AD1’s Share Trading At Lower End – What You Need To Know

  • Nov 28, 2018 AEDT
  • Team Kalkine
AD1’s Share Trading At Lower End – What You Need To Know

ApplyDirect Limited (ASX: AD1) helps employers to directly access high-quality talent at a lower cost without any hassle through its cloud-based solutions. On 27 November 2018, the share price of ApplyDirect witnessed a fall of 25.641 percent in a single day. This came after a day when the company announced that it has executed a term sheet in relation to the proposed acquisition of Utility Software Services Pty Ltd. Further, the company is considering a capital raising prior to the end of 2018 in conjunction with the Proposed Acquisition to procure an accelerated breakeven position. It is expected that this acquisition will enable the sharing of technical capability across both businesses, while also reducing the combined entity’s cost base. Recently, the company also announced that it had inked a long-term agreement with Advanced Personnel Management (APM) to develop, host and maintain an APM branded digital marketplace that connects job seekers and employers in the Government Welfare Sector.

In the recently released quarterly report, the company announced that the net cash outflow from operating activities in the September quarter was $1.18 million down from $1.24 million in the June 2018 quarter. The company also reported that the Cash receipts for the September 2018 quarter were $630,000 which were 93% higher than the previous corresponding quarter. Further, in the September quarter, the company completed the its capital raising event of around $1Mn, with director contributions which subjected to the shareholders’ approval at the Company’s Annual General Meeting.

In FY 2018, the total operating revenue was $1.7 million, compared to $694k in FY2017. The revenue was mainly driven by the contributions from the New South Wales (NSW) and Victorian Governments, large enterprise customers and strong growth in media revenue. The company’s relationships with the NSW and Victorian Governments have also led to an ongoing series of project work, including the development of the iworkfor.nsw.gov.au mobile app, migration of the iworkfor.nsw.gov.au careers platform to the cloud and the integration of VicRoads with CAREERS.VIC. In FY 2018, the total expenses increased by 25% reflecting the investment in business capability to support customer growth.

During the financial year 2018, the strong momentum in site traffic and successful campaigns drove strong growth in media sales. In July 2018, First State Super renewed its campaign for a further 12 months following the success of its previous campaign, extending the media relationship with ApplyDirect to two years. According to the company’s CEO, the deep integration between ApplyDirect’s platform and the underlying employer e-recruitment system enables large enterprise employers to access a better return on their recruitment marketing investment. As per the company’s FY 2019 outlook, the revenue and cash receipts of the company for the first half of 2019 are expected to be significantly ahead of the first half of 2018.

The stock price of ApplyDirect Limited ended the session on November 28, 2018 on a flat note. The stock price settled at A$0.029 per share with a market capitalization of circa $7.19 million as on 28 November 2018. The company’s stock price has been trading towards the lower range.


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