AUS
NZ
UK
CA
USA
IND
Highlights
- Megaport offers Network as a Service (NaaS) solutions, while Cettire is a online retailer of in-demand luxury products
- In 1HFY24, MP1 recorded 785.29% YoY rise in its EBITDA to AUD 30.10 million
- CTT’s revenue in 1HFY24 jumped 89% YoY to AUD 354.30 million
Megaport Limited (ASX: MP1) is a provider of Network as a Service (NaaS) solutions. The company's global software defined network (SDN) enables businesses to seamlessly connect their networks to services using a user-friendly portal or open application programming interface (API). MP1 is one of the ASX-listed growth stocks that has witnessed above-average revenue growth in the past few years.
Cettire Limited (ASX: CTT) is an online retailer which offers a wide range of highly sought-after luxury goods. The company provides access to over 2,500 luxury brands and offers a diverse selection of 500,000 products.
Megaport Limited (ASX:MP1)
Highlights of latest financial performance
In the first half of the financial year 2024 (1HFY24), the company experienced a significant 34.51% YoY increase in revenue, reaching AUD 95.10 million. This growth was driven by organic expansion and a rise in Cloud VXC pricing.
During the reported period, MP1's gross profit surged by 43.23% YoY to AUD 66.60 million, while EBITDA saw an impressive increase of 785.29% YoY to AUD 30.10 million, reflecting enhanced profitability. As a result, the company reported a net profit after tax of AUD 4.4 million in 1HFY24, a turnaround from a net loss of AUD 13.5 million in 1HFY23.
Here is a synopsis of the company’s last three year’s financial performance:
Historical financial performance
Outlook
In April, MP1 revised its earnings outlook for FY24 upwards, citing sustained improvements in operational and financial performance. The company anticipates FY24 revenue to range between AUD 190 million and AUD 195 million, marking a growth of 24% to 27% compared to FY23.
Additionally, MP1 expects its FY24 EBITDA to be in the range of AUD 51 million to AUD 57 million, reflecting an increase of 177% to 187% over FY23 normalised EBITDA. MP1 also reaffirmed its FY24 capital expenditure guidance at AUD 20 million to AUD 22 million.
Share performance of MP1
MP1 shares closed 1.19% higher at AUD 11.060 apiece on 3 July 2024. In the last one year, MP1’s share price has increased by nearly 52%, and in the last three months it has dropped by almost 18.07%.
The 52-week high of MP1 is AUD 15.65, recorded on 14 March 2024, while the 52-week low is AUD 6.71, recorded on 10 July 2023.
MP1 Daily Technical Chart, Source: EODHD/Others
Cettire Limited (ASX:CTT)
Highlights of latest financial performance
In the first half of the financial year 2024 (1HFY24), sales revenue of the company surged by 89% YoY to AUD 354.30 million, driven by enhanced localisation efforts initiated in FY23.
Gross revenue from these markets soared by 138% YoY in 1HFY24. Concurrently, adjusted EBITDA increased by 56.29% YoY to AUD 26.10 million, underscoring the effectiveness of these strategic initiatives. Adjusted NPAT also rose by 52.83% year over year to AUD 16.41 million during the period.
Historical financial performance
Outlook
CTT anticipates achieving FY24 revenue between AUD 735 million and AUD 745 million, marking a robust 77% to 79% growth compared to FY23. Adjusted EBITDA for FY24 is projected to range from AUD 32 million to AUD 35 million, reflecting a 24% to 36% increase over FY23.
Throughout Q4 FY24, the company reported sustained broad-based revenue growth, bolstering its market penetration and expanding its share in the global online personal luxury goods market.
CTT foresees substantial annual growth in active customers and expects a notable rise in gross revenue from repeat customers. However, CTT acknowledged challenges in the operating environment of the global online luxury sector, noting softened demand trends and heightened promotional activities, resulting in margin compression.
Share performance of CTT
CTT shares closed 12.35% higher at AUD 1.365 apiece on 3 July 2024. In the last one year, CTT’s share price has dropped by nearly 59.50%, and in the last one week it has increased by 29.38%.
The 52-week high of CTT is AUD 4.90, recorded on 1 March 2024, while the 52-week low is AUD 1.01, recorded on 26 June 2024.
CTT Daily Technical Chart, Source: EODHD/Others
Note 1: Past performance is neither an Indicator nor a guarantee of future performance.
Note 2: The reference date for all price data, and currency, is 3 July 2024. The reference data in this report has been partly sourced from EODHD/Others.
Disclaimer
This article has been prepared by Kalkine Media, echoed on the website kalkinemedia.com/au and associated pages, based on the information obtained and collated from the subscription reports prepared by Kalkine Pty. Ltd. [ABN 34 154 808 312; AFSL no. 425376] on Kalkine.com.au (and associated pages). The principal purpose of the content is to provide factual information only for educational purposes. None of the content in this article, including any news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations, and video is or is intended to be, advisory in nature. The content does not contain or imply any recommendation or opinion intended to influence your financial decisions, including but not limited to, in respect of any particular security, transaction, or investment strategy, and must not be relied upon by you as such. The content is provided without any express or implied warranties of any kind. Kalkine Media, and its related bodies corporate, agents, and employees (Kalkine Group) cannot and do not warrant the accuracy, completeness, timeliness, merchantability, or fitness for a particular purpose of the content or the website, and to the extent permitted by law, Kalkine Group hereby disclaims any and all such express or implied warranties. Kalkine Group shall NOT be held liable for any investment or trading losses you may incur by using the information shared on our website.
