MMA Offshore (ASX: MRM) has been up and up, providing positive earnings guidance while negotiating a takeover. Its earnings visibility and performance across the second half have continued to improve. The Company’s FY24 financials follow a solid FY23, which also saw a stronger-than-expected second half. MMA Offshore secured several positive
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Lark appoints Spirits Platform as domestic distributor, forecasts extra $3m revenue in FY24
Australian whisky distillery Lark Distillery (ASX: LRK) is gearing up to close FY24 with over $3 million in revenue and Spirits Platform as its domestic distribution partner in a five-year agreement. SP is an Australian Spirits Distributor, established in 2015 by the ex-Suntory Australia Management team. It is majority-owned by its management team, with minority
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Singular Health launches new online DICOM viewer with ChatGPT integration
Medical technology company Singular Health Group (ASX: SHG) has publicly launched its new online DICOM (Digital Imaging and Communications in Medicine) viewer and a ChatGPT 3.5 AI integration with semi-automated patient education prompts. This enhances doctors’ analysis of medical imaging. The product launch comes just three months after the initial online proof-of-concept. The online viewer
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Talius receives purchase orders worth $1.5m order for emergency response systems
It’s raining contracts for technology-enabled care solutions company Talius Group (ASX: TAL). The Company has received purchase orders to supply its assistive technology solutions to ADT New Zealand, a subsidiary of Intelligent Monitoring Group (ASX: IMB). From August 2024 to December 2024, ADT will provide five orders for 1,000 Personal Emergency Response Systems (PERS) units
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Aurora Labs secures purchase order from Australian Government for 3D printed parts
Industrial technology and 3D printing company Aurora Labs (ASX: A3D) has received a significant purchase order from the Australian Government’s Department of Defence, valued at $49,400. This order involves the supply of experimental metal alloy 3D-printed parts, marking Aurora Labs’ strategic entry into a larger market segment that it has been targeting for the past
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SRG Global awarded $125m worth of new work from existing clients across Australia
Following a solid first half of FY24, diversified industrial services company SRG Global (ASX: SRG) has retained the momentum. The Company has been awarded multiple contracts with existing clients in the renewable energy, resources and energy sectors across Australia. The value of the new works secured is $125 million. The new wins include a six-year
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BlinkLab teams up with Bates College to undertake smartphone test for neurological disorder diagnosis
Digital healthcare company BlinkLab (ASX: BB1) is set to participate in a clinical study with Bates College, Maine, to assess the performance of its smartphone test as an aid in the diagnosis of functional neurological disorder (FND). The tests will be used for remote testing of FND patient populations in Maine, New York, New Jersey,
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Arovella completes development for cell therapy platform, moves to large scale manufacturing
Biotech company Arovella Therapeutics (ASX: ALA), focused on developing its invariant Natural Killer T (iNKT) cell therapy platform for cancer treatment, has achieved a major milestone. It has completed process development for its patent-protected manufacturing process required for large-scale Good Manufacturing Practice (GMP) manufacturing of its lead product, ALA-101. ALA-101 is an “off-the-shelf” CAR-iNKT cell
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Harvest Technology launches Nodestream Live for remote video monitoring
After a few board changes and a successful beta test program, software company Harvest Technology Group (ASX: HTG) is now ready to launch its remote video monitoring platform, Nodestream Live. This platform was previously introduced as the AVRLive Cloud. Nodestream Live is a cloud-based software designed to streamline and enhance remote video monitoring in bandwidth-constrained
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Visionflex exits PetYeti and GoBookings, forecasts 25% revenue growth
Virtual healthcare solutions company Visionflex (ASX: VFX), known for its telehealth devices, medical equipment, and software solutions, has shared a solid financial projection for FY24 following a name change and business divestments. The Company exited PetYeti and GoBookings, completed in March and May 2024, respectively, to concentrate exclusively on the Visionflex business division. Following a
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AFT to launch Maxigesic Rapid in the United States after IV launch in Feb
Pharmaceutical company AFT Pharmaceuticals (ASX: AFP) has teamed up with pharma wholesaler Alexso to distribute Combogesic, or Maxigesic Rapid Tablets, in the United States, the largest pharma market in the world. Maxigesic Rapid is a treatment for postoperative pain management. Clinical data showed that Combogesic IV provides more analgesia, or pain relief, than comparable doses
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BetMakers signs two-year market access agreement with Bet365 as latter faces AUSTRAC investigation
Australian wagering tech company BetMakers Technology (ASX: BET) has signed two-year market access and content agreements with the online British-based bookmaker Bet365 relating to New Jersey and Colorado. As per the agreements, Bet365 will be licensed by BetMakers to offer fixed odds bets on thoroughbred horse racing to Bet365 customers within New Jersey. Bet365 will
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INOVIQ validates exosome therapy to target and kill breast cancer cells
About 57 people are diagnosed with breast cancer every day in Australia, with instances having grown over the past decade. New and improved treatments are crucial, and to address that, Australian diagnostics company INOVIQ (ASX: IIQ) has developed a special exosome therapy that can target and kill breast cancer cells in lab tests. The Company
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Aspermont launches new products to rejig business following founder death, pushing Anything-as-a-Service
Death and business despair underscored media services provider Aspermont’s (ASX: ASP) first half of FY24 as it grappled with the loss of its founder Andrew Kent and a massive earnings decline. In H1 FY24, the Company’s revenue was down 15% on H1 FY23 to $8 million, with its gross profit declining by 29% to $3.9
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New clients boost Catapult revenue to a milestone $152m, forecasts higher free cash flow in FY25
Thanks to expansions and new product launches adopted by the likes of F1 and NASCAR, sports tech company Catapult (ASX: CAT) reached a revenue milestone in FY24, with its SaaS divisions boosting sales. In FY24, the Company’s annualised contract value (ACV) grew 20%, with Catapult hitting a revenue mark of $152 million. Its profit margin
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Fluence bags $7.2m contract in Brazil for a water treatment system within a thermal power complex
Wastewater treatment and reuse company Fluence Corporation (ASX: FLC) has secured a $7.2 million contract to provide a demineralised water treatment system for Eneva in Silves, Amazonas, Brazil. Eneva is a private operator of onshore natural gas in Brazil, with a strong presence in Amazonas. The system will be part of Eneva’s new $1.6 billion
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Cleo’s ovarian cancer blood test proves more effective than CA125 clinical benchmark and ultrasound
A benchmarking study comparing ovarian cancer diagnostics company Cleo Diagnostics (ASX: COV)’s blood test against ultrasound has been published in the scientific journal “Cancers” with positive outcomes. The study found that Cleo’s initial test for the surgical triage market significantly outperforms the current clinical workflows that use Cancer Antigen 125 (CA125) and ultrasound to predict
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Straker introduces AI Cloud and Verify services amid dwindling revenue and lowered sales
In FY24, AI-driven language and content services provider Straker (ASX: STG) faced market conditions tougher than initially expected, with lower revenue growth and subdued M&A activity. Investors did not look kindly upon this underperformance, with Straker shares falling about 37% in FY24. During the period, Straker diversified its services to include a generative AI-based product
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From pain to gain: EPO grants PainChek patent in 20 European nations
Medical device company PainChek (ASX: PCK), developer of a smartphone-based pain assessment and monitoring application, has been granted a patent in 20 European nations by the European Patent Office (EPO). The patent application is titled “A Pain Assessment Method and System” and allows PainChek to safeguard the intellectual property of its pain assessment and monitoring
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Bailador invests $20m in digital healthcare platform Updoc amid growing telehealth adoption
COVID-19 was a turning point for the telehealth industry. In Australia, between 2020 and 2022, more than 100 million telehealth services were delivered to around 17 million Australians. Over $5 billion in Medicare benefits were paid, and about 90,000 medical practitioners have now used telehealth services to support their patients. Aussies have been quick to
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EMVision analysis confirms hyperacute and acute ischaemia stroke detection capabilities
Ischaemia is a condition in which the blood supply to any part of the body is so severely restricted that it receives no oxygen and can result in a stroke. Early detection is crucial, and so, medical devices company EMVision (ASX: EMV) has been conducting multi-site clinical trials to advance its neurodiagnostic AI algorithms to
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Genetic Signatures halts development of US respiratory product due to competition
Global molecular diagnostics company Genetic Signatures (ASX: GSS) has decided to halt the development of its EasyScreen Essentials Respiratory Detection Kit for the US market due to increased competition and changing market dynamics. It will now focus its effort and investment on the anticipated launch of the EasyScreen Gastrointestinal Parasite Detection Kit in the US.
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PlaySide Studios to develop Game of Thrones strategy game with Warner Bros
Winter is coming, and a Game of Thrones-themed game by video game developer PlaySide Studios (ASX: PLY) is being developed with it. The Company has teamed up with Warner Bros. Interactive Entertainment and HBO to develop a multiplayer strategy game based on the Emmy Award- and Golden Globe-winning Game of Thrones series. This new premium
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EROAD’s price hikes boost cash flow, expects cash flow positivity
After grappling with significant losses, transportation technology services company EROAD (ASX: ERD) appears to be bouncing back. It has revealed its FY24 results, ending March 2024, as it enters FY25 with high hopes. EROAD achieved a notable improvement in free cash flow, turning positive at $1.3 million, a significant rebound from the negative $29.9 million
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The Reject Shop earnings dip by over $10m as cost of living bites
In this economy, saving a quick buck is a priority. That’s also the reason behind K-mart profits booming to over $600 million in the first half of FY24. Australians are casting around for low-priced goods that provide good value. Why, then, did the discount retail chain The Reject Shop (ASX: TRS) have a sobering experience?
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Webjet to demerge Webbeds to create new ASX listing as travel disruption proving highly profitable
Global travel company Webjet (ASX: WEB) is exploring a demerger with two of its companies expected to be listed on the ASX. The merger would separate its two travel divisions: WebBeds, the global bed banks business, and Webjet B2C, which includes Webjet OTA, GoSee, and Trip Ninja. If pursued and completed, the demerger will create
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Plenti replaces offshore operations with automation, launches new NAB car loan product
FinTech company Plenti (ASX: PLT) ended FY24, ending March 2024, with improved operating efficiency. In the final quarter, offshore operational support was eliminated and these functions were replaced with advanced technology. Moreover, this improved Plenti’s proprietary technology platform and facilitated a new integration with National Australia Bank (NAB) systems to support the “NAB powered by
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EchoIQ develops AI to detect heart failure, lays out FDA pathway
In Australia, heart failure affects over half a million individuals, making up over 150,000 hospitalisations per year, over 60,000 deaths, and a cost of over $3 billion. Globally, heart failure affects more than 60 million people and is the world’s leading cause of hospitalisation in people over 65 years. It makes up 17% of all
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Telstra to lay off 2800 workforce, set to boost AI adoption to streamline its business model
In 2022, telecom giant Telstra (ASX: TLS) launched its T25 growth strategy focusing on improving customer experience and becoming more digital-first. In line with that, the Company is set to let go of up to 2,800 of its direct workforce, with the majority to be eliminated by the end of CY24. Telstra will also update
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Avada downgrades FY24 guidance in light of union activity, bad weather and cancellations
Project cancellations and delays, union activities in the sector, and continued unstable weather appear to have flustered traffic management company Avada Group (ASX: AVD), which was prompted to review its FY24 guidance. Its FY24 underlying EBITDA is forecast to be between $14.5m and $15.5m, down from FY23’s $16.1m and its previously issued FY24 guidance of
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InteliCare expands aged care pilot program to full site deployment in $2.1m contract win
Australian software-as-a-service (SaaS) company InteliCare Holdings (ASX: ICR) has transformed its pilot phase into a full-fledged contract with the nursing facility Hardi Aged Care. The Company announced that its 10-bed deployment at the Hardi Aged Care Manly Vale facility will now expand to a full site rollout. In addition, InteliCare will be deployed into 42
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Federal government cracks down on international student visas, NextEd foresees difficulties
Over the past few months, the Federal Government has tightened immigration to halt the country’s international student growth. In light of that, existing education providers like NextEd (ASX: NXD) have had to change tact. NextEd’s international student mix has shifted from the English language to vocational courses. Total new international student (ELICOS and vocational) enrolments
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Orcoda’s Future Fleet bags new sales orders exceeding $640k in six weeks
In the June quarter to date, smart transport technology solutions provider Orcoda’s (ASX: ODA) subsidiary Future Fleet has secured major new sales orders. Just six weeks into Q4 FY24, orders exceeded $640k, with revenue expected to be booked over the next few months. These orders will also contribute about $300k in annual recurring software revenue
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Federal budget’s funding boost for HIV self-testing kit ups Atomo Diagnostics morale
By 2030, the Australian government aims to eliminate HIV transmission. An ambitious goal, but in line with the country’s declining HIV rates. Over the past ten years, instances of HIV have all but halved. But there’s still work to be done. On May 14, the Australian government announced its 2024-2025 federal budget with a focus
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RAS Technology founders sell down 3 million shares following new contracts
One day after announcing new contract wins, wagering tech company RAS Technology Holdings (ASX: RTH) has notified the market that its founders, Gary Crispe and Robert Vilkaitis, have sold down 3 million shares a month after the duo sold another 5 million RTH shares. This sell-down represents 6.6% of the Company’s issued capital on top
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Innlanz to delist from the ASX, shareholders given option to cash out in buy-back
Hospitality and accessory retail company Innlanz (ASX: INL) is set to delist from the ASX, surrendering to the COVID effect on its business. The Company’s board of directors noted that its financial position and the COVID-19 pandemic-forced changes in its business, the costs and administrative burden of remaining listed on ASX outweigh the benefits of
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Virtual girlfriends and beyond: Fatfish to acquire 51% stake in AI Gaming Co for $2.8m to enter genAI gaming
If you’re even somewhat acquainted with the AI gaming space, you’ve probably heard of virtual girlfriends, AI avatars and more. Gamers have lapped up AI content, with its popularity set to surge. In keeping with that, internet venture investment company Fatfish (ASX: FFG) has progressed with its proposed acquisition of a strategic stake in AI
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MaxiPARTS struggles with cost pressures due to slowdown in transport activity
Though recent acquisitions and business strategies are bearing fruit, commercial truck and trailer parts company MaxiPARTS (ASX: MXI) has struggled with flattened revenue. That’s because of a slowdown in transport activity on the East Coast in March and April, combined with increased pricing pressure and ongoing cost inflation. Due to the slowdown, its underlying sales
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SCEE increases exposure to data centres through MDE Group acquisition for $10.5m
After working together for many years, engineering services company Southern Cross Electrical Engineering (SCEE) Group (ASX: SXE) is set to acquire electrical services company MDE Group, adding to its operational arsenal. The Company will acquire 100% of MDE Group for $10.55 million. Completion is expected to occur by the end of May 2024. Founded in
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Optiscan signs know-how agreement with Mayo Clinic to develop breast cancer tech
In line with its US pursuit, medical equipment manufacturer Optiscan Imaging (ASX: OIL) has signed a know-how agreement with the US-based academic medical centre Mayo Clinic to develop a new endomicroscopic imaging system. The companies will work together to co-develop technology for use in robotic surgery. The global market size for medical robots is set
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Motio boosts revenue target amid division-wide growth of advertising services
Digital-out-of-home solutions are crucial to many brands who want to get visibility beyond the internet and social media. That’s where media company Motio (ASX: MXO) comes in. In the week of May 6, 2024, the Company saw its largest forward media booking week since Motio’s inception, providing confidence as it enters FY25. Motio remains on
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Trajan sees demand for life science products soften, hopeful for rebound next year
Melbourne-based developer and manufacturer of analytical and life sciences products Trajan Group (ASX: TRJ) expects its full-year revenue for FY24 to fall short of previous projections due to delays in order delivery and unexpected softening in the pharmaceutical sector. Trajan manufactures analytical and life sciences products and devices—including microscope slides, analytical syringes and micro-sampling tools
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Lockheed Martin to integrate Elsight’s Halo to boost connectivity and efficiency for clients
In an era of connectivity, companies cannot afford to lose out on any information—especially in sensitive areas like defence. That’s where drone connectivity solutions company Elsight’s (ASX: ELS) Halo comes in. During a strategic collaboration exercise, the Company found that its Halo connectivity platform was rapidly integrated with Lockheed Martin’s Indago 4 UAS (drone) to
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AF Legal records first loss in 15 months due to major employee turnover and fewer cases to work
Losing sales because of fewer clients is an understandable, although unfortunate, negative contributor for a business. But when employees taking more vacation days or leaving causes the business to all but fall apart—that is cause for concern. Australian law firm AF Legal (ASX: AFL) was hit with this double whammy in Q3 FY24, as it
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SKS Technologies wins Australian air force contracts worth $11 million
Electrical technology solutions company SKS Technologies Group (ASX: SKS) has secured several major contracts for electrical and communications infrastructure projects at the Australian Defence Force’s RAAF Base Tindal in the Northern Territory—the Air Force’s youngest operational base. The combined value of the projects is approximately $11 million. This follows the Company’s national expansion strategy. Chief
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Candy Club to acquire Scalare Partners and change name in back door listing
The days of subscription candy delivered to your door are no more with confectionery company Candy Club (ASX: CLB) set to merge with tech advisory business Scalare Partners which will list on the ASX via the Candy Club back door. Upon completion, Candy Club will formally change its name to Scalare Partners, with a combined
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Lumos completes phase 1 of developing premature birth detection test
A recent report revealed that, in the US, the rate of babies being born prematurely has been rising. Between 2014 and 2022, premature births grew 12% to 8.7%. This paints a concerning picture for mothers and infants who face great risk. To address this, point-of-care diagnostic technologies Lumos Diagnostics (ASX: LDX) has been working on
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Weakening economy leads RV dealer thl to reduce profit guidance by $20m
Rising inflation and lowered spending capacity are coming for the recreational vehicles (RVs) industry as fewer people seek out campervans and motorhomes. Following a review of all its divisions, New Zealand-based tourism company Tourism Holdings (ASX: THL) has lowered its net profit after tax (NPAT) guidance for FY24. It expects NPAT to be between $45.5
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Count’s $45.3m Diverger acquisition to bring in more cost benefits than expected
Since acquiring Diverger, a major player in Australia’s financial services landscape, accounting and wealth services provider Count (ASX: CUP) has been recording major cost synergy benefits. The Company has noted that annualised expected cost savings from the integrated wealth management business have been upgraded to about $4 million. This will be achieved in FY25. The
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Little Green Pharma rejoices at US recommendation to reclassify weed as less dangerous
Word on the street is that marijuana in the US might soon be classified as not as threatening as LSD and heroin, thus allowing cannabis companies like Australia-based Little Green Pharma (ASX: LGP) to chart their entry. Sources in the US Drug Enforcement Administration have confirmed the regulator will recommend reclassifying cannabis from Schedule I
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Taylor Swift, leisure travel and more boost Helloworld earnings in March quarter
Even though travel itineraries are laid out in TikTok and Instagram videos, people still look to travel agents to plan their trips. Travel distribution company Helloworld (ASX: HLO) saw its network agents continue to experience high demand for leisure and corporate travel in Australia and New Zealand. Even though demand for domestic leisure travel has
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Intelligent Monitoring Group to revive the 2017 retired Signature Security brand in $2.5m Adeva acquisition
Sometimes, the better business solution is to bring back the tried-and-tested instead of launching something new – a sales strategy security tech company Intelligent Monitoring Group (ASX: IMB) is applying it now. IMG’s subsidiary, Mammoth Security, is set to acquire security systems company Adeva Home Solutions. IMG will pay Adeva founders Adam Woolston and Evan
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Marley Spoon pulls back discounts, focuses on richer customers for meal kit service
Meal kit services are great for people who just can’t be bothered to think up new recipes every day. However, for the average Joe, they can be too expensive. So, subscription-based meal kit provider Marley Spoon (ASX: MMM) beefed its services up with discounts. But that did little to help its financials. Now, the Company
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Forbidden Foods boosts snack bar supply, cuts costs with Edenvale supply agreement
After seeing its Blue Dinosaur snack bar product near extinction in online and offline grocery aisles, health and wellness food company Forbidden Foods (ASX: FFF) is picking up the pace again. In March, it handed over the snack bar’s production to NSW-based product developer Edenvale, which has helped cut costs and bring inventory up to
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xReality locks in US contracts for VR systems, makes a bid for Department of Defence
The applications of virtual reality systems are far-reaching. From providing entertainment to strengthening military training processes—extended reality, i.e. a mix of virtual, augmented and physical reality, is widely adopted. That’s where the immersive extended reality company xReality Group (ASX: XRG)’s reality is thriving. In Q3 FY24, the Company saw strong sales growth for its subsidiary
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Archer develops precision sensing technology for 12CQ chip
Semiconductor company Archer Materials (ASX: AXE) has made notable technology development progress with its 12CQ quantum chip and its Biochip lab-on-a-chip technology. To progress the 12CQ chip development, Archer designed, developed and built a new type of device called a pulsed electron spin resonance (p-ESR) chip. Archer was able to leverage the expertise of Swiss-based
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Adore Beauty CEO steps down but FY24 financials remain on track with sales via app rising
Beauty e-commerce retailer Adore Beauty Group (ASX: ABY) has informed that its CEO, Tamalin Morton, has noted her intention to step down in 2024 for personal reasons. Tamalin will remain in the position until September 2024. After the successful transition to a new CEO, she will take on a consulting role to provide ongoing strategic
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RentPay surpasses $250 million worth of payments on platform
House-hunting horror stories have become commonplace, with Aussies and immigrants grappling with rising rents. To alleviate some of the stress, rental platform Rent.com.au (ASX: RNT) recently expanded its rental payments platform RentPay to accommodate more digital wallets. As a result, the Company has achieved the significant milestone of processing $250 million of payments since its
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As global tensions rise, archTIS sees revenue surge driven by demand for information security services
By 2030, the global cybersecurity market is expected to be valued at over $800 billion. Plus, global defence agencies are prioritising upping their cybersecurity in light of growing global tensions. At this time, information security services provider archTIS (ASX: AR9) has seen its revenue surge. During Q3 FY24, archTIS’s total revenue was $2.6 million, an
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Austco to fast-track hospital sales in Aus with $10.6m acquisition of Amentco
After announcing a potential share price agreement to acquire Amentco in February 2024, Austco Healthcare (ASX: AHC), a healthcare workflow management solutions company, is going full steam ahead with execution. It will wholly acquire Amentco, a communications hardware and software solutions provider and certified Austco Nurse Call reseller, for $10.6 million. The acquisition will fast-track
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Articore sees lower marketplace revenue, negative cash flow owing to seasonality
Last year, online marketplace Articore (ASX: ATG) undertook a business restructure, changing its name from Redbubble. However, the new name has yet to drive a change of fate. In the third quarter of FY24, the Company reported a higher profit margin but struggled with losses and cash flow. Group CEO and Managing Director of Articore,
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IXUP bags $4m in funding round, enters cash flow positivity in Q3 and gears up for wagering tech commercialisation
Thanks to major contract wins with an NFL and an NBA team and progressing with its existing product suite, software company IXUP (ASX: IXU) entered the third quarter with cash flow positivity. Moreover, IXUP – pronounced “eyes up” – launched and, subsequent to the end of Q3 FY24, completed a $4 million partially underwritten non-renounceable
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MedAdvisor reports strong quarter thanks to US vaccine programs and Aus transaction fees
Following a notable US performance, integrating conversational AI and increased pharmacy transaction fees in Australia, medication management platform MedAdvisor Solutions (ASX: MDR) has reported a strong third quarter in FY24. The December to February period in the US is typically the flu season, placing importance on getting vaccinated. This proved beneficial for MedAdvisor. In the
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Zoono secures first UK supermarket customer for shelflife extension tech with OSY
About a third of all food produced is lost or wasted yearly. Besides painting a grim picture of world hunger, this is also responsible for harmful emissions. Tackling food waste, global biotech company Zoono (ASX: ZNO) has teamed up with England-based hygiene tech company OSY to distribute a tech that boosts the shelf-life of produce.
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Genetic Signatures receives TGA nod for updated respiratory kit in time for influenza season
Flu season is around the corner, typically affecting us between May and September. Just in time for that, Australian global molecular diagnostics company Genetic Signatures (ASX: GSS) is gearing up to launch its modified respiratory kit in the country. The Company reported that the Therapeutic Goods Administration (TGA) has completed the review of its redesigned
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Felix awarded new contracts as supply chain reporting becomes mandatory
SaaS-based vendor marketplace Felix Group (ASX: FLX) reported a strong sales quarter, with five new contractors added and three contract expansions in Q3 FY24. As supply-chain reporting and compliance practices become mandatory, services like Felix’s – where all interactions are imprinted online – become crucial. The new contract wins and expansions added $407k of new
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Booktopia reports soft quarter after Black Friday season as Aussies opt for more cost-effective literature
Young Australians’ reading habits leave plenty to be desired. A 2024 study found that one in three Australians is struggling to read, costing the economy billions of dollars and painting a bleak picture for online booksellers like the Booktopia Group (ASX: BKG). The Company has been reeling under the impact of declining interest in books,
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Vection secures $500k contracts for extended reality naval maintenance tech
Some food for thought: if the Titanic was built with artificial intelligence (AI) expertise, would it have met the same fate? Would it have been dubbed the “unsinkable” ship at all? Simulations, digital twins of ships, better employee training and more are all made possible in the extended reality (XR) realm. This is what software
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Xpon’s MarTech products result in new clients and greater margins, new board to helm growth
As artificial intelligence (AI) becomes central to most industries, AI marketing tech company Xpon Technologies (ASX: XPN) is ensuring it finds its place in the spotlight. To do so, the Company – which integrates data and AI to automate marketing processes – has onboarded new board members and clients. In Q3 FY24, Xpon’s MarTech revenue
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Toys‘R’Us initiates restructuring efforts, eyes UK market exit growth and share consolidation
Toys retailer Toys‘R’Us (ASX: TOY) has announced strategic initiatives to streamline operations and enhance market presence. The move comes as the Company seeks to address challenges within the UK market by exiting it and positioning itself for growth. One aspect of the Australia-licenced entity’s restructuring plan is a proposed 10:1 Share Capital Consolidation. This move
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Dubber shares resume trading with $26m still unaccounted for, CEO sacked and capital raise
Call recording software company Dubber (ASX: DUB) is returning to the ASX after an inconsistency in funds came to light and its CEO Steve McGovern was fired following an investigation into $26.6 million worth of funds being unaccounted for. On February 27, 2024, Dubber’s board reported potential misuse of Company funds intended for a term
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Firebrick’s nasal hygiene spray launched in the US without FDA approvals
Pharmaceutical company Firebrick Pharma (ASX: FRE)’s Nasodine Nasal Spray has been launched in the United States and can now be purchased from the Company’s US website with online promotions will commencing this week across the US. In the US, Nasodine will be promoted for ‘nasal hygiene’ without any therapeutic claims. Based on legal advice obtained
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Zip earnings jump thanks to US uptake, signs on new merchants, Temu and JB Hi-Fi too
Aussies spend billions on buy now, pay later, which allows them to spread across their payments without losing out on a big sum in one fell swoop. What’s more, it cushions the blow of rising interest rates. The US is witnessing a similar trend. This has brought financial services like Zip (ASX: ZIP) into the
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Macmahon to acquire Decmil group for $47 million to expand civil business
Mining services provider Macmahon Holdings Limited (ASX: MAH) is gearing up to acquire Western Australia-based construction company Decmil Group (ASX: DCG). The acquisition involves Macmahon purchasing 100% of Decmil’s issued share capital. This acquisition aligns with Macmahon’s strategic focus on achieving continued earnings growth while diversifying into the less capital-intensive civil infrastructure business. The transaction
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Coventry Group to acquire Steelmasters for $42.1 million, set to boost revenue and portfolio
Industrial supplies company Coventry Group (ASX: CYG) is all set to acquire 100% of the shares of Steel Masters Auckland, or Steelmasters Group, a supplier of industrial and specialty fasteners. The acquisition will include subsidiaries Galvmasters, Profast and Boltmasters. It will be funded with a combination of debt through a new NAB debt facility and
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De.mem plans global expansion with NSF certification for water treatment tech
International water and wastewater treatment company De.mem (ASX: DEM) has passed the US-based testing organisation National Sanitation Foundation’s (NSF) test procedures under NSF Standard 53, setting the foundation for a global push with its new certification. The NSF tested and approved De.mem’s Graphene Oxide enhanced (GO) membrane technology for water treatment and the certification process
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Top Shelf secured $5m from sale of Whitsundays agave farmland for debt reduction
Australian spirits producer and distributor Top Shelf International (ASX: TSI) has executed a binding term sheet for a $5 million sale and leaseback transaction of the farmland and structural improvement assets at the Company’s agave farm in Eden Lassie, Queensland’s Whitsundays region. The agreement does not cover the farm’s distillery plant and equipment assets or
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Hit the Butn: B2B lender sees platform growth with rise in new SME registrations
There are over two million small and medium-sized businesses peppered across Australia, making up over 97% of all businesses in the country. However, many struggle to survive primarily because of cash flow issues. That’s where B2B funder Butn (ASX: BTN) comes in, helping SMEs manage their finances. In Q3 FY24, ending March 2024, the Company
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Genetic Technologies to pilot GeneType in US breast screening centres
Molecular diagnostics company Genetic Technologies (ASX: GTG) is piloting its risk assessment test geneType in breast screening centres across the US. The Company is establishing a clinical implementation study with breast imaging centres in New York, Miami and Houston. In the US, screening is currently between the ages of 40 and 74. So, the current
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SciDev to provide water treatment solutions to Ventia in $2m revenue opportunity
Water tech company SciDev Limited (ASX: SDV) has been engaged by infrastructure services provider Ventia to undertake water treatment services in Victoria. The Company will supply a Build Own Operate (BOO) temporary water treatment plant in Victoria to treat PFAS-contaminated surface water. The contract’s initial revenue value is approximately $2 million, which is anticipated to
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RocketDNA deploys first batch of xBots for Australia and Africa, second batch scheduled
Global drones-as-a-service provider RocketDNA (ASX: RKT) recently launched a new autonomous drone solution, xBot, expected to surpass its existing drone business in revenue. In December 2023, the Company raised approximately $1 million to accelerate the manufacturing of xBot units and increase marketing capabilities around deployment. It has successfully launched and deployed the first batch of
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Melodiol’s Health House Australia enlists supplier, prepares for the launch of a medical cannabis clinic
Over the past several months, medical cannabis company Melodiol Global Health’s (ASX: ME1) subsidiary Health House Australia has been gearing up for the launch of its medicinal cannabis clinic. After significant internal analysis and planning, Health House Australia expects the Health House Wellness Clinic to be operational in Q2 of CY24. The Health House Wellness
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Preclinical data indicates Patrys’s therapeutic safely reduces inflammation in autoimmune disease
Melbourne-based therapeutic antibody development company Patrys (ASX: PAB) unveiled positive findings from preclinical studies using PAT-DX1 and PAT-DX3 in animal anti-neutrophil cytoplasmic antibody (ANCA) vasculitis models. Dr Kim O’Sullivan from Monash University presented the findings during the plenary session at the 21st International Vasculitis Workshop in Barcelona. He said, “Both PAT-DX1 and PAT-DX3 are able
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Viva Leisure enters Northern Territory with $5.2m gym acquisition and its 5,000 members
Australia has seen a steady rise in gyms and fitness centers in line with the growing interest among gym goers. Millions of Gen-Z and millennial Aussies have been signing up for gym memberships to reinvent their lifestyle. This has proven to be fertile ground for fitness businesses to thrive. Recently, health and fitness clubs provider
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Qoria rejects acquisition proposal from US private investment firm K1, cites undervaluation
Australian cyber safety company Qoria (ASX: QOR) has promptly rejected an unsolicited acquisition proposal from US-based private investment firm K1 Investment Management. The conditional and non-binding offer is to acquire 100% of Qoria’s issued share capital for $0.40 cash per Qoria share through a scheme of arrangement. The Indicative Proposal was subject to conditions including
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Chimeric Therapeutics granted US patent for its blood cancer technology
The United States Patent and Trademark Office (USPTO) has recently granted a patent to Australia-based clinical-stage cell therapy company Chimeric Therapeutics (ASX: CHM) for its CHM 0201 (CORE-NK) technology, which targets blood cancers and solid tumours. The technology is used in the production of Chimeric’s clinical-stage universal NK cell asset CHM 0201, as well as
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RooLife signs deal with China eCommerce company Fujian Jushi to sell portfolio
Food and wellness eCommerce company RooLife Group (ASX: RLG) has executed a binding term sheet agreement with Fujian Jushi Supply Chain Management, a China-based eCommerce and supply chain business. Fujian Jushi will market and sell RooLife’s portfolio of products and other requested products it orders from the Company. Per the agreement, Fujian Jushi Supply Chain
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Environmental Clean Tech and ESG team up to develop affordable soil health products
The agricultural sector is facing significant challenges—from rising costs of traditional fertilisers and declining soil health to the impacts of climate change. In response, CleanTech company Environmental Clean Technologies (ASX: ECT) and ESG Agriculture are coming together to meet market demand by providing affordable fertilisers that support soil and crop health while enhancing carbon levels
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Mighty Craft signs deal to sell Mismatch and 78 Degrees for $7.2m
Battling massive debt, craft beverage accelerator Mighty Craft (ASX: MCL) has been on a mission to divest its businesses to stay afloat. In keeping with that, the Company has signed a deal to sell the assets linked to Mismatch Brewing Company and The Hills Distillery (78 Degrees) to a third-party buyer, led by a consortium
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IXUP lands commercial partnership with US Integrity to regulate sports betting in America
The US’s sports betting landscape is under the scanner right now as one of its biggest athletes, Shohei Ohtani, tries to unravel himself from a sports betting scandal just months after signing a USD $700 million contract. The ongoing investigation is centred on a $6.9 million transaction from his bank account to an illicit betting
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OpenLearning to boost student acquisition with three online education marketplaces acquired
In Australia, enrolments in Higher Education have seen a 10% surge compared to 2019, driven by a surge in international students. In fact, about one in 40 Aussies is on a student or graduate visa. The demand is set to continue, putting the spotlight on online education marketplaces. AI-powered SaaS learning platform OpenLearning (ASX: OLL)
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Cogstate buys back exclusive rights to its brain health testing tech from Eisai
Neuroscience tech company Cogstate (ASX: CGS) has re-acquired the global rights to its technology previously exclusively licensed to Japanese pharma company and its global commercial partner, Eisai. The agreement excludes Japan and will come into effect on April 1, 2024. This marks an amendment to the duo’s 2020 agreement, which includes exclusivity across a few
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Amid dwindling cash reserves, Envirosuite integrates EVS Water products
Parched for better financials going ahead, environmental intelligence technology company Envirosuite Limited (ASX: EVS) has announced that its EVS Water products will join the EVS Industrial portfolio. This decision follows EVS Water’s maturity milestone and the go-to-market and product synergies seen with the EVS Industrial portfolio, demonstrated through recent cross-sell wins and success in B2B
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Amplia reports results from initial clinical trials of pancreatic cancer drug
Australian pharmaceutical company Amplia Therapeutics (ASX: ATX) is conducting a clinical trial—the ACCENT trial—for pancreatic cancer. The trial will test a new drug called narmafotinib in combination with standard chemotherapy. Narmafotinib targets a protein called FAK (Focal Adhesion Kinase), which is becoming a hot area of research in cancer treatment. Amplia’s drug aims to make
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Osteopore wins Singapore and Vietnam market approvals to sell ortho products
Over 10% of Singaporean adults suffer from knee osteoarthritis, a progressive joint ailment, with a notable rise in cases among individuals aged 40 to 60. As per the Singapore General Hospital (SGH), knee preservation surgeries have doubled from 50 cases in 2020 to about 100 cases in 2021. Similarly, Vietnam experiences a surge in demand
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The Royal Netherlands Army places $1.2m order for Titomic’s D523 to aid Ukraine
Melbourne-based cold spray solutions provider Titomic (ASX: TTT) has gotten its largest D523 order yet from the land branch of the Royal Netherlands Army, Koninklijke Landmacht. The Royal Netherlands Army intends to dispatch nine of these systems to Ukraine to aid in the country’s war efforts. The order, valued at approximately $1.28 million, comprises 10
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Veris leads consortium to become Digital Twin Victoria Innovation Partner, eyes more States
Spatial data services provider Veris (ASX: VRS) has successfully led a consortium to be appointed as a Digital Twin Victoria (DTV) Innovation Partner for the next three years. The 10-member consortium bested some top-tier global consulting firms to gain the top spot in a highly competitive field. Digital Twin Victoria (DTV) is a Victorian government-funded
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Archer Materials teams up with EPFL to build precision microsensors
Australian semiconductor company Archer Materials (ASX: AXE) has joined forces with Switzerland’s research institute École Polytechnique Fédérale de Lausanne (EPFL) to build a microchip aimed at revolutionising the study of quantum materials. The chip’s features open potential opportunities for Archer to develop quantum sensors, miniaturised spectrometers, and analytical devices for precision sensing. This new chip,
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Xref adds graduate qualification checks and background checks to newly launched Trust Marketplace
Global HR tech platform Xref (ASX: XF1) is on its way to launching an Avengers-esque background-checking platform complete with multiple services. The Company has already introduced its graduate Qualification Verification checks and Certn checks for working professionals, which were introduced after the rollout of Trust Marketplace on Xref’s Enterprise Platform. Trust Marketplace, now integrated into
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Field Solutions locks in first five-year Tas government contract worth $1.3m
Aussie rural telecom provider Field Solutions Holdings (ASX: FSG) has secured a new contract with Networking Tasmania. This five-year agreement, valued at $1.3 million, marks FSG’s first win under a new Standing Offer Arrangement (SOA) with the Tasmanian government agency. The contract signifies a major step for FSG in Tasmania. It will be supplying critical
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BlueBet scores first US sportsbook deal with Green Savoree Mid-Ohio
Online wagering company BlueBet Holdings (ASX: BBT) has inked its first-ever US business-to-business (B2B) sportsbook agreement with road course auto racing facility Green Savoree Mid-Ohio. Pending regulatory approvals, this deal paves the way for the launch of an online sportsbook in Ohio. The initial five-year agreement will include BlueBet receiving annual fees based on a
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Toys‘R’Us to acquire key assets of arts and crafts business RIOT for $597k
E-commerce toy retailer Toys‘R’Us (ASX: TOY) is expanding its portfolio by acquiring the key assets of RIOT, a 50-year-old arts and crafts retail brand. TOY will acquire intellectual property assets (domain names, business names, trademarks) and stock on hand. The Company plans to combine the RIOT assets with its existing operations to achieve efficiencies through
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Adacel receives $10.2m order for training simulations from Federal Aviation Administration
After a troubling half complete with delays, losses and adjusted forecasts, Adacel Technologies (ASX: ADA), a company providing advanced air traffic management and air traffic control simulation solutions, has secured a new contract from its existing customer, the US-based Federal Aviation Administration (FAA). This infuses confidence in the Company, which is attempting a return to
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Softer infant formula demand in Middle East, China and EU squeeze Clover’s profits
In 2023, global birth rates dipped by 1.15% per 1000 people, with significant declines noted in the EU (5.9%) and China (2.3%), extending a five-year trend. Consequently, all stages of infant formula production, from birth to growing milk, have declined. As a result, Clover Corporation (ASX: CLV), an Aussie tech company specialising in infant formula
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Universal Biosensors receives FDA approval for its blood coagulation device
Aussie biosensor company Universal Biosensors (ASX: UBI) has received the US FDA 510(k) and CLIA Waiver approval for its Xprecia Prime Coagulation Analyzer as a Class II device. Xprecia Prime is a portable coagulation monitoring device that provides fast and accurate PT/INR testing (measuring how long it takes for blood to clot) specifically for patients
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Pentanet teams up with NVIDIA to expand global graphics delivery network
Perth-based telco company Pentanet Limited (ASX: 5GG) has collaborated with NVIDIA to upgrade its cloud infrastructure. Integrating NVIDIA L40 GPUs into Pentanet’s Gen 3 cloud infrastructure has enabled the company to join NVIDIA’s Graphics Delivery Network (GDN), extending its reach to over 130 countries. The move to join NVIDIA GDN signifies Pentanet’s intention to broaden
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Vitura’s Cortexa becomes first Aus company to supply ecstasy and magic mushrooms under TGA’s prescriber scheme
In July last year, Australia became the first country to legalise ecstasy (MDMA) and magic mushrooms (psilocybin) for mental health disorders, including PTSD and depression. A bold move, it spurred medical businesses into action, seeking the proper approvals and getting the early advantage. At the same time, not all medical professionals were so thrilled, citing
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dorsaVi’s movement tracking platform can now track facial features
While facial recognition continues to fall in and out of favour with the everyday Aussie, measuring privacy concerns against functionalities, AI product developers like dorsaVi (ASX: DVL) have carried on, creating niche AI products that could be worth their salt. The Company, which develops FDA-approved wearable sensors and specialises in human movement analytics, has integrated
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Eureka dismisses takeover offer, citing undervaluation and growth opportunity for affordable housing development
Affordable accommodation developer Eureka Group (ASX: EGH) is not pleased with peer Aspen Group’s (ASX: APZ) bid to acquire the Company, dismissing the proposal as undervalued after Aspen’s offer aimed to merge the two entities into its $500 million property conglomerate. This follows a review by the Eureka Board of Aspen’s Bidder’s Statement, filed on
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Innodata pulls bid after Appen is forced to breach confidential details to ASX
After having its contract with Google terminated, artificial intelligence company Appen (ASX: APX) has been kicked while down after getting trapped between rock and hard place, with leading data company Innodata to withdraw its takeover bid, citing a confidentiality breach. On March 12, 2024, Appen received a letter from the ASX inquiring about its price
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Forbidden Foods inks deal with Edenvale Food to boost production of snack bars and cut costs
Battling erratic supply, lost sales and high costs from manufacturers, health and wellness food company Forbidden Foods (ASX: FFF), known for its protein bars, has had to change tact to reduce losses. The Melbourne-based company has signed a non-exclusive agreement with Edenvale Foods to manufacture its Blue Dinosaur snack bars and support the development of
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LBT’s APAS PharmaQC product using AI for microbiology now commercially ready
In the world of science, getting accurate and consistent results is key. Thanks to artificial intelligence and automation advancements, achieving this is now easier than ever. Take, for example, the APAS® PharmaQC product from Australian MedTech company LBT Innovations (ASX: LBT). Using AI technology, microbiologists can analyse multiple culture plates. By removing the variability often
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Parkway bids for profitability, acquires Tankweld for $2.6m
Aussie cleantech company Parkway (ASX: PWN), which builds water treatment solutions, has acquired Tankweld Group, comprising the Tankweld Engineering Service and Tankweld Installations divisions. The $2.6 million acquisition of Tankweld Group has major benefits for Parkway. First, the Company now has greater project execution capabilities, which helps in technology commercialisation. Second, the acquisition improves Parkway’s
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Adamantem tags in with competing bid with Rouse in fight to acquire QANTM
Since last month, intellectual property services provider QANTM (ASX: QIP) has come into the spotlight following strong H1 FY24 results. So much so that it caught the eye of three companies wanting to acquire it. QANTM capitalises on the growth of the broader intellectual property rights industry. Australian businesses with IP rights account for around
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Archer Materials reduces size of biochip gFET chip by 97%
Semiconductor company Archer Materials (ASX: AXE) has achieved a major milestone in its Biochip technology development by significantly reducing the size of its gFET (graphene field-effect transistor) chip. This achievement resulted from redesigning the circuit layouts, leading to a substantial decrease in chip size that has the potential to increase its utility in medical diagnostics.
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Magic mushrooms company Tryp prepares for ASX listing via $14.3m backdoor merger with Exopharm
Canadian biotech company Tryp Therapeutics (CSE: TRYP) is set to list on the ASX through a backdoor merger with genetic medicines developer Exopharm (ASX: EX1) in a $14.3 million acquisition agreement. Following this agreement, Exopharm will change its name to Tryp and re-list on the ASX. On completion of the Transaction (Completion), Exopharm will be
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How Algorae is using AI and supercomputers to transform medicine
The conversations surrounding artificial intelligence (AI) and its scope to transform the pharma industry have been underway for a while now. In fact, reports suggest that the global health-related AI market is set to be worth $284bn by 2030. Pharmaceutical development company Algorae (ASX: 1AI) is one of the companies at the forefront of this
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Can cannabis cure insomnia? Avecho gets ethics approval to test in Phase 3 trials
For many, a bad night’s sleep can be chalked up to a late night out, stress and such. However, multiple nights of restless sleep could mean something more. Insomnia is among the two most common sleep disorders in Australia, with the second being obstructive sleep apnea. About 60% of Aussies display symptoms of insomnia. With
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Tourism Holding divests share in Camplify due to lack of return on funds
On the heels of a mixed recreational vehicles (RVs) market, global tourism operator Tourism Holdings Limited (ASX: THL) has finalised the sale of its 14.14% stake in Camplify Holdings Limited (ASX: CHL), a peer-to-peer RV rental operator. The sale, based on a per-share price of $1.90, fetched approximately $19.2 million in gross proceeds for thl.
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Atomo’s HIV self-test kits head to low income countries with $970k Viatris order
Medical device company Atomo Diagnostics (ASX: AT1) has locked in purchase orders from Viatris Healthcare Pty Ltd amounting to approximately $970,000 for HIV Self-Tests. These tests, manufactured by Atomo under the Mylan brand, are designated for supply to several Low- and Middle-Income Countries (LMICs). The orders are scheduled for production during the second half of
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Zoono and OSY team up to tackle food waste in exclusive agreement
Despite global efforts, food waste remains a challenging problem to solve. Each year, 1.3 billion tons of food is wasted due to poor handling, costing the global economy $1.5 trillion. This waste contributes 6-8% of annual greenhouse gas emissions and, what’s more, if saved, it could have fed about 1.26 billion people. No doubt, food
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Cynata recruits first patient for Phase 2 trial of stem cells for graft vs host disease
Aussie clinical stage biotech company Cynata Therapeutics (ASX: CYP) has marked a milestone in its Phase 2 clinical trial of CYP-001 for high-risk acute graft versus host disease (aGvHD) with the enrolment and treatment of its first patient. High-risk acute graft versus host disease (aGvHD) is a serious complication that can occur after a stem
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Cost reductions, new management and more: Jayride’s strategic review brings hope
Online travel aggregator Jayride (ASX: JAY) had little choice but to undertake a comprehensive strategic review following dwindling profit margins. In November 2023, during a Shareholder Address, Chairman Rod Cuthbert acknowledged the pit, or “challenging position”, the Company was in. Founded in 2012, Jayride aggregates ride service companies and distributes them to travellers at Jayride.com,
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FBR and Liebherr sign a maintenance agreement for the Hadrian X robot before its US debut
Instead of toiling away in the sun, rain and hail, construction workers will soon be able to catch a break as the bricklaying robot Hadrian X paves its way to commercialisation. Robotics tech company FBR (ASX: FBR) has announced its collaboration with manufacturing company Liebherr USA Co. in Miami, Florida. Liebherr’s facilities will serve as
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From Families to Funerals: AF Legal to acquire will disputes division of Armstrong Legal for $3.7m
Australian law firm AF Legal (ASX: AFL), which specialises in family and relationship law, is all set to acquire the contested wills and estates practice of Go To Court Lawyers Pty Ltd (GTC), trading as Armstrong Legal, for a sum of $3.7 million. This move comes amidst a backdrop of increasing intergenerational wealth transfers and
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Capitol Health pulls the plug on unprofitable sites, focuses on larger clinics and acquisitions
In Australia, the landscape of diagnostic imaging is evolving rapidly, especially in response to the needs of an ageing population. With Medicare expanding its coverage of diagnostic imaging items, there’s a newfound impetus for individuals to prioritise early detection and preventative healthcare measures, ushering in a promising era of proactive health management. In keeping with
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Aussies look for simple online tax return systems, One Click’s revenue surges
Most Australians onboard a tax agent to lodge their tax returns—it’s simpler and enables them to maximise their returns. But that’s not the only reason they avoid taking the digital route. There’s also the perception that filing tax returns online is complicated. To address that, FinTech platform One Click Group (ASX: 1CG) has used every
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Next Science sees wound care sales quadruple, boosts investment in direct sales
Sydney-based MedTech company Next Science (ASX: NXS) has reported a bumper result with its annual sales, reaching $33.7 million, a 90% increase compared to the previous year. This surge is primarily attributed to the expansion in the Wound Care and Surgical segments, driven by a strategic focus on direct sales and the successful implementation of
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Fleetwood returns to profitability, boosted by buildings and communities
Amid Australia’s housing crisis, people’s ambitious plans to set up and expand their businesses have anything but halted. Thanks to the anticipated demand from the post-pandemic population growth, construction and building companies like Fleetwood (ASX: FWD) are winning big. In H1 FY24, Fleetwood recorded a net profit after tax (NPAT) of $3.9 million following an
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City Chic sees sharp revenue fall amid dwindling consumer confidence
Plus-size clothing retailer City Chic (ASX: CCX) has posted a 29% revenue decline for H1 FY24, citing inflationary pressures. Dwindling consumer confidence caused the Company’s sales revenue to drop to $105.8 million compared to H1 FY23’s $149.9 million. Online sales also remained challenging, but there were signs of improvement in stores during Q2. Going by
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Revenue increases, occupancy remains flat: G8 carries on with divestments and fee hikes in CY24
After increasing fees following an uptick in childcare subsidies for parents and reducing wages, early childhood care provider G8 Education (ASX: GEM) ended CY23 on a high. The Company reported a 9.1% increase in revenue, reaching $983.4 million, alongside a 53.1% rise in Statutory NPAT to $56.1 million compared to CY22. This growth was primarily
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Auswide Bank sees NPAT decline by over 45% in the face of tough competition
From being a building society—offering financial services like loans and mortgages—to being an Aussie-owned bank, Auswide Bank (ASX: ABA) hasn’t had an easy rise up to take on the Big Four with intense competition on the home loans and deposit fronts. Auswide Bank reported a 45.7% decrease in its Statutory NPAT to $7.6 million amidst
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No discount? No deal: Value-oriented customers leave Adairs in the lurch
Who doesn’t love a discount? The amount of nods to this question has increased over the past year thanks to rising prices and inflation. It’s no wonder then that luxury retailers like Adairs are not gaining consumers’ favour. In the first half of FY24, household retailer Adairs (ASX: ADH), like many others, dealt with reduced
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Devastating storms and cancellations see Coast Entertainment’s earnings decline
With a new name, attractions and spirit, theme parks and entertainment company Coast Entertainment Holdings (ASX: CEH) has kicked off life to shed baggage of yesteryear dramas but not even a surge in ticket sales was able to offset losses incurred from storm damage to its attractions. A class action lawsuit (costing the Company about
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LaserBond expands into Western Australia with strategic investment into Gateway Parts and Services
Perth-based equipment parts and servicing business Gateway Group has been partially acquired by surface engineering company LaserBond (ASX: LBL) in a move that strengthens the Company’s presence in Western Australia and opens doors to new market segments. The acquisition, valued at 4.5 times Gateway’s EBITDA, involves a mix of cash and scrip. LaserBond will initially
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In-store theft rises as The Reject Shop cites the impact of shrinkage on margins
At a time when about half of younger Aussies are spending over 50% of their income on rent, the affordability crisis is magnified. It’s no wonder then that discount store chains like The Reject Shop (ASX: TRS) are gaining consumers’ favour. The Reject Shop is a merchandise-led business that collects cancelled orders, overproduced products and
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Lark Distilling gears up to enter Singapore, Indonesia and more Asian regions
Due to inflation and rising costs, consumers tightened their belts, leaving their liquor glasses half-full and wallets fuller. It so appears, the domestic glasses will remain half empty for a while, with luxury whisky and liquor company Lark Distilling (ASX: LRK) still reeling under the economic hangover. In H1 FY24, Lark’s net sales revenue was
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Strong demand for leisure travel in Aus and NZ drives Helloworld’s revenue doubles and earnings return
Coming off the summer break, Australia and New Zealand-based travel distribution company Helloworld Travel (ASX: HLO) reported strong financial results for the first half of FY24, driven by growing demand for leisure travel. The Company’s earnings surged to $34 million, marking a 117.7% increase from the previous corresponding period’s $15.6 million, while Total Transaction Values
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Lower customer spending affecting lottery uptake, says The Lottery Corp
How much would you be willing to spend to test your luck? While the cost of a Powerball lottery ticket might not be much—ranging between $6 and $31 (or more, depending on the game type), Aussies collectively spend billions on lottery tickets. However, for consumers, affording the luck of the draw has been paling in
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Labour shortages and cost inflation slug Integral Diagnostics, hopes for better second half than first
Australia’s labour shortage struggles are far from over, continuing to impact companies like diagnostic imaging services provider Integral Diagnostics (ASX: IDX). This impact was reflected in its mixed results for the first half of FY24. Integral Diagnostics is an Australia and New Zealand-based medical diagnostics company offering radiology services—from X-rays and CT scans to ultrasounds,
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A hot winter not great for KMD Brands with poor Kathmandu sales delivering a disappointing result
At the start of a year, many of us pledge to make massive improvements to our lives—spending less on unnecessary things, cooking more, working harder and such. Typically, around halfway, we call it quits and get on with our lives as they were. Then comes the guilt, the resentment, and the new year with new
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Victor Group invests $2m in FinTech company LIT, eyes Southeast Asia expansion
Cloud-enabled smart education platform operator Victor Group Holdings (ASX: VIG) has entered into a strategic investment agreement to acquire a 25% ownership stake in LIT Technology Pty Ltd for $2 million. This marks its transition from being an exclusively e-learning platform to dipping its toes in buy now, pay later and FinTech at large. This
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More sites under management, Smart Parking sees revenue surge by 20%
After seeing a major uptick in its share price over the past year, parking tech company Smart Parking (ASX: SPZ) attributed its growth to the strategic expansion of its managed sites, pointing to a promising trajectory for the Company. For the Half Year ended 31 December 2023, Smart Parking revealed a 20% increase in revenue
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Abacus Storage King reports nine acquisitions in H1 FY24 in bid to assert self-storage dominance
Owing to frequent supply chain bottlenecks and a surge in online retail, the importance of self-storage units spread across a region has come to the forefront. This is true for both companies as well as consumers who have accumulated goods or are planning a big house move. At such a time, self-storage operation platforms like
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Seven West Media to invest over $9m in Mad Paws to boost reach via ads
Pet sitting and online pet services company Mad Paws (ASX: MPA) has received a strategic investment of up to $9.25 million from the media house Seven West Media (ASX: SWM). This investment comprises $5.25 million in the initial tranche, including $1.25 million in cash and advertising equivalent to $4 million. This investment will help boost
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Aussie real estate market signals return to growth with Domain revenue up 11%
Rounding up the first half of FY24, digital real estate portal Domain (ASX: DHG) was relieved to find a positive environment in Sydney and Melbourne, with early signs of improvement in smaller markets. As buyers dealt with higher interest rates and cost of living, demand continued to soar, benefitting real estate companies. Domain reported a
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Seek maintains revenue ambitions despite businesses finding cheaper alternatives to job advertising
It is not just a tough environment for job seekers but also for job portals like SEEK (ASX: SEK), which are grappling with lowered ad revenue. In H1 FY24, SEEK reported a 5% decline in revenue compared to H1 FY23, totaling $596.8 million. EBITDA saw an 11% decline to $252.9 million, while net profit after
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Seven revenue and profits continue decline as Aussies streaming services pinch eyeballs and advertising demand
As more Aussies turn to streaming services, traditional TV networks like Seven West Media (ASX: SWM) are facing tough times. Less people are watching TV, which means less money spent on ads, hitting Seven’s finances hard. Last year, Australian TV ads dropped by 8%, while the total TV market declined by 9%, reflecting the trend
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Cheaper pap smears for Saudi women as TruScreen gets reimbursement approval from insurers
In a much-needed and laudable development for women’s healthcare in Saudi Arabia, medical devices company TruScreen’s (ASX: TRU) distributor, Bettalife, has successfully obtained reimbursement approval from the majority of private health insurance companies in the country. With reimbursement in place, women who are insured and opt for TruScreen over the conventional Pap Smear will receive
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Appen announces a plan for a Google-less FY24 and beyond
After losing a major customer contract with Google, machine intelligence and data company Appen (ASX: APX) has been taking proactive steps to address its financial impact. On January 20, 2024, Appen received notice from Google LLC that, as part of a strategic review process, Google would be terminating its global inbound services contract with Appen.
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Nido secures $67m debt facility to boost acquisitions as ACCC cracks down on misuse of childcare subsidies
In the face of a mounting affordability crisis, childcare operators are being scrutinised for potentially exploiting government-mandated relief meant for struggling parents. However, regulatory changes could soon put an end to this. A parliamentary inquiry is set to delve into concerns about childcare centres hiking fees whenever subsidies increase. This move comes as Australian parents
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Genus wins $40m project to develop solar farm and substation on Queensland crown land
National essential power and communications infrastructure provider GenusPlus (ASX: GNP) has secured a $40 million contract from ACCIONA Energia for the design and construction of the Substation Works for the Aldoga Solar Farm project in Queensland. The development of the Aldoga Solar Farm and its 275kV Substation (for electrical generation and distribution) represents a significant
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REA reports 18% revenue growth despite housing market volatility, expects slower second half
Despite the ongoing volatility in the real estate market (if you’ve been house hunting, you already know), digital property group REA Group (ASX: REA) has shown strong results in H1 FY24, driven by greater demand and higher prices. Compared to H1 FY23, the Company saw an 18% surge in revenue to $726 million, coupled with
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Cettire plans China entry after reporting strongest half year result
Luxury retail platform Cettire (ASX: CTT) is coming off a pretty successful first half FY24—a remarkable feat at a time when luxury spending has taken a backseat. The Company saw a major uptick in gross revenue, reaching $460.5 million, a 90% increase compared to the previous corresponding period. Sales revenue also soared to $354.3 million,
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Is beer a thing of the past? Good Drinks Australia says it’s getting there
Are you no longer reaching out for pints when you head out? You’re not alone. The cost-of-living crisis has hit the beer, and companies like independent brewers Good Drinks Australia (ASX: GDA) are having to navigate the new consumer sentiment. In fact, reports suggest that Aussies are slowing down their alcohol intake altogether, with more
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Janison inks $45m deal with NSW Department of Education to deliver computer-based testing
Aussie EdTech company Janison Education Group (ASX: JAN) has clinched a major deal with the NSW Department of Education and Cambridge University Press & Assessment. The partnership aims to modernise the state’s selective education placement tests by leveraging Janison’s digital assessment platform. The agreement—which is the outcome of a competitive tender process—designates Janison to handle
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Taking AdVantage: BetMakers and PA Betting join forces to introduce global wagering platform
Wagering tech company BetMakers Technology (ASX: BET) has unveiled a five-year partnership with PA Betting Services, a division of the UK-based PA Media Group. The duo is gearing up to launch a broadcast streaming and wagering platform for intended distribution into world racing markets. The platform, dubbed “The AdVantage Platform”, will combine the latest wagering
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New campuses, courses and strategies: NextEd gears up for increased international student intake in 2024
Australian tertiary education provider NextEd Group (ASX: NXD) is all set up for the new student intake season. It has secured regulatory accreditation for three new vocational healthcare courses—aged care, individual support, and community services—to cater to international students. With marketing efforts in full swing, targeting English language students and using recruitment agency networks, the
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MCS Services shifts focus to national clients, plans sale of regional security company for $3 million
Security and traffic services provider MCS Services (ASX: MSG) has entered into a conditional agreement to sell its security business for a cash consideration of $3 million to Vibrant Services. MCS Security Group is the Company’s wholly-owned subsidiary and a leading supplier of security services at commercial property sites and retail shopping centres, principally in
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Pentanet reports 7% revenue growth in H1, looks to control churn rate
When 5G tech was introduced, Australia became the first country in the southern hemisphere to adopt it. Around four in five Australians have access to 5G already and by 2025, 95% are set to have 5G coverage. Companies like Perth-based telecommunication and gaming company, Pentanet (ASX: 5GG) are at the forefront of this adoption. In
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Nanoveu receives two orders from South Korean company, demonstrates tech in the US
Deloitte’s report on the fourth industrial revolution revealed that 44% of Chief Experience Officers expect a significant impact from nanotechnology on their organisations. These impacts could be across a range of industries from healthcare to entertainment. For instance, ever wondered how cool it would be if you could convert the videos on your phone into
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Thrive Tribe adds new features to Instagram-like wellness app to improve user experience
Sydney-based HR and wellness company Thrive Tribe Technology (ASX: 1TT) has been driving the development of its Sixty app in Q2 FY24. Besides improving existing features, like user-friendly dashboards and a convenient storage library, efforts have been focused on expanding the Sixty platform to elevate the overall user experience. Last year, Thrive Tribe went full
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Fluence halts Israel operations, posts best quarter performance in Q4 CY23
After zooming out and reviewing the Company’s strategic moves, wastewater solutions company Fluence (ASX: FLC) took a new approach to CY23, highlighting new products and strategic realignments. And the results seem to be returning a major thumbs up. Q4 CY23 marked Fluence’s strongest financial and operational quarter of the year. The quarter saw revenues of
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New products, new partnerships: EZZ sees sales growth in Q2 FY24
Genomic life science company EZZ Life Science Holdings Limited (ASX: EZZ) has demonstrated strong financial performance in the second quarter of FY24, with a focus on key health challenges and strategic expansions. EZZ closed Q2 FY24 with $13.6 million in cash inflows from customers, marking a 57% increase from the same quarter last year and
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Archer Materials primed to deliver on chip tech milestones and manufacturing runs
If you’re somewhat versed in the tech world, you have probably heard terms like semiconductors, quantum computing and bioelectronics, and their potential to change the world. While some companies might suggest that these have a long way to go before they are usable by the layman, Archer Materials is readying to inject them into our
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Renewed online focus proves profitable for Mosaic, sees 50% NPAT growth in H1 FY24
Even as discretionary spending takes a hit, fashion retail company Mosaic Brands (ASX: MOZ) has come out strong, ending the first half of FY24 with a 50% increase in its Net Profit After Tax (NPAT) on PCP. As per its recently released unaudited trading update, the Company expects to report an approximate NPAT of $5.9
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BlueBet has launched in Louisiana, responds to merger speculations
In a major stride towards its ‘Capital Lite’ US market entry strategy, mobile-first online wagering provider BlueBet Holdings (ASX: BBT) said that its wholly-owned subsidiary, BlueBet Louisiana LLC is now licensed to operate in Louisiana. Under the ClutchBet B2C brand, the subsidiary has already accepted its first wagers, marking Louisiana as the third US state
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HIV, Covid and pregnancy tests drive Atomo revenue growth in Q2 FY24
Aussie medical device company Atomo Diagnostics (ASX: AT1), which provides rapid diagnostic tests, witnessed strong growth in revenue and margins across its business ventures, especially its HIV Self-Test business. Thanks to improved awareness and accessibility, the self-test sold over 130,000 units in Q2 FY24, ending December 2023. The sales were primarily in high-value developed markets
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SEEK’s Certsy teams up with Xref to simplify reference checks in hiring processes
Job hunting is a painful process. From the time you send in your application to when you hear back for an interview, provide references and sign the official contract—it could take months. It’s a frustrating process that some employment portals are aiming to simplify and, most importantly, speed up. Certsy, a SEEK (ASX: SEK)-owned credential
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US-based Devo to incorporate Prophecy’s cybersecurity solution to boost threat detection
In a move to enhance threat detection capabilities, Devo Technology, a US-based security data analytics company, is set to integrate Snare, the cybersecurity solution from business software developer Prophecy International Holdings (ASX: PRO). The collaboration aims to offer accelerated threat detection and response, strengthening the global cybersecurity landscape. With the global cybersecurity market projected to
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Respiri and Echo IQ team up to expand into the US with heart disease detection and remote post-consultation care
AI and medical technology firm Echo IQ Limited (ASX: EIQ) has inked a commercial licensing agreement with respiratory health MedTech company Respiri Limited (ASX: RSH) to incorporate Echo IQ’s EchoSolv cardiovascular decision support into Respiri’s remote patient monitoring (RPM) user base. As per the agreement, Respiri will integrate EchoSolv cardiovascular solutions into its U.S. Remote
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Harvest Tech gets additional orders from prominent Five-Eyes customer, expects more in 2024
Remote tech provider Harvest Technology Group Limited (ASX: HTG) has confirmed the reception of second and third orders for its Nodestream technology, totalling approximately $380k, from a prominent Five-Eyes defence customer. The Five-Eyes alliance includes Australia, New Zealand, the UK, the US, and Canada. Notably, the entire amount has been received upfront, underlining the confidence
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They see me rollin, they lovin: Control Bionics receives $577k grant from the ALS association to develop self-driving wheelchairs
If you thought only cars could be autonomous (hey, Tesla), think again. Medical device company Control Bionics (ASX: CBL) has wheeled the technology into autonomous wheelchairs, ensuring people with Amyotrophic Lateral Sclerosis (ALS)—a motor neuron disease—live a better, “freer” life. In support of that, the Company’s wholly-owned US subsidiary has secured a research grant of
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RocketBoots makes big moves in the UK, locks in four contracts including a Big 4
Customer service software provider for retailers and retail banks, RocketBoots (ASX: ROC) has announced two significant agreements in the UK. The first agreement is with a major retail bank in the UK, part of the prestigious Big 4, while the second is with the Scottish Midland Co-op Society, overseeing around 200 retail grocery stores across
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Broncos scores big: Expects up to 80% profit growth following 2023 audit
Just yesterday, Brisbane Broncos’s captain Adam Reynolds left fans holding their breath as he limped off the field, only to be later cleared of any serious injury. However, the real excitement for Broncos enthusiasts lies off the field, as the NRL team reports an uptick in profit and an array of revenue streams that contributed
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What is Appening? Google terminates contract with Aussie AI without warning
Upon entering January 2024, Google employees likely felt an eerie sense of deja vu as they received emails from their CEO Sundar Pichai, warning them of impending layoffs. Last year, during the same period, Pichai sent out an email informing employees about the “difficult decision” to reduce headcount. Big tech companies have become synonymous with
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Hold your horses for Stake.com has chosen Racing and Sports Tech to take racing global
In what can be considered a massive win, horse racing and wagering company Racing and Sports Technology (ASX: RTH) has bagged the support of global online casino and sportsbook Stake.com—whose sponsorship portfolio includes the likes of Canadian singer Drake and the Stake F1 team, UFC, among others. This partnership will aim to establish racing (and,
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Spectur records highest revenue month in company history in December, reduced debt while swinging deals
Australian-based developer and manufacturer of security, surveillance, warning, environmental monitoring and AI solutions and platforms Spectur (ASX: SP3) disclosed its financial performance for the second quarter of FY24, highlighting notable achievements, including its best revenue month in history, December. For the quarter ended December 31, 2023, Spectur experienced growth in recurring revenue, constituting 63% of
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Michael Hill removes senior management roles, cuts costs following poor 2023 performance
After three years of record results, 2023 finally broke jewellery retailer Michael Hill (ASX: MHJ). Like many Aussies, the Company faced tough retail conditions prompting cost-cutting measures. The fine jewellery brand encountered formidable headwinds due to a bitter cocktail of factors, including the macroeconomic environment impacting consumer sentiment, tough trading conditions, inflated input costs, and
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Seasonal trends give IncentiaPay revenue a boost, retain members and appointment of Chief Growth Officer
Prices have risen across the board, leaving little room for discretionary spending. Any help—gift cards, rewards—is appreciated on that front, allowing platforms like entertainment, lifestyle and rewards platform operator IncentiaPay (ASX: INP) to gain a leg up. In Q2 FY24, when seasonal events like Christmas, Black Friday and more prompted consumers to loosen the wallet
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Novatti payments infrastructure strengthens as expert forecasts Australia to be cashless within years
Australia is accelerating towards becoming a cashless society. The Reserve Bank of Australia (RBA), national banks and financial experts have collectively foreshadowed that the country will be rid of cash in the next couple of years. However, this transition demands the preparedness of a robust digital payments infrastructure which is just one reason investors are
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Mad Paws reports second consecutive quarter of cash flow paws-itivity with revenue crossing $7 million
Aussie pet services company Mad Paws (ASX: MPA) spent over $20 million on product development and operations in H1 FY24. As it edges closer to EBITDA breakeven, the Company ditched excessive marketing spending to focus on data-driven strategies and growth across key brands. In Q2 FY24, Mad Paws saw Group Operating Revenues reach $7.6 million,
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Raiz a glass as micro investment platform reports 23.2% revenue uptick and edges closer to profit
If you recently spotted an ad for the investment app Raiz (ASX: RZI) on TV, know that it’s all part of the Company’s latest brand awareness campaign and you’ve joined its roster of potential customers. In December 2023, Raiz launched the ‘Raiz Your Game’ marketing campaign. By early January 2024, as a result of the
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Dynamic Group acquires Airwell Flow Testing for $2m as revenue continues to rise
Mining company Dynamic Group (ASX: DDB) has entered into a binding agreement to acquire Airwell Flow Testing which is a division of the French fluids management company, Airwell Group. This strategic move is expected to reinforce Dynamic’s position in the water-well industry and tap into the burgeoning flow testing sector, known for its lower capital
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Kinatico’s regtech SaaS pivot proves successful, ups profit to $400k
Workplace compliance—monitoring safety, health and legal aspects of employment—can be demanding and expensive. Unless you’re an AI robot. Then it’s all seamless, mind-numbing work. In a notable shift from its roots as a credential checking business, Australian RegTech company Kinatico Limited (ASX: KYP) has been pivoting to become an all-encompassing provider of simplified daily compliance
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Former Big Pharma VP takes helm of Syntara Board, accelerates cancer drug development
Clinical-stage biotech company Syntara (ASX: SNT) has stepped into a transformative year with a renewed focus on drug development. Entering 2024, the Company took the “new year, new me” concept seriously, divesting its Pharmaxis mannitol business and rebranding as Syntara with new leadership to include high profile biotech experts that have commercialised drugs for Big
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Unhappy with Mighty Kingdom’s progress, Major shareholder Shane Yeend again calls to remove existing board
Time to vote this board out and make history, reads the clarion call of Shane Yeend, a major shareholder of the independent Aussie game developer Mighty Kingdom (ASX: MKL). Yeend is bringing shareholders together to vote out the current board in favour of a “no nonsense board with extensive track records of successful ASX turnarounds”
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Despite seasonal dip, Coventry reports EBITDA uptick to $9.8m
Specialised industrial products provider Coventry Group (ASX: CYG) has announced notable financial results for the first half of FY24. Its group sales reached $185.3 million, reflecting a substantial 5.4% increase from the prior year. Unaudited EBITDA also demonstrated significant growth, rising by 18.1% to $9.8 million. These results are aligned with last month’s forecasted figures—H1
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TZ smart lockers reports more positive cash flow in Q2 as it guns for profitability in FY24
Smart lockers company TZ Limited (ASX: TZL), serving clients like Apple, JLL, adidas, NSW Health and more, has reported a positive net cash inflow from operating activities, totaling $775,000 in Q2 FY24. Key components of the operating cash flows included receipts of $5 million, coming to $8.8 million year to date. It also reported payments
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Biome probiotics bound for United Kingdom and Ireland, upgrades revenue guidance
Unveiling a string of good news to begin 2024, microbiome health company Biome (ASX: BIO) has announced the launch of its Activated Probiotics in major European health retail outlets starting January 2024. Key distributors are CLF in the UK and iiHealthfoods in Ireland, with funding for the expansion coming from Biome’s current working capital. What’s
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Black Friday and Cyber Monday boost Spacetalk subscriber growth, improve revenue forecast for H1 2024
Besides coveted cosmetics, shoes and tech, safety was a major item on the Black Friday bucket list for parents. Just in time for the new school year, parents put Spacetalk’s Telstra-enabled Mobile plan on their list for affordable data and network connection. During the second quarter of FY24, software services and smartwatch company Spacetalk Mobile
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Compumedics sees 74% sales growth driven by sales in China
Medical device company Compumedics (ASX: CMP) has reported an impressive surge in sales, projecting a revenue of $26 million for H1 FY24. This marks a major 35% increase compared to H1 FY23. The performance is attributed to key factors including the Company’s second MEG sale to Tianjin Normal University (TJNU) in China and successful initial
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Frugl to acquire Trienpont to integrate machine learning and AI into projects
Australia’s ongoing cost of living crisis is no secret. People now read the price tag thrice to determine if the item deserves a spot in their cart. They are cost comparing and cutting, making sure to find the best deals. Retail intelligence ecosystem Frugl (ASX: FGL) had set up a grocery app to make this
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TGA gives green light to Emyria’s psychiatrists for MDMA therapy for PTSD
Mental health treatment provider Emyria (ASX: EMD) has announced that its psychiatry specialist has been granted “Authorised Prescriber” status by the Therapeutic Goods Administration (TGA). The authorisation enables the prescribing of MDMA according to an ethics committee endorsed care model developed by Emyria and within the strict regulatory framework established by the TGA for the
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Vape imports banned, Vitura introduces nicotine vaping products to tap new market
In a bid to crack down on excessive vaping among the Aussie youth, the Australian government decided to nip the problem in the bud. From January 1, 2024, the Therapeutic Goods Administration (TGA) declared that disposable vapes can’t be imported to Australia, regardless of nicotine or therapeutic claims. Plus, come March 1, 2024, importing all
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Jatcorp appoints Sunny Jianxin Liang as new CEO, unveils strategic growth initiatives
Aussie dairy products company Jatcorp (ASX: JAT) is having a particularly productive start to the year with its Board of Directors appointing Sunny Jianxin Liang as the new Chief Executive Officer (CEO) of the company. Liang, a seasoned senior business leader with over 13 years of experience in the export industry, particularly in infant formula,
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Nova Eye Medical reports surge in USA sales despite Medicare reimbursement uncertainty
Aussie MedTech company Nova Eye Medical (ASX: EYE) has kicked off the new year with good news for investors, recording an impressive $7.6 million in sales in the US for its glaucoma surgical devices during the six months concluding on December 31, 2023 (unaudited). This represents a remarkable 65% growth compared to the previous corresponding
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Wide Open Agriculture charts new plan for 2024 following lengthy ASX suspension
“I have more gray hair in my beard – and less overall hair of any color – after a year like we’ve just had,” Wide Open Agriculture (ASX: WOA) CEO Jay Albany remarked, reflecting on the Company’s 2023—the year in which it was suspended from the ASX for six months. Besides reeling under the impact
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Algorae teams up with HL Pharma to supply cannaboids for research projects
Aussie pharma development company Algorae Pharmaceuticals (ASX: 1AI) has partnered with HL Pharma, an Australian company registered with the Victorian Department of Health, for the sourcing, supply, and distribution of various cannabinoid compounds for research purposes. The collaboration is governed by a comprehensive three-year agreement, adhering to Good Distribution Practice (GDP). Under the terms, HL
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Earlypay secures $220m funding for invoice and trade finance facility with major Aus bank
Picking itself up after a year of losses, financial services company Earlypay Limited (ASX: EPY) has secured a new invoice and trade finance warehouse facility with an initial senior funding commitment limit of $220 million. The financial settlement of the facility is set to take place in January 2024. In addition to this milestone, Earlypay
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Vinyl gets bragging rights with Rolling Stone and Variety Australia publisher The Brag Media’s acquisition
It’s a new name, new game energy, as music company Vinyl (ASX: VNL)—formerly Jaxsta—acquires entertainment giant The Brag Media, the Australian publisher of Variety magazine and Rolling Stone AU/NZ. Vinyl will fully acquire the publisher, including its premium network of mastheads and events funded by a new investment by WiseTech Global (ASX: WTC) Founder and
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Proteomics signs deal with Omics Global Solutions to provide Chile with early diabetic kidney disease detection
In Chile, one in eight adults have diabetes. The number of people with the condition there has risen almost 50% in the past ten years. By 2030, the healthcare spending on diabetes in Chile is set to surpass $4 billion. Chile’s healthcare needs demand companies like medical tech company Proteomics (ASX: PIQ) that emphasise early
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Kathmandu sales fall by 21.6% as Aussie summer kicks off and consumer sentiment dwindles
The first four months of FY24 have not been kind on clothing retailer KMD Brands (ASX: KMD), the Group behind the ubiquitous winterwear retailer Kathmandu (spotting Kathmandu jackets during Aussie winters could very well be a drinking game). However, with winters having passed, KMD has reported a 12.5% decline in group sales compared to the
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All-time highs?
The XJO is expected to open higher this morning following another night of gains in the U.S. Their futures are flat. Yesterday we managed to break through key resistance at roughly 7,450 and today we look set to test the next key level at roughly 7,550. The strength underpinning markets is almost dizzying and it
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Monash IVF to acquire 80% of Perth fertility clinic for $12m in expansion bid
Fertility specialists Monash IVF (ASX: MVF) appears to have found fertile ground for growth, as it locks in the acquisition of Perth-based IVF and fertility clinic Fertility North. Fertility North services Perth’s northern suburbs, helping MVF attract new clientele. Monash IVF will acquire 80% of Fertility North through an initial upfront cash payment estimated at
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First time in 25 years, Tissue Repair set to introduce drug for Venous Leg Ulcers, wins US patent for compound
The US Patent and Trademark Office (USPTO) has recently approved the third patent application submitted by the biotech company Tissue Repair (ASX: TRP), which focuses on developing wound-healing agents. This patent—titled “BIOLOGICAL POLYSACCHARIDE COMPOUND” ]—includes claims that extend to the Glucoprime® compound and its molecule, allowing for various applications. Glucoprime and its derivatives serve as
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After TGA and Chairman fiasco, Rhythm Biosciences concedes no commercial sales are possible for its bowel cancer kits
Medical diagnostics company Rhythm Biosciences (ASX: RHY) has undertaken a comprehensive strategic review following major shareholder discontent and a subsequent S249D notice requesting a vote to remove the Chairman. In October, the Company faced regulatory scrutiny as its stock value plunged from 32¢ to 20¢, triggering an ASX “speeding ticket”. Later, the stock was trading
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Black Friday gives Bedshed a much-needed boost after prior lull, acquires new stores
Kitchen, wardrobe and other household products supplier Joyce Corporation (ASX: JYC) has announced the expansion of its bedding subsidiary, Bedshed, with the acquisition of two prime locations in suburban Sydney. The franchise agreements, finalised with two franchisees, will see Bedshed taking control of stores in Alexandria and Castle Hill. The move is part of Bedshed’s
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Wrkr pilots its employer services solution trial with Rest Super
Rest, one of Australia’s premier profit-to-member superannuation funds and a key ally of Link, has entered into a trial partnership with workplace compliance solutions provider Wrkr (ASX: WRK). The collaboration aims to test various innovative solutions that could reshape the landscape of superannuation administration. Rest manages about $75 billion in funds with nearly two million
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Argenica completes production of brain stroke drug, prepares for Phase 2 trial
Biotech company Argenica Therapeutics Limited (ASX: AGN), which is developing novel therapeutics to reduce brain tissue death after stroke, has completed the production of its neuroprotective peptide candidate ARG-007 in powder form. The Company is gearing up for its Phase 2 clinical trials, and the final manufacturing of the sterile drug product in vials is
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Smart ways to survive: PlaySide inks deal with Warner Bros subsidiary for multi-game license
Video game developer PlaySide Studios (ASX: PLY), the studio behind popular games like “Dumb Ways to Die” and “Age of Darkness: Final Stand”, has signed a multi-game license deal with Warner Bros. Interactive Entertainment, a subsidiary of Warner Bros. Discovery, Inc. The agreement grants PlaySide access to a well-known intellectual property, allowing the development of
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Baker Hughes commits to substantial investment in SRJ’s BoltEx flange clamps following product training session
Following a product training session conducted by asset integrity management solution SRJ Technologies (ASX: SRJ) with Baker Hughes’ global engineering team, the latter has announced a commitment to procure SRJ’s BoltEx® flange clamps. SRJ, a specialised provider of engineering services and containment management solutions, disclosed that Baker Hughes’ initial order amounted to an impressive $231,000.
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Wallis Lake has finally reopened for business, and East 33 is shuckin’ thrilled
The farming industry tests many of your abilities beyond the act of farming itself—there’s marketing, distribution, and even disease management. Between September 26 and 30, 2023, the Sydney Rock Oyster producer and supplier East 33’s (ASX: E33) Wallis Lake operations were plagued (literally and fiscally) with ill oysters. Consequently, the Wallis Lake operations, along with
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Titomic and Stärke team up to provide manufacturing solutions to defence, aerospace and other industries
Manufacturing tech company Titomic (ASX: TTT) has entered into a strategic partnership with Stärke Advanced Manufacturing Group, a global player in advanced manufacturing based in South Australia, to cater to clients in high-performance sectors. The collaboration aims to leverage the advanced manufacturing capabilities of both companies, combining Titomic’s technological skillset with Stärke’s industry connections and
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Cycliq’s Black Friday campaign proves successful, rakes in $1.2 million in November
Bike cameras and accessories company Cycliq (ASX: CYQ) won big in November as a result of its Black Friday ad campaigns, offering 30% off storewide. The Company reported earning $1.2 million in Gross Revenue. At the same time, it saw successful sales of the Cycliq Fly 12 Sport safety camera. This year’s Black Friday campaigns
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Whitehawk expands $1.8m cyber risk contract with global social media company
Big techs have been spending billions on cybersecurity, ramping up investments in 2021 when cyber crimes picked up pace. Growing cybercrime has not only weighed heavily on companies’ wallets but has also reduced users’ trust, especially when it comes to social media apps where people hold some of their most private information. In line with
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New leadership at Schrole delivers highest monthly sales reaching $1.2 million
After implementing some strategic and leadership changes, human resources Software-as-a-Service (SaaS) provider Schrole Group (ASX: SCL) saw increased sales in November 2023 in its software and training divisions and ongoing improvement in software renewal rates. As per the Company, this marks its highest November sales, totaling $1.2 million, reflecting a 17% increase compared to the
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Just can’t debt enough: Pioneer acquires debt portfolio from Panthera for $24.1 million
When debt goes unpaid for too long, even banks and major financial institutions need to get some help on board. That’s when financial services like Pioneer (ASX: PNC) come to the fore, promising to recover that debt while keeping customers’ financial needs in mind. Australian debt recovery specialist Pioneer has acquired a Debt Portfolio from
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Imagion Biosystems’ cancer tumour detection tech produces early positive results
In 2023, cancer is responsible for about three in 10 deaths across Australia. And among women, breast cancer remains the most commonly diagnosed. Over two million women worldwide are diagnosed with breast cancer annually, and approximately 20% of them are diagnosed with HER2+ (human epidermal growth factor receptor 2) breast cancer. The growing ageing population
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Wisr fourth ABS transaction to free up cost of funding, signals investor confidence following both Nantes departures
After ousting Anthony Nantes as CEO in August 2023 (and subsequently seeing John Nantes depart as Chairman), consumer lending company Wisr (ASX: WZR) has been on a cost management journey, trying to regain shareholders’ faith. In the face of its declining loan book balance and revenue, the Company has established the pricing for its fourth
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Cyclopharm makes US entry with Duke University Hospital the first contract for Technegas
After gaining US FDA approval in September 2023, nuclear medicine company Cyclopharm (ASX: CYC) has made an official entry into the country with the signing of its inaugural commercial contract for Technegas in the United States with Duke University Hospital the first institution to enter into a formal agreement to use Technegas. Technegas, an imaging
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Fragrances to treat allergies? Microba and IFF enter stage two of novel treatments
Precision microbiome company Microba (ASX: MAP) and the US-based F&B company International Flavors & Fragrances (IFF) have entered the second phase of their joint research initiative, aiming to develop novel microbiome-based treatments for various allergies. The collaboration, a strategic move within the bioscience and health sectors, signals a step forward in addressing the need for
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BluGlass signs $2.6 million contract with North Carolina State Uni to develop lasers
After becoming a member of the US CLAWS hub in October 2023, semiconductor developer BluGlass (ASX: BLG) has signed its first contract: a $2.6 million (US$1.775m) contract with North Carolina State University (NCSU) to develop lasers in FY24. As part of its contract for FY24, BluGlass is working on single-frequency DFB (Distributed-feedback) lasers and progressing
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Amid debt dispute, Electro Optic Systems reports revenue guidance of $210 to $230 million
In the midst of a debt dispute with a major lender, Australian security technology company Electro Optic Systems (ASX: EOS), which operates in the defence and space sectors, has announced a robust revenue projection for the calendar year 2023. The Company anticipates its revenue to range between $210 million and $230 million for CY23. This
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Use your mobile to check for arrhythmia as Advanced Health Intelligence launches AF-Scan
HealthTech company Advanced Health Intelligence (ASX: AHI) is set to launch a medically-approved mobile phone-based atrial fibrillation (AF) assessment in Q2 CY24 in collaboration with Belgium-based Qompium NV, a company specialising in mobile scanning tech. Globally, there are about 60 million cases of atrial fibrillation (AF), which is a form of arrhythmia involving irregular heartbeat.
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Little Green Pharma has big news: a new CEO and 37% revenue growth
Over the years, the Australian cannabis market has consistently posted revenue growth and is expected to be valued at $1.1 billion by 2028. Both Aussies and Europeans are big consumers of cannabis, making them attractive markets for medical cannabis companies like Little Green Pharma (ASX: LGP). Little Green Pharma posted a 37% revenue spike to
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The BESS-T bet: GenusPlus and Samsung joint venture awarded $200m to build energy solution
National power and communications infrastructure provider GenusPlus (ASX: GNP) has secured three contracts in collaboration with Samsung C&T Corporation. These contracts with the Melbourne Renewable Energy Hub (MREH) include the engineering, procurement, construction, and commissioning of the Balance of Plant scope (i.e. the supporting components of a power plant), as well as the installation of
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Lights, camera, caught: Transport NSW extends Acusensus contract for mobile phone detection cameras
Hands-free or not, if you’ve been using your smartphone while driving, you’re putting your life in danger. Studies have found that drivers glued to their phones are ten times more likely to crash. Besides that, in NSW, you can be fined anywhere between $387 and $514 (if in a school zone) for using your phone
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EROAD sees loss worsen, joins hands with Microsoft for generative AI product for fleets
Implementing a strategy upgrade after two fiscal years of negative free cash flow, fleet management company EROAD (ASX: ERD) is joining the artificial intelligence bandwagon. As of the first half of FY24, i.e. six months ending September 30, 2023, the Company has partnered with tech giant Microsoft to develop a Generative AI product aimed at
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NAB and Plenti team up to launch car and EV loan in 2024
FinTech lender Plenti Group (ASX: PLT) and National Australia Bank (NAB) have teamed up to launch a “NAB powered by Plenti” car and electric vehicle (EV) loan, thus making Plenti renewable energy finance available to NAB customers. With 38% of Aussies now considering sustainability actively in their purchase decisions, loans like these are well-timed, helping
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BikeExchange AI platform wins big during Black Friday in Germany
Online bike marketplace BikeExchange (ASX: BEX) has successfully launched its AI Consumer Marketplace Platform in Germany, achieving a record-breaking Black Friday with €322k (A$534k) in sales—20% higher than the previous year. The platform, set to expand to six more key markets, improves customer experience, simplifying the bike hunting and buying process. The platform’s uptake is
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Feeling un-adored: Adore Beauty rejects acquisition proposal which undervalued Company
The thing about most trends is that they are fleeting: ripped jeans, polka-dotted shirts and such. COVID-19 gave birth to many more: Dalgona coffee, TikTok dances, inflation and the consequential e-commerce boom and bust. Since mid-2022, Australia has seen e-commerce sales decline due to inflation; however, that hasn’t compelled online retailers like Adore Beauty (ASX:
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EMVision names brain scanner device emu to signal future-first approach
The Australian bird Emu is known for many things—for instance, it’s not a commitment kind of bird, with its relationships typically lasting for only about five months. Even so, Emus set a great example for couples in post-pregnancy, as the male and female Emus share the load after an egg is hatched, with the male
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Sparc Technologies completes prototype testing for its water-splitting tech, kicks off pre-FEED study
Renewable energy might soon gain a new player, with graphene tech company Sparc Technologies (ASX: SPN) wrapping up prototype testing for its solar reactor, Sparc Hydrogen. The product can split water using sunlight and a photocatalyst, saving time, cost and energy. Sparc Hydrogen is a joint venture between the University of Adelaide (28%), Fortescue (20%)
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Adairs counting on upcoming Black Friday weekend to boost declining sales
The rising cost of living has come for all our throats—furniture and manchester store Adairs (ASX: ADH) is no exception. The Company, like many others, has felt the pinch as higher interest rates and increased living expenses contributed to a notable decrease in foot traffic. To combat that, the Company’s mission has been to ensure
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TAB New Zealand to acquire SENZ digital & audio for $3.7 million from Sports Entertainment Network
Injecting some much-needed cash into the business, Aussie sports and entertainment agency Sports Entertainment Group (ASX: SEG) has entered a non-binding agreement between its wholly owned subsidiary Sports Entertainment Network NZ (SEN NZ) and TAB New Zealand. TAB will acquire SEN NZ’s digital and audio businesses, including the SENZ brand, app and website, and its
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Jayride to seek buyers as FY24 forecast looks bleak with downgrade of cash flow targets
After reaffirming its FY24 guidance of becoming cash flow positive across multiple reports, the online travel aggregator Jayride (ASX: JAY) is revising the narrative. The Company, dealing with declining profit margins and lower net revenue per trip, is no longer expecting to be cash flow positive. What’s more, it is looking for a buyer to
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Administrators return Blue Horseshoe back to Directors as Aspermont pores over its 44% stake
In August 2021, media services company Aspermont (ASX: ASP) co-founded a FinTech startup, Blue Horseshoe Ventures, that was set to democratise and revolutionise the investment space. The same digital capital-raising platform has since entered voluntary administration and been returned to its directors. On August 17, 2023, the Company said Blue Horseshoe Ventures had entered voluntary
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Webjet sees international bookings increase, campervan life suffers due to high prices
Post-Covid travel coupled with increasing prices has created a bittersweet cocktail for online travel agency Webjet (ASX: WEB), which saw bookings rise but still remain lower than pre-Covid levels. Webjet’s international bookings grew even as it battled inflationary pressures and reduced discretionary spending. The Company’s international flights market share grew 24% compared to H1 FY23,
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After ASX suspension over finances, My Rewards secures a $1 million loan from iGoDirect
After a particularly tumultuous FY23—ending with $0 in cash equivalents and a resulting ASX suspension, the engagement and loyalty management platform My Rewards International (ASX: MRI) has entered into a $1 million loan agreement with promotional intelligence company iGoDirect Group. This loan is expected to support the Company for the medium term. It is critical
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More discounts to come at Universal Stores as Aussies reduce discretionary spending
For the first twenty weeks of FY24, Aussie fashion retail company Universal Stores (ASX: UNI) has had to place its focus on promotions and discounts to cater to increasingly price-conscious consumers. Universal saw a spending decline in the regional areas of eastern Australia, contrasting with the more robust performance in metropolitan and CBD locations. In
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Another US win for 4D Medical with FDA approval for CT lung ventilation analysis product
The US Food and Drug Administration (FDA) has given the green light to respiratory imaging technology company 4DMedical (ASX: 4DX) for its CT-based lung ventilation analysis product (CT LVAS™). This FDA clearance will allow 4DMedical to leverage the US’s available CT hardware and boost its presence in the region. The FDA clearance follows the rollout
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ASIC and RBA give green light to new ASX CHESS replacement after years of delays and failures
Questions regarding reliability, transparency and scalability came to the fore after the multi-asset exchange company Australian Stock Exchange (ASX: ASX) decided to replace its 25-year-old clearing and settlements system CHESS with blockchain tech in 2016. To do so, the ASX brought on the New York-based tech startup Digital Asset. However, after multiple delays and issues,
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COG Financial buys 19.99% of Centrepoint shares from ClearView following Diverger deal fallout
In what might be construed as a slow takeover bid, asset finance broking group COG Financial Services Limited (ASX: COG) has acquired 19.99% of diversified financial services company Centrepoint Alliance (ASX: CAF) for a consideration of $13 million. COG has utilised cash and debt to fund the acquisition. The approximately 39.56 million shares were bought
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Within a month of its Forest Service radio’s launch, AEM signs contract with Canadian Helicopter provider for deployment
AEM’s newly launched Forest Service radio, the MTP136D, is flying off the shelves, as the electronics manufacturer Structural Monitoring Systems (ASX: SMN) subsidiary signed a contract with a Canadian-based helicopter provider within a month of its launch. The contract has been signed with Yellowhead Helicopters, based in British Columbia and Alberta. For over fifty years,
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Australian Agricultural Company beefs up cost-saving efforts after declining sales
Two hundred years ago, the cattle farming company Australian Agricultural Company (ASX: AAC) was set up to produce wool, tobacco, flax and more until it transitioned to cattle breeding. While its problems then had to do with the quality of land; now, it is part of the modern zeitgeist, having to bear massive inflationary pressures.
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Rice, rice, baby: YPB Group signs three-year deal with Addera for rice packaging in Peru
Authentication and consumer engagement solutions creator YPB Group (ASX: YPB) has signed a three-year Master Service Agreement (MSA) with Addera, a Peru-based packaging company with clients in the country’s rice industry. Rice is a significant industry in Peru, accounting for 12% of agricultural production by value. Come 2026, the South American country is expected to
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Are digital humans the future of online business? McKinsey and UNITH say yes
A 2023 McKinsey report shed light on research wherein one company with 5,000 customer service agents saw its issue resolution improve by 14% an hour, time spent reduce by 9%, and requests to speak to a manager decline by 25%—and it’s all thanks to generative AI. According to McKinsey, USD $4.4 trillion of value that
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OnTheHouse integrates Openn Offers after customers complain of missing price info and competition
No more under-the-table deals, greasing palms, and paying more than you should, only to discover later that you got duped and were embarrassed to do anything about it. PropTech company Openn (ASX: OPN), through its private treaty platform Openn Offers, is attempting to enable fair market exchange between property buyers and sellers. In doing so,
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The ugly side of the beauty business: McPherson’s to lay off 40 employees following poor year
A streamlined portfolio, new leadership, and layoffs—Aussie health, wellness and beauty products brand McPherson’s (ASX: MCP), the brand behind Manicare, Lady Jayne and Fusion Health, has begun damage control after its FY23 financials painted a worrying picture for shareholders. The Company’s new strategy will focus on its higher margin and higher growth categories where McPherson’s
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MedAdvisor’s PlusOne platform wins Queensland healthcare pilot contract
Covid-19 reimagined the world’s approach to healthcare. While it put excessive strain on healthcare employees, it urged companies and governments to think outside the box and develop a more sustainable system for the post-pandemic world. Of course, that looked different for everyone. For countries like Estonia and the US, it entailed boosting telehealth services. For
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Catapult generates positive cash flow for the first time since 2021, becomes official supplier for NASCAR
After months of investing in new products and signing new contracts, sports performance analytics company Catapult (ASX: CAT) has scored big. For the first time since September 2021, the Company has generated positive free cash flow amounting to $2.2 million. And that is just scratching the surface. Catapult’s total revenue grew to $77 million, up
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ECS ditches new cartridges to enter vapes and pastilles market
As of early 2023, over three million Aussies aged 14 and above were found to either smoke or vape. With a greater number of teens and young Aussies taking up vaping, it has created a massive potential market for cannabis cultivators and manufacturers like ECS Botanics (ASX: ECS). ECS is launching a range of GMP-certified
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Skyfii signs $5 million contract with Abu Dhabi International Airport amid rebranding initiatives
Make passengers stand long enough in a queue, and you will eventually face their wrath. This is especially true at airports, where concerns about missing a flight take precedence (sometimes even over civility). As artificial intelligence (AI) grows, it can be helpful in analysing passenger data, helping you optimise how long it takes for them
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From design to development: Archer successfully validates its Biochip gFET design with German foundry
According to UBS, 3.16 billion people cannot reach a healthcare facility by foot within an hour, with many battling with poverty and inaccessibility to resources. But what if people didn’t have to delay? What if they could use a microchip to diagnose, monitor and upload their data, which a doctor could digitally survey? That’s the
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REA listings see increase amid rising interest rates and home values
The average Australian’s home-owning dream is all but out of reach, with rising interest rates being dubbed more persistent than ever. Home values are increasing, as are financial pressures. For property and real estate companies like REA Group (ASX: REA), this has meant dwindling consumer confidence. In Q1 FY24, REA saw a modest 1% increase
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Join the FAM: Centrepoint Alliance acquires Financial Advice Matters for $10 million
Financial services company Centrepoint Alliance Limited (ASX: CAF) is set to acquire Brisbane-based financial advice firm Financial Advice Matters (FAM). The $10 million acquisition of FAM is forecasted to add significant revenue to Centrepoint, expand its team of salaried financial advisers to 19, and create a financial advice group with the scale to expand in
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SHAPE reports $291 million in project wins so far in FY24
From JW Marriott’s Gold Coast Spa to Curtin University’s computer lab, Sydney-based national fit-out and construction services specialist SHAPE Australia (ASX: SHA) has worked on about 7,000 projects raking in $9 billion. In keeping with that, the Company has kicked off FY24 strongly, with more project wins across its core business and three growth and
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Vitura receives first MDMA for its newly-minted psychedelics arm Cortexa
In May 2023, diversified digital health company Vitura Health (ASX: VIT) announced a joint venture with Canadian psychedelic company PharmAla Biotech, giving birth to its Melbourne-based psychedelics arm, Cortexa. Providing an update on the 50-50 venture, the Company has noted an “Australian first” win. Its MDMA bulk GMP (good manufacturing practice) Active Pharmaceutical Ingredient (API)
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Parkway partners with Energy Estate to boost sustainability initiatives in Queensland
Aussie CleanTech company Parkway Corporate (ASX: PWN) and Australian clean energy development firm Energy Estate have entered into a strategic partnership to advance sustainability initiatives in regional Queensland. The partnership seeks to leverage the strengths of both organisations to address several vital opportunities. Key focus areas include renewable energy, green chemicals, and waste disposal, with
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It’s official: Weebit Nano has achieved its first dollar of revenue!
This is no wee bit of news; it’s a major milestone for Aussie semiconductor company Weebit Nano (ASX: WBT). The Company, known for developing advanced memory technologies for the global semiconductor industry, has received its first IP licensing revenue worth $153,536 (US$100k) for its embedded Resistive Random-Access Memory (ReRAM) technology. Though this revenue is small,
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Pureprofile reports 36% earnings growth as global expansion plans bear fruit
Data is everything. Today, consumer data rules the roost, driving business decisions and platform updates. And how do you get this data? One way is through the Pureprofile platform (ASX: PPL). Pureprofile is a data, insights and advertising company focusing on getting consumer surveys and helping ad agencies. In Q1 FY24, the Company saw its
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Archer makes major advances towards lab-on-a-chip technology
A semiconductor company with a quantum computing and medical diagnostics focus, Archer Materials Limited (ASX: AXE), has announced a notable development in its advanced Biochip graphene field effect transistor (gFET) technology. Archer has successfully demonstrated multiplexing readout capabilities for its Biochip, i.e. they have shown the device can make sense of multiple liquid samples arriving
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Austco Healthcare wins $3.8 million contract to update nurse call system for two Singapore hospitals
HealthTech company Austco Healthcare (ASX: AHC) has locked in a $3.8 million contract to update the Tacera Nurse Call system at Ng Teng Fong General Hospital (NTFGH), a 700-bed facility, and Jurong Community Hospital (JCH), a 400-bed facility, both part of the Jurong Health Campus. The upgraded Care Communications System will introduce updates to elevate
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Findi wins extension contract with the State Bank of India till new contract is enforced
Following its 10-year-long contract win with the State Bank of India (SBI) starting September 2024, digital payment and financial services provider Findi Limited (ASX: FND) has extended its current outsourcing agreement till the new one kicks in. The extended SBI contract is expected to deliver $27 to $29 million in revenue and $9 to $10
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AUB subsidiary Tysers settles case with US Department of Justice for over $72 million as company reports revenue growth
In March 2022, London-based insurance broker Tysers came under the scanner of the US and UK authorities. A few insurance brokers, including Tysers, were accused of bribing Ecuador’s government officials to secure clients. As Tysers dealt with the investigation, in May 2022, Aussie insurance brokers AUB Group (ASX: AUB) acquired it for $880 million. As
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Range achieves revenue growth as it awaits hearing date for the Indonesian tax office case
After struggling with cash and being suspended from the ASX, Range International (ASX: RAN), the manufacturer of Re>Pal ‘zero-waste’ plastic pallets, has reported its Q3 2023 results, achieving its second-highest quarterly sales revenue. The impact of the US currency exchange rate was evident in Re>Pal Indonesia’s Q3 2023 sales revenues, which, at $802.1k, fell below
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As cash dwindles, Advanced Health Intelligence lists collabs and partnerships to turn things around
With its cash reserves dwindling, digital health company Advanced Health Intelligence (ASX: AHI) is having to make a strong case for itself among shareholders. One of its bigger moves is the US FDA submission of July 2023. The purpose of an FDA Section 513(g) submission is to obtain clarification on the regulatory pathway for a
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Keypath Education’s healthcare focus in the US and APAC boosts EBITDA
The global healthcare workforce is set to experience a squeeze, as the WHO estimates 10 million fewer workers by 2030. Lack of funding, disproportionate migration and low wages are just some of the reasons. This is a worrying picture, especially following the Covid-19 pandemic. One company working towards remedying this is the global EdTech provider
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Netlinkz undertakes capital raising, secures contracts for its satellite division Starlink
After a brief ASX suspension for not reporting its financials on time and incurring a loss of nearly $12 million in FY23, software company Netlinkz (ASX: NET) is looking to alter its course in FY24. In Q1 FY24, the Company, which develops intelligent networking solutions, reported revenue of $6 million, marking a 34% uptick on
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Good Drinks Australia’s hospitality revenues boom even as overall beer market softens
By 2027, Australia’s beer market is set to be worth $25.11 billion, but with growing competition, it’s not enough to just sell great beer; companies must now sell an experience. That’s why Australian brewing company Good Drinks Australia (ASX: GDA) has left behind its pokies days to focus on more beer. In Q1 FY24, the
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Adore Beauty’s loyalty programs prove fruitful with revenue bump in tough retail conditions
Aussies and discretionary spending have a love-hate relationship right now. Treating yourself to something nice can temporarily relieve the stress of ongoing financial pressures, but it’s often accompanied by a hint of guilt. Rising costs have hurt both consumers and businesses as they try to focus on strategies to stay afloat. For online beauty retailer
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Pointerra bags $500k contract with Enel, teams up with Carbonix and Emesent for its data analysis platform
After suffering some major financial blows in FY23, Data-as-a-Service (DaaS) company Pointerra (ASX: 3DP) is offering some relief for shareholders. The Company has signed three agreements, with Enel Colombia, Emesent and Carbonix, for its data tech. However, the contract value of only one of these is known, leaving investors wondering how these will impact revenue
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JATCorp sues Chinese competitor for calling products “fake”, posts 186% revenue increase in September quarter
In any industry, there is more than one way to get ahead. One, of course, is doing your job and doing it better than anyone else. Another is destroying the competitors’ image so you are the only reliable option left standing. The latter is the approach Australia-Asia food trade specialist JATCorp (ASX: JAT)’s Chinese competitor
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Algorae Pharmaceuticals collaborates with UNSW for AI biopharmaceutical prediction platform for dementia and heart diseases
As of 2023, over 400,000 Australians live with dementia, with over a million people assigned to their care. It is the second leading cause of death in the country overall and the leading cause of death in women. What’s worse, Australia’s growing ageing population makes this statistic all the more worrying. In a bid to
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G8 sells off 31 underperforming childcare centres to Genius Education for reallocation of resources
Early education provider G8 Education (ASX: GEM) has signed a conditional agreement to sell 31 centres to TAK Operations, part of the private national childcare provider Genius Education Group. What’s more, G8 will pay $26.5 million to Genius, comprising transaction costs and adjustments, with the funds to be allocated across its 31 centres. The 31
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Dumb Ways to Die: the viral audio that perked up PlaySide’s revenue
You’ve probably heard the Dumb Ways to Die audio while scrolling on Instagram or TikTok, but did you know where it’s from? The Melbourne rail campaign, Dumb Ways to Die—the franchise which has been under Aussie video game developer PlaySide Studios (ASX: PLY) for about two years now. Besides that, the studio has a broad
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Reduced household budgets hurt Cluey’s revenue, cost-cutting measures introduced
Even after its cost-cutting initiatives proved helpful, tutoring firm Cluey (ASX: CLU) has been dealing with setbacks in the face of reduced household budgets. The Company reported a 17% decline in revenue, with earnings taking a hit. In Q1 FY24, the EdTech company made notable improvements in its financial performance in other areas. The Company
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After selling US arm to focus on Australia, PointsBet gets the winning ball rolling
While most companies create grand plans to enter the US, online wagering company PointsBet (ASX: PBH) is glad to wash its hand off its American arm since selling it off to Fanatics Betting and Gaming in August 2023. With the first installment of $275.4 million being received, PointsBet is finally focusing on its Australian and
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Bubs goes full steam ahead with US FDA trials in rising market for infant formula
Baby formula and food company Bubs Australia (ASX: BUB) spent a large part of FY23 undertaking reputation management as its dirty laundry was hung for the world to see. Boardroom disputes, miffed shareholders, lawsuits, and a CEO ousting—the Company had to work in overdrive to maintain shareholder confidence. The impact of its decisions can be
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Cash Converters revenue rises as Australians battle inflation and seek loans
Cash Converters (ASX: CCV) is like that great friend who lends you money (few questions asked) and gives you their hand-me-downs and takes things you no longer want. As a bonus, Cash Converters gives you money for taking things you no longer want. With more interest rate hikes anticipated and people reeling under financial stress,
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Whispir CEO resigns, as company undertakes capital raising following a difficult year
In November 2022, Software-as-a-service (SaaS) communications workflow platform Whispir Limited (ASX: WSP) laid off 30% of its staff, saving millions of dollars and sending its share price soaring by 40%. However, that didn’t entail disembarking from its cost-cutting train. Whispir is continuing to consider avenues for savings, and as it does so, its CEO has
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Love Group swipes left on revenue as Bangkok and Hong Kong see falling demand for consultations
While shows like Indian Matchmaking and Bachelor in Paradise might make you chuckle, there is no denying the reality they are rooted in. Many singles, struggling to find a partner using their own devices, turn to professionals to make their romantic dreams come true. By 2026, the global matchmaking industry is set to be worth
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It’s not a 1derful world for Future First Technologies, as its $3.75m investment is placed into administration
In July 2020, software company Future First Technologies (ASX: FFT) invested $2.5 million in shares in tailored payment solutions company 1derful, gaining an 8.8% equity stake in the company. Come 2021, it invested a further $1.25 million. Now, the Company’s stake hangs in the balance as it has received word that 1derful has been placed
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Increasing wages puts pressure on Millennium Services with no material contracts wins, reports negative cash flow
In Australia, the commercial cleaning services industry boasts a $2.2 billion market valuation, with its size having grown 2.5% per year on average between 2017 and 2022. Lucrative as it may sound, the pandemic did little to boost the industry. A tight labour market, supply chain issues and Covid-induced shutdowns proved a difficult time for
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From cannabis to telehealth, Vitura expands portfolio with $25m Doctors on Demand acquisition
Bringing pharmaceutical weed to telehealth, medical cannabis company Vitura Health (ASX: VIT) has decided to acquire telehealth company Doctors on Demand for an aggregate consideration of $25 million. This deal includes an upfront cash payment, a deferred cash component, and an equity stake. The acquisition marks Vitura’s leap into new healthcare verticals, including urgent care,
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SKS Technologies kicks off FY24 with bang following contracts from Defence Force, Australia Post, Flagpies and more.
IT and audiovisual company SKS Technologies (ASX: SKS) has recorded a positive first quarter for FY24, achieving cash receipts from customers of $26.83 million, marking a 15.4% increase on Q4 FY23 and a 2.7% increase on the previous corresponding period, which collected cash receipts of $26.12 million. During the quarter, SKS Technologies obtained several major
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Rare Foods Australia sees abalone sales rise despite a relatively quiet winter
You’ve probably heard about the scarcity bias—the more challenging something is to acquire, the more valuable it is, and the more we want it. Premium foods and wild-caught fishery company Rare Foods Australia (ASX: RFA) caters to that bias with ocean floor-matured wine and abalones (typically priced at about $60 per kg at fish markets).
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AFT Pharmaceuticals locks in $9.4 million agreement after US FDA approves pain relief drug Maxigesic IV
For the second time this year, pharma company AFT Pharmaceuticals (ASX: AFP) has bagged the US Food and Drug Administration’s (FDA) approval. In March 2023, it was approved for Maxigesic Rapid, a rapid-release tablet for acute pain. This time, it’s for Maxigesic IV, the intravenous form of its patented pain relief medicine. The approval was
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Volpara cash flow positive for fourth consecutive quarter as demand for early breast cancer detection tech grows
HealthTech company focused on early detection of breast cancer, Volpara Health (ASX: VHT), has reported a fourth consecutive positive net operating cash flow quarter. As a result, it does not have to submit quarterly ASX updates anymore. What’s better, the Company surpassed its initial guidance by a year and a half. For the quarter ended
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TALi enters cash flow positivity, renews Genius Learning agreement and eyes M&A
Parenting is no cakewalk. Over 30% of new Aussie parents worry about their child developing an internet addiction. What’s more, they find parenting all the more challenging if their child has complex issues. Melbourne-based medical device company TALi Digital (ASX: TD1) provides parents with virtual games, like Ready, Attention, Go (which won a Red Dot
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Hydrogen, the new low-cost energy source: Hazer’s commercial demonstration plant funded for construction
Tech development company Hazer (ASX: HZR) is advancing its presence in the clean energy sector with the Hazer Process. This proprietary process focuses on converting natural gas and methane feedstocks into hydrogen and advanced carbon materials, utilising iron ore as a pivotal catalyst. One significant indicator of Hazer’s progress in the low-cost, low-emission hydrogen technology
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Dropsuite total paying users exceed 1.1 million in Q1 FY24 even as legacy partner takes 50k on exit
Today, backup is everything. With data breaches and cyber attacks, every morsel of information is vulnerable. What’s more, while you may be backing up your information to Google Drive and OneDrive, even these cloud services require backup. After all, 84% of companies don’t back up their SaaS data in the US. That’s where global cloud
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As competitors withdraw, Coventry carries on with 10.8% earnings growth
There is a massive spotlight on high-growth industries like infrastructure, mining and construction, especially as immigration booms and property prices rise. For companies like industrial products distributor Coventry Group (ASX: CYG), this is the opportunity to milk the potential cash cow.
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Melodiol reports positive results from Halucenex trials for magic mushrooms to treat PTSD
In Australia, about 43% of people aged between 16 and 85 had experienced a mental disorder at some point as of 2023. Between 2021 and 2022, over 44 million mental health-related meds, largely anti-depressants, were dispensed. While traditional treatments are only about 20 to 30% effective in treating anxiety and depression, recreational cannabis company Melodiol
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First Graphene secures agreement with UK’s largest cement manufacturer to produce graphene-enhanced cement
Cement is responsible for about 8% of the world’s carbon emissions, more than the aviation industry. With climate change in focus, more and more businesses are undertaking ambitious carbon emission goals, allowing sustainable-first companies to broaden their client base.
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Althea’s cost-cutting proves effective, enters positive cash flow in Q1 FY24
After witnessing a cash burn of $368k in the previous quarter, Cannabis-based pharmaceutical company Althea Group (ASX: AGH) has entered cash flow positivity from its operating activities in Q1 FY24, resulting in a net cash inflow of $35,000. This achievement can be attributed to the Company’s successful cost-cutting initiatives, which have begun to yield results.
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Suspended but not surrendered: Wide Open Agriculture acquires assets of Prolupin for $4.1 million
In April 2023, food and agriculture company Wide Open Agriculture (ASX: WOA) was suspended from the ASX after failing to prove its funding claims. What was supposed to be a nine-week hiatus has turned into a months-long suspension with no end in sight. However, that has not stopped the Company from pursuing commercial opportunities that
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Aurora launches new 3D printer for faster and cheaper commercial use across defence, aerospace and oil
As 3D printing grows, companies attempt to stand out with their iterations. In that vein, Perth-based industrial tech company Aurora Labs (ASX: A3D) has focused on developing faster and cheaper tech that can be used for big projects.
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Swift wins new agreements in aged care and mining totalling $1.6 million
Specialised tech company Swift Networks (ASX: SW1) is expanding its market presence with recent agreements in the aged care and mining sectors, totalling $1.6 million.
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Spectur banks $614k from Southern Cross Protection security order
Solar security and visual artificial intelligence (AI) solutions company, Spectur (ASX: SP3), has locked in a financial commitment, receiving an advanced payment of $614k from Southern Cross Protection (SXP), representing the full amount of the contract.
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DroneShield launches DroneSentry-X for dual detect-and-defeat purpose
Detect and defeat: that’s the new DroneShield (ASX: DRO) rally cry as it launches the DroneSentry-X Mk2, or the DroneSentry-X.
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Streamplay buys MIGGSTER back for $1, pockets $2.5m from the deposit initially paid
Free money. It’s great when you can get it, especially if said money happens to be $2.5 million, which is the situation Streamplay Studio (ASX: SP8) finds themselves in.
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Clinical trial reveals promising outcomes for children with paediatric autoimmune neuropsychiatric disorders
PANDAS and PANS are debilitating conditions characterised by distressing symptoms, ranging from rage to signs of obsessive compulsive disorder.
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Happy Tummies gets more shelf space across Walmarts after Nutritional Growth Solutions reports new agreement
American retail giant Walmart has increased its commitment to the global nutrition company Nutritional Growth Solutions Ltd (ASX: NGS) by awarding NGS an additional 55 stores for the placement of its new Healthy Heights product, Happy Tummies. This brings the total number of stores stocking Happy Tummies to 850, an increase of 55 stores from
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BluGlass wins spot in US Department of Defence’s CLAWS Hub to produce semiconductor photonic devices
For over two years, China has dominated the global semiconductor chip supply, producing about 80% of it, with the US making just about 12%.
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Roots Sustainable receives purchase order from Silal Food and Tech for its root zone cooling tech
Come 2025, the Agriculture Tech, or AgTech, market is set to be valued at $35.8 billion, more than double 2021’s $16.6 billion. Supply chain management, farming, monitoring—the opportunities for AgTech companies are endless.
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No false alarms: International Monitoring Group acquires 3,100 Securely customers for about $842k
Security systems company Intelligent Monitoring Group (ASX: IMB) has struck a deal to acquire a new security business through its recently acquired subsidiary ADT Security Limited New Zealand.
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ECS Botanics secures exclusive supply agreement with MediCann for $24 million worth of cannabis flowers
B2B pharmaceutical company and medical cannabis cultivator ECS Botanics (ASX: ECS) has secured an offtake agreement to supply medical cannabis dried flowers to Perth-based medical cannabis company MediCann Health over the next five years.
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VisionFlex receives an additional $1.1 million purchase order from WA Primary Health Alliance
Australian digital health company 1st Group’s (ASX: 1ST) telehealth subsidiary, Visionflex, has clinched a significant deal with the Western Australia Primary Health Alliance (WAPHA). This marks Visionflex’s second purchase order from WAPHA for an additional 75 Visionflex Clinical Telehealth Carts, valued at over $1.1 million. The initial order, placed in August 2023, consisted of the
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Veem sets sail with Sharrow agreement to build exclusive propellers, enters $4 billion market
Advanced marine propulsion and stabilisation system developer VEEM (ASX: VEE) has signed an exclusive agreement with nautical engineering company Sharrow Engineering.
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Cyclopharm gets FDA green light to sell its lung imaging tech Technegas in the US
Radiopharmaceutical company Cyclopharm (ASX: CYC) is set to begin commercial sales of its lung imaging device Technegas in the US, following the Food and Drug Administration’s (FDA) stamp of approval on September 30.
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Genetic Technologies to employ its geneType test at Gold Coast Private Hospital for improved cancer diagnosis
According to the US Food and Drug Administration (FDA), Precision Medicine, or “personalised medicine”, is a new way of tailoring disease care by considering people’s unique genes, environments, and lifestyles. The goal is to give the right treatments at the right time.
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Noxopharm’s pancreatic cancer treatment drug slows tumour growth in mice, study shows
In 2023, pancreatic cancer transitioned from being a rare form to a common cancer in Australia—a troublesome statistic, seeing as it has very low survival rates of about 12%. The symptoms of pancreatic cancer are in advanced stages, making it difficult to treat.
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3 eCommerce companies ASX investors should add to their watchlist for the upcoming retail season
We have all but entered the silly season as people gear up for Black Friday, Cyber Monday, Christmas, Boxing Day and New Year’s Eve sales. They’ve got the seasonal bonuses and holidays to make the most of it. What’s more, these sales manage to perk up economies, with last year’s Black Friday sale generating record
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Bod Science’s Aqua Phase cannabis outperforms oil-based cannabis in absorption, concentration and onset speed
Traditional cannabis in the form of oil has had an absorption problem, making it less effective. But what if you blended it with starch, which boasts greater absorption without messing with the compound? Cannabis-focused drug development company Bod Science (ASX: BOD) undertook a study on the same, delivering some positive results. So positive, in fact,
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Can Clover’s IQ boosting solution make up for financial struggles impacted by China’s declining birth rate?
Nutritional ingredients producer Clover Corporation (ASX: CLV) witnessed a slight surge in its FY23 revenue, even as it battled growing inflation and falling demand, especially from China’s dwindling birth rates which hit a record low last year. Clover achieved an increase in revenue, reaching $79.9 million in FY23, up from FY22’s $70.7 million. However, this
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Thrive Tribe increases its stake in Daily Food as it launches Instagram-like health and wellness app
Sydney-based HR company focusing on wellness and mindfulness, Thrive Tribe Technologies (ASX: 1TT), has increased its shareholding in Daily Food, the brand behind Super Bites, the health snacks you might now find on Woolies’ shelves. Thrive Tribe has paid $132,000 to subscribe to additional shares to increase its shareholding from 37.5% to 54%. This boosted
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FOS Capital illuminates balance sheet with $3m KLIK lighting acquisition
Commercial lighting solutions company FOS Capital (ASX: FOS) is set to expand its portfolio inking an agreement to purchase KLIK Systems, a Sydney-based linear lighting manufacturer. The acquisition will be financed using FOS’s available cash reserves and debt facilities. The transaction is on track to conclude within a span of two weeks. The purchase price
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Wrkr extends workplace solutions engagement with Link Group via 3 year extension
Cloud-based workplace solutions provider Wrkr Ltd (ASX: WRK) has scored a significant deal to improve employer services for the Australian financial company Link Group. This includes helping with superannuation payments (clearing house) and employers’ process to contribute to superannuation (SuperStream Gateway), among other workplace compliance solutions. This contract builds upon a previous Master Services agreement
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AHI teams up with Unisure to create digital health insurance app to improve policy pricing
Traditionally, underwriting for health insurance involves conducting blood tests and other examinations to understand how much insurers can afford. However, this process tends to be slow and costly, thus needing a better alternative. That’s where digital healthcare company Advanced Health Intelligence (ASX: AHI) comes in. The Company has entered a Letter of Intent (LOI) with
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Damstra signs $1.2m three-year agreement with Aussie coal producer New Hope
Workplace management solutions company Damstra Holdings (ASX: DTC) has signed a three-year agreement plus two one-year options with Aussie coal producer New Hope Corporation. The three-year agreement has an estimated contract value of $1.2 million. New Hope will implement the Company’s new Enterprise Protection Platform (EPP). The EPP will cover New Hope’s employees and contractors
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Waste-case scenario: Clean TeQ to acquire dewatering tech ATA for $3m for mine waste management
A 2023 survey found that, in the coming years, water management will be a top environmental concern among mining investors, with decarbonisation following closely behind. Investors expect miners to make better decisions, and water solutions treatment company Clean TeQ (ASX: CNQ) wants to help miners do so. The Company has decided to acquire accelerated dewatering
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PARKD signs exclusivity agreement with BlueScope’s Fielders to distribute IP and build products together
Step into IKEA, and you see trolleys filled to the brim with flat-packed items (there could be an entire home there). This flat pack enables a do-it-yourself building attitude, also making portability affordable. Now imagine if the same could extend to construction, where builders would just receive flat packed elements that they would need to
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Australian Government brings Micro-X’s Rover on board for X-ray imaging
Australian X-ray technology company Micro-X (ASX: MX1), known for its cold cathode X-ray technology used in health and security applications, has secured a Purchase Order worth $1.5 million from the Australian Government for its portable X-ray imaging tech Micro-X Rover systems. These Rover units are currently in stock and will go through final adjustments in
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New CEO, new products: KMD gears up for seasonal shifts and changing consumer sentiment
This year, Australia is witnessing its warmest winter since 1910, with spring not expected to make things better. Rough times lie ahead not just for Aussies but also for brands whose USP is winter clothing, like Kathmandu. Seeing its first full financial year of uninterrupted trade since the pandemic, retail company KMD brands (ASX: KMD),
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Optiscan to test real-time breast tissue sampling for instant identification of cancer cells
Over 20,000 Aussies are diagnosed with breast cancer every year and is the most commonly diagnosed cancer among women in the country. Therefore, early detection is crucial, and medical imaging is a large part of it. Given that, medical imaging tech provider Optiscan Imaging (ASX: OIL) is conducting a Breast Cancer Intraoperative Assessment study. The
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Axiom invests $1.5 million into fast growing PropTech business Realty Assist
In FY23, in the face of rising interest rates and inflation, property development and investment business Axiom Properties (ASX: AXI) decided to change tact. As companies embraced the artificial intelligence (AI) boom, Axiom got on board, setting its sights on PropTech. Globally, investments in PropTech grew from $23.9 billion in 2018 to $37.7 billion in
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SSH Group secures over $5m in new contracts across construction and government sectors
Business management consultant SSH Group (ASX: SSH) has bagged major wins within its recruitment and workforce management division, boasting an addressable market of over $23.7 billion. The Company has secured new and renewed contracts in both the construction and government sectors, totaling over $5 million. Within construction, SSH Group Safety, a subsidiary within its Recruitment
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BTC enters the acquires neuro-spinal medical products market with $720k acquisition
In 2022, the top five health problems plaguing the Australian population most were cancer, muscle and bone issues, heart diseases, mental health problems plus drug use disorders, and neurological conditions. Together, they made up about 62% of all health problems in the country. Clearly then, the neurological disease prevalence prevents a notable market opportunity—one which
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India records 10 new live births using Memphasys’ sperm selection device Felix
One in 15 Indian couples struggle with infertility, with the figure standing at one in six in Australia. IVF then becomes a viable option, with one in 20 Aussie couples opting for the procedure. Even so, with sperm deterioration over time, the IVF process becomes trickier. That’s where Felix comes in. Developed by Australian reproductive
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Revenge spending in action? Myer reports 18.2% net profit boost even as online sales decline
Department store chain Myer (ASX: MYR) has been in the business since 1900 and floated on the ASX in 2009. The Company has had a long journey, and in FY23 ending July 2023, the Company reported total sales of $3.36 billion, its highest since 2005. A milestone. The result includes the scale of its online
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Pental to divest consumer products to Selleys for $60 million, pivoting to eCommerce
Household cleaning products company Pental (ASX: PTL), the brand behind WhiteKing bleach and Jiffy firelighters, has decided to divest its Pental Consumer Products Business and manufacturing facility. Pental intends to sell its Consumer Products division (excluding Duracell and Bondi Soap) and the Shepparton manufacturing facility to Selleys, a division of chemical industry company DuluxGroup, for
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As dengue cases rise worldwide, Island gets US patent for its antiviral drug ISLA-101
Nearly half of the world’s population is at risk of getting dengue, with cases expected to reach record highs this year. Sounding the alarm on its prevalence, the WHO dictates that there are about 100-400 million infections occurring each year. And global warming is to blame, creating a thriving environment for mosquitoes. Dengue fever’s presence
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South African civil aviation approves RocketDNA’s drone product, Drone-in-a-Box
You’ve probably heard of the burger joint Jack-in-the-box, now meet its older and more advanced (and rather unrelated) sibling: Drone-in-a-Box by RocketDNA (ASX: RKT). The drone automation company’s ‘drone-in-a-box’ (comprising a drone inside a big box) can now operate in South Africa after receiving approval from the South African Civil Aviation Authority (SACAA) for Remote
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FBR’s robot proves its merit by laying 240 blocks per hour, prepares for US deployment
In 2020, robotic tech company FBR’s (ASX: FBR) home building robot Hadrian X built house walls. In 2022, it upgraded to laying up to 500 blocks per hour. Come 2023, it has successfully built an outdoor structure while being operated by a tablet. This (hopefully) marks the final stage in its testing before Hadrian X
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Etherstack signs agreement with Telstra to trial its public safety mobile broadband tech for the Aus government
Real-time, wireless communication tech company Etherstack (ASX: ESK) has signed an agreement with telco company Telstra for the trial and evaluation of Etherstack’s innovative Mission Critical (MCX) 3GPP standards compliant Interworking Function (MCX IWF). Basically, it’s a technology that ensures communications work seamlessly and reliably with different systems during emergencies and for public safety. This
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The IT business: Atturra to acquire Cirrus in $49.3m deal to create tech solutions giant
IT services company Atturra (ASX: ATA) has locked in an acquisition agreement for rival Cirrus Networks (ASX: CRN) for a total consideration of $37 million in cash plus additional shares. This transaction is poised to have a significant impact on the Australian IT services landscape, consolidating the position of Atturra as a leading player in
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Aspermont launches SCOUT to help companies tap customer data online
Today, data is everything. In an era where information reigns supreme, businesses seek innovative ways to harness its power and gain a competitive edge. B2B media services provider Aspermont (ASX: ASP) has recognised this imperative and launched SCOUT, an Intent Data service, to help companies identify and understand new customer purchasing intentions. SCOUT will use
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Direct marketing of biotags and global expansion mark BlueChiip’s cheery entry into FY24
A blue chip denotes the cream of the crop—the most put-together, high-quality company or share. So one can only imagine that naming your company Bluechiip would entail high expectations. And high pressure. Two years ago, advanced sampling management company Bluechiip (ASX: BCT) announced that it would directly market its Bluechiip-Enabled products to end-users, concentrating especially
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Atturra shoots for regional expansion, acquires Newcastle-based IT company for $5 million
Advisory and tech services company Atturra (ASX: ATA) is making headway into regional Australia, with its subsidiary Atturra Holdings acquiring Newcastle-based IT company Sabervox via a Share Purchase Agreement (SPA). As per the SPA, the acquisition will demand an upfront payment of $4 million in cash and $1 million worth of ATA shares. The deal
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Vmoto gears up for EV boom, sets up new manufacturing facilities to increase production capacity
In the Asian market, electric vehicles are set to see massive growth, with revenue projected to reach $671 billion by 2028. Going further left, in South America, the revenue is set to grow to $3.45 billion. Rest assured, as demand grows, it helps to have an early mover advantage. It’s just one of the reasons
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Carnegie Clean Energy wins $6.3 million EuropeWave contract
Wave energy tech developer Carnegie Clean Energy (ASX: CCE) has been selected to receive a $6.3 million contract as part of the competitive EuropeWave Pre-Commercial Procurement (PCP) programme. The Phase 3 EuropeWave contract will engage ’s wholly-owned subsidiary CETO Wave Energy Ireland (CWEI) to build and operate a CETO wave energy converter at a European
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Schrole sees highest ever software contract sales in August, training division thrives as client portfolio broadens
Human resources (HR) Software-as-a-Service (SaaS) provider Schrole (ASX: SCL) has had a better August than some, as its portfolio expanded beyond schools, appealing to mining companies looking to train new recruits. It’s no wonder then that Schrole Develop, its training division, has been doing well, with sales for August 2023 at $200,000, up 34% on
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Semiconductor chips: The ASX companies helming the next frontier of innovation
Imagine a world where the conveniences of smartphones, microwaves, social media platforms like Facebook and Instagram, online booking systems, precise navigation with Google Maps, contactless payments, and seamless phone calls cease to exist. If this scenario seems unsettling, you’re not alone. Our lives are intricately intertwined with the digital realm, and this interconnectedness hinges on
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Director resigns, liquidation fear looms as Phoslock struggles to raise funds after China problems
In 2020, water treatment company Phoslock Environmental Technologies (ASX: PET) came under the scanner for accounting irregularities and fraud in its China division. Subsequently, the Company’s financials suffered and it also lost some staff in China. Three years later, PET’s China management team has been restructured to reduce costs and focus resources on revenue-generating activity.
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INOVIQ teams up with ResearchDx for improved cancer biomarker detection
In 2023, the emerging cancer diagnostics market is estimated to be valued at over $23 billion. Everything is fair game in “finding a cure to cancer”—be it potentially using blood drops or narrowing in on exosomes, which are tiny structures our cells produce to transfer messages, proteins, lipids, the good stuff. These structures might also
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Mayne Pharma buys the global rights to rosacea treatment cream RHOFADE for $12.4m
In FY23, pharmaceutical company Mayne Pharma (ASX: MYX) reimagined its business to focus on dermatology and other core businesses. In line with that, the Company has entered into an asset purchase agreement to acquire the global rights to the rosacea treatment RHOFADE (oxymetazoline hydrochloride) cream from medical dermatology companies Novan and its subsidiary EPI Health.
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Complii to acquire MIntegrity with plans to expand its client base and cross-sell regtech
Financial compliance consulting business Complii (ASX: CF1) is set to acquire financial services company MIntegrity to expand its regtech offerings and client base. This follows Complii’s acquisition of online share registry Registry Direct in August 2022. As part of the acquisition, the Company has gained control of all of MIntegrity’s assets, including the MIntegrity brand,
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Call for help: Dubber pushes call recording AI amid growing struggles
Call recording and voice intelligence software Dubber (ASX: DUB), boasting major clients like Telstra, Microsoft, Cisco and Optus, is pushing its AI tech and knowledge to recover from its intense cash burn in FY23. Pointing to its wins, the Company mentioned that Dubber’s platform was now a part of Telstra and Optus networks. By the
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PointsBet stems its losses with first payment from Fanatics for US business
Having widened its losses in FY23, wagering company PointsBet Holdings (ASX: PBH) has decided to let go of its US divisions, selling them to US-based Fanatics Betting and Gaming (FBG) for $333 million. The Company has received $270.10 million (along with agreed-upon adjustments) as the first payment out of the total purchase amount of $333
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After 20% headcount reduction, Airtasker reports revenue growth as business starts turning
Need some extra cash or extra assistance? Sites like online marketplace Airtasker (ASX: ART) make it possible. After suffering a slew of losses in FY22, the Company had to make some drastic moves to get back on track, and it appears to be working. Airtasker Group posted revenue growth of 40.4% on FY22 to $44.2
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Medical Developments eyes US commercialisation for Penthrox as it scales back in France
After scaling back investments in France and pulling the plug on its China trials, Aussie emergency medical solutions company Medical Developments International (ASX: MVP) has a renewed focus, one that helped it reduce its losses from $12.4 million in FY22 to $5.6 million in FY23. The earnings report showed a net gain of $10.3 million
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Ava wins $800k contract to protect European airports using latest AI detection tech
Risk management services provider Ava Risk’s (ASX: AVA) new Aura Ai-X fibre optic sensing technology has been selected to protect a critical group of European Airports. Valued at about $800k, the contracts are for Satu Mare and Sibiu Airports in Romania and another Western European hub. As per the agreement, the Company will supply detection
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Ashley Services revenue rises by $100 million following two new acquisitions
Recent labour shortages despite migrant boom in Australia has compelled companies to review their hiring strategies, putting a spotlight on skilled workers and meeting them halfway. In July 2023, as full-time employment decreased by over 24,000, part-time employment saw gains of 9,600. To find the right employees, labour hiring services like Ashley Services (ASX: ASH)
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Cluey sees student sign-ups rise by 24%, replaces many full-time teachers with AI
There’s much to be said about creating a level-playing field, especially in education. Giving access to everybody is no longer enough—or perhaps never has been; the game was always about equity. Treating every student’s needs differently and with equal importance. That’s why tutoring has come into the spotlight, helping students who are falling behind get
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Building expenses and reduced affordability push Simonds, but survives
Aussie real estate has suffered on multiple fronts over the past year. Rising interest rates, inflation, labour shortages, lack of materials (plus the high costs) and unfavourable weather gave birth to a rather bitter financial cocktail for companies, like home building company Simonds Group (ASX: SIO). In FY23, its revenue saw a minor uptick of
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Can IXUP’s new National Self Exclusion Register help solve Australia’s gambling problem?
Over the past decade, the number of Australians suffering from a gambling problem has doubled. As of 2023, about 40% of Australians gamble weekly, spending an average of $109 a day on pokies, lotteries, machines and wagering. Aussies lose more than $25 billion per year on legal forms of gambling, making up the largest per
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Veris points to $55 million worth of secured opportunities for FY24
Spatial data service provider Veris (ASX: VRS) spent a large part of FY23 investing in its growth. It spent on new technologies and developed a suite of innovative solutions and services. Plus, it focused on key national clients as part of its Key Account Management program, resulting in a rise in Veris’ growth. Its initiatives
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As NVIDIA revenue sees 101% boost, investors see massive opportunity for ASX semiconductor tech stocks
Sitting snug among companies with the largest market caps, from Apple to Amazon, Alphabet and more, US-based AI computing company Nvidia (NASDAQ: NVDA) makes a strong case for the growth of semiconductor companies worldwide. In 2022, global semiconductor sales reached US$963 billion, marking an increase of over 30% in just two years. And it is
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Ardent Leisure on an upward rollercoaster as it returns to profitability
In the ongoing economic environment, it’s difficult to find moments of peace and joy—of relaxation. Casting around for avenues of thrill, people have taken to theme parks as a way to make the most of this time. Thanks to that, Aussie leisure company Ardent Leisure (ASX: ALG), owning theme parks like Dreamworld and Whitewater World,
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Aussie travel boosts humm group’s BNPL demand even as profit dwindles
Despite the ubiquitous BNPL decline, consumer lending group humm (ASX: HUM) appears to be taking the blow well. To begin with, the Company undertook a private placement in August 2023, providing $760.7 million in increased funding capacity for commercial growth. And thanks to its BNPL growth, the Company has proposed a fully franked final dividend
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Profits decline but property sales increase as The Agency navigates tough FY23 real estate market
After losing a branding battle in May this year, real estate company The Agency Group (ASX: AU1) has realised there’s little to worry about as it expanded its national market share significantly in FY23. The Agency achieved its fifth straight year of growth in the number of properties sold, although that growth was rather small—standing
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Vitura declares dividend for the second time amid growing cannabis profits
Once again, medical cannabis producer Vitura Health (ASX: VIT) has become the only ASX-listed company operating in the medicinal cannabis space to both generate a profit and declare a dividend since its ASX initiation in 2019. The Company will pay a dividend to shareholders in respect of FY23. The Dividend, which will be paid at
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Centrepoint Alliance eyes more acquisitions as financial advisors drawn to strong compliance culture
It might seem difficult to believe that even financial advisers require advice. But in the ever-evolving tech world, everyone can use a little help. Centrepoint Alliance (ASX: CAF) is a diversified financial services company providing lending, technological, investment and advice solutions. It offers software and other resources that help financial advisers give better advice. In
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Urbanise revenue increases but cites contract losses and customer churn for slow growth
With real estate booming worldwide, many people are looking to property management as a profitable avenue for growth. As multiple people flock to share the management of a property, services like cloud software provider Urbanise (ASX: UBN) have come into the spotlight. Especially huge in Dubai, where occupancy reached 72% in 2022, the Company’s 2023
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Rising migration helps taxi company A2B return to profit after FY22 losses
Personal transport and digital payments company A2B Australia (ASX: A2B) is living out its comeback story after operations took a hit over the past two years. With the return of travelers, easing restrictions and digital payments boom, the Company is seeing its financials slowly return to pre-Covid levels. In FY23, its revenue increased by 17.7%
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XRF reports 38% increase in sales revenue, mining revenue comes out on top
Precious metal products manufacturer XRF Scientific (ASX: XRF) has unveiled its financial results for FY23, revealing substantial growth in several key financial indicators. The Company’s strategic positioning to meet the growing demand for precious metals, particularly within the mining and industrial sectors, has been central to its performance. XRF’s Managing Director, Vance Stazzonelli, commented, “FY23
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McGrath reports $6 million profit after tough year for real estate, CEO says ‘worst is behind us’
Despite a particularly testy real estate market, real estate agency McGrath (ASX: MEA) has reported a profit, albeit lower than its FY22 levels. Rounding up its FY23 results, McGrath revealed a statutory net profit after tax (NPAT) of $6.2 million. Its underlying EBITDA amounted to $6.1 million, and it ended the year with a decent
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Jaxsta locks in deal with Spotify licensor Mechanical Licensing Collective
After a brief brush with bleak financials and turbulent management—changing three CEOs in two years, music database company Jaxsta (ASX: JXT) appears to be making a comeback. It has entered into a significant partnership with the US-based Mechanical Licensing Collective (the MLC), a non-profit entity founded under the Music Modernization Act of 2018. This organisation
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IperionX receives order from Lockheed Martin for titanium plate components
American low carbon titanium manufacturer IperionX (ASX: IPX) has received an order with Maryland-based aerospace company Lockheed Martin for the delivery of titanium plate components produced using IperionX’s US manufactured titanium. In doing so, IperionX has the potential to create a more affordable and eco-friendly supply chain for titanium materials within the US. Titanium is
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