AUS
NZ
UK
CA
USA
IND
.jpg)
Summary
- The technology sector has outperformed most sectors during the last few months and has exceeded its pre-COVID-19 levels.
- Afterpay has completed its capital raising. The proceeds would support the Company’s rapid growth and provide capacity & flexibility to execute on possible M&A opportunities and expand its global footprint.
- Whispir Limited’s annual recurring revenue increased by 35.7% to A$42.2 million in Q4 FY2020.
- intelliHR Limited announced a A$5.5 million capital raising. The proceeds used for the global expansion acceleration beyond the current 24% of ARR accounted for by offshore activities.
The last 12 months journey was a roller coaster ride for Australia where the country experienced back to back calamities, first the bushfires and then the COVID-19 pandemic. Australia managed to handle the COVID-19 pandemic pretty well and managed to flatten the curve by May 2020, which supported the market to progress in a positive direction.
However, post the lockdown, the country started experiencing the second wave of COVID-19, which has resulted in market uncertainty. Amongst various sectors on the ASX, the tech sector was amongst the few that could surpass their pre-COVID-19 level.
The S&P/ASX 200 Information Technology has generated an impressive YTD return of 17.40% (as on 12 August), substantially better than the benchmark index, S&P/ASX200 which has a negative return of 8.26% over the same period. The relatively new S&P ASX All Technology Index has been promising as well since its launch in February this year. On 13 August 2020, the S&P/ASX 200 Information Technology moved up 0.5% and settled at 1,659.5.
DO READ: Tech ETFs Post Astounding Returns as Technology Sector Makes Moolah
In this article, we would look at ten such ASX-listed technology stocks which have delivered over 30% return in the last three months and see their recent update. Below table shows the performance of the stocks:
Afterpay Limited (ASX:APT)
BNPL leader, Afterpay Limited, on 4 August 2020, closed its share purchase plan which was announced on 7 July 2020. Under the share purchase plan, the eligible shareholders in Australia and New Zealand were allowed to apply for new shares up to A$20,000 without any brokerage or other transaction costs. Each share under the share purchase plan was issued at A$66. The Company also completed a A$650 million placement.
The proceeds from the capital raising would support the Company support the Company’s rapid growth and also provide capacity plus flexibility to execute on possible M&A opportunities and expand its global footprint.
Objective Corporation Limited (ASX:OCL)
Objective Corporation Limited helps businesses drive digital transformation by associating content, processes & people for informed business.
On 11 August 2020, OCL announced the extension of the buyback. The buyback has now been extended from 25 August 2020 and ending on 24 August 2021. The Company is looking to buy back a maximum of 9,358,037 shares. The primary reason for the share buyback was capital management.
Whispir Limited (ASX:WSP)
The leading SaaS communication workflow platform Whispir Limited reported a significant 35.7% increase in the annual recurring revenue to A$42.2 million in Q4 FY2020 as compared to the previous corresponding period. The annualised recurring revenue improved by 4.2% as compared to the March quarter, driven by the growth in the ANZ and Asia.
Quarterly customer cash receipts increased 27% to A$11.3 million as compared to the previous quarter and 36.5% on pcp. June quarter is the second consecutive quarter of record customer growth, acquiring 72 net new customers during the period. The Company reported a continued reduction in net cash in operating activities for Q4 FY2020. It declined by 93% as compared to the previous quarter.
DO READ: A look at an emerging SaaS minnow – Whispir
Splitit Payments Limited (ASX:SPT)
Global payment solution provider, Splitit Payment Limited recently announced that it received a firm commitment to raise A$90 million in new equity via a fully committed two-tranche share placement to institutional, sophisticated and professional investors via the issue of ~69.2 million new shares. Each share under the placement is issued at A$1.30 per share.
The placement was supported by the existing shareholders and will see various new, high-quality institutions join the Company’s register.
The proceeds from the equity raising would be used for accelerating the high-growth strategy by funding further sales & marketing and added investing in product and technology development. The funds would strengthen the balance sheet, which will support growth across the business, involving growth of the SPT’s funded merchant model.
GOOD READ: 3 Tech stocks That Have Beaten the Odds – SPT, NXT and ALC
BrainChip Holdings Ltd (ASX:BRN)
BrainChip Holdings Ltd, a leading provider of ultra-low-power high performance AI technology released Investor Presentation where it discussed on June quarter achievements, product development, Markets, Opportunities and Challenges, state of business as well as the shareholder value.
Development during June 2020:
- Cash Balance US$5.3 million.
- Conclusion of wafer fabrication, assembly, and test operations.
- Achieved early access program and proof-of-concept agreements
- Retirement of Convertible Debt.
AKD1000 Product Development:
- Completed functional test
- Internal validation under progress.
intelliHR Limited (ASX:IHR)
Australian HR technology business, intelliHR Limited has announced a A$5.5 million capital raising, which comprises of A$2.5 million placement to the Slattery Family Trust. A$2.5 million was raised via placement and an underwritten non-renounceable A$3 million rights issue. The fund raised will be used for the global expansion acceleration beyond the current 24% of ARR accounted for by offshore activities.
archTIS Limited (ASX:AR9)
The Canberra-based firm, archTIS Limited that focuses in the designing and development of products, solutions and services or secure information sharing and collaboration on 18 June 2020 announced that it secured its first Defence Industry commercial contract with Northrop Grumman Corporation (NYSE:NOC). The deal secured by the Company was to purchase licenses for its Kojensi cloud platform to share information for its business development teams securely.
This contract with the global US$53 billion Military System Integrator shows Kojensi’s diverse market sector application. The Kojensi Platform will support in the preparation of Government and Defence tenders between Northrop Grumman business development teams in Australia, the US, and their partners.
Esports Mogul Limited (ASX:ESH)
Esports media and software business, Esports Mogul Limited announced that Michael Rubinelli, the former Electronic Arts, Midway and Disney Executive joined Mogul as CEO after a global search.
The Company made another appointment in August 2020 was of Kate Vale, who is the former Google, YouTube and Spotify Managing Director joins the Mogul board after a massive global search.
To read how the e-sports industry has performed in 2020, click here.
DigitalX Limited (ASX:DCC)
Technology and investment company that specialises in the commercialisation of blockchain and distributed ledger technology has recently released its June 2020 quarterly report.
The Company continued to execute on its earlier revealed business plan. Activities have concentrated on the continuation of growth across the Company’s fund management division & the continuing expansion of the DCC’s consulting and development division.
Operating cash outflow reduced by 59%.
Pointerra Limited (ASX:3DP)
Pointerra Limited, an Australian Company that focuses on the global commercialisation of its unique 3D geospatial data technology, provided an update on the latest enterprise sales activities.
- Annual Contract Value (ACV) grew 33% to US$2.87 million (~A$4.0 million) as on 30 July 2020.
- Reported the biggest ever QoQ growth in ACV of US$0.71 million.
- Increase in ACV created from current and new clients.
