The day is Thursday, 30th of January 2025. Let’s take a look at what moved markets in ASX Small Caps.
Alterity Therapeutics (ATH)
Market Cap: $96m
Price movement: 125%
Alterity Therapeutics (ATH) announced “clinically meaningful” result of a Phase II clinical trial for a drug that is designed to slow degeneration of the brain in those with diseases such as Parkinson’s disease. After 52 weeks in a placebo-controlled trial, the study demonstrated a statistically significant improvement in functional living ability in those with early stage multiple system atrophy (MSA). As there are currently no other treatments that have the same effect, the news was received well by the market, sending the stock up 125% on the day.
Way 2 VAT Limited (W2V)
Market Cap: $8m
Price movement: 28%
Way 2 Vat released a strong quarterly update with quarterly revenue up 49% year on year to $1.49m, quicker than the trailing twelve months growth rate, demonstrating an acceleration in growth. The growth has come from expanding current relationships and bylanding new large enterprise customers such as San Miguel, Sungrow, and a multi-national real estate services company. Further, post the end of the quarter the company also noted that operating expenses have been reduced by 20% on an annual run rate basis. The Appendix 4C disclosed that the company lost $1.15m in cash for the quarter but reassured the market by raising a further $1.3m convertible note, for the second time this month.
Oncosil Medical (OSL)
Market Cap: ($32m)
Price Movement: 16.6%
Oncosil Medical (OSL) released their Quarterly Appendix 4C, registering a $2.98m cash outflow for the quarter, about the same as the prior quarter. Positively, cash receipts increased from $63,000 in 1Q25 to $339,000 in 2Q25, which helped to send the price upwards 16%.
The Company also announced 3 major distribution agreements for the Oncosil brachytherapy device, which is used to treat pancreatic cancer, in the Gulf of Arabia, he Nordic countries, and Egypt. Further, the company
Acusensus Limited (ACE)
Market Cap: $165m
Price Movement: +9.8%
Acusensus released their Appendix 4X and quarterly update to the ASX today, reporting cash inflows of $14.2m and net cash from operating activities of $5.1m. ACE continued their momentum, reporting another record quarter of revenue of $14.6m.
Along with the 4C, ACE gave an operational update, announcing an extension to the NSW Transport Speed Camera contract, an extension to the Queensland Department of Transport contract (5 year additional value of $27.5m), a new contract with New Zealand Transport Agency Waka Kotahi (valued at NZ$92m over 5 years) to supply mobile speed cameras nationwide, and a WA Road Safety Commission contract for a value of $9.4m over 3 years.
Intelligent Monitoring Group (IMB)
Market Cap: $179m
Price movement: +7.5%
Intelligent Monitoring Group reported their Appendix 4C and quarterly update. The Company disclosed cash flow from operations of $0.49m for the quarter and $1.25m for the half. However, excluding some significant one-off items operating cash flow for the half would have been $7.9m.
Despite revenue only increasing 3%, adjusted EBITDA increased by 20% (excluding acquisitions). This was largely a result of the cost out programme that is concluding.
Change Financial (CCA)
Market Cap: $53m
Price movement: 3%
Change Financial (CCA) report strong growth in customer receipts on their quarterly Appendix 4C release. Cash receipts increased 103% to US$3.7m (A$5.9m) (the company reports in USD). For the half, unaudited revenue was US$7.2m (A$11.4m), up 61%. Despite this growth in revenue, CCA still posted a cash outflow from operating activities of $199,000 and $363,000 for the half. Positively, there remains plenty of cash in the chest (US$3.5m) to continue to fund the business as management seeks further scale.
During the quarter the company made the decision to exit the loss-making US segment, which will no doubt help with the cash outflows. However, CCA also expanded their presence in the New Zealand market with the securing of a new customer: a wealth management platform boasting over 500,000 customers.
Change offers a payments platform including card issuing, transaction processing, digital payments, buy now pay later, and payments as a service.
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ASX Small Cap News 19 February 2025
Another full day of earnings season today with plenty of action. Here is just a snippet of a few interesting reports and announcements. Emeco Holdings (EHL) Market Cap: $466.5m +4.8% Emeco reported strong financial and operational results for the first half of FY25. The company’s revenue, excluding underground contract mining, increased by 11% compared to 1H24. Operating EBITDA rose to $145.8 million, a 6% increase, while Operating EBIT reached $68.3 million, up 13%. The EBITDA margin improved from 32% to 38%, and the EBIT margin increased from 14% to 18%. Operating NPAT was $38.3 million, a 15% rise, and statutory NPAT was $33.6 million, a significant 73% increase. Emeco’s cash flow also saw a 22% increase, reaching $48.8 million, with a cash flow conversion rate of 94%. The company’s return on capital improved to 16%, and its leverage ratio decreased […]
ASX Small Cap News 18 February 2025
BSA Limited (BSA) Market Cap: $12 million Share price movement: -86% BSA Limited has been informed by NBN Co that it has not been selected as a preferred tenderer for the new NBN Field Services Contract, making an award highly unlikely. BSA, which has been pursuing this tender in collaboration with UGL, remains prepared for various outcomes while assessing the impact of this development. The existing NBN Unified Field Operations contract, set to expire on 30 September 2025, continues without volume guarantees, but BSA has not yet received notifications regarding volume changes. This NBN contract is critical for BSA, accounting for approximately 80% of its revenue for FY2024. The reaction was savage and the company lost most of its value on the news. Related, NAOS Small Cap Opportunities Company (NSC), a listed investment company that owns 31% of BSA, was […]
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ASX Small Cap News 7 February 2025
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ASX Small Cap News 6 Febrary 2025
It was another strong day for equities today, led by discretionary, financials, and gold. This lifted the large caps more than the smaller end with the ASX 200 up 1.23% compared to the Small Ordinaries up 0.56% and the Emerging Companies Index up 0.90%. Here's what made news today. SOCO Corporation Ltd (SOC) Market Cap: $12.7 million Share price movement: -27.2% SOCO released its preliminary unaudited first-half revenue for FY2025 at $11.0 million, marking an increase from $9.3 million in the same period last year. Despite a strong start with $18 million in contracts signed by October 2024, project delays and a decline in demand from Federal Government clients have impacted performance. The company is working to diversify its client base, particularly in Victoria and Queensland, and remains optimistic about resuming delayed projects. Forecasts for FY2025 revenue have been adjusted […]
ASX Small Cap News 5 February 2025
ASX small caps posted another solid day on the bourse with the Small Ordinaries recording a 1.25% gain while the Emerging Companies Index lifted 1.2%. This outshines the smaller gain by the ASX 200 of 0.51%. Kelly Partners Group Limited (KPG) Market Cap: 462.5 million Share price movement: -12.2% Kelly Partners reported a 22.8% increase in 1H25 revenue, reaching $64.9 million, up from $52.9 million in 1H24. Underlying NPATA attributable to the Kelly + Partners parent group rose by 12.0% to $4.9 million. KPG continues its quest to become a premier global accounting firm for private business owners and now has operations in Australia, Hong Kong, India, and the USA, where US partnerships contribute approximately 12.2% to 15.2% of the group’s revenue. In this vein, KPG has launched initiatives such as an undergraduate program and a digital client app to […]
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ASX Small Cap News 19 February 2025
Another full day of earnings season today with plenty of action. Here is just a snippet of a few interesting reports and announcements. Emeco Holdings (EHL) Market Cap: $466.5m +4.8% Emeco reported strong financial and operational results for the first half of FY25. The company’s revenue, excluding underground contract mining, increased by 11% compared to 1H24. Operating EBITDA rose to $145.8 million, a 6% increase, while Operating EBIT reached $68.3 million, up 13%. The EBITDA margin improved from 32% to 38%, and the EBIT margin increased from 14% to 18%. Operating NPAT was $38.3 million, a 15% rise, and statutory NPAT was $33.6 million, a significant 73% increase. Emeco’s cash flow also saw a 22% increase, reaching $48.8 million, with a cash flow conversion rate of 94%. The company’s return on capital improved to 16%, and its leverage ratio decreased […]
ASX Small Cap News 18 February 2025
BSA Limited (BSA) Market Cap: $12 million Share price movement: -86% BSA Limited has been informed by NBN Co that it has not been selected as a preferred tenderer for the new NBN Field Services Contract, making an award highly unlikely. BSA, which has been pursuing this tender in collaboration with UGL, remains prepared for various outcomes while assessing the impact of this development. The existing NBN Unified Field Operations contract, set to expire on 30 September 2025, continues without volume guarantees, but BSA has not yet received notifications regarding volume changes. This NBN contract is critical for BSA, accounting for approximately 80% of its revenue for FY2024. The reaction was savage and the company lost most of its value on the news. Related, NAOS Small Cap Opportunities Company (NSC), a listed investment company that owns 31% of BSA, was […]
ASX Small Cap News 17 February 2025
Results season is in full swing on the ASX as we enter the second half of February. We detail some of the most interesting results that were released from small caps on the ASX. Audinate Group Limited (AD8) Market Cap: $799.3m Share price gain: +26.5% Audinate's result handsomely beat expectations of the market despite challenges arising from OEM inventory overstocking. For first half 2025 period, Audinate reported a gross profit of US$16 million, a 29% decrease compared to the same period last year, largely due to reduced demand for hardware products. However, the company saw an improvement gross profit margin from 72% to 82%, driven by a shift towards higher-margin software solutions. The CEO, Aidan Williams, expressed confidence in the company’s business model and ongoing investments in both audio and emerging video software markets. Key metrics showed 61 design wins […]
ASX Small Cap News 7 February 2025
The market struggled for direction today with large caps closing not far above flat and the Small Ords gave up early gains to finish only 3 basis points ahead of yesterday's close. The micro cap end, represented by the Emerging Companies Index fared a little better, ending 40 basis points in the green. Here's what made news today in ASX Small caps. ikeGPS Group Limited (IKE) Market cap: $116.5 million Share price movement: +29.5% ikeGPS Group announced that it has discontinued discussions regarding a previously unannounced and unsolicited acquisition approach from a credible private equity group. The proposed acquisition was to buy 100% of IKE’s shares at an indicative offer of approximately NZ$1.00 per share, representing a significant premium of over 62% based on IKE’s share price as of February 5, 2025. However, the board did not believe that this […]
ASX Small Cap News 6 Febrary 2025
It was another strong day for equities today, led by discretionary, financials, and gold. This lifted the large caps more than the smaller end with the ASX 200 up 1.23% compared to the Small Ordinaries up 0.56% and the Emerging Companies Index up 0.90%. Here's what made news today. SOCO Corporation Ltd (SOC) Market Cap: $12.7 million Share price movement: -27.2% SOCO released its preliminary unaudited first-half revenue for FY2025 at $11.0 million, marking an increase from $9.3 million in the same period last year. Despite a strong start with $18 million in contracts signed by October 2024, project delays and a decline in demand from Federal Government clients have impacted performance. The company is working to diversify its client base, particularly in Victoria and Queensland, and remains optimistic about resuming delayed projects. Forecasts for FY2025 revenue have been adjusted […]
ASX Small Cap News 5 February 2025
ASX small caps posted another solid day on the bourse with the Small Ordinaries recording a 1.25% gain while the Emerging Companies Index lifted 1.2%. This outshines the smaller gain by the ASX 200 of 0.51%. Kelly Partners Group Limited (KPG) Market Cap: 462.5 million Share price movement: -12.2% Kelly Partners reported a 22.8% increase in 1H25 revenue, reaching $64.9 million, up from $52.9 million in 1H24. Underlying NPATA attributable to the Kelly + Partners parent group rose by 12.0% to $4.9 million. KPG continues its quest to become a premier global accounting firm for private business owners and now has operations in Australia, Hong Kong, India, and the USA, where US partnerships contribute approximately 12.2% to 15.2% of the group’s revenue. In this vein, KPG has launched initiatives such as an undergraduate program and a digital client app to […]
