Although the market has sunk lower today, a number of small-cap shares have managed to push notably higher.
Here's why these small-cap shares are finishing the week on a high:
The Audinate Group (ASX: AD8) share price is up 4% to $2.99 following the release of its quarterly update. The media networking technology developer recorded cash collections of $4.8 million in the second-quarter and positive operating cash flow of approximately $1.3 million. This brings its first-half cash collections to $9.3 million and improves its operating cash flow to negative $0.2 million. The launch of several new products could put the company in a position to deliver an even stronger second-half. I think Audinate could be worth delving deeper into.
The Redbubble Ltd (ASX: RBL) share price has jumped almost 7% to $1.49 after the ecommerce company provided the market with an update on its first-half performance. For the first-half of FY 2018 Redbubble reported revenue of $102.3 million, up an impressive 30% on the prior corresponding period. As a result of this strong first-half, management is confident that the company is on track to achieve its top-line growth and EBITDA guidance for FY 2018. I've been impressed with Redbubble's performance this year. If it can keep this up then it may have a very bright future ahead of it.
The Yowie Group Ltd (ASX: YOW) share price has climbed almost 7% to 16 cents after releasing its quarterly update. For the quarter ending 31 December 2017, the company generated net sales growth of 23% on the previous corresponding period. Pleasingly, management reaffirmed its full-year sales growth guidance of 17%. This growth guidance was, however, recently downgraded from 55% after the company suffered a slowdown in sales in North America. Due to the company's habit of falling short of guidance or downgrading it, I wouldn't be a buyer of Yowie's shares.
