ASX Tech Stocks: SOV jumps out of halt with 24pc gain in the wake of NextDC investment

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  • SOV commences trading after completion placement to NextDC
  • Whispir says FY22 revenue now forecast between $64-68 million
  • Envirosuite nabs two strategic deals with GHD

 

Up 24.6% today was Sovereign Cloud Holdings (AUCloud), which returned to the boards with a bang following a 2-day trading halt.

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The company announced the successful completion of its placement to NextDC (ASX:NXT) which bought a 19.99% stake for over $12 million.

SOV (AUCloud) offers cybersecurity services targeting the Australian government, the Defence Force and critical national industries.

The company also completed the institutional component of its fully underwritten 4 for 11 accelerated pro-rata non-renounceable entitlement offer of new fully paid ordinary shares in AUCloud.

The combined proceeds of the placement and the entitlement offer will be around A$35 million – excluding estimated transaction costs.

 

The cloud communications platform was up 11.5% today.

Whispir released its FY22 guidance update, forecasting full year revenue for the year ending 30 June 2022 (FY22) to be in the range of $64-68 million.

This would be an improvement on revenue for FY21 of between 34% and 42%, and an improvement on prior guidance of between 11.9% and 13.0%.

Guidance for EBITDA for FY22 is forecast to be in the range of $13.2 million to $11.2 million – an improvement on previous guidance of between 13.8% and 14.8%.

Whispir says its well positioned for growth in FY22, predicated by its book of long-term, blue-chip clients and several new business wins, including a sizeable customer in North America.

“Our updated guidance also highlights the valuable role we’re playing in the delivery of COVID specific communications across our install base,” founder and CEO Jeromy Wells said.

“Our ‘return to work’ and ‘vaccine roll-out’ campaigns are clearly benefiting our top-line and they also provide an increased opportunity, for up-sell and cross-sell, introducing our platform, and our products, to an expanding customer base.”

 

The environmental technology platform was up 3.5% today.

Envirosuite has announced two strategic agreements with GHD to implement and scale the EVS Water solution for water facilities, and to leverage GHD’s global network to refer EVS Water to prospective clients.

The company says the facilitates a step-change in the roll-out of its pure SaaS, high margin product suite into a $2.8 billion serviceable addressable market (SAM).

Envirosuite expects the GHD relationship to be significant to EVS Water for the 2022 calendar year because of the value of securing a relationship with a company established in the water industry, opening a new sales channel and assisting the company to scale its operations at a level it would not be able to achieve on its own.

The contracts do not specify minimum revenue or referral targets, but the company says that each site that is brought in via this new channel demonstrates both the market fit and long-term viability of the EVS Water products.

 

Unchanged today was IXUP.

The company has just entered the New Zealand market via a two-year partnership with Beyonde Ventures Pty Ltd, who provide specialty marketing services in relation to customer loyalty programs.

The companies will offer a jointly developed ‘IXUP powered’ innovative loyalty and co-marketing platform, with Beyonde to utilise IXUP’s market leading secure data engine to deliver privacy enhanced, secure and personalised loyalty offers for and between its loyalty program clients.

ICUP said the partnership is expected to be a key driver of the company’s commercialisation efforts in the short term.

Beyonde will also establish a New Zealand instance of the IXUP Platform to meet any client data sovereignty requirements; will take on the role as IXUP’s Partner and Master Reseller for the New Zealand market; and will provide a Software-as-a-Service (SaaS) and Platform-as-a-Service (PaaS) offering of the IXUP Secure Data Engine.

 

Also unchanged in early morning trade was Janison.

Janison has just acquired the largest independent schools’ assessment business in Australia – Academic Assessment Services Pty Ltd (AAS) – for an upfront consideration of $9 million and an earn-out agreement of approximately $8 million.

AAS will provide a suite of premium K-12 assessment content of approximately 15,000 test items that augments and extends Janison’s existing libraries, as well as providing opportunities to extend the company’s exam management services and cross-sell other products, the company said.

Notably, AAS grew its revenue by around 29% in FY21 through growth in customer acquisition – despite COVID-19 headwinds.

The acquisition is expected to complete on or around 25 November 2021.



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