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 to between $22.0 million and $24.0 million, slightly lower than previous expectations but still ahead of last year’s $20.5 million. The full audited results will be available on 28 February 2025.
ImpediMed Limited (IPD)
Market cap: $103.3 million
Share price movement: +2.0%
ImpediMed has successfully secured a US$15 million growth capital facility from SWK Funding LLC, aimed at enhancing its funding flexibility to support growth and commercialization activities. The funding will bolster ImpediMed’s strategy to capitalize on opportunities related to its SOZO digital health platform, which is focused on fluid and body composition assessment. The agreement includes terms such as a 5-year maturity, an interest-only period, and a structured repayment plan. ImpediMed’s leadership expressed confidence in this partnership, emphasizing the importance of this funding for achieving long-term goals while preserving shareholder value. The company, which utilizes bioimpedance spectroscopy technology, aims to improve patient outcomes in various health conditions, including lymphoedema.
Findi Limited (FND)
Market cap: $224.8 million
Share price movement: +3.6%
Findi Limited has secured a contract with Union Bank of India (UBI) to deploy an additional 900 ATMs across India over the next seven years, with a potential extension for one more year. The deployment will occur over six months and is expected to add approximately A$10 million to A$11 million in annual revenue and A$4.5 million to A$5 million in annual EBITDA. The project will be funded through internal resources and bank facilities, and marks a significant achievement for Findi’s subsidiary, Transaction Solutions International (TSI). With this contract, Findi will expand its total number of brown label ATMs to 8,900, while also planning to enhance its white label ATM services in India.
Eureka Group (EGH)
Market Cap: $258.8 million
Share price movement: +0.8%
Eureka Group has announced its acquisition of a mixed-use residential home village and caravan park in Gladstone, Queensland, for $4.5 million. This acquisition includes 109 lots and is part of Eureka’s strategy to expand into the all-age rental market due to the increasing demand for affordable housing in Australia, where home ownership is declining. The company plans to convert 28 caravan sites into rental villas, aiming for a stable yield exceeding 12%. With the Gladstone region being a key employment hub, Eureka anticipates this investment will serve essential workers and retirees. The acquisition is funded through a recent capital raising and is expected to settle on March 13, 2025.
Micro-X Ltd (MX1)
Market Cap: $45.5 million
Share price movement: trading halt
Micro-X Ltd, an Australian hi-tech company specializing in cold cathode x-ray technology, has announced a strategic partnership with Billion Prima, a Malaysian manufacturer of scanning solutions. This partnership includes a strategic equity investment of A$2.4 million by Billion Prima at a $0.09 (15% premium to Micro-X’s share price) and a A$3.2 million commercialization project aimed at developing a new baggage and parcel scanning unit. Billion Prima will have exclusive rights to manufacture and sell this scanner in South-East Asia for 20 years. Micro-X retains ownership of its core intellectual property and will benefit from future revenue opportunities as it continues to explore other partnerships in the security sector. This collaboration marks a significant step for Micro-X in monetizing its security technology and expanding its market reach.
Alongside the placement to Billion Prima, MX1 also launched a $6.0 million capital raising via a $2.0m placement and a $4.0 entitlement offer at $0.07, a 10.4% discount to the current share price. The capital is intended to bolster Micro-X’s focus on medical imaging and ensure cash flow stability. This strategic shift will allow the company to monetize its security applications through partnerships while pursuing new opportunities in the medical imaging sector.
360 Capital Mortgage REIT (TCF)
Market Cap: $32.0 million
Share price movement: -1.0%
360 Capital Mortgage REIT announced its financial results for the half-year ended December 31, 2024. The REIT reported significant operational and financial highlights, including a total of $23.1 million lent in the first half of FY25, all backed by registered first mortgages. The key metrics revealed a strong loan portfolio consisting of five loans secured by 55 individual mortgages, with an impressive 95.9% in senior first mortgage investments, an average loan to value ratio (LVR) of 68.9%, weighted average interest rate of 11.6% and average yield to maturity of 8 months. The financial outlook appears robust, with upgraded earnings and distribution guidance for FY25 to 60 cents per unit, reflecting a 33.3% increase over FY24 and a 10.2% forward distribution yield. Interestingly, although the trust already raised $8.85 million in equity in December, the company has shareholder approval to raise a further $11.1 million before 20 March 2025, the announcement hinted at a a further raise at net asset value in the second half.
About the author
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 […]
Related
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 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 […]
ASX Small Cap News 4 February 2025
The Australian market failed to find much direction after a night of tariff jitters and closed near flat. However, things were a bit more positive at the lower end of the market with the Small Ordinaries Index closing 0.32% higher and the Emerging Companies Index 1.18% higher. OncoSil Medical Ltd (OSL) Market Cap: $32.3 million Share price movement: +40% OncoSil Medical Limited has announced that 120 German hospitals are now authorized to negotiate funding for their OncoSil pancreatic cancer treatment device under Germany’s innovation funding program (NUB). The device targets locally advanced pancreatic tumors using Phosphorous-32 (32P) and is administered with chemotherapy for enhanced effectiveness. This marks a 43% increase from 2024, reflecting growing demand and acceptance of the device in the German healthcare system. The OncoSil device, which administers a targeted treatment for unresectable pancreatic cancer, has received significant […]
