Monday was not the start to the week that investors were probably hoping for. By the time the closing bell belted out its chime, the S&P/ASX All Ords Index (ASX: XAO) had taken a 2% beating to the downside.
Not even the release of earnings reports could stir up excitement for many ASX shares. In fact, in some cases, it had the opposite effect. For some companies, the results weren't sufficiently up to scratch to prevent shareholders from hitting the 'sell' button.
Here are three ASX All Ords shares that fell into the negative following their FY22 results today.
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These ASX All Ords shares failed to impress
Impedimed Limited (ASX: IPD)
The market shaved 4.2% off the Impedimed share price on Monday to finish at 6.8 cents per share. It seems a 26% increase in revenue to $10.6 million in FY22 wasn't enough to satisfy shareholders. The medical device company derived $9.9 million of its total revenue from its SOZO platform.
Notably, Impedimed now has involvement with 16 of the top 25 integrated delivery networks. However, the focus might have been on the company's continuing cash burn.
In FY22, Impediment chewed through $15.7 million operationally. Although, $42.5 million was added to the balance sheet through the issuing of new shares.
Objective Corporation Limited (ASX: OCL)
Another ASX All Ords share to suffer at the hands of the market today was Objective Corporation. The software company revealed a solid result for the 12-month period, posting gains across all key financial metrics. Yet, the Objective share price was sold down 4.24% to $15.80 apiece.
The company put up a respectable 12% increase in revenue, reaching $106.5 million in FY22. Meanwhile, net profit after tax (NPAT) grew at an even faster pace, up 31% to $21 million. In addition, dividends lifted 22% to 11 cents per share.
Race Oncology Ltd (ASX: RAC)
Finally, Race Oncology makes up the red trifecta of ASX All Ords shares in this list. The $335 million oncology treatment developer failed to attract buyers on Monday despite remarkable top-line growth.
According to its results, Race notched up revenue by a staggering 186% compared to the prior year. In turn, the company generated $53.9 million of revenue from ordinary activities. However, this was paired with widening losses on the bottom line. Total losses expanded to $11.2 million for the 12-month period compared to $6.3 million in FY21.
The Race Oncology share price finished at $2.03, down 2.9% for the day.
