A Lens Over OpenDNA's Consolidated Financials for Financial Year 2019 

  • Oct 21, 2019 AEDT
  • Team Kalkine
A Lens Over OpenDNA's Consolidated Financials for Financial Year 2019 

Artificial intelligence (AI) and digital marketing have begun to go hand in hand and with time, growing upgradations in capabilities to use AI will help in improving digital marketing strategies and valuable customer insights for companies.

Australia-based OpenDNA Limited (ASX: OPN), powered by its hyper personalisation and profiling AI System, is largely capitalising on the opportunity at hand while providing fully-integrated digital marketing, eCommerce and customer acquisition services, specifically targeted at boosting online sales of services and products sold by its clients.

Read here- OpenDNA’s Business And Strategy In A World Driven By Artificial Intelligence

The company is specifically focused on enabling businesses with Australia and China-integrated sales operations to sell directly to Chinese consumers through the RooLife online e-Commerce marketplace.

With its AI System, purpose-built Mandarin-language digital marketing strategies and seamless payment processing via the WeChat and Alipay mobile payments platforms in AUD or CNY, OpenDNA had made it easier for companies to access Chinese market where the online shoppers are estimated to reach over 1 billion in 2019 from 587 million in 2018. The company is specifically eyeing high-demand market segments like vitamins, minerals, tourism, skincare, supplements, health & wellbeing and AI to expand the high-quality customer base for its digital services.

Financial Year 2019: A turning point

The financial year to 30 June 2019 (FY19) marked a transformational period for OpenDNA as it continued to commercialise applications for its platform while accruing increased revenue and building customer base.

The e-Commerce AI Recommendation Engine, Daishu, was developed and deployed during FY19 and is being used in the RooLife e-Commerce platform. Daishu is designed to optimise sales by making the most appropriate recommendations to online shoppers while providing valuable insights for its customers into consumer preferences and behaviours. This is invaluable in profiling the brand segments and products most suitable and in demand amongst online consumers and generate ongoing and recurring purchases.

OpenDNA completed the acquisitions of RooLife Limited, CHOOSE Digital Pty Ltd by December 2018 , Blackglass Pty Ltd in April 2019, and subsequently incorporated its AI system into the products and services provided by these companies. The company rationalised the Group’s operations and geographic footprint by establishing offices in Sydney, Perth, Singapore and China focussed on servicing its clients’ requirements in these jurisdictions.

  • During FY19, the company’s sales receipts grew by 320% from Q1 to Q2, 300% from Q2 to Q3 and skyrocketing by ~350% during the last quarter (from Q3 to Q4);
  • QEdge appointed as the dedicated distributor in China;
  • Several partnership agreements were signed during and subsequent to the financial year with pharma and skincare product providers; Perth Airport Pty Ltd, Lobster Shack (Western Australian tourist destination), to market their products online and grow brand awareness and sales in Australia and China;
  • Very recently in September 2019, OPN acquired specialist China market entry and digital marketing company Quality Brands International Direct (QBID) to extend RooLife sales channels and marketing capability further.

The company’s Revenue Streams, including additions in FY19 comprise-

  • Digital & Online Revenue
    • Online services & Marketing Fees
    • Annuity Licensing & Retainer Fees
    • Commission on all Transactions
    • Customer Profiling and Business Analytics
    • AI Personalization
    • Advertising
    • Cross selling across business units
  • Chinese Market Revenue
    • Providing real-time AliPay and WeChat payments also extending to Marketing strategies for retail outlets, cellar doors and airport shopping.
    • Marketing strategy for targeting Chinese Travelers.
    • Online e-Commerce platforms selling into China.
    • Big Data Strategy – Better understanding your customer leads to increased sales.
    • Product & Service Sales in Mainland China.

The revenue from continuing operations amounted to AUD 705,630, a stellar improvement over AUD 118,739 recorded in FY18 while the net loss of ~AUD 3.31 million for the year also reduced from ~AUD 3.97 million in the prior year.

As at 30 June 2019, the company’s net assets totalled ~AUD 5.25 million including cash and cash equivalents of ~AUD 2.09 million.

Cashflow- Cash outflows of ~AUD 2.53 million were recorded from operating activities including payments to suppliers and employees net of receipts from customers, interest and other Research and Development cash rebate received. Meanwhile, extensive investing activities including payments for property, plant and equipment; payment for intangible assets; and payments to acquire subsidiaries, net of cash acquired and proceeds from the sale of property, plant and equipment, all generated cash outflows of ~AUD 248,980.

On the other hand, financing activities resulted in net cash inflows of ~AUD 4.196 million, primarily on account of proceeds from the issue of shares (~ AUD 4.5 million).

Next 12 Months - In the 2019/20 financial year (FY20), OpenDNA strategy is to develop and grow its customer base across multiple industry verticals, expand the application of its digital marketing, AI and e-Commerce capabilities across both Australia and China into new sectors like Airports, Entertainment, Tourism and Tourism Bodies.

Stock Information

As on 21 October 2019, OpenDNA’s market capitalisation stands at around AUD 10.08 million. The stock is trading at AUD 0.036 with ~ 258.26 million shares outstanding.


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