We've put the constituents of the All Ordinaries Index (ASX: XAO) under the microscope to uncover the shares that were least favoured by investors in the last year.

Count yourself lucky if none of these companies were in your portfolio in 2021. The following five ASX shares were bullets worth dodging.

5 worst performing ASX All Ords shares of 2021

Laybuy Holdings Ltd (ASX: LBY)

Illustrating the destruction across buy now, pay later (BNPL) shares in 2021, instalment payment provider Laybuy takes the crown for the worst performing ASX share of the year.

The company made its entrance into the year at a price of $1.30. By the time the curtains drew close on 2021, Laybuy shares were fetching 24 cents apiece — representing a stomach-churning 82% fall over the course of the year.

While Laybuy managed to achieve a record year in terms of revenue and gross merchandise value, investors punished the share price as sentiment waned across the BNPL sector.

Splitit Ltd (ASX: SPT)

Continuing the trend, the next poorest performing ASX share making the list is another instalment payment provider.

Splitit couldn't escape the shift in how bullish investors were on BNPL companies. In turn, Splitit shares plummeted 81% by the end of the year. A steep increase in bottom-line losses likely didn't help with the company's appeal in 2021. Losses ballooned to US$35.2 million in FY21 compared to US$26.6 million in FY20.

Currently, Splitit shares are trading at 26 cents per share, down a further 10% on Thursday.

Ora Banda Mining Ltd (ASX: OBM)

2021 wasn't kind to ASX-listed gold mining shares. Even the giants of the game suffered throughout the year. Newcrest Mining Ltd (ASX: NCM), Northern Star Resources Ltd (ASX: NST), and Evolution Mining Ltd (ASX: EVN) all witnessed a fall of 10% to 30%.

Though, it was the more speculative segment of the gold mining market that was smashed. Perth-based Ora Banda Mining sank 78% last year. Shares in the company continued to move lower after Ora Banda raised $21 million to fund the development of its Davyhurst Gold Project.

Damstra Holdings Ltd (ASX: DTC)

Turning towards the tech-end of the town, workplace management solutions provider Damstra was a drag on investors' portfolios in 2021.

The Damstra share price waltzed into last year at $1.53 after having gained ~32% in the previous year. However, shares gradually declined as the company experienced challenges. These included a contractual dispute with a client and a reduction of service to another client.

As a result, FY22 guidance was cut to between $30 billion to $34 million, down from $35.9 million to $38.9 million. The mounting disappointments were reflected in the 78% fall in Damstra shares in 2021.

Cleanspace Holdings Ltd (ASX: CSX)

Rounding out the top five worst-performing ASX shares of 2021 is respiratory protection equipment manufacturer, Cleanspace.

The company enjoyed a record-setting year in 2020 as demand for respirators skyrocketed in the face of COVID-19. Opportunistically, shares in Cleanspace debuted on the ASX in October 2020.

Unfortunately for investors, a sudden dropoff in sales in the second half of FY21 led to a 50% crash in Cleanspace shares. The Cleanspace share price continued to face challenges throughout the remainder of 2021 to finish the year 78% lower.

The post These are the 5 worst performing ASX shares of 2021 appeared first on The Motley Fool Australia.

At the time of writing, CleanSpace shares are down 21.37% to $1.49.

How did CleanSpace perform in the second-half of FY21?

Investors are heading for the hills, selling CleanSpace shares following its latest performance update to the ASX.

For the 6 months ending 30 June 2021, CleanSpace reported revenue to fall at $10.2 million. This is a significant drop from the $39.7 million recorded in the first-half of the 2021 financial year. CleanSpace stated that United States vaccination rollout programs, oversupply of disposable masks, and extended lockdown restrictions impacted its result.

The company maintained a gross margin of 72% for H2 FY21, broadly in line with the prior period of 78%. This is encouraging despite the shift in sales mix from higher margin healthcare to industrial sales.

Statutory earnings before interest, tax, depreciation and amortisation (EBITDA) are estimated to come at a loss. The business is forecasting negative $2.1 million to negative $1.9 million after accounting adjustments are made. The disappointing result will drag down overall EBITDA between $17 million to $17.2 million for the entire FY21.

CleanSpace declared a cash balance of $38.2 million at the end of June, after paying a $5.2 million tax liability. Complementing the healthy balance sheet, the business minimised cash outflows whilst investing in the sales capability and other growth initiatives.

During the second-half, CleanSpace continued to increase unit sales from an improved customer base across its Healthcare and Industrial segment. It added over 50 new hospitals in the United States, more than 20 in Europe, and above 200 in Asia. In the Industrial sector, the business saw 8 new United States mining customers included in the mix.

Pleasingly, the United States government is seeking to protect COVID-19 frontline healthcare workers with powered air-purifying respirators or elastomeric respirators. This is expected to benefit CleanSpace, as it holds clinically designed best-in-class powered air-purifying respirators.

What did the CEO say?

CleanSpace CEO, Dr Alex Birrell noted that the operating environment has been challenging. However, the business is advancing its programs to support growth in the current climate. He said:

The business is committed to accelerated growth for market adoption by expanding our pipeline through aggressive sales and marketing activity, stakeholder engagement and our R&D roadmap.

CleanSpace is pleased to see countries with high vaccination rates that underpin the path to economic recovery; with customers and policy makers (as seen by the new OSHA Standard) now far more educated about respiratory protection, our technology is well positioned both in health and industry to meet their needs.

The company did not provide a guidance for the 2022 financial year, given the uncertain trading conditions.

About the CleanSpace share price

Over the last 12 months, CleanSpace shares have underperformed the broader ASX market, down almost 80%. Most of these losses have come this year after its massive fall in late March following a trading update.

On valuation grounds, CleanSpace presides a market capitalisation of roughly $145 million, with approximately 77 million shares outstanding.

The post Why the CleanSpace (ASX:CSX) share price is freefalling 23% today appeared first on The Motley Fool Australia.

The Cleanspace share price, which opened the year trading at $6.61, has shed close to a whopping 70% of its value and is now priced at just $2.05.

Company background

Founded in Australia in 2009, Cleanspace develops workplace respirators for the industrial and healthcare industries. The company sells a range of durable, lightweight respiratory protective equipment suited for many unique (and even dangerous) settings, including for use in potentially explosive environments.

While it originally targeted the industrial sector, Cleanspace began expanding more actively into healthcare during the pandemic.

What's been impacting the Cleanspace share price?

The Cleanspace share price tumbled 50% on 30 March after the company reported that sales for the quarter ending 31 March 2021 were expected to be just $7 million. Compare that against the $39.7 million in revenues Cleanspace generated over the first half of FY21. This leaves the company with a Herculean task over the second half of the financial year if it wants to show any half-on-half growth in FY21.

Also putting pressure on Cleanspace shares is the shifts in demand for respirators being seen in the US. By the company's own admission, "acceleration of vaccine rollout programs, spending constraints and a backlog stockpiling of low-tech disposable masks" are all combining to impact respirator sales in North America.

The question investors will be asking themselves is whether the company's first-half FY21 results were an anomaly borne out of the pandemic, and the lower third-quarter sales represent a normalisation of the company's revenues.

For its part, Cleanspace attempted to reassure investors that there was still plenty of room for growth beyond the COVID-19 pandemic. It values its addressable market at $6.3 billion and states that "a strong US hospital pipeline underpins sales in the medium to longer term."

But it also conceded that "volatility is likely to continue for some time" and declined to commit to any earnings guidance for the second half of FY21.

Performance versus competitors

Cleanspace is up against some pretty stiff competition, particularly in the healthcare sector.

The two respirator heavyweights currently trading on the ASX are Fisher & Paykel Healthcare Corp Ltd (ASX: FPH) and ResMed CDI (ASX: RMD). To get a sense of the size of these two companies compared with Cleanspace, New Zealand-based Fisher & Paykel brought in over NZ$900 million in operational revenues for the six months ended 30 September 2020, while ResMed generated US$800 million in revenues in the December quarter alone.

Despite these differences, shares in all three companies have had a rocky start to 2021 as market analysts and investors try to price in revenue projections beyond the pandemic. After starting the year at $27.50, the ResMed share price fell almost 15% to below $24 before recovering some of that ground more recently. Currently, Resmed shares are down a little over 3% year to date at $26.59. 

Fisher & Paykel shares have followed a similar trajectory, falling over 15% from their 2021 opening price of $30.77 to around $25.46 by early March. They have staged a more significant recovery than ResMed, and are currently slightly above water year to date at $30.79.

So far, the Cleanspace share price has not experienced the same rebound as either ResMed or Fisher & Paykel – but it doesn't yet have the brand recognition or proven track record of its two established competitors. This means Cleanspace shares will undoubtedly be facing significant investor scrutiny for the remainder of this year.

The post What happened to the Cleanspace (ASX:CSX) share price? appeared first on The Motley Fool Australia.

Why the share price got chopped in half

The market was quick to judge and also punish the Cleanspace share price. This comes after the company announced that it had experienced lower sales over the current quarter. In addition, Cleanspace is expecting Q3 FY21 sales to be approximately $7 million. 

While the initial outbreak of COVID-19 may have created tailwinds for the respiratory protection equipment (RPE) manufacturer, the opposite is now unfolding as the global vaccine rollout gains momentum. Additionally, customer and government spending constraints, and stockpiling of low-tech disposable masks have seen sales slow in the second half.

CleanSpace made its ASX debut on 23 October with a listing price of $4.41 per share. Its shares closed at $7.420 on its first day or a return of 68% for those that managed to participate in the initial public offering (IPO). 

Yesterday's selloff would have sent IPO investors from break-even to losing half their investment at open. 

Is the CleanSpace share price on sale?

Bell Potter released an update for Cleanspace shares after the disappointing sales update. The broker retained a hold recommendation with a 12-month target price of $2.28, down from $6.75. 

The magnitude of sales weakness was significantly greater than Bell Potter and consensus expectations. The broker was forecasting $15 million in sales for Q3 FY21, compared to the announced $7 million. 

The broker's commentary notes a high level of uncertainty in the short term as hospitals have diverted resources to vaccine rollout programs and away from new equipment purchases. As a result, Bell Potter anticipates "ongoing and longer-term sales weakness in the Hospital segment". 

While the near-term may be bleak for the CleanSpace business, Bell Potter still views the company as a "quality business, with a differentiated product, and are positive on management's expansion of the sales and marketing teams to drive improved sales". In the long run, the broker expects a solid recovery and growth compared to current levels. 

The post Is the Cleanspace (ASX:CSX) share price a buy after falling 50% yesterday? appeared first on The Motley Fool Australia.

Four ASX shares that are falling more than most today are listed below. Here's why they are sinking:

Blackmores Limited (ASX: BKL)

The Blackmores share price is down 6% to $78.39. This is despite there being no news out of the health supplements company today. However, last week analysts at Citi put a sell rating and $59.20 price target on its shares. They have concerns over its valuation, particularly given the prospect of increasing competition in the local market and weakness in the daigou channel.

Cleanspace Holdings Ltd (ASX: CSX)

The Cleanspace share price has crashed 55% to $2.01 following the release of a trading update. That update revealed that the respiratory protection equipment manufacturer has experienced a major slowdown in sales. According to the release, third quarter sales are expected to be $7 million. This compares to first half sales of $39.7 million, which average out to $19.35 million per quarter.

PointsBet Holdings Ltd (ASX: PBH)

The PointsBet share price has sunk 10% to $12.17. This appears to be due to concerns over online sports betting legalisation in New York. Deutsche Bank stated: "Comments from NY politicians, as reported by affiliate media, appear far more pessimistic than those of several weeks ago around the prospects of NY legalising online sports betting in this session." This would be a big blow, as the market is expected to be worth US$1.35 billion by 2023.

Treasury Wine Estates Ltd (ASX: TWE)

The Treasury Wine share price has continued its slide and is down 2.5% to $10.37. Investors have been selling the wine company's shares this week after Chinese authorities confirmed that tariffs would be placed on Australian wine for at least the next five years. In respect to Treasury Wine, its portfolio has been hit with a 175.6% duty. Management previously warned that demand for its portfolio in China would be extremely limited while these measures are in place.

The post Why Blackmores, Cleanspace, PointsBet, & Treasury Wine shares are sinking appeared first on The Motley Fool Australia.

CleanSpace share price plummets on trading update

The CleanSpace share price has experienced a brutal sell-off this morning following the company's latest trading update. CleanSpace shares also took a dive late last month after the company's half-year results highlighted the impact of COVID-19 on current market conditions.

At the time, the company noted that there had been a shift from reactive buying to more considered purchasing of personal protective equipment (PPE). While CleanSpace said it was well-positioned for this shift, offering cost advantages and high protection, this move was expected to impact sales in the second half. 

Today's update has confirmed this impact and sent the CleanSpace share price spiralling downwards. The business has experienced lower sales over the current quarter and CleanSpace now expects Q3 FY21 sales to be approximately $7 million. The company blames a sudden shift in North American healthcare procurement, driven by a number of compounding factors such as the acceleration of vaccine rollout programs, spending constraints and the stockpiling of low-tech disposable masks. 

The announcement attempts to reassure investors that the business is confident it will return to historically strong growth rates over the medium term. CleanSpace is making a significant investment in its sales strategy and market presence by doubling its regional sales capability, opening new distribution channels and aggressively targeting new sectors less impacted by vaccine rollouts. 

The update also points out potential tailwinds such as US President Joe Biden's package to introduce a platform for increasing the quality of PPE and pandemic preparedness for present and future outbreaks. CleanSpace believes that government intervention in such areas has proven to be a powerful force in shaping purchasing decisions. 

Despite the positive medium to long-term implications for the PPE space, it appears that the market is far from impressed with the company's weak sales performance over the current quarter. The CleanSpace share price has lost more than half its value in a little over an hour of trading.

CleanSpace shares are now down more than 70% over the past 12 months and around 67% year to date.

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Here's why these small cap ASX shares could be the ones to watch:

Alcidion Group Ltd (ASX: ALC)

The first small cap to watch is Alcidion. It is an informatics solutions company that provides software that has been designed to improve the efficacy and cost of delivering services to patients and reduce hospital-acquired complications.

Last month Alcidion released its half year results and reported a 36% increase in revenue to $11.1 million. In addition to this, it revealed that a further $23 million of sold revenue will be recognised over the next five years from FY 2022 to FY 2026.

Since then, the company has announced another potentially important contract with New Zealand's Te Manawa Taki region District Health Boards for a pilot implementation of Better's OPENeP Electronic Medication Management solution.

All in all, Alcidion looks well-placed to benefit from the digitisation of the healthcare sector over the next decade.

CleanSpace Holdings Limited (ASX: CSX)

Another small cap ASX share to watch is CleanSpace. It is a designer, manufacturer, and seller of workplace respiratory protection equipment (RPE) for healthcare and industrial end markets.

CleanSpace listed on the Australian share market late last year, raising $20 million to support its growth plans. This includes building on the adoption of CleanSpace products in the healthcare and industrial markets, product development, expanding awareness, and entering new international markets.

It recently released a very strong first half result. It revealed revenue of $39.7 million and EBITDA of $20.1 million. This was up from revenue of $7.3 million and an operating loss of $1.9 million a year earlier. It was also 25% and 72.6% higher, respectively, than management's forecast. Positively, this is still well short of its addressable market of US$6.3 billion.

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The company released its half-year results for the period ending 31 December 2020 this morning. At the time of writing, the CleanSpace share price is trading hands at $6.79 a share, down 8.82%.

Results boosted by COVID-19 demand

There are not too many industries that directly benefitted from the situation fostered by COVID-19. However, respirators would certainly be one of them. Given the respiratory nature of the virus, masks and respirators have been used widely to combat the spread. In the healthcare space, it has been essential in abating the risk to frontline workers.

Hence, it comes as no surprise that CleanSpace's revenue increased by more than fivefold compared to 1H FY20. The top-line result of $39.7 million was comprised of 50% US sales, 17% EMEA sales, and 33% Asia Pacific sales. The healthcare industry really outshone the industrials segment during the half, with 78% of total revenue.

The high proportion of healthcare sales combined with high accessory sales aided in lifting the company's gross margin to 78%. Consequently, CleanSpace's net profit after tax nearly doubled to $13.7 million for the half.

Wary of a drop-off

Although the company outlines the possibility of a prolonged way of living with the virus, there is also looming uncertainty. As stated in the CleanSpace presentation, "There are clear signs the pandemic has shifted to a closing phase, and it is expected that 2H will be lower than 1H."

The company currently has 2 operational manufacturing facilities between St Leonards and Artarmon in New South Wales. Clearspace detailed its intentions to consolidate to one location to capture increased efficiencies as the virus risks taper off.

CleanSpace share price recap

CleanSpace listed on the ASX last year on 22 October. Since then, the share price has been floundering around between $5.60 and $7.50 per share. Despite the tailwind of COVID-19, the CleanSpace share price is down 8.5% since its listing.

The company currently trades on a 41.4 times price-to-earnings (P/E) ratio. This is based on its current market capitalisation of $568 million.

The post Why the CleanSpace (ASX:CSX) share price is tumbling 8% today appeared first on The Motley Fool Australia.

Three small cap shares that could be worth adding to your watchlist are listed below. Here's what you need to know about them:

CleanSpace Holdings Limited (ASX: CSX)

CleanSpace is a designer, manufacturer, and seller of workplace respiratory protection equipment (RPE) for healthcare and industrial end markets. It recently listed on the Australian share market, raising $20 million to support its growth plans. These plans include building on the adoption of CleanSpace products in the healthcare and industrial markets, product development, expanding awareness, and entering new international markets.

IntelliHR Ltd (ASX: IHR)

Another small cap to watch is IntelliHR. It is a next-generation cloud-based people management and data analytics platform provider. Demand for its platform has been growing strongly this year, leading to the company reporting a 148% increase in subscriber numbers to over 30,000 during the first five months of FY 2021. This underpinned an 81.3% increase in its contracted annual recurring revenue (ARR) to $2.8 million. Pleasingly, management appears confident there will be more of the same in future thanks to the quality of its software, international expansion, and favourable industry trends.

Nitro Software Ltd (ASX: NTO)

A final small cap to watch is Nitro Software. It is a growing software company driving digital transformation in businesses around the world across multiple industries. Nitro's key solution is the Nitro Productivity Suite. This provides integrated PDF productivity and electronic signature tools to customers via a software-as-a-service and desktop-based software solution. Demand for its offering has been stronger than expected in FY 2020, leading to management recently upgrading its guidance. Nitro expects its subscription ARR to come in at $26 million to $27 million in FY 2020. This compares to the $24.4 million ARR it guided to in its IPO prospectus.

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Regardless of this lacklustre performance, these 2 ASX healthcare shares are having a pretty good day. 

Anteris Technologies Ltd (ASX: AVR)

The Anteris share price has surged 18.60% today to reach $5.10 per share. This gain comes after a tough year, with the Anteris share price dropping more than 62% over the past 12 months.

The company's mission is to create the world's most durable heart valve. While no significant news hit the wires today, the company continues to steadily progress its heart valve technology.

In March 2020, Anteris announced the first implantation of its ADAPT-treated single-piece 3D aortic valve in a patient with aortic stenosis.

At the start of this year, the company confirmed that it had entered into a short-term facility for a $1,220,000 advance, based on its forecasted research & development (R&D) tax incentive. Anteris followed this statement up two days later announcing an additional $20 million in secured funding.

According to Anteris, the company continues to focus on delivering "next generation technologies that help healthcare professionals create life-changing outcomes for patients."

CleanSpace Holdings Ltd (ASX: CSX)

The CleanSpace Holdings share price is currently up by 7.29%, trading at $7.51 at the time of writing. The company engages in the design and manufacturing of respiratory protection equipment (RPE) for healthcare and industrial employers internationally.

The purpose of RPE is to protect people from inhaling hazardous substances in the air. The Sydney-based company was founded by a team of biomedical engineers in 2009. Products sold by CleanSpace include the CleanSpace Halo for the healthcare market and the CleanSpace2, CleanSpace Ultra and CleanSpace Ex designed for industrial markets. 

While it's been a rocky ride over the previous 12-month period, the CleanSpace share price has just managed to inch into the green, returning 0.67% over the past year.

In its most recent trading update, CleanSpace upgraded its first half FY21 revenue expectations to be in the range of $39 million–$41 million for the six months ended 31 December 2020.

The post These 2 ASX healthcare shares popped today appeared first on The Motley Fool Australia.

Continuing with that theme, here are two more to watch in 2021:

CleanSpace Holdings Limited (ASX: CSX)

CleanSpace is a designer, manufacturer, and seller of workplace respiratory protection equipment (RPE) for healthcare and industrial end markets. It shares have been strong performers since listing on the Australian share market through an IPO that raised a total of $131.4 million. Though, it is worth noting that only $20 million of this was primary capital. The remainder is for long term shareholders to realise some of their investments.

It will be using the proceeds from its IPO to support its growth plans. These include growing its current position and markets while positioning for a broad range of additional growth opportunities. Management is also aiming to build on the adoption of CleanSpace products in the healthcare and industrial markets, expand awareness, enter new international markets, and continue to expand and advance its product portfolio.

Pointerra Ltd (ASX: 3DP)

Another small cap ASX share to watch in 2021 is Pointerra. It is a growing technology company with a focus on the commercialisation of 3D geospatial data. The company's software solution allows users to manage, visualise, and share extremely large digital 3D datasets. It can also extract vital information from the data quickly that would otherwise take many hours to do.

Pointerra has been growing strongly this year despite the pandemic. For example, the company recently revealed that demand was increasing and underpinned solid growth in its Annual Contract Value (ACV) in November. The company reported an 18% increase in ACV to US$5.82 million between October and November.

The good news is that this is still only a tiny portion of its overall market opportunity. Management estimates that its global market opportunity is currently worth a mouth-watering $500 billion annually.

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At the time of writing, the CleanSpace share price is up 4.55% at $6.90. 

A quick take on CleanSpace

CleanSpace designs, manufactures and sells workplace respiratory protection equipment (RPE) for healthcare and industrial end markets.

PAPRs are specialised respirators that come equipped with blowers, filters, respirator hood or face-pieces, and breathing tube assemblies. CleanSpace's PAPRs operate in two markets, healthcare and industrial.

How is CleanSpace performing?

In today's release, CleanSpace advised demand is continuing to outperform previous forecasts. Given the strong trading conditions, the company is now projecting revenue in the range of $39 million to $41 million. The upgraded guidance for the period ending 31 December, reflects an increase on the $34 million to $36 million originally announced on 12 November.

CleanSpace noted that its product and regional sales mix is tracking along similar to last month's trading update. Healthcare and industrial is reported to be at a 77% and 23% split, respectively.

Group profit margin is predicted to be between 77% to 79%, with earnings before interest, tax, depreciation and amortisation (EBITDA) around the $17 million to $19 million mark.

Consumable sales are sitting at 47% of total sales, which is at the same level recorded last year.

In addition to the financial figures, the company highlighted that its new facility in St Leonards is now operational. Production capacity is running at 7,000 units pm which equates to $100 million per year for CleanSpace.

Cleanspace noted, however, that as the world approaches a vaccine roll-out for COVID-19, its current business environment remains uncertain.

In light of this, it did not provide a guidance for the second-half of the 2021 financial year.

CleanSpace share price summary

The CleanSpace share price is up more than 54% since its initial public offering (IPO) of $4.41 back in October. Its shares have levelled in the last month, where the broader All Ordinaries Index (ASX: XAO) has taken off.

CleanSpace has a market capitalisation of $508.3 million and a price-to-earnings (P/E) ratio of 60.5.

The post Why the CleanSpace (ASX:CSX) share price is climbing today appeared first on The Motley Fool Australia.

Shares in the respiratory protection equipment provider jumped to as high as $6.80 in opening trade. While shares have since retreated, the Cleanspace share price is still up 12% to $6.50.

In comparison, the All Ordinaries Index (ASX: XAO) is 0.2% lower to 6,639 points.

Let's take a closer look at what Cleanspace announced today.

Trading update

According to the release, CleanSpace advised that business performance remains strong across key geographical areas in healthcare and industrial sectors. Its product sales mix is 77% healthcare and 23% industrial, and the company reports that geographical sales are evenly split between North America, Europe, and Asia Pacific.

The United States healthcare market saw continued growth in its VA, Sutter and Parkview hospital groups. The company reported that new deployments to community health services and a large dental group also supported its direct sales model.

In Europe, the company has been busy providing personal protection equipment and offering healthcare services. This is due to the second wave of COVID-19 that has locked down the United Kingdom, Germany, France and Spain. Cleanspace built an industrial base in Europe, in which it sees attractive growth opportunities.

Across the Pacific, Australia and Singapore saw demand stabilise with purchases for protection considered for the long term. In Japan, Philippines and Indonesia, strong sales are continuing to flow.

Operations update

Cleanspace said it has set up production teams at its new facility, and remains on track to ramp up operations. It expects the facility to deliver over $100 million in capacity capabilities per year. In addition, Cleanspace noted that supply chains and outbound logistics are well positioned to respond to global demand.

Upgraded guidance

Up to the end of October, Cleanspace reports that sales have been robust and are tracking well ahead of expectations. The company upgraded its forecast for the first half of FY21 and anticipates revenue to be in the range of $34 million to $36 million.

Furthermore, earnings before interest, tax, depreciation and amortisation (EBITDA) for the full six months is predicted to be between $14 million and $16 million.

Consumable sales are currently 45% of total sales and are broadly in line with the previous year, and the current forecast.

What did management say?

Cleanspace executive director and CEO Mr Alex Birrell commented:

The upgrade in the forecast reflects work done to leverage our existing markets and expand the base with new customers. Deeper market penetration strengthens the business for a post COVID-19 environment and reinforces CleanSpace as best practice respiratory protection that offers significant benefits including higher protection, greater user comfort and cost effectiveness.

While Australia has managed to achieve no new COVID-19 cases and low community transmission, other regions are now experiencing second waves. A vaccine in the market will signal the return of growth in economic markets and industrial sectors where we have consistently seen 30%-40% growth, while the impacts of COVID-19 on hospitals has delivered a permanent change in mindset towards PPE, and protection of healthcare workers, in the hospital setting.

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A number of shares have completed their IPOs this month and hit the ASX boards. Some more successfully than others.

Here's a summary of recent IPOs and how they have fared since listing:

Adore Beauty Group Limited (ASX: ABY)

The Adore Beauty share price has had a difficult start to life on the ASX boards. This afternoon the online beauty retailer's shares are trading at $5.88. This represents a 13% decline from its IPO price of $6.75. 

Adore Beauty raised $269.5 million from its IPO, giving it a market capitalisation of $635.3 million. The company intends to use the proceeds of its IPO to support its growth strategy and future growth opportunities. This includes growing its brand awareness, strengthening its offering, and expanding into new markets and adjacent categories.

Aussie Broadband Limited (ASX:ABB)

The Aussie Broadband share price has been a very strong performer since completing its IPO. On Tuesday afternoon the internet provider's shares are fetching $1.89. This is up a sizeable 89% from its IPO listing price of $1.00.

Aussie Broadband listed on the Australian share market after raising approximately $40 million through a partially underwritten initial public offering. The funds raised are going to be used predominantly on the deployment of a dark fibre network.

CleanSpace Holdings Limited (ASX: CSX)

The CleanSpace share price has also been a strong performer since listing on the Australian share market. The shares of the designer, manufacturer, and seller of workplace respiratory protection equipment (RPE) for healthcare and industrial end markets are trading at $6.88 this afternoon. This is up an impressive 56% from its listing price of $4.41.

CleanSpace's IPO raised a total of $131.4 million. Though, only $20 million of this was primary capital. The remainder is for long term shareholders to realise some of their investments.

MyDeal.com.au Limited (ASX: MYD)

The MyDeal.com.au share price is trading at $1.32 this afternoon. While this is notably higher than its IPO price of $1.00, it is materially lower than its high. The online retail marketplace provider's shares rocketed 120% higher on their first day on the ASX boards to $2.20.

MyDeal raised $40 million from its IPO, which comprises $35 million for the company and $5 million for certain existing shareholders. It intends to use the proceeds to drive future growth. This includes growing its private label business, investing in its proprietary technology, and investing in advertising to grow its customer base and brand.

Zebit Inc (ASX: ZBT)

The Zebit share price has had a disastrous start to life on the ASX boards. This afternoon the US-based e-commerce company's shares are changing hands for 97.5 cents. This is down 38% from its IPO price of $1.58.

The California-based company raised A$35 million, which it plans to use to rapidly accelerate its growth in North America. Zebit markets itself as the Amazon for the under-served, with a built in buy now pay later platform that provides credit to those that cannot get it elsewhere.

The post Here's how Adore Beauty (ASX:ABY) and these new IPOs have fared since listing appeared first on The Motley Fool Australia.