ASX AI stocks for intelligent investing

Highlights

  • Artificial Intelligence (AI) stands among one of the leading technologies in the world that is expected to shape the future.
  • This sector is likely to increase further soon, as many companies have adopted AI technology during the pandemic.
  • HWH, SNS and BRN gained 233%, 52% and 17% in the last 12 months.

Artificial Intelligence or AI has become a common technology in the recent years. Various components of AI have evolved to support both deep and machine learning. Apart from this, a lot of companies have been using this technology to earn profit. On this note, lets have a look at some top performing ASX AI stocks for intelligent investing -

Houston We Have Limited (ASX:HWH)

Houston We Have Limited is an ASX listed prescriptive augmented intelligence firm.

During FY21, Houston entered into number of partnerships and agreements with leading business firms. It continued its services with the Australian Department of Defence that helped the company to increase its operating revenue by 49%.

 As per the company’s FY21 annual report for the year ended on 30 June 2021 –

  • The company reported 49% increase in its operating revenue that stood at AU$441,983 and the operating expenses totalled at AU$2.77 million.
  • Net assets of the group also witnessed an increase from AU$3.12 million in FY2020 to AU$9.83 million.

On Wednesday, the company announced to re-brand its parent entity in corporate group to ECHO IQ at AGM on November 29, 2021. 

On 22 October, HWH shares were trading at AU$0.165 with a market cap of AU$68.06 million at 1:04 PM AEDT.

SENSEN NETWORKS LIMITED (ASX:SNS)

The ASX listed Sensen Network combines video analytics with artificial intelligence. Sensen has been recently awarded a contract by Australia’s National Heavy Vehicle Regulator (NHVR) to deliver AI solutions.

RELATED READ - Trick or treat? ASX shares that are keeping investors on toes today 

business performance

Representative Image Source: © Jirsak | Megapixl.com ,

The company delivered strong financial performance on the back of record-breaking revenue. As per its FY21 annual report-

  • The company achieved a revenue growth of 47% on year-on-year proforma basis at AU$5.53 million.
  • It has delivered annual recurring revenue (ARR) of AU$2.67 million.

Under its FY22 guidance, the company expects a 140% YOY ARR growth for FY22. The company expects an estimated customer net retention rate of over 120% for FY22.

On 22 October, SNS shares were trading at AU$0.145 with a market cap of AU$78.04 million at 1:04 PM AEDT.

RELATED READ - From Kogan to Bapcor: What moved these 5 ASX stocks today?

BRAINCHIP HOLDINGS LTD (ASX:BRN)

Brainchip Holdings is an ASX listed global technology company that develops advanced neural networking processor offering AI neural networks, software, and other digital solutions.

Business graph

Representative Image Source: © Jirsak | Megapixl.com

As per its 1H21 Financial report for the half year ended on 30 June 2021–

  • The company has reported record revenue of US$767,545, up 5629% from the prior corresponding period.
  • Company’s operating losses have declined by 36% to US$8.43 million and the net tangible assets stood at US$0.97 cents per share.

On 22 October, BRN shares were trading at AU$0.467 with a market cap of AU$804.28 million at 1:04 PM AEDT.

Volpara Health Technologies Limited (ASX:VHT)

Volpara Health Technologies is a digital health solutions developer. According to its Q2FY22 buisness update, Volpara has booked total annual recurring revenue (ARR) of US$20.4 million supported by record quarterly sales.

The company has collaborated with leading AI leaders in the field of lung cancer – ReveaIDX and Reverian . It has also collaborated with Natera, entering a genetic collaboration.

VHT expects to exceed its FY22 revenue by NZ$25 million.

On 22 October, VHT shares were trading at AU$1.255 with a market cap of AU$314.19 million at 1:04 PM AEDT.

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