Technology is the use of scientific knowledge for practical purposes, and it forms an important aspect of economic development. There are other factors as well that influence economic development; however, technology is one of the major sectors that makes immense contribution towards the growth and development of a country.
The application of technology is seen in day to day activities, as well as in almost all the sectors. To be competitive, boost efficiency, accelerate their services and lower costs, a business needs to stay up to date with new emerging technologies. In this article, we would be discussing three stocks catering to the technology sector.
Mobilicom Limited (ASX: MOB) is a hi-tech company, listed on the ASX in 2017. Being part of the information technology sector, the company is engaged in designing, developing as well as delivering communication solutions for mission-critical and remote mobile private networks without any requirement for infrastructure.
MCU Communication Unitsâ Purchase Order:
On 6 August 2019, Mobilicom Limited announced that it had received and delivered on an order from a customer for its MCU communication units. The order worth more than $ 250,000 is from Bird AeroSystems, a provider of solutions related to airborne surveillance. The order is a repeat from the company, which was founded in the year 2001.
Bird AeroSystems is a provider of airborne solutions to some of the largest commercial, government, military, and transnational organisations in the world. Some of the clients of Bird are the government of United States, UN Air Operations and NATO forces.
MCU communication units of the company would be used by Bird for its Airborne Surveillance, Information and Observation (ASIO) Special Mission System, which includes airborne surveillance, intelligence and observation solutions. The ASIO system is used for managing critical missions like maritime and ground surveillance, patrol and monitoring.
In the investor presentation released by the company on 5 August 2019, MOB highlighted on:
- Total cash receipts for Q2 2019 grew 55% to $ 1.1 million as compared to Q119.
- Total receipts from customers increased by 54% to $ 866,000 in Q219 over Q119.
- Total Q219 receivables from grants went up by 54% quarter-on-quarter to $ 262,000.
YTD Cash Position:
- Total cash receipts for the period stood at $ 1.9 million.
- Receipts from clients YTD were $ 1.4 million.
- Total government grants were $ 432,000.
The revenue of the company as of 2019 is being driven by its Mobilicom business entity across targeted government and enterprise applications.
Important achievements of the company in Q2 include the selection of SkyHopper solution by global aerospace leader Airbus. The second achievement of the company during the period was its strategic partnership with 2nd largest drone manufacturer Yuneec International. The third achievement during the period was approval from the Israel Ministry of Defence & the Israel Innovation Authority for the 2.5-year R&D project, focused on cybersecurity development with the use of Artificial Intelligence for drones and robotics platforms. Some of the other achievements include an innovative drone upgrade solution and a purchase order from NTT. The company also shared its offerings and revenue model during the presentation.
By the end of the dayâs trading on 7 August 2019, the closing price of the shares of MOB was $ 0.094, up by 4.444% as compared to its previous closing price. MOB has a market capitalisation of $ 23.21 million and around 257.94 million outstanding shares.
PainChekÂ® Ltd (ASX: PCK) is a developer of pain assessment technologies. With the use of Artificial Intelligence, the PainChekÂ® smartphone based medical device evaluates and scores even the minutest facial expression that indicates the presence of pain.
Source: Companyâs Report
Agreement with Allium Healthcare:
On 6 August, PainChekÂ® Ltd announced that it is making strong progress as part its global expansion strategy. The company unveiled to have secured a regulatory clearance from the Health Sciences Authority (HSA) of Singapore for the use of its application, PainChekÂ® in the Asian country.
Meanwhile, the company entered into a license agreement with Allium Healthcare Holdings Pte Ltd, which is a provider of personalised and dignified care in Singapore. Allium is also the first purpose-built premium nursing home (Allium Care Suites) developer and operator in the Asian country. The agreement is for a two-year period. According to PainChekÂ®âs Managing Director, Mr Philip Daffas, the agreement would enable the company to boost its operations in the Asian region.
According to a study, approximately 82k people in Singapore may have dementia. It is anticipated that this number would rise to 100,000 in a few yearsâ time. Moreover, in Asia, almost 23 million people are suffering from dementia, with the region expected to become the second largest continent in the world with respect to the number of people with dementia by 2030, as per a study carried out by the Alzheimerâs Disease International.
By the end of the dayâs trading on 7 August 2019, the closing price of the shares of PCK was $ 0.165, down by 5.714% as compared to its previous closing price. PCK has a market capitalisation of $ 159.98 million and approximately 914.16 million outstanding shares.
Hydrix Limited (ASX: HYD), part of the information technology sector, is in the business of product designing and engineering. The company specialises in complex, regulated and safety-critical projects.
HYD Snapshot (Source: Companyâs Report)
On 30 July 2019, Hydrix Limited announced that it had secured a significant cardiac technology development project for US-based medical device company, Angel Medical Systems (AngelMed). Under this project, the company would be providing engineering and regulatory consulting services.
The company believes that through this project, it would be able to generate fee earning revenue up to $ 3.3 million over a span of 12 to 18 months. The company would be integrating new and updated technologies into the Guardian SystemÂ® of AngelMed, which is a permanent implantable cardiac monitor. The device is capable of alerting patients for acute coronary syndrome (ACS) events, including heart attack as well as alerting users in case of any urgent medical requirement. Guardian SystemÂ® is the first FDA approved permanent implantable cardiac monitor.
By the end of the dayâs trading on 7 August 2019, the closing price of the shares of HYD was $ 0.029, down by 3.333% as compared to its previous closing price. HYD has a market capitalisation of $ 20.08 million and approximately 669.33 million outstanding shares.
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With the pandemic continuing to affect the globe, healthcare companies are evaluating their lead compounds for COVID-19 treatment. Future revenue for these stocks depends on the probability of launching an approved treatment in the market.