ASX Tech Winners in February: Envirosuite and Spacetalk Shine Despite Market Concerns and Sector Downturn

March 03, 2025 04:00 PM PST | By Team Kalkine Media

ASX Tech Winners in February: Envirosuite and Spacetalk Shine Despite Market Concerns and Sector Downturn — Image source: Shutterstock

Impact on Australia's ASX Tech Sector

The ripple effects of US economic conditions were felt in Australia, particularly in the ASX tech sector, which saw a 12% drop in February. Investors shifted their focus from tech to more defensive sectors like utilities and staples as concerns over the US economy grew. Major tech entities such as WiseTech Global (ASX:WTC), NextDC (ASX:NXT), and Xero (ASX:XRO) experienced significant declines.

Standout Performers in ASX: EP&T Global, Envirosuite, and Spacetalk

Despite the broader market setbacks, some tech firms showcased resilience and growth. EP&T Global (ASX:EPX) reported a 16% increase in annual contract value and a significant reduction in its EBITDA loss, signaling progress towards profitability.

Envirosuite (ASX:EVS) demonstrated strong growth with a 9.5% rise in annual recurring revenue, notably through its advancements in carbon optimization solutions for aviation, sparking interest from NAV Canada.

Spacetalk (ASX:SPA), focusing on family safety tech, reported a 16% increase in recurring revenue and a substantial 54% rise in paid mobile subscribers. The company is ambitious, setting its sights on new product developments to expand its service offerings further.

February proved to be a challenging month for markets worldwide, with significant impacts felt across various sectors. While many tech companies on the ASX faced adversity, remarkable growth stories emerged from companies like EP&T Global, Envirosuite, and Spacetalk, underscoring the potential for resilience and innovation amidst market turbulence.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media LLC (Kalkine Media, we or us) and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures/music displayed/used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it, as necessary.