AUS
NZ
UK
CA
USA
IND
Highlights
- Wooboard’s key highlight of the reported period is the new improvements to its Sixty wellness app.
- The app added new features like Vimeo-powered live streaming, new chat system, and Spanish-language support.
- WOO also retains its 6.66% equity interest in Slik, which it says would enable cross-selling opportunities.
ASX-listed Wooboard Technologies Limited (ASX: WOO) recently released the company's half-year report for the period ended 31 December 2022. Wooboard -- which is into development of cloud-based Software as a Service (SaaS) focused on connecting businesses with their employees -- included the ongoing product enhancements in the latest report. Besides, a successful capital raising (AU$370,000) was the other key development highlighted in the half-year report.
Below are the incremental progresses that Wooboard Technologies registered during the reported period.
Sixty wellbeing app
Sixty -- an app that connects content creators and widely distributed viewers -- underwent major development milestones during the half year ended December 2022. These advancements, WOO states, are targeted at improving user experience and adding more functionality to the platform.
In this respect, the app witnessed implementation of live streaming for creators that enables real-time interactions and engagement between wellness content creators and their viewers. Notably, creators on Sixty include experts related to the fields of fitness, meditation, and yoga. Live streaming, WOO says, allows easy access to expert advice and guidance, thereby enhancing the overall user experience. Besides, there were also improvements made with respect to the user interface (UI) of the platform.
Video hosting platform Vimeo is aiding Sixty's live streaming feature, contributing to high quality and seamless user experience.
During the reported period, Sixty's menu structure was further simplified, the content was better organised, and the most important features of the wellness app were highlighted during the UI/UX design improvement exercise. All this, WOO asserts, is expected to increase user retention for the app. The new chat feature, which connects all users by bringing them at one place, enables real-time discussions, engagement, and a sense of community.
A major upgrade during the period was the setting up of the app in Spanish language. WOO further states that besides including all features of the English version, new Spanish-language content creators were also brought in to push Sixty among Spanish language speaking users. These new creators are wellness specialists, covering the above-mentioned fields.
Image source: Wooboard website
Capital raising
The half-year period also saw the successful completion of raising of AU$370,000. This was covered by Wooboard's existing placement capacity under Listing Rule 7.1, the report mentions.
Slik investment
With respect to the Slik transaction, the company has said that it retains a 6.66% equity interest, with the License Agreement between the two parties also in force.
Wooboard is expecting a boost in the third quarter of the ongoing financial year with respect to its cash flow (including R&D claim for the previous financial year), with which it would focus on enhancements and marketing of the Sixty wellness app.
WOO shares were trading at AU$0.007 midday on 7 March 2023, up over 16% from the last close.
