31st of January brings us to the end of the Appendix 4C season for those companies required to do so. It also opens the door to reporting season, which will begin on Monday and will see most of the ASX-listed companies release their half-yearly or annual report. Here’s what was interesting in ASX small caps.
Medical Developments (MVP)
Market Cap: $74.9m
Share price movement: 51.1%
Medical Developments International Limited has released its quarterly cash flow report for the period ending December 31, 2024, showing significant improvements in operating cash flow and revenue. The company reported $10.9 million in revenue for Q2 FY25, an increase of $1.8 million from the previous quarter, driven by higher demand for its pain management product, Penthrox. The cash flow from operating activities was $1.9 million, indicating a strong recovery compared to previous periods. The company ended the quarter with a cash balance of $17.6 million and expects to achieve positive operating cash flow by the end of FY25. Strategic priorities include enhancing pricing and efficiency, increasing Penthrox penetration in Australia and Europe, and expanding its market presence.
Simonds Group (SIO)
Market Cap $72.0m
Share price movement: 33.3%
Simonds Group Limited (SIO) announced the acquisition of Dennis Family Homes (DFH) for $10 million, bolstering its position in the residential construction market. This strategic move is aimed at expanding Simonds’ operational scale and product offerings, adding about 300 ongoing construction jobs and 500 in the forward order book. The acquisition is expected to add $200 million in new revenue and drive operational synergies to enhance profitability of the combined group.
With over 100 new home designs included in the acquisition, Simonds anticipates significant growth, particularly in Victoria and New South Wales. The acquisition will be funded entirely through cash, with no need for shareholder or regulatory approvals. Completion is expected by early March 2025, promising to bolster Simonds’ market presence and operational capabilities.
1414 Degrees Limited (14D)
Market Cap $8m
Share price movement: 22.7%
1414 Degrees Ltd (ASX: 14D) released its quarterly activity report for December 2024, highlighting significant advancements in its affordable hydrogen project and energy storage technologies, including SiBox and SiPHyR. The company’s SiBox technology is poised to become a leading solution for providing high-temperature heat using renewable energy. It is progressing towards large-scale installations, while SiPHyR has successfully demonstrated hydrogen and solid carbon production from methane, showcasing its potential for low-emission solutions.
The company is fully funded for commercializing its innovations and has appointed a new General Manager of Operations to enhance efficiency. Progress in manufacturing SiBrick and transitioning industrial processes to renewable energy is underway, with notable international outreach, particularly in India. Despite challenges in securing commercial agreements and recent capital raisings affecting share prices, 1414 Degrees remains optimistic about its unique position in the energy transition market, focusing on supplying renewable energy solutions for high-temperature industrial processes.
BCAL Diagnostics Limited (BDX)
Market Cap: $38m
Share price movement: 12.9%
BCAL Diagnostics Limited, an Australian breast cancer screening and diagnostic company, released its quarterly activities report for the quarter ending 31 December 2024. The CEO, Shane Ryan, announced that the company is set to launch its non-invasive blood test to detect breast cancer, BREASTEST®, in Q1 CY25, starting at the Sydney Breast Clinic. Key achievements include receiving NATA accreditation for its lab, acceptance of an Australian patent for BREASTEST®, and a $2.6 million R&D tax offset from the government. The company aims to expand its oncologist network in Australia and the US and is preparing for regulatory approval to start generating revenue. BCAL’s cash balance at the end of the quarter was $7.0 million, and it aims to secure partnerships to maximize the test’s reach.
Elsight Limited (ELS)
Market Cap: $58.8m
Share price movement: 10.2%
Elsight Limited reported strong performance in its 2024 Annual and Q4 report, achieving a 32% increase in revenue to over $2 million, driven by a significant rise in defense sector contributions, which now account for 51% of total revenue. The company experienced an 83% increase in recurring revenue, landed seven new Design-Win customers in Q4, and secured significant orders from existing defense contractors. Notable developments included the successful completion of a pipeline patrol by Phoenix Air Unmanned and the signing of a distributor agreement with Tukom in the DACH region. Elsight anticipates further growth in 2025, fueled by a promising sales pipeline and ongoing product development, while successfully converting all convertible notes to eliminate debt.
Lumos Diagnostics (LDX)
Market Cap: $24.7m
Share price movement: -17.5%
Lumos Diagnostics reported their Appendix 4C quarterly update with unaudited revenues of US$2.9 million, a 71% increase from the previous year. The cash flow report showed US$1.9m in cash receipts and a US$3.7m operating cash outflow. Lumos ended the quarter with US$5.5m in the bank. Product revenues surged by 200%, primarily driven by ViraDx sales, while service revenue grew by 53%. The company successfully completed a capital raise of A$6.9 million and entered into a partnership with BARDA, securing US$3.0 million for the FebriDx CLIA waiver trial. The approval of the CPT PLA code for FebriDx at US$41.38 per test is expected to enhance reimbursement and accessibility. The company aims to expand its market reach and improve product adoption through strategic partnerships and successful clinical trials.
Pointbet Holdings Limited (PBH)
Market Cap: $283.6m
Share price movement: -12.8%
PBH released a quarterly cash flow report and update, recording $69.9m in customer cash receipts and operating cash from activities of $3.2m. PointsBet achieved a stable net win of A$69.9 million, and a record high of 292.6k cash active clients. The Income statement showed revenue growth of 6% to $124m and a significant improvement in normalised EBITDA from negative $13.3m to negative $3.3m.
MoneyMe Ltd (MME)
Market Cap: $176.0m
Share price movement: -4.4%
MONEYME released its 2Q25 trading update, highlighting substantial growth in loan originations and a strong loan book. The company’s loan book increased 21%, reaching $1.4 billion, with a 54% increase in loan originations year-over-year, driven by strong demand for its Autopay product. Despite stable revenue at approximately $50 million, net credit losses improved to 3.7%, indicating enhanced portfolio quality due to a shift towards secured lending, which now constitutes 60% of its loan book. Additionally, MONEYME secured significant funding through a $125 million corporate debt facility and a $517.5 million asset-backed securities deal, bolstering its growth capacity. The introduction of a generative AI application aims to enhance customer service efficiency. The company plans to launch a revamped credit card product and anticipates benefits from expected cash rate cuts.
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ASX Small Cap News 19 February 2025
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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
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ASX Small Cap News 17 February 2025
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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 […]
