Unfortunately, these results are being received very differently, with one stock charging higher and the other tumbling into the red.

Let's see what they have reported:

Credit Clear Ltd (ASX: CCR)

The Credit Clear share price is up almost 3.5% to 31 cents on Wednesday morning.

It is a technology company that has developed a digital billing and communication platform that helps organisations drive smarter, faster, and more efficient financial outcomes. This is by changing the way customers manage their re-payments through a user experience that the market demands in a digital age.

The ASX tech stock reported a 20% increase in revenue to a record of $42 million. This was driven by the company winning more wallet share from existing clients and the addition of new clients.

Credit Clear's underlying EBITDA came in at $4.2 million, which is up materially from $200k a year earlier.

The good news is that more growth is expected in FY 2025. Management is guiding to revenue of $48 million to $50 million and $7 million in underlying EBITDA.

Credit Clear's CEO, Andrew Smith, said:

Record revenue and a controlled cost base have helped to achieve and exceed our Underlying EBITDA guidance provided to the market. Our growth during the year overcame the seasonality of the Q2 and Q3 quarters, and we have seen the expected uplift in the seasonally stronger Q4, with record revenue of $11.5m.

Weebit Nano Ltd (ASX: WBT)

The Weebit Nano share price is down almost 3.5% to $2.01. It is a developer and licensor of advanced memory technologies for the global semiconductor industry.

It released its full year results today. For the 12 months ended 30 June, the ASX tech stock achieved revenue of $1 million and a whopping loss after tax of $41.25 million. Management advised that this loss mainly reflects the research and development activities of the company, as well as marketing, business development, and administration costs.

Despite its abject financial performance and competition with absolute titans, the company's chair, David Perlmutter, remains positive on its outlook. He said:

Despite our significant progress, FY24 has had its challenges. Factors beyond our control, such as missing IPs in SkyWater's foundry offering, have delayed licensing agreements with product companies wanting to manufacture at SkyWater, while complex technical evaluations and negotiations with more than a dozen leading foundries and Integrated Device Manufacturers (IDMs) have taken longer than expected to finalise.

These short-term challenges have not dampened our confidence or outlook, and we continue to focus on closing agreements and targeting new licensing deals this calendar year. Each new foundry licensing agreement increases the urgency for other foundries to add ReRAM to their IP portfolios.

The post Here's how investors are responding to these ASX tech stocks' results today appeared first on The Motley Fool Australia.

Four ASX shares that are not letting that hold them back are listed below. Here's why they are rising today:

Capitol Health Ltd (ASX: CAJ)

The Capitol Health share price is up 15% to 28.2 cents. This morning, this diagnostic imaging company announced that it had accepted an offer from Integral Diagnostics Ltd (ASX: IDX). The latter tabled a merger offer with an implied exchange ratio of 0.12849 Integral Diagnostics shares for every Capitol Health share. This equated to an offer of 32.6 cents per share, which represented a 33% premium to Friday's closing prices. Management intends to recommend the offer to shareholders, subject to a number of conditions.

Capricorn Metals Ltd (ASX: CMM)

The Capricorn Metals share price is up 4.5% to $4.66. This appears to have been driven by a broker note out of Bell Potter. According to the note, the broker has retained its buy rating on the gold miner's shares with an improved price target of $6.53. Bell Potter made the move in response to news that Capricorn Metals has reduced its gold hedge book by 52,000 ounces. Bell Potter notes that the buyback of approximately half of its remaining hedge book mirrors the successful strategy of 2023, which resulted in a relative cash benefit of ~$13 million.

Credit Clear Ltd (ASX: CCR)

The Credit Clear share price is up 5% to 25.2 cents. This morning, this technology and debt collection provider announced that it was upgrading its guidance again. FY 2024 revenue is now expected to be at the upper end of the $40 million to $42 million guidance range. Whereas FY 2024 underlying EBITDA guidance is up from in excess of $3 million to in excess of $3.7 million. Management notes that this represents a ~23% increase in minimum expectations. It also notes that the guidance upgrade "reflects an improving underlying EBITDA margin, which is a key focus and expectation in the company's continued growth."

Telix Pharmaceuticals Ltd (ASX: TLX)

The Telix Pharmaceuticals share price is up 3.5% to $17.18. This may also have been driven by a broker note out of Bell Potter. At the end of last week, the broker upgraded the radiopharmaceuticals company's shares to a buy rating with a $19.00 price target. It believes that recent share price weakness has created a buying opportunity. The broker said: "The pullback represents an opportunity to buy the stock ahead of an exciting period of news flow over the second half of the CY24 which will include potential FDA approvals for Zircaix and Pixclara."

The post Why Capitol Health, Capricorn Metals, Credit Clear, and Telix shares are storming higher appeared first on The Motley Fool Australia.

It followed an equally good night over on Wall Street. The Dow Jones Industrial Average Index (DJX: .DJI) rose 1% while the S&P 500 Index (SP: .INX) lifted 1.4% and the Nasdaq Composite Index (NASDAQ: .IXIC) gained 1.8%.

Back home, the S&P/ASX 200 Information Technology Index (ASX: XIJ) led the way, rising 1.7% today.

Banks and mining companies also made the most of the day. The S&P/ASX 200 Financials Index (ASX: XFJ) and the S&P/ASX 200 Materials Index (ASX: XMJ) both rose 1.5%.

S&P/ASX 200 Real Estate Index (ASX: XJO) had the worse end of the stick, however, falling 0.2% on Thursday.

So, with all that covered, which ASX 200 share posted the biggest gain today? Let's take a look.

Top 10 ASX 200 shares countdown

The biggest gains on the index today came from uranium producer Paladin Energy Ltd (ASX: PDN).

Its share price gained 8.33% to close at 65 cents despite no news having been released by the company.

These shares made today's biggest gains:

Our top 10 shares countdown is a recurring end-of-day summary to let you know which companies were making big moves on the day. Check in at Fool.com.au after the weekday market closes to see which stocks make the countdown.

The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

Australia's fastest growing companies of 2022 have been identified and they include a few names Aussie investors are likely familar with.

So, which ASX shares have been posting massive growth lately? Keep reading to find out.

Fastest growing Aussie companies of 2022 crowned

It's been a big year for some notable ASX stocks – they've been included in the 2022 AFR Fast 100 list, with two coming in among the top 10 fastest growing Aussie companies of 2022.

The list is presented by the Australian Financial Review in association with Pemba Capital Partners and PwC. It encompasses 100 companies boasting a compound annual growth rate (CAGR) of as much as 330% between financial year 2020 and financial year 2022.

5 ASX shares among Australia's fastest growers

Which ASX share will give investors exposure to the fastest grower on the Aussie bourse this year? It's WISR Ltd (ASX: WZR).

The company has been crowned the fastest-growing ASX-listed entity, coming in seventh place on the AFR Fast 100 List. The fintech stock provides consumer finance products.

It posted $7 million of revenue in FY20, growing that to $59 million in FY22. Not to mention, it surpassed $1 billion in loan originations over the three months ended March 2022.

Next up is ASX digital marketplace operator Camplify Holdings Ltd (ASX: CHL). It came in as Australia's ninth fastest-growing company. The company connects owners of recreational vehicles with hirers.

Camplify's shares hit the ASX in June 2021. It boasted nearly $3 million of revenue in FY20. That figure grew to $16 million in FY22.

Another ASX newbie has joined Camplify on this year's list, with telco and internet service provider Pentanet Ltd (ASX: 5GG) taking out spot number 25. Pentanet floated on the exchange in January 2021.

The company brought in $5 million of revenue in FY20, growing that to $16.8 million in FY22.

Just two spots lower lies Credit Clear Ltd (ASX: CCR). The company is in the fintech business, providing receivables management solutions.

In FY20, the company brought in $11 million. By FY22, that had grown to $21 million.

Finally, drone detection software provider DroneShield Ltd (ASX: DRO) has been crowned Australia's 37^th fastest-growing company of 2022.

It posted around $11 million of revenue for the 12 months ended 31 December 2021. That was up from $5.6 million in the prior period.

The post 5 ASX shares for investing in the fastest growing Aussie companies of 2022 appeared first on The Motley Fool Australia.

Market sentiment has been mixed today, with the S&P/ASX 200 Index (ASX: XJO) printing a 0.22% loss at the time of writing.

But the S&P/ASX All Technology Index (ASX: XTX) has found its groove, jumping 1.43% in afternoon trade.

Here are three small-cap ASX tech shares making moves today after reporting full-year FY22 results.

Novatti Group Ltd (ASX: NOV)

The Novatti share price is holding its ground today as investors digest the payment company's FY22 results.

At the time of writing, Novatti shares are trading at yesterday's closing price of 20 cents apiece after earlier recording a 5% jump to 21 cents a share around midday. This gives the company a current market capitalisation of $68 million.

In FY22, Novatti generated record revenue of $32.6 million, almost double the prior year. This came on the back of four consecutive record quarters of revenue.

During the year, Novatti completed an $8 million acquisition of ATX, a Malaysian fintech company.

It also acquired a 19.9% strategic stake in accounting software company Reckon Limited (ASX: RKN).

These acquisitions and associated capital raisings meant that the company's share count increased by 38% in FY22.

Across the year, Novatti burned through $13.0 million of operating cash flows and delivered an expanded net loss of $16.6 million.

Ansarada Group Ltd (ASX: AND)

Unlike Novatti, the Ansarada share price is finding itself under pressure today, sliding 6% at the time of writing to $1.72.

The M&A software company handed in its FY22 results this morning, headlined by a 44% jump in revenue growth. 

However, some of this growth was acquisitive after Ansarada completed the acquisition of TriLine GRC in late October 2021.

The company's customer count now stands at 5,251, up 52% from 3,997 at the end of FY21.

Ansarada remains debt free and generated $12.6 million of adjusted cash flow from operations in FY22, up 38% from the prior year.

Despite the positive cash flow, Ansarada delivered a net loss of $8.6 million as the company continues to scale.

The company noted that M&A volumes peaked mid-year and have been subdued since, impacting the start of FY23. It expects deal volumes to recover in the second half of FY23.

Credit Clear Ltd (ASX: CCR)

Last but not least, Credit Clear is another small-cap ASX tech share reporting results today.

At the time of writing, the Credit Clear share price has climbed 2.53% to 40.5 cents. This bumps up the company's market cap to $119 million.

On the surface, the company delivered rapid top-line growth in FY22, with revenue up 95% to $21.4 million. However, the majority of this growth was acquisitive. 

In February, Credit Clear finalised the $46 million acquisition of ARMA, a provider of debt recovery solutions in Australia and New Zealand. At the time, management said ARMA was slated to increase Credit Clear's revenue by 140% on a pro-forma FY21 basis.

The company ended the financial year with 696 active clients and 831,000 active customer accounts. Both of these metrics more than doubled in FY22.

For the full year, Credit Clear reported net cash operating outflows of $5.9 million. Its net loss expanded from $8.0 million in the prior year to $12.6 million in FY22.

The company ended the year with a revenue run rate of $37.4 million. It noted it was operationally profitable in May and June, which has continued into the first quarter of FY23.

The post 3 ASX tech shares on the move following earnings results appeared first on The Motley Fool Australia.

You need look no further than the 41% year-to-date loss posted by the S&P/ASX All Technology Index (ASX: XTX) to gather what we mean. In morning trade, the All Tech index is down another 0.5%.

But ASX tech share Credit Clear Ltd (ASX: CCR) is bucking the trend today.

The credit management company's digital billing and communication platform helps organisations achieve more efficient financial outcomes via artificial intelligence applications.

And in morning trade, the ASX tech share is up 14%.

Why are investors bidding up the Credit Clear share price?

ASX investor interest looks to have been piqued by Credit Clear's announcement that it had achieved operational profitability in May. This came after the company saw a record month with $3.03 million in revenue.

The ASX tech share also credited its ongoing investment in technology and client success resources for achieving profitability two months ahead of earlier forecasts of July. Operational profit in May came in at $23,000.

The company said that its balance sheet is strong after its $7.5 million capital raise in June. Those shares were issued at 43 cents, 7% above the current share price of 40 cents. It added that with the cost of living looking to rise far faster than wages, it's well-positioned to deliver accelerated growth in the 2023 financial year.

Commenting on the strong performance, Andrew Smith, Credit Clear CEO, said:

In 2022 Credit Clear has positioned itself to lead the market as an end-to-end credit management company. We've done this by providing a 'best-of-both' offering that sees award-winning AI technology combined with an experience-led and customer centric service offering.

The uplift in performance produced for our clients has been quantifiably proven in recent case studies and is contributing towards greater referral volumes from existing clients, and an influx of new clients that we have signed in the past few months.

We exit the 2022 financial year as a profitable market-leading company and our intention is to reinvest profits for growth.

How has this ASX tech share been tracking?

With today's intraday gain factored in, the Credit Clear share price is down 5% in 2022.

That compares with a year-to-date loss of 17% posted by the All Ordinaries Index (ASX: XAO).

The post This ASX tech company just became profitable, and its shares are rocketing 14% appeared first on The Motley Fool Australia.

To fund the transaction, the company is conducting a $29.5 million capital raise.

At the time of writing, the Credit Clear share price is 49 cents, 9.26% lower than its previous close.

Let's take a closer look at the news that's driving the financial services technology company's stock downwards.

Credit Clear share price flops on new acquisition

It's not a good day for the Credit Clear share price despite the company announcing that its acquiring debt recovery solution provider, ARMA Group Holdings.

Over financial year 2021, ARMA reported $15.5 million of revenue and $6.4 million of earnings before interest, tax, depreciation, and amortisation (EBITDA).

According to Credit Clear, the acquisition will provide more than 400 new active clients and a 140% boost to its revenue.

That's expected to see Credit Clear bringing in $26.5 million in normalised, unaudited, pro-forma revenue on a financial year 2021 basis. The company also expects that its normalised, unaudited, pro-form EBITDA will increase to $3.9 million.

Finally, purchasing ARMA will help Credit Clear's technology reach further into the Australian market. It will also speed up its adoption in the receivables management industry.

Credit Clear will be paying $46 million for the acquisition, plus earnout payments.

Of that $46 million, 40% will be paid in scrip and the other 60% in cash.

To fund the cash component, the company has undergone a $25.5 million placement. Within the placement, new shares were offered for 40 cents apiece.

A share purchase plan is expected to see another $4 million raised at the same offer price.

The scrip consideration is contingent on shareholder approval, which the company hopes to get in January.

Following the acquisition, ARMA founders, Andrew Smith and Shane Ashton will continue to manage the business. Andrew Smith will also be welcomed to the Credit Clear board.

What did management say?

Credit Clear CEO, David Hentschke commented on the news driving the company's share price lower today, saying:

Credit Clear is at the forefront of a major global transformation in the way businesses interact with their customers. The ARMA acquisition provides us an opportunity to deploy this leading digital technology across ARMA's significant existing client base and to win considerable new business together.

The post Credit Clear (ASX:CCR) share price tumbles 9% on acquisition news appeared first on The Motley Fool Australia.

Credit Clear shares are claiming territory following a company announcement advising it has signed a global partnering and teaming agreement.

It has signed the deal with South African companies Centriciti Techhub and Credit Solutions Services.

The "Techhub" as it is collectively known, provides tech solutions and business processing to the financial services industry. It is headquartered in Johannesburg South Africa, per Credit Clear.

Under the agreement, Techhub will deploy Credit Clear's digital platform across some of its existing accounts receivable portfolios.

Here are the details of the arrangement.

Credit Clear signs new partnering and teaming agreement

Credit Clear touts its platform as the premier digital platform for optimising account receivables and customer relationships.

As part of the partnering agreement, the company's digital platform will be rolled out to a number of accounts receivable portfolios on Techhub's books.

Credit Clear will support the platform remotely from Australia and will be paid a commission on all payments made across identified portfolios.

From Tehchub's end, it has identified a minimum portfolio of $50 million and up to $100 million on an initial 3-month basis to implement the platform.

Following this initial phase, Techhub will then identify and select portfolios across its remaining account receivables portfolio.

Credit Clear is pursuing a total pool of receivables of up to $1 billion in Techhub's portfolios, per the release.

With respect to the teaming side of the agreement, the pair will jointly pursue new opportunities across international markets.

Techub will retain exclusivity to market Credit Clear's platform in the African market, as well as non-exclusive rights to market it internationally.

As such, all revenue from business wins in the teaming side of the agreement will be shared equally.

What's in it for Credit Clear?

According to the announcement, the agreement provides Credit Clear with immediate access to globally significant portfolios in new geographies.

By its nature, the agreement significantly reduces the capital expenditure associated with international expansion.

It achieves this by removing setup costs, switching costs and what the company calls "in country" development costs.

Moreover, it allows Credit Clear to "leverage existing capabilities and infrastructure from Australia and scale significant new account receivable volumes in new markets in a capital efficient way".

The company aims to have the platform ready by January 2022 after completing minor development work to prime it for international deployment.

Credit Clear's CEO, David Hentschke, said that international expansion is a key priority for the company. As such, the agreement offers the greatest international opportunity to date, says Hentschke.

Talking about the agreement specifically, Hetschke said:

We look forward to working closely with Techub. The results we've produced in Australia by applying our digital platform, with its cutting edge, optimizable workflows and behavioual AI, have demonstrated the enormity of the global opportunity. Appling our technology to Techub's multi-billion-dollar portfolio of account receivables, is exactly how we envisaged the pathway to global expansion and scale.

Credit Clear share price snapshot

It hasn't been the best year for the Credit Clear share price. In the past 12 months, it has fallen deep into the red, posting a loss of 33% after falling another 28% this year to date.

Each of these results come in well behind the S&P/ASX 200 index (ASX: XJO)'s return of around 16% in that time.

The post Signed: Credit Clear (ASX:CCR) share price spikes 12% on new agreement appeared first on The Motley Fool Australia.

At the time of writing, the Credit Clear share price is up 12% to 61 cents after the company released an investor presentation this morning.

What did Credit Clear announce?

Credit Clear specialises in receivables management solutions. Today's presentation highlighted that the company's top-line revenue was "resilient" with "momentum building as COVID-19 related debt collection restrictions ease". With that in mind, the company advised it has shifted its focus to converting clients to its digital platform to achieve an expansion in gross margins.

Within today's update, the company reported a 2,410% increase in the conversion of traditional clients to the digital platform. This 4-digit increase is based on the revenue of converted clients from the third quarter of FY20 to the third quarter of FY21.

The third quarter FY21 saw digital services revenue account for 37% of the company's revenue, with digital gross profit margins of 96%.

The update also highlighted the company's strong pipeline of opportunities across its target verticals including insurance, water and utilities, automotive, banks and education.

Additionally, the presentation pointed out that a big milestone was made by the company back in April after it signed its first major insurance client, Suncorp Group Ltd (ASX: SUN).

The pipeline of opportunities hinted a number of potential contracts including "late-stage discussions with tier 1 insurance clients", "progress with other major water and utilities companies", "advanced discussions with two major automotive brands' finance arms" and a a big four bank committing to a pilot program.

How the Credit Clear share price has performed since its IPO

Credit Clear listed on the ASX on 27 October at an initial public offering price of 35 cents. Its shares closed at 46 cents on its first day of listing.

Just three days later, on 30 October, its shares briefly hit $1.20, or a 245% return for those that managed to participate in the IPO.

From there, the Credit Clear share price slowly drifted lower, hitting a 9-month low of 46.5 cents on 4 June, or going full circle back to debut prices.

On a more encouraging note, its shares have lifted more than 25% in the last three days to 61 cents at the time of writing.

The post Why the Credit Clear (ASX:CCR) share price is up 12% today appeared first on The Motley Fool Australia.

Its shares have retreated since that high and are trading at 35 cents at the time of writing, up 3%. 

Island Pharma is a drug research company that develops preventative or therapeutic drugs for viral infections. The company is currently advancing its lead drug candidate "ISLA-101" towards a Phase 2 clinical trial in dengue infected subjects. ISLA-101 has the potential to be used to prevent or treat a number of viruses including dengue, Zika and chikungunya, and other diseases rife in tropical climates. 

Grant of US patent drives the Island Pharma share price 

In today's release, Island Pharma advised that a key patent for its lead asset, ISLA-101 was granted by the United States Patent & Trademark Office. The patent will underpin Island Pharma's drug repurposing strategy to rapidly and efficiently develop antiviral therapies with a focus on mosquito-borne viral diseases. 

Pharma Island executive chair Dr Paul MacLeman welcomed the progress, saying: 

The grant of the US patent is a significant development for Island Pharmaceuticals. Mosquito borne viruses, such as dengue, Zika and others represent major unmet medical needs throughout the world and about 3 billion people – or 40% of the world's population – live in areas with a risk of dengue.

Having an allowed patent that protects Island's lead program in this large market provides protection for the development of ISLA-101 and further underpins our ability to advance the program in the US – a key target market.

The Island Pharma share price so far 

It is becoming increasingly common for initial public offerings on the ASX to surge on the first day of listing before grinding lower in the coming weeks and months. Some notable recent examples include 4DMedical Ltd (ASX: 4DX), Credit Clear Ltd (ASX: CCR) and DC Two Ltd (ASX: DC2). 

The Island Pharma share price has met with a similar fate, at a listing price of 25 cents, its shares surged as high as 67 cents on its first day of listing on April 13. A neat return 268% return for those that managed to participate in the IPO and sell at highs. Despite the intraday surge, its shares closed at 50 cents on the first day.

Its shares have steadily pushed lower, closing at a record low of 34 cents on Tuesday.

What's next for Island Pharma 

The key milestones for the company to achieve revenues and profitability as stated in its prospectus are obtaining FDA approval and commencing sales for ISLA-101. 

Its prospectus advises that the timeframe to meet the approval and sales milestones are contingent on a number of factors. These include the timeframe to enrol and conduct clinical trials, preparation and submission of regulatory documents, regulatory review and launch of sales efforts.

The company is currently advancing ISLA-101 towards a Phase 2 clinical trial which will then require a Phase 3 clinical trial and drug registration.

The post The Island Pharma (ASX:ILA) share price lifts on key US patent milestone appeared first on The Motley Fool Australia.

At the time of writing, the Credit Clear share price is down 3%, trading at 66 cents after spending the entire morning in the red.

Credit Clear operates in the receivables management industry, defined by the ACCC as when "creditors and collectors seek to secure payment from consumers of businesses who are legally bound to pay or repay money they owe".

The company aims to disrupt the industry's current operating model by applying its technology to improve a clients' collection experience and financial outcomes. 

Why is the Credit Clear share price lower today?

The Credit Clear share price has struggled to find headway on seemingly positive financial and operational results in the third quarter. The company reported that overall revenue was up by 35% over the previous quarter to $2.8 million, driven by a 76% increase in digital revenue.

Growth in digital revenue is accelerating and now accounts for 37% of total revenue compared to the 28% reported in the second quarter. The company is pleased with the accelerating growth in digital streams as it confirms the continuing acceptance and adoption of Credit Clear's SaaS debt recovery platform over traditional debt collection methods. 

The company is pushing growth on all fronts with meaningful contract wins and discussions with large insurance, education, automotive finance and utilities clients.

During the quarter, the company secured Suncorp Group Ltd (ASX: SUN) as its first major insurance sector client. The signing will have an initial contract term of two years with the company receiving an $800,000 advancement payment. 

Credit Clear is riding the tailwinds of its flagship Suncorp deal, and is currently engaged with four additional major insurers about implementing its digital platform. 

Despite the quarterly result ticking all boxes with solid revenue growth, key contract wins and a strong pipeline of potential clients, the Credit Clear share price remains slumped at 66 cents. 

Why the Credit Clear share price is struggling this year

The Credit Clear share price has slipped 11% year-to-date despite positive announcements from the business. 

Could the lack of recent upside to the Credit Clear share price have something to do with its initial public offering back in October 2020? The company had a listing price of 35 cents but ran as high as $1.20 within four days of going public.

Credit Clear made its ASX debut during a period where IPOs were running hot. Notable listings late last year include Douugh Ltd (ASX: DOU), MyDeal.com.au Ltd (ASX: MYD) and Adore Beauty Group Ltd (ASX: ABY).

These shares have experienced a similar share price performance where all-time highs were recorded during the first few days of listing, followed by a sharp selloff and grinding back and forth ever since. 

The post The Credit Clear (ASX:CCR) share price lower on third quarter update appeared first on The Motley Fool Australia.

Four ASX shares that are not letting that hold them back today are listed below. Here's why they are storming higher:

Anteotech Ltd (ASX: ADO)

The Anteotech share price has jumped 8% to 27 cents. Investors have been buying the surface chemistry company's shares after it announced the receipt of CE Mark registration for the EuGeni Rapid Test Platform and COVID-19 Antigen Rapid Test. This registration means that the technology conforms with health and safety protection standards for products sold within the European Economic Area and the United Kingdom. As a result, a product launch is expected later this month.

Credit Clear Ltd (ASX: CCR)

The Credit Clear share price is up almost 5% to 76 cents. This morning the debt recovery platform provider announced a new contract win with insurance and banking giant Suncorp Group Ltd (ASX: SUN). In addition, Credit Clear revealed that its unaudited third quarter revenue grew 30% over the second quarter to more than $2.7 million.

Galaxy Resources Limited (ASX: GXY)

The Galaxy share price has charged 7.5% higher to $3.20. This follows the release of an update on its performance during the March quarter. According to the release, the lithium producer's Mt Cattlin operation successfully ramped back up to nameplate capacity during the quarter. This led to Galaxy reporting quarterly production of 46,588 dry metric tonnes of lithium concentrate, up 39.7% on the previous quarter.

Mach7 Technologies Ltd (ASX: M7T)

The Mach7 share price has jumped over 11% to $1.40 following the release of its third quarter update. According to the release, the enterprise imaging platform provider achieved record quarterly cash receipts of $8.4 million during the quarter. This was almost double its second quarter cash receipts. Furthermore, Mach7 generated $12.84 million (total contract value) of new sales orders for the quarter. This was up from $7.6 million in the second quarter, taking the total year to date figure to $23.58 million.

The post Why Anteotech, Credit Clear, Galaxy, & Mach7 shares are storming higher appeared first on The Motley Fool Australia.

In morning trade, the debt recovery solution provider's shares are up 5% to 76 cents.

At one stage today, the Credit Clear share price was up as much as 10% to 79.5 cents.

Why is the Credit Clear share price storming higher?

Investors have been buying Credit Clear shares this morning after it announced a major new customer win and strong third quarter growth.

According to the release, the company has signed Suncorp Group Ltd (ASX: SUN) as its first major insurance sector client.

The company notes that the signing of Suncorp, for a fully integrated digital service, capped off a very strong third quarter of FY 2021 for Credit Clear.

During the quarter, the company's unaudited revenue grew by more than 30% over the second quarter to over $2.7 million.

This was driven by a 245% year on year increase in digital communications to 2.8 million, with the company experiencing its first 1 million month during March. Management believes this indicates that customer acceptance of Credit Clear's digital platform is continuing to accelerate.

Credit Clear provides businesses with a digital debt recovery technology platform that helps drive smarter, faster, and more innovative financial outcomes. It aims to achieve this by changing the way customers manage their payments through a user experience that the market demands in a digital age.

Credit Clear's Chairman, Gerd Schenkel, said: "Credit Clear's successful entry into the Australian insurance sector and the achievement of continued strong growth in the March quarter highlights the potential for the Company to play a major role in the multi-billion-dollar Australian receivables market."

"Signing long-term fixed fee contracts with enterprise clients creates revenue certainty and shareholder value and demonstrates the flexibility of Credit Clear's fully integrated, SaaS digital business model. We are committed to delivering a world leading interactive communications and digital payments platform for our clients across all major sectors."

The post Credit Clear (ASX:CCR) share price jumps 10% on Q3 update and Suncorp contract win appeared first on The Motley Fool Australia.

But with such a wide range in quality, some did better than others after listing on the ASX.

"Some [were] taking advantage of a short term boost to profits from COVID. With the market placing high valuation multiples on some of these sectors, they got the double benefit of high valuation multiples on cyclically high profits," Prime Value portfolio manager Richard Ivers told The Motley Fool last week.

"Others were high quality businesses with a solid long term outlook."

Sudden share price spikes in the early life of ASX shares don't necessarily equate to long-term investment worth.

But it's still interesting to look at which initial public offerings (IPOs) performed the best last year after listing. It indicates confidence from investors that the company has some sort of future.

The Motley Fool has picked out the six newly listed companies which delivered the highest share price gains in 2020. (Mining companies, often speculative, have been excluded from the rankings.)

Douugh Ltd (ASX: DOU): 467% return

This fintech has gone gangbusters since listing in October. Investors lucky enough to pay 3 cents per share during the IPO saw the Douugh share price end the year off at 17 cents.

Douugh has an eponymous smartphone app that helps users use artificial intelligence to "simplify" everyday banking. It analyses spending, pays bills, and helps customers reach savings goals.

The company also has a partnership with Mastercard Inc (NYSE: MA) to issue virtual debit cards under that badge.

Douugh shares have been in a trading halt since before market open on 21 December, pending an announcement regarding an acquisition.

Cosol Ltd (ASX: COS): 290% return

Cosol is a technology services provider, specialising in enterprise asset management systems. 

It managed to list in January before COVID-19 really struck Australia with an IPO price of 20 cents per share. Shares in the Brisbane business sold for 78 cents when the trading year ended.

The company revealed at its annual general meeting in November that it had won contracts with big clients like the Australian Defence Force and Energy Queensland.

4DMedical Ltd (ASX: 4DX): 233% return

Another technology company, 4DMedical is the inventor of a medical imaging system called XV Lung Ventilation Analysis Software. The business reaps revenue from both software and hardware.

4DMedical sold shares for 73 cents a piece during its IPO. The 4DMedical share price has taken off since its float on the ASX in August, trading at $2.43 at the end of 2020.

The Melbourne and Los Angeles-based firm received approval for its technology from the Therapeutic Goods Administration in September, and scanned its first commercial patient in December.

Playside Studios (ASX: PLY): 130% return

Playside Studios is an electronic games maker. The company sold for 20 cents a share during its IPO but after less than a month of ASX trading it ended the year at 46 cents. 

Read about Playside's work in our 3 mammoth IPOs of 2020.

Credit Clear Ltd (ASX: CCR): 113% return

You can see by now there is a definite theme among the highest-returning IPO shares in 2020.

Credit Clear is yet another tech provider that sells accounts receivables software. The app provides the payer with an option for paying in instalments and allows the payee to access business intelligence about its customers.

After selling for 35 cents during its IPO, the Credit Clear share price surged 133% in just its first week on the ASX in October.

It has somewhat moderated now but still went for a very nice 74.5 cents when the year closed.

Aussie Broadband Ltd (ASX: ABB): 99% return

Aussie Broadband is an internet services provider, mainly selling NBN plans.

The company deliberately markets itself as a premium provider, pointing out its superior speed, bandwidth and Australian customer service call centre.

The Victorian company sold its IPO shares for $1 a piece, including to some lucky customers. When it floated on 16 October, Aussie Broadband's market capitalisation was $190 million.

Now, with the Aussie Broadband share price doubling in just two months, it is using the capital raised to build its own dark fibre network. This means in the long term it will no longer have to pay lease fees to Telstra Corporation Ltd (ASX: TLS).

"It also means we can connect businesses directly to our own fibre. So we're not paying the NBN or someone else for those services," Aussie Broadband managing director Phillip Britt told The Motley Fool back in September.

"We've got some fairly lofty ambitions. The capital markets was the obvious way to raise cash to do what we want to do."

The post These were the best-performing ASX IPOs in 2020 appeared first on The Motley Fool Australia.

Once again, there were a few familiar faces but also a couple of surprise entrants in the top five.

Here's the data:

Zip Co Ltd (ASX: Z1P)

Zip shares were incredibly popular with investors again last week. It was the most traded ASX share and accounted for 3.8% of trades on the platform. And although approximately 76% of these trades came from buyers, it was not enough to stop the buy now pay later provider's shares from sinking 15% lower over the five days.

Flight Centre Travel Group Ltd (ASX: FLT)

It wasn't a great week for the Flight Centre share price last week. The travel agent's shares tumbled 15.8% lower over the period amid concerns over a surge in COVID-19 cases globally. This has sparked fears that the travel sector recovery could take longer than expected. Approximately 1.9% of trades on the CommSec platform were attributable to Flight Centre, with 79% of them coming from the buy side.

Emerge Gaming Ltd (ASX: EM1)

This eSports company's shares were popular with investors again last week and contributed 1.5% of trades on the CommSec platform. Approximately 72% of these trades came from buyers. Unfortunately for them, the Emerge Gaming share price crashed 24% lower over the five days.

Afterpay Ltd (ASX: APT)

The ever-popular Afterpay was among the most traded shares last week and was responsible for 1.4% of total trades. The buying and selling was relatively split over the period, with buyers making up 58% of the trades. The Afterpay share price lost 5.3% of its value last week amid weakness in the tech sector.

Credit Clear Ltd (ASX: CCR)

Finally, this receivables management solution provider's shares were popular following their IPO on Monday. Credit Clear accounted for 1.3% of trades on the CommSec platform. Those buyers were rewarded with some very strong gains. The Credit Clear share price finished the week 180% higher than its IPO price of 35 cents.

The post Zip and Credit Clear were among the most traded shares on the ASX last week appeared first on The Motley Fool Australia.

Who is Credit Clear 

Credit Clear is a fintech business that specialises in receivables management solutions. The ACCC definition of receivables management is when "creditors and collectors seek to secure payment from customers of businesses who are legally bound to pay or repay money they owe".

Credit Clear sees this market in Australia as highly fragmented, with approximately 586 receivables management businesses operating nationally. It believes that the current operating model within the sector is open to disruption due to the increased demand for efficiency from the use of technology-based platforms. 

The company's key clients include SMEs and large corporations, local councils and other government departments and domestic businesses and subsidiaries of global organisations. 

The company provides solutions to its clients through 3 lines of business: 

• Credit Clear: digital billing and communication technology platform 
• Credit Solutions: traditional receivables management 
• Oakbridge Lawyers: provider of legal services for debt recovery 

It generates revenues as a result of transactional platform income, platform licence income, traditional receivables management income and legal service income. 

In terms of the company's financial performance, its pro-forma historical FY20 performance indicates revenues of $11.2 million with a gross profit of $5.6 million and a loss before income tax of $1.8 million. 

What Credit Clear aims to do with IPO funds 

The funds from the IPO will provide sufficient working capital to fund the business for 24 months based on existing levels of revenue, and provide additional financial flexibility with improved access to capital markets. Credit Clear has advised the funds will also be used to facilitate the company's objectives including: 

• investing in technology and systems development to create a market-leading technology platform 
• accelerating sector penetration 
• achieving scale and reaching profitability. 

Foolish takeaway

The market is clearly excited about Credit Clear's prospects. The company is in its early days and focused on 'tech-enabling' the receivables management sector. With the Credit Clear share price sitting at 1.01 per share at the time of writing (almost tripling the offer price), let's see where the business goes from here. 

The post Why the Credit Clear (ASX:CCR) share price is up 125% in 3 days appeared first on The Motley Fool Australia.

The Australian receivables management solution provider's shares landed on the ASX on Tuesday after raising $15 million at a price of 35 cents per share.

Since then, the Credit Clear share price has gained a remarkable 133% and is now changing hands for 81.5 cents.

What is Credit Clear?

Credit Clear is a receivables management solution provider which has developed a proprietary digital billing and communication technology platform.

This platform allows organisations to manage communications and payment arrangements with their customers through an interactive digital and mobile interface as part of a full-service receivables suite of services.

Management notes that this achieves better customer engagement and insight, faster payment reconciliations, improved cash flows, and lower collection costs when compared to traditional methods.

At present, Credit Clear manages over 250,000 active customer accounts across a range of industries. This includes transport, financial services, government, utilities, and other sectors.

It also operates in a highly fragmented industry, with nearly 600 collection and receivables management businesses operating nationally. Management feels this makes the industry ripe for disruption by new technology-powered services.

In FY 2020, Credit Clear reported pro forma revenue of $11.2 million, gross profit of $9.6 million, and a loss before tax of $1.8 million.

Who is management?

The company is led by Chairman Gerd Schenkel and CEO Brenton Glaister.

Mr Schenkel is a former executive of National Australia Bank Ltd (ASX: NAB), Telstra Corporation Ltd (ASX: TLS), and Tyro Payments Ltd (ASX: TYR). Whereas Mr Glaister is a 35-year industry veteran and the founder of Credit Solutions. This is a business acquired by Credit Clear in November 2019.

Mr Schenkel commented: "Given the economic impact of COVID-19 on the economy, we feel the timing is right to grow the business by expanding our receivables technology platform. This will help our clients improve cash flow cost effectively, which is critical right now."

"Prior to the listing on the ASX, Credit Clear was funded by some of Australia's most successful technology investors, including Thorney, Ellerston Capital, Little Group and Regal, with these shareholders participating also in the IPO. We thank all of our existing shareholders and are pleased to welcome new shareholders on the Credit Clear journey," he added.

Trading update.

Immediately after listing, the company released a trading update which revealed that its business has continued to grow rapidly.

According to the release, its messaging volume has increased over three-fold in the past twelve months to reach over 2.6 million messages in the September quarter.

This led to revenue for the September quarter increasing 22% compared to the previous quarter.

The post The Credit Clear (ASX:CCR) share price has rocketed 133% since its IPO this week appeared first on The Motley Fool Australia.