At Monday's close, less than five trading days into the New Year, all of these ASX shares had already gained more than 20% since the opening bell on 2 January.

To put that in some context, the All Ordinaries Index (ASX: XAO) is down 1.95% over that same period.

Though take note, most of these companies are quite small, and investing in microcap stocks comes with added risks, including significant volatility.

So, which ASX shares are shooting the lights out?

I'm glad you asked!

Four ASX shares rocketing higher in the New Year

Starting with the 'laggard', we have 3D geospatial data technology company Pointerra Ltd (ASX: 3DP).

The Pointerra share price is up 22.73% so far in 2024, closing yesterday trading for 5.4 cents per share.

There have been no price-sensitive releases from this ASX share since the company's quarterly update on 31 October. But it's worth noting that even with this year's big boost, the Pointerra share price is still down 71.58% over 12 months.

So perhaps we're seeing some bargain hunting here.

Next up, we have Cooper Energy Ltd (ASX: COE).

The ASX All Ords energy stock is up 23.08% in 2024, with shares swapping hands for 16 cents apiece at Monday's close.

Investor enthusiasm for the ASX share looks to have gotten a lift on Friday when the company reported strong results from its Orbost gas processing plant improvement project.

Cooper Energy said that the production rate at its plant reached record levels of 67.3 terajoules per day (TJ/d). Management also said there were numerous occasions over the past two weeks where instantaneous rates exceeded the plant's nameplate capacity of 68 TJ/d.

The Cooper Energy share price closed up 10.3% on the day.

Which brings us to ASX healthcare stock Medical Developments International Ltd (ASX: MVP).

The Medical Developments share price is up 32.24% in 2024, with shares closing yesterday trading for $1.05 apiece.

As with Pointerra, it's been a long time since this ASX share released any price-sensitive announcements. In this case, all the way back on 31 August when the company released its full-year financial results.

But with the Medical Developments share price having sunk 49% in 2023, investors may also be looking for potential bargains here.

Rounding out the list, up 19.35% gain so far in 2024, is telehealth company Doctor Care Anywhere Group PLC (ASX: DOC), closing Monday trading for 7.4 cents per share.

That sees this microcap ASX share up 42.31% over the past 12 months.

Investor enthusiasm looks to have gotten a boost on Thursday following the company's extraordinary general meeting (EGM).

This saw management announce the refinancing of its debt obligations. They noted the refinancing "frees up the company's resources to be invested in the operations and growth of the business".

The ASX share closed up 15.2% on Thursday and gained another 10.5% on Friday.

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After a late drop on Wall Street overnight, the Australian Financial Review (AFR) this morning says: "Australian shares are poised to start the month of September sharply lower, amid further selling in New York as investors position for ever higher interest rates."

According to Mike Wilson, chief United States equity strategist and chief investment officer at Morgan Stanley, US equity investors should be braced for more pain, as indexes haven't yet hit bottom for the year.

"June probably was the low for the average stock," he said in an interview on Bloomberg Markets, but index directions are "down for at least [the] next quarter or two".

"September is usually the worst month of the year," said Wilson.

Right on cue, the S&P/ASX 200 Index (ASX: XJO) is trading almost 2% lower on Thursday.

2) Welcome to the month of September — "usually the worst month of the year" — according to Sam Stovall, chief investment strategist at CFRA in New York, as reported by Reuters.

This comes after US markets posted their weakest August performance in seven years. For the month, the S&P 500 lost 4.2% and the NASDAQ fell 4.64%.

By comparison, here in Australia, we had a decent month, with the ASX 200 index gaining 0.6% for the month as rises in resources stocks offset losses in companies like Domino's Pizza Enterprises Ltd (ASX: DMP), Bendigo and Adelaide Bank Ltd (ASX: BEN), and ASX Ltd (ASX: ASX), down 12.3%, 12.2%, and 11.1% respectively in August. 

3) It's been a decent ASX reporting season, the highlight being the dividend windfalls from mining stocks, with bumper dividends declared by the likes of BHP Group Ltd (ASX: BHP), Fortescue Metals Group Limited (ASX: FMG), and Woodside Energy Group Ltd (ASX: WDS). 

But that might be as good as it gets for a while for the mega-cap mining stocks. Earlier this week, Bloomberg reported the iron ore price had dropped below $US100 a tonne for the first time in over five weeks on signs that the crisis in China's steel industry is worsening.

"Output in China's vast steel sector is already running well behind last year's pace as the industry reels from a property crisis that shows no signs of abating."

According to AFR, London-based Liberum Capital has a sell rating on BHP and Rio Tinto Limited (ASX: RIO) shares. It might be a case of taking the dividends and running.

4) With petrol prices through the roof, the war in Ukraine ongoing, and Woodside having tripled its interim dividend, you'd be thinking the oil price might be riding high.

Not so fast, with Bloomberg reporting oil registered its third straight monthly decline, its longest losing run in more than two years on concern that tighter monetary policy and China's economic slowdown will impact crude demand.

Add to that Europe is almost certainly careering towards a deep recession, with the best case scenario in the US being a mild recession, and the outlook for oil doesn't look so rosy. 

Add it all up, and the ASX 200 could be in for a rough few months.

5) A few choppy months will likely pale into insignificance when looked back at in five years' time.

Even the global financial crisis – the most painful period in recent history for investors – is nothing more than a blip in the long upward progression of the stock market.

And, for those who think they might sell up now and get back into the market later, once the recessionary dust has settled, a few words of caution…

1. The stock market is not the economy. A forward looking beast, it moves in advance of recessions and recoveries. See June this year, when it looked ahead to 2023 the first interest rate cuts, despite the RBA and other central banks currently being slap bang in the middle of a hiking cycle.
   
2. In order to profit from market timing, you have to get two decisions right — the selling and the buying. It's hard enough to get one right let alone two.
   
3. Research from Wells Fargo suggests missing a handful of the best days over longer time periods drastically reduces the average annual return an investor could gain by simply holding on to their equity investments during market sell-offs. Disentangling the best and worst days can be difficult, since they often occur in a very tight time frame, sometimes even on consecutive trading days.

If you are invested in the stock market, you should look at it as a lifelong endeavour, not one to dip in to and out of depending on your mood, the market's mood, the economy, the government, or inflation.

6) That's not to say you can't make changes to your portfolio. In hindsight, like many others, I should have sold out of some of my loss-making tech stocks when it became apparent inflation was not going to be transitory, something that would necessitate central banks to quickly hike interest rates.

Then there are genuine investing mistakes. The very best investors only get six out of every 10 picks right. When your investing thesis turns out to be wrong, sell and move on.

In late June, I thought bombed out initial public offering (IPO) Doctor Care Anywhere Group PLC (ASX: DOC) was a bargain. The company was cashed up with no debt and growing quickly, with remote primary healthcare being on an upward trend. 

All was looking good as the Doctor Care Anywhere share price quickly soared from my 14 cents purchase price to almost double by mid-August. 

Move aside Warren Buffett, I was thinking, there's a new investing genius in the house!

A few days later, the company revealed it had experienced platform issues, accompanied by a severe shortage of United Kingdom doctors, leading not only to the departure of the CEO but an inevitable profit warning.

Naturally, Doctor Care Anywhere shares sank, and I headed for the exits as fast as I could, thankfully still pocketing a small profit, but only courtesy of a large dose of luck. Today, Doctor Care Anywhere shares trade at just 10.5 cents.

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With the ongoing growth that some of these businesses are generating, could there be some hidden innovations within these names?

Here are two contenders to consider.

Doctor Care Anywhere Group PLC (ASX: DOC)

Since the start of 2022, the Doctor Care Anywhere share price has fallen 56%. It is down around 75% since the middle of April 2021.

Doctor Care Anywhere describes itself as a United Kingdom-based telehealth company that is committed to delivering the best possible patient experience and clinical care through digitally-enabled, evidence-based pathways on its platform. It uses relationships with health insurers, healthcare providers and corporate customers to connect with patients to deliver telehealth services.

The company recently announced its result for the 12 months to 31 December 2021. It said that it beat FY21 revenue guidance. Total revenue grew by 114.7% to £25 million. There was a 105% increase in consultations to a total of 440,000.

In FY22, the ASX share expects revenue to be between £35 million to £38 million. This represents growth of between 40% to 50%.

By the end of the first half of FY23, the company aims to achieve an annualised run-rate profitability of earnings before interest, tax, depreciation and amortisation (EBITDA). It aims for an annualised run rate of revenue of between £45 million to £55 million.

Supporting the above expectations are three key development areas.

The first is continued organic revenue and consultation growth.

The second development is renegotiating key customer contracts, enhancing revenue and margins.

The final development is the launch of the company's new operating model, enhancing productivity and margins.

Pushpay Holdings Ltd (ASX: PPH)

The Pushpay share price has fallen almost 20% since the start of the year.

This ASX share provides church management and donation tools for churches in the United States.

It processes billions of dollars of donations every year. In the first six months of Pushpay's 2022 interim result, it announced that it had achieved a total processing volume of US$3.5 billion (which was 9% higher year on year).

The company says that it expects to see continued revenue growth as it executes its growth strategy and gains further market share in the US faith sector.

Despite the impacts of COVID-19 and subsequent reopening, Pushpay has not seen any material change in digital giving, reverting to non-digital means. This indicates to management that its customers in the US faith sector may have undergone "a fundamental technological shift as a result of the current environment."

The ASX share is expecting further growth in the future. The company says it will enact strategies that will "allow the company to realise its considerable potential over the long term, while maintaining prudent financial discipline." That involves expanding its existing suite of solutions, providing bundled product offerings to existing customers, growing its products utilised by customers, attracting new customers and expanding into new segments.

Pushpay recently gave an update that its total processing volume for the 11 months to February 2022 was up 10% year on year. It's using its "strong" operating cash flow to pay down its debt.

The post Is it time to buy these 2 beaten-up ASX shares in April 2022? appeared first on The Motley Fool Australia.

This period of time could be an interesting one for investors looking for opportunities.

A business isn't necessarily a better buy because it has fallen in price. However, for some it certainly can mean it's better value.

With that in mind, here are two top ASX growth shares:

City Chic Collective Ltd (ASX: CCX)

City Chic is one of the world leaders when it comes to retailing plus-size clothing, footwear and accessories for women. It operates a number of brands across different markets including City Chic, Evans and Avenue.

The business continues to see rapid sales growth. In the 26 weeks to 26 December 2021, City Chic's sales revenue rose by 49.8% to $178.3 million. The Americas are particularly driving this strength.

ANZ sales rose 14% to $80.8 million and Americas revenue increased by 62% to $77.2 million. ANZ was hurt by lockdowns, which closed stores. The Americas' growth was attributed to re-engaging the significant Avenue customer base, with Avenue.com trading materially above pre-acquisition levels. The City Chic USA website is also performing strongly.

Global supply chain pressures continue, driven by freight capacity shortages and delivery delays coming out of key areas. But, to combat this, the company invested in additional inventory. This has supported sales.

The business continues to expand organically and with acquisitions. It recently acquired the customer lists, brand and URL of CoEdition – a USA plus-size online marketplace.

Ord Minnett rates it as a buy, with a price target of $6.30. It values the ASX growth share at 28x FY23's estimated earnings.

Doctor Care Anywhere Group PLC (ASX: DOC)

The Doctor Care Anywhere share price has sunk 32% since the start of the 2022 year, despite the ongoing progress that the business is making.

It's a business that enables patients to digitally connect with healthcare professionals.

Doctor Care Anywhere recently released its update for the final quarter of 2021, allowing it to announce some full-year numbers. Group revenue was $46.3 million, representing 115.7% growth year on year.

But it's not just revenue increasing, profitability has gone up too. In the fourth quarter, the gross profit margin increased by 5.4 percentage points to 35.7%.

The growth trajectory continued throughout the fourth quarter of 2021, with revenue and consultations up 35.9% and 22.7% respectively. Approximately 50,500 new patients used the service during the quarter.

A new operating model was announced in December 2021, which is expected to deliver "significant improvements" in both the margin and profitability as it is rolled out during 2022. Patients will now get improved access to the right care, at the right time, for a larger number of people.

Instead of the only option being a 20-minute virtual consultation, patients will also be able to have a 20-minute virtual consultation with an advanced nurse practitioner or a quick consult where a patient completes a questionnaire to be reviewed by a prescribing clinician resulting in written advice or prescription without the need for a real-time video or phone consultation.

The post Are these 2 top ASX growth shares buys? appeared first on The Motley Fool Australia.

• There are some high-quality ASX tech shares that have been sold-off, which could be opportunities
• Doctor Care Anywhere, a telehealth business, is seeing a strong increase in organic revenue and growing its number of patients
• Volpara is a breast screening healthcare tech company which has a high gross profit margin and it's growing its subscription revenue

Some of the most promising ASX tech shares have seen significant falls in recent weeks. February 2022 might be the month to jump on some of these potential opportunities.

Technology can come in all forms. Some provide services through e-commerce, others provide office software, and so on.

But healthcare is also becoming increasingly technological. These two ASX tech shares could be ones to look at in February:

Doctor Care Anywhere Group Plc (ASX: DOC)

Doctor Care Anywhere describes itself as a UK-based telehealth company that connects patients with healthcare providers through its platform. It recently expanded into Australia with an acquisition as well.

The company recently announced how it performed in FY21, being the 12 months to 31 December 2021. Doctor Care Anywhere achieved revenue growth of 115.7% to $46.3 million. Included in that was 114.6% organic revenue growth, achieving and exceeding its guidance of at least 100% growth.

Profitability is increasing at the business. The gross profit margin went up 5.4 percentage points to 35.7% in the fourth quarter of 2021.

The growth rate is increasing. In the fourth quarter, revenue and consultations increased by 35.9% and 22.7%, respectively, compared to the third quarter of 2021. It also reported 50,500 new patients used the service during the last quarter, which was a new record.

It also recently announced a new operating model, which will see it provide multiple options for patients to receive care depending on their clinical requirement. This is expected to yield a "significant improvement" in margins and profitability.

The business says that it's well-positioned to maintain its progress in 2022. Despite that, the Doctor Care Anywhere share price has fallen 20% in 2022 and 40% over the last six months.

Volpara Health Technologies Ltd (ASX: VHT)

Volpara is an ASX tech share that provides healthcare software. Specifically, it's involved in breast screening and increasingly lung cancer screening.

It has built a market share of around a third in the US of women who have at least one Volpara product used on their screening images.

The Volpara share price has fallen by 18% since the start of the year.

However, the company continues to grow at a fast rate. A couple of months ago, Volpara announced its FY22 result which showed a number of interesting statistics. Its gross profit margin remained above 91%, the subscription revenue jumped 35% to NZ$11.8 million and annual recurring revenue (ARR) increased to US$20.4 million, up from US$12.8 million.

Volpara has been working on building relationships in the lung cancer space, which could help it over the long-term, including RevealDx and Riverain Technologies.

The ASX tech share's average revenue per user (ARPU) continues to grow. It's looking to grow the ARPU by selling a platform, not just a product, with its suite of products. It's winning new deals which are on-boarding with an attractive ARPU. It can also upsell to existing customers – with clients that upgrade from old systems, it typically leads to a 200% to 300% increase in recurring revenue.

It's also on the lookout for acquisition opportunities that can expand its customer reach, skills or products, to help increase ARPU and/or provide Volpara with technology for the future.

The post 2 top ASX tech shares for February 2022 appeared first on The Motley Fool Australia.

• Digital ASX shares are achieving strong revenue growth
• Both Doctor Care Anywhere and Cettire are seeing triple digit revenue growth
• The two stocks are investing and further expanding their addressable markets

There are a select few ASX tech shares that are experiencing a high level of growth year on year.

Businesses that are growing at a very fast pace can often capture investor attention.

Depending on their long-term trajectory, they may end up becoming much larger over time.

Doctor Care Anywhere Plc (ASX: DOC)

The Doctor Care Anywhere share price has fallen more than 60% over the past year to $0.55. But the business has been reporting quick operational growth.

Doctor Care Anywhere is a UK-based telehealth company that wants to provide the best possible patient care and experience through its digital platform. It utilises its relationships with health insurers, healthcare providers and corporate customers to connect with patients to deliver a range of telehealth services.

For the three months to September 2021, the company saw quarter on quarter revenue growth of 21.6% to £5.8 million (A$10.7 million). This was driven by 30.6% growth of consultations to 116,800. Over 65% of consultations were delivered to returning patients.

It has also completed the acquisition of tele-health and tele-mental provider GP2U Telehealth. This expanded its operations to Australia, giving it geographic earnings diversification and another avenue for growth.

Excluding the impact of the acquisition, the ASX tech share has guided that FY21 revenue was going to grow by at least 100%.

It's also evolving its operating model so that it can offer not just a 15 or 20 minute virtual GP consultation, but also a 20 minute virtual consultation with an advanced nurse practitioner or a 'quick consult' where a patient completes a questionnaire to be reviewed by a prescribing clinician, resulting in written advice or a prescription without the need for a real time video or phone consultation.

Cettire Ltd (ASX: CTT)

Cettire is a global online retailer. It offers a large selection of in-demand personal luxury goods through its website, Cettire.com. The ASX share has an extensive catalogue of approximately 1,700 luxury brands and 200,000 products across clothing, shoes, bags and accessories.

The ASX tech share is experiencing rapid growth as more customers shop online due to the e-commerce tailwinds.

For the first four months of FY22 to 31 October 2021, sales revenue soared 172% to $57.8 million year on year, with the number of orders rising 209% to 107,676 and active customers soaring 220% to 158,260.

Cettire said that despite offline stores reopening with restrictions easing, its growth trajectory continues unabated.

The Cettire founder and CEO Dean Mintz said:

The focused investment to further enhance Cettire's solid foundations is delivering results. Having invested in customer acquisition and executed strongly, October monthly traffic increased 379% year on year. In addition, we are seeing very positive early signs from the migration to our proprietary storefront, with sales growth in "migrated" markets outpacing the company.

But the company is also looking to increase its total addressable market. It is looking to open up more potential revenue by exploring new adjacencies, such as the children's wear segment that it has recently launched.

Management are focused on operating Cettire to "maximise overall revenue growth".   

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Unfortunately, not all shares have been able to follow the market higher this year. The two ASX shares listed below, for example, have lost over 50% of their value since the start of the year.

While this is very disappointing, the team at Bell Potter is tipping a big rebound in 2022. Here's why they could be buys:

A2 Milk Company Ltd (ASX: A2M)

The A2 Milk share price is down a disappointing 52% in 2021. This has been caused by a significant reduction in sales and profits due to structural changes in the Chinese infant formula market which management failed to anticipate.

Bell Potter believes that a turnaround is coming and doesn't believe this is being reflected in its shares. As a result, the broker has named the company among its top picks for 2022 with a buy rating and $7.70 price target.

The broker commented: "We see the scope for EPS to double by FY26e, if A2M can execute on the China offline expansion strategy, while recovering 50% of the lost sales (from FY20-21) in English label IMF. The catalyst to regaining lost English label sales is likely to be border reopening and the return of international students. Exiting the loss making US assets or navigating a turnaround at the MVM asset would likely accelerate this turnaround. We do not see the current share price as reflecting this potential."

Doctor Care Anywhere Group PLC (ASX: DOC)

The Doctor Care Anywhere share price has been sold off and is down by a whopping 56% year to date to 54.5 cents. This means the telehealth's company's shares are now trading 32% lower than their IPO listing price of 80 cents from December of last year.

Bell Potter appears to see this as a buying opportunity for investors. The broker has put a buy rating and lofty $1.30 price target on its shares. This suggests that its shares could more than double in 2022.

Its analysts explained: "DOC experienced exceptional growth during the first 9 months of calendar year 2021 with appointment volumes growing from an average of 30,000 per month in 1Q21 to nearly 40,000 per month by 3Q21. Due to unprecedented demand growth, the company supplemented its supply of doctors with short term contractors which resulted in a decline in margins. DOC has now increased capacity for 45,000 consultations per month from September 2021 and we expect a bounce in margins for the final quarter with ongoing margin growth in CY22."

The post Down 50%: Broker tips A2 Milk (ASX:A2M) and this ASX share to rebound in 2022 appeared first on The Motley Fool Australia.

They are starting from a much smaller position, giving them more of a runway for growth over time.

Just because a business is small doesn't automatically make it a good idea, but these two businesses are compelling options:

Doctor Care Anywhere Group PLC (ASX: DOC)

Doctor Care Anywhere is a UK-based telehealth company that is "committed to the best possible patient experience and clinical care through digitally enabled, joined up, evidence based pathways on its proprietary platform."

It recently announced the launch of a new operating model. It's an evolution from the provision of a single option of 20-minute virtual GP consultations to the provision of multiple options based on a patient's clinical requirement.

There were three options that the small cap ASX share noted.

The first was a virtual GP consultation.

The second was a consultation with an advanced nurse practitioner.

Third, a "QuickConsult", where a patient completes a questionnaire to be reviewed by a prescribing clinician, resulting in written advice or a prescription with the need for a real time video or phone consultation.

This is expected to improve access for a larger number of patients and significantly improve the margins and profitability of the company.

Doctor Care Anywhere continues to grow. In the latest quarter, for the three months to September 2021, it saw quarter on quarter revenue growth of 21.6% to £5.8 million. Consultations grew by 30.6% quarter on quarter to a total of 116,800 consultations.

Healthia Ltd (ASX: HLA)

Healthia is another small cap ASX share in the healthcare space. It offers a number of different 'allied' health services including podiatry, physiotherapy, hand and upper arm therapy, pilates, orthopaedic, optometry and so on.

The company is benefiting from both acquisitions and organic growth.

Indeed, just today it announced acquisitions. It's buying LensPro Optometrists which has eight stores in south east Queensland. Healthia is also buying a physiotherapy business in Queensland as well as one in Victoria.

Those acquisitions are expected to add to annualised underlying revenue and earnings before interest, tax, depreciation and amortisation (EBITDA) by $9.5 million and $1.9 million respectively.

The total acquisitions for the six months to 31 December 2021 are projected to contribute annualised underlying revenue and EBITDA by $82.9 million and $15.9 million respectively. Total capital allocated to these acquisitions is $104.2 million.

Healthia expects to deploy a minimum of $20 million of capital per annum on new acquisitions.

COVID restrictions have impacted Healthia's ability to trade in FY22 in some locations, but FY21 saw organic revenue growth of 9.1%. FY21 also saw underlying EBITDA growth of 62.3% year on year and underlying earnings per share (EPS) growth of 51.6%.

The post 2 small cap ASX shares for 2022 with big potential appeared first on The Motley Fool Australia.

The telehealth company has introduced a new operating model, moving from the single option of a 20-minute virtual consultation with a doctor to multiple options for treatment advice. 

At time of writing, the Doctor Care Anywhere share price is up 12%, trading at 46.5 cents apiece. 

New Telehealth options in place for patients

With COVID-19 spearheading the uptake of remote appointments, the Federal Health Department this week announced a $308.6 million injection into the primary care health system. This includes a $106 million portion for permanent Telehealth for Australians.

The announcement times well for Doctor Care Anywhere, with its new model including options such as shorter appointments, meeting with a nurse, or completing a QuickConsult survey to be reviewed and returned with written advice or a prescription. 

The company said this model would assist in "the challenge of clinical workforce shortages and ever-increasing healthcare demand". 

In addition, the telehealth company announced that its current agreement held with AXA Health would now vary to allow nurses to "make decisions in the assessment, diagnosis, and treatment of patients and to prescribe medication".

Doctor Care Anywhere share price snapshot

The Doctor Care Anywhere share price has fallen 61.67% since the company listed on the ASX in December last year. The company saw a high volume of trading on Monday following the government's healthcare investment.

Based on the current share price, the telehealth company has a market capitalisation of around $89 million.

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Earlier in the day, shares in the UK-based telehealth provider surged more than 9% higher to 47 cents apiece. However, upwards momentum quickly reverted back to downwards pressure. As a result, the company's share price is now down 1.1% to 42.5 cents.

Interestingly, the small-cap company has experienced an above-average amount of volume traded. At the time of writing, more than 357,000 Doctor Care Anywhere shares have exchanged hands today. This is the highest level of volume since the company endured a 9.7% fall one week ago.

So, what could be attracting heightened focus on the Doctor Care Anywhere share price today?

Telehealth is here to stay

Investors seem to be paying extra attention to telehealth companies such as Doctor Care Anywhere today. This follows a media release from the Australian Government Department of Health detailing a $308.6 million investment in the country's primary care health system.

According to the release, telehealth will become a permanent feature of primary health care. As such, $106 million of the $308.6 million in government spending will go towards telehealth for Australian patients. This investment will be spread across four years.

The government aims to ensure greater flexibility for patients and doctors by allowing medical personnel to continue to leverage online and phone consultations.

Furthermore, the release stated that since early March 2020, more than 86.3 million COVID-19 Medicare Benefits Schedule (MBS) services have been delivered to 16.1 million patients.

The government's backing of telehealth services along with this announcement has likely has put the Doctor Care Anywhere share price in focus today. Though, investors don't seem to be overly optimistic with the news as its shares come under pressure in afternoon trade.

Doctor Care Anywhere share price recap

While telehealth might have gained popularity in the last year due to ongoing conditions, the Doctor Care Anywhere share price hasn't benefitted from it.

In the last year, shares in the telehealth platform provider have sunk 65% in value. Meanwhile, the broader health care sector has gained 5.6% in value. The poor performance is hard to decipher considering the company reported a record quarter in October for the number of patients who had their first consultation using the platform.

Based on the current Doctor Care Anywhere share price, the company holds a market capitalisation of ~$78 million.

The post Why is the Doctor Care Anywhere (ASX:DOC) share price getting attention today? appeared first on The Motley Fool Australia.

There is growing volatility in the ASX share market. This may open up some better value opportunities for people to find.

Share prices regularly change, but lower prices give the chance getting exposure to quality companies at the best prices.

Here are two of them:

Doctor Care Anywhere Group PLC (ASX: DOC)

Doctor Care Anywhere is a UK-based telehealth company that is committed to delivering the best possible patient experience and clinical care through digitally enabled, joined up, evidence-based pathways on its platform. It has relationships with health insurers, healthcare providers and corporate customers to connect with a range of telehealth services.

It also recently completed the acquisition of Australian telehealth and tele-mental provider GP2U Telehealth. This gives the business another avenue for growth and geographical diversification. The ASX growth share has also entered the self-pay market in the Republic of Ireland through its channel partner Boots.

It's expecting to report 2021 revenue growth of at least 100% compared to FY20, excluding the acquisition.

The three months to 30 September 2021 saw growth with a number of metrics. Quarter on quarter revenue growth was 21.6% to AU$10.7 million. Consultations grew by 30.6% to 116,800 with over 65% of consultations delivered to returning patients.

Activated lives reached 603,200 during the quarter – up 8% quarter on quarter. An activated life is the total number of people who have signed up for Doctor Care Anywhere's service and entered their personal details.

Volpara Health Technologies Ltd (ASX: VHT)

Volpara describes itself as a health technology software company with an integrated platform which assists in the delivery of personalised breast care.

The ASX growth share grew its subscription revenue by 35% to NZ$11.8 million in the first half of FY22. Its revenue comes with a very high gross profit margin of 91.4%.

Its market share of women who have at least one Volpara product used on their image is around 34%.

Volpara says that its strategic commercial partnerships will help it achieve greater reach in not only genetic testing for breast cancer but expansion into the US lung cancer market where AI and software offer the prospect of saving many more lives.

It has partnered with a number of different organisations, including in lung, with RevealDx, Riverain Technologies, Natera and Invitae.

The company has a number of areas of focus for growth such as expanding the electronic health record (EHR) sales channel. It's also working on building its data platform in a key effort to change from screening for detection to prevention.

It's expecting to reach revenue of between NZ$25 million to NZ$26 million in this financial year.

Volpara management said the next few months is going to be "incredibly busy and exciting" as it heads to Chicago for the large radiology conference RSNA. The third and fourth quarters of the year are traditionally the biggest quarters for the business.

The post 2 fast growth ASX shares that could be buys in December 2021 appeared first on The Motley Fool Australia.

Companies that are expecting to deliver a high level of earnings growth over the next few years may be able to positively surprise investors.

Businesses that are growing across the world may be even more compelling.

Here are two ASX shares to consider:

Webjet Limited (ASX: WEB)

Webjet is one of the leading global travel companies.

The company is still being impacted by COVID-19 effects, but it's expecting to return to profitability as domestic and international travel resumes.

With WebBeds, the business to business part of the company, it has an ongoing transformation strategy to emerge as the global number one provider.

Webjet believes it's going to achieve positive operating cashflow in the first half of FY22 after reducing costs and becoming more efficient.

Management think the company is on track to be at least 20% more cost-efficient at scale, suggesting a "significant" leverage opportunity. When markets normalise, Webjet says that WebBeds will have greater market share, lower costs and improved profitability.

Previously, Webjet was targeting a Webjet earnings before interest, tax, depreciation and amortisation (EBITDA) margin of 50%. But now management think that it can reach a 62.5% margin because of those cost savings.

The ASX share also believes that it can take increasing domestic market share, with a growing presence by its online travel agency (OTA) segment. Its advantages include the accelerating structural shift to online and a "superior" technology offering. It now has a 11.3% market share, up from 5.6% in April 2020.

Australia's domestic and international borders are now opening up, opening the gates to more volume.

It's currently rated as a buy by UBS, with a price target of $6.85.

Doctor Care Anywhere Group PLC (ASX: DOC)

Doctor Care Anywhere is a UK-based telehealth business that wants to provide the best care possible through digitally-enabled, joined up, evidence-based pathways with its platform. It works with health insurers, healthcare providers and corporate customers.

The business continues to scale quickly.

Last month it released its quarterly numbers for the three months to 30 September 2021.

It said that revenue grew quarter on quarter by 21.6% to £5.8 million. This was driven by 30.6% quarter on quarter growth of consultations to 116,800. A record 41,000 patients had their first ever Doctor Care Anywhere consultation during the quarter, while more than 65% of consultations were delivered to returning patients.

There was also continued progress in joining up patient pathways, with 5,100 patients completing the secondary care diagnostic pathway – this was growth of 54.5%.

The ASX share is working on overseas expansion. It has completed the acquisition of Australian tele-health and tele-mental provider, GP2U Telehealth.

Doctor Care Anywhere has also entered the self-pay market in the Republic of Ireland through channel partner Boots.

Management expect that the company can grow its FY21 revenue by at least 100% compared to FY22. Its financial year lines up with the calendar year.

Doctor Care Anywhere says that not only is its solution more convenient for patients, but it is also demonstrating value for doctors and insurers by removing inefficiencies and reducing costs throughout the patient journey, The company is expecting higher profit margins as the pandemic effects ease on the UK clinical workforce.

Taking steps to improve profit margins above pre-COVID levels remains a "key focus" for the company.

The post 2 ASX shares that may be too good to ignore appeared first on The Motley Fool Australia.

At the time of writing, shares in Doctor Care Anywhere are fetching 74.5 cents apiece, an increase of 6.43%. For comparison, the S&P/ASX 200 Index (ASX: XJO) is trading 0.82% higher heading into the afternoon.

Let's peel back the wrapping on this quarterly surprise.

Why is the Doctor Care Anywhere share price surging today?

It was a solid quarter for the telehealth company. While some investors may have expected growth to slow down as a result of the UK's lockdown restrictions ending, it had the opposite effect. To briefly summarise, here are some highlights from the quarter:

• Revenue increased 21.6% quarter on quarter to A$10.7 million
• Number of consultations grew by 30.6% quarter on quarter to 116,800
• Number of signups (or activated lives) reached 603,200
• Completed the acquisition of Australian telehealth and tele-mental provider, GP2U Telehealth
• A record 41,000 patients had their first consultation with the company
• Net operating cash outflows of A$4.24 million compared to A$1.11 million in the prior quarter.

What happened during the quarter?

In its first quarter since UK lockdowns had been lifted, Doctor Care Anywhere witnessed a re-acceleration in growth. This is demonstrated by the significant rise in revenue compared to the prior quarter. For instance, the A$10.7 million derived in Q3 is roughly half the total revenue collected in FY20.

Due to the reopening, wait times for appointments across the UK public health system have deteriorated. This has been a positive for the company, as more patients turn to a more convenient and efficient alternative.

In September alone, 45,800 consultations were handled, with 1,900 patients completing Doctor Care's secondary care diagnostic pathway. The sudden influx in demand looks good for the Doctor Care Anywhere share price.

Illustrating the recurring nature of Doctor Care's telehealth service, more than 65% of consultations were to returning patients. The company aims to scale in response to demand in a bid to increase its pool of returning patients.

Additionally, with the company attempting to capture the increase in demand, operating margins were depressed during Q3. This was as a result of Doctor Care increasing its investment in the supply of clinicians. However, it remains confident that these decisions will eventually lead to better margins in 2022.

While the numbers appeared to be positive for revenue growth, they came at a cost. Consequently, net operating cash outflows increased to A$4.24 million from A$1.11 million in the prior quarter.

Management commentary and outlook

Commenting on the third-quarter result, Doctor Care Anywhere CEO Dr Bayju Thakar said:

We are excited by the continuing rapid growth in demand for our services. The increasing volume of consultations and diagnostic referrals completed in Q3 provides further evidence that patients, doctors and insurers are seeing the benefits of our integrated digital offering.

The convenience that our solution provides is compelling for patients. We are also demonstrating value for doctors and insurers by removing inefficiencies and reducing costs throughout the patient journey.

Regarding its outlook, the company reaffirmed its previously set guidance for FY21, which involves achieving at least 100% organic year-on-year revenue growth. Notably, the revenue growth excludes contributions from its recently acquired Australian business.

Despite these factors, the Doctor Care Anywhere share price is still down 36% over the past year.

The post Doctor Care Anywhere (ASX:DOC) share price jumps 6% on record quarter appeared first on The Motley Fool Australia.

Investments that are growing nicely and are seemingly at attractive value could be good ones to think about.

It could be a wise idea to think about businesses that give Aussies international earnings diversification.

With that in mind, here are two ASX shares:

VanEck Morningstar Wide Moat ETF (ASX: MOAT)

This is an exchange-traded fund (ETF) that, geographically, is about giving investors exposure to US stocks.

But, it's not a broad-based ETF such as Vanguard US Total Market Shares Index ETF (ASX: VTS) or iShares S&P 500 ETF (ASX: IVV).

Instead, the ASX share is focused on a certain standard of business.

Analysts at Morningstar are focused on finding businesses that are viewed as having wide (strong) economic moats. That means the analysts believe the business has a strong competitive advantage. Not only that, but the analysts believe that the business will be competitively strong for at least a decade and perhaps longer.

The wide moat businesses are what the analysts start with as a shortlist. To make it into the VanEck Morningstar Wide Moat ETF portfolio, the potential investments must be trading at attractive value compared to the estimate of fair value.

Looking at the portfolio from 15 September 2021, of the 51 positions, these are the ones with a weighting of more than 2.5%: Servicenow, Alphabet, Microsoft, Facebook, Pfizer, Cheniere Energy, Guidewire Software, Salesforce.com, Philip Morris, Tyler Technologies, Medtronic, Amazon.com, Wells Fargo, Gilead Sciences and General Dynamics.

This ASX share has an annual management cost of 0.49%. Including those costs, the ETF has produced an average return of 19.4% per annum over the last five years.

Doctor Care Anywhere Group PLC (ASX: DOC)

This ASX share is down more than 20% since the end of May 2021, though it continues to expand its business in terms of revenue, profit and geographically where it operates.

Doctor Care Anywhere is a UK-based telehealth company that is offering digitally-enabled care for patients. It is utilising its relationships with health insurers, healthcare providers and corporate customers to deliver a range of telehealth services.

The ASX share recently reported its FY21 half-year result. The following numbers were compared to the second half of FY20. So, the numbers represent half-on-half growth. Total revenue increased by 57.7% to $11.2 million. Gross profit jumped 75.8% to $5.8 million.

Despite continuing to invest in various parts of the business, earnings before interest and tax (EBIT) climbed 15.8% to a loss of $8 million and the net loss after tax increased by 37% to $8 million.

But the business has also been busy expanding its operations to other countries. A few days ago it announced it was expanding in the Republic of Ireland to self-paying patients. Its existing operations in the Irish market includes the provision of digital healthcare services to employees of the Irish headquarters of one of the UK's largest banking groups and a partnership with one of the world's largest insurance groups called Allianz.

The company has also entered the Australian telehealth market by acquiring GP2U Telehealth. It provides virtual GP services as well as tele-mental services under the brand Psych2U. In FY21, GP2U Telehealth delivered 54.8% gross revenue growth for FY21 (which was to a total of A$4.4 million). The acquisition price was $11 million.

Doctor Care Anywhere sees significant opportunities to grow national mental health and GP telehealth services in Australia.

The post 2 ASX shares that may be worth looking at this weekend appeared first on The Motley Fool Australia.

Here are some of the highlights from the ASX:

BHP Group Ltd (ASX: BHP) and Commonwealth Bank of Australia (ASX: CBA)

The share prices of both BHP and Rio Tinto Limited (ASX: RIO) fell today, down 1.7% and 2.5% respectively. They were two of the biggest detractors for the ASX 200. The CBA share price also dropped 2.3%.

China continues to tell its steel-making regions to reduce the amount of steel production. This may be good for reducing emissions, but it is also is impacting the iron ore price and hurting investor sentiment about BHP and Rio Tinto.

In percentage terms, they weren't among the worst performers though. Two of the worst declines were the Virgin Money UK (ASX: VUK) share price falling by 7.9% and the Orocobre Limited (ASX: ORE) share price dropping by 6.3%.

Doctor Care Anywhere Group PLC (ASX: DOC)

The market reaction was initially positive for the Doctor Care Anywhere share price after announcing an acquisition. However, it ended down 2%.

The UK-based telehealth business is buying GP2U Telehealth for a total of $11 million. It's an Australian business, operating through both GP2U and Psych2U. The acquisition price represents 2.5x FY21 gross revenue.

GP2U Telehealth provides virtual GP services under the brand GP2U and tele-mental services under the brand Psych2U.

Psych2U actually represents 78% of the total revenue, with income streams coming from a mixed billing service, including a channel partnership with HCF, Australia's largest not-for-profit health insurer.

The GP2U Telehealth business grew gross revenue by 54.8% in FY21.

Doctor Care Anywhere said that the acquisition provides the platform to build a market leading telehealth business in Australia in partnership with other Australian stakeholders. It sees "significant opportunities" to grow the business here.

The CEO of Doctor Care Anywhere, Dr Bayju Thakar, said:

This acquisition represents another important milestone for Doctor Care Anywhere, giving us a platform on which to build our presence in the Australian market and further expand our international business. It will give GP2U the support it needs to make a real difference in helping patients, particularly those in rural and remote regions, access high quality virtual GP care and, in-particular, support existing GP practices in the provision of tele-mental health.

RPMGlobal Holdings Ltd (ASX: RUL)

The RPMGlobal share price fell around 1% today after the tech business gave a software update.

It gave an update about both its IMAFS inventory optimisation and Shift Manager short-term planning solutions being made available in the cloud.

The business said the transition of IMAFS from a hosted solution in the cloud to a full software as a service (SaaS) model will provide users with greater flexibility in security and authentication and facilitates the ability for customers to continuously optimise their inventory management processes.

Shift Manager's change to the cloud will allow users to collaborate and communicate through a single, integrated plan.

RPMGlobal CEO Richard Mathews said:

Cloud adoption will help the mining industry unlock additional productivity and sustainability improvements. Cloud applications facilitate remote collaboration and the scalability that mining organisations require while creating robust data storage solutions that are more cost-efficient when compared to outdated hardware.

The post ASX 200 sinks, BHP and CBA fall appeared first on The Motley Fool Australia.

In morning trade, the telehealth company's shares are up 10% to 85 cents.

Why is the Doctor Care Anywhere share price racing higher?

Investors have been bidding the Doctor Care Anywhere share price higher today after it announced a key new acquisition.

According to the release, the company has acquired Australian based telehealth provider GP2U Telehealth.

GP2U Telehealth provides virtual GP services under the brand GP2U and tele-mental health services under the brand Psych2U. The latter is the key contributor of revenue, currently generating 78% of GP2U Telehealth's total revenue of $4.4 million.

The release notes that the $11 million acquisition represents Doctor Care Anywhere's first entry into the Australian telehealth market.

Why acquire GP2U Telehealth?

Doctor Care Anywhere appears to see the acquisition of GP2U Telehealth as a great way to gain exposure to the increased spending on mental health by the government.

It highlights that in response to the mental health consequences of the COVID-19 pandemic, the Australian government has increased spending on mental health to $6.3 billion for 2021-22. This includes a significant expansion of telehealth services to respond to high levels of mental distress in communities across the country.

Management believes GP2U Telehealth is well placed to meet this demand through its mental health service provision.

Doctor Care Anywhere's CEO, Dr Bayju Thakar, said: "This acquisition represents another important milestone for Doctor Care Anywhere; giving us a platform on which to build our presence in the Australian market and further expand our international business. It will give GP2U the support it needs to make a real difference in helping patients, particularly those in rural and remote regions, access high quality virtual GP care and, in particular, support existing GP practices in the provision of tele-mental health."

"Both service lines are ideally suited to the innovative and responsive applications provided by a telehealth approach, especially where the geographical distance between clinician and patient is prohibitive. Building on our significant organic growth, we believe that this is the right time to be expanding our telehealth activity internationally to serve and care for more patients through the strategic acquisition of GP2U Telehealth and we are very excited to be entering the Australian market," he concluded.

The Doctor Care Anywhere share price is down 31% in 2021.

The post Why the Doctor Care Anywhere (ASX:DOC) share price is jumping 10% today appeared first on The Motley Fool Australia.

So we have recently seen two prominent ASX IPOs – Airtasker Ltd (ASX: ART) and Doctor Care Anywhere Group PLC (ASX: DOC) – report their inaugural earnings results. So let's dig in and see how they went at their first hurdles.

Airtasker share price jumps on big revenue growth

Airtasker reported its FY21 earnings numbers just yesterday. And the market reaction has been one of indifference. Airtasker shares are sitting at the same price from before the report was released, despite a 0.5% bump yesterday to $1.01.

So Airtasker reported that its revenues managed to grow by an impressive 38% year on year to $26.6 million. As my Fool colleague Kerry covered yesterday, that was a beat on the expectations of $24.5 million

Meanwhile, the company also reported gross marketplace value (GMV) of $153.1 million. That is up 35% year on year and also beat the company's previous estimate of $143.7 million. This also included fast-paced growth in the United Kingdom market, with UK GMV up by a very respectable 232%.

Airtasker managed to report underlying pro forma earnings before interest, tax, depreciation, and amortisation (EBITDA) of exactly $0, against a $4 million loss the previous year.

These results unfortunately wouldn't put most Airtasker shareholders in the green though. The company is still down around 3.3% since its March IPO, and around 50% off of its all-time high, which it hit shortly after its ASX debut.

Doctor Care Anywhere triples revenue, halves losses

Doctor Care Anywhere is another recent ASX IPO, this one joining the ASX back in December last year. This medical services company released its half-year earnings report for the 6 months ending 30 June 2021 (1H21) earlier this week.

So Doctor Care reported stellar revenue growth for the first half of the year. This came in at 11.2 million pounds (British), a very nice 143.5% increase from the 4.6 million pounds the company recorded for the prior corresponding period in 2020 (1H20).

Doctor Care also revealed that its losses for the half shrunk dramatically, going from a loss of 18.7 million pounds in 1H20 to a loss of 8 million pounds in 1H21.

Gross profits also increased, rising from 3.3 million pounds in 1H20 to 5.8 million pounds in 1H21.

However, the company still recorded a net loss of 8 million pounds for the period. That was still less than the 12.7 million pound loss from 1H20.

Unfortunately for investors, these numbers did nothing for the Doctor Care Anywhere share price. Since making its ASX debut back in December for approximately 93 cents a share, today, Doctor Care Anywhere shares are down more than 22% to 72 cents a share. The company is also down more than 50% from its all-time high of $1.52 that we saw back in January.

Some other recent ASX IPOs to watch

Although Airtasker and Doctor Care Anywhere have recently given us a look at their books, there are some other recent ASX IPOs that will follow suit in the weeks and months ahead. These include Best & Less Group Holdings Ltd (ASX: BST), Nuix Ltd (ASX: NXL), and Endeavour Group Ltd (ASX: EDV). So keep an eye on those as well!

The post These recent ASX IPOs have just reported for the first time. How did they go? appeared first on The Motley Fool Australia.

Let's examine Doctor Care's results in a bit finer detail.

But first – a bit more on Doctor Care

Doctor Care has expertise in providing digital healthcare and telehealth services to patients.

It has a network of insurers, healthcare providers and corporate customers designed to connect with patients.

The company has a market capitalisation of $279 million at the time of writing.

Doctor Care's quarterly results

The company recorded unaudited revenue of $8.9 million this quarter, a 78% year-on-year increase.

It also delivered 89,400 consultations across the quarter, a healthy expansion of 69% from the year prior.

Doctor Care's "recruitment drive" also added 71 new GPs to its platform, with a further 100 in the pipeline.

As a result of these additions, the company hopes to provide "up to 45,000 appointment capacity" per month by the end of Q3.

Diagnostic referral volumes were also up 34% from the previous quarter and broad strengths were underlined by "continued demand as the UK economy unlocks".

While people entitled to use the company's services remained flat from the previous quarter at 2.4 million, its "activated lives" — or people signing up for the service — grew 12.7% quarter-on-quarter and 90% from the year prior.

Additional takeouts

With respect to guidance, Doctor Care reinstated its FY21 estimates of "revenue growth of at least 100% above FY 2020".

For reference, Doctor Care recognised revenue of $11.6 million for the FY 2020 and made a loss of $31.3 million.

Commenting on the performance this quarter, Doctor Care CEO Dr Bayju Thakar stated:

Our outlook for 2021 remains positive following a robust performance in a quarter during which patient demand has continued to grow rapidly… Nevertheless, this has been a quarter of significant challenges as a result of the demand on GPs to deliver the national vaccination programme.

The company's chair Jonathan Baines added:

The UK primary health care system will continue to remain under extreme pressure, contributing to significantly increased demand for our service as demonstrated by the growth in activated lives and record number of daily consultations this quarter. We remain confident in our guidance for year on year revenue growth of at least 100% above FY 2020.

However, investors seem to view the results unfavourably and are selling Doctor Care shares in droves this morning.

After earlier trading down ~11% on their opening price, Doctor Care shares are now changing hands for 80 cents, an 8.5% drop at the time of writing.

Doctor Care share price snapshot

The Doctor Care share price has posted a year to date loss of almost 34%, extending the previous 12 months' loss of close to 15%.

These returns have lagged the S&P/ASX 200 Index (ASX: XJO)'s return of ~23% over the previous year.

The post Doctor Care (ASX:DOC) share price slides 11% after quarterly results appeared first on The Motley Fool Australia.

With that in mind, I have picked out two small cap ASX shares that are highly rated. Here's why they could be worth a closer look:

Doctor Care Anywhere Ltd (ASX: DOC)

Doctor Care Anywhere is a growing UK-based telehealth company that is aiming to deliver high-quality, effective, and efficient care to its patients.

It has been a very strong performer over the last 12 months. This has been driven by the pandemic accelerating the adoption of telehealth services globally.

Pleasingly, even though the worst of the pandemic is behind us and economies are reopening again, the company continues to report solid growth in signups and revenue.

For example, in April, Doctor Care Anywhere released its first quarter update and reported a 16.5% increase in unaudited underlying revenue to 4.4 million pounds (A$6.87 million). This was underpinned by a 14.7% increase in signups to the platform to 500,000 and a 21.9% increase in quarterly consultations delivered to 90,500.

One broker that is a fan is Bell Potter. It currently has a buy rating and $1.95 price target on the company's shares.

Over The Wire Holdings Ltd (ASX: OTW)

Another small cap share to watch is Over The Wire. It is a telecommunications, cloud, and IT solutions provider,

As with Doctor Care Anywhere, it has been a positive performer in FY 2021. In February, the company reported a 17% increase in revenue to $50.3 million and a 28% jump in EBITDA to $10.5 million.

One key highlight from this result was its recurring revenue. Almost all of Over The Wire's revenue is now classed as recurring, which gives it a firm foundation to build on in the coming years.

Analysts at Canaccord Genuity are positive on its growth prospects. The broker currently has a buy rating and $4.85 price target on its shares.

The post 2 small cap ASX shares that are highly rated appeared first on The Motley Fool Australia.

Two small cap ASX shares that could have bright futures are listed below. Here's what you need to know about them:

Booktopia Group Ltd (ASX: BKG)

The first small cap to watch is Booktopia. It is an online book retailer which has impressed since its IPO late last year. Booktopia was supposed to struggle when Amazon launched in Australia, but that simply hasn't been the case.

For example, during the first half of FY 2021, the company shipped a total of 4.2 million units for the six months. This was up 40% on the prior corresponding period and led to Booktopia reporting a 51.1% increase in revenue to $112.6 million and a 502.3% jump in underlying EBITDA to $8 million.

Analysts at Morgans appear confident there will be more of the same in the future. Morgans is tipping further market share gains and scale benefits. In light of this, it has an add rating and $3.53 price target on its shares.

Doctor Care Anywhere Ltd (ASX: DOC)

Another small cap to watch is Doctor Care Anywhere. It is a growing UK-based telehealth company that is aiming to deliver high-quality, effective, and efficient care to its patients.

Due partly to the pandemic accelerating the adoption of telehealth services, Doctor Care Anywhere is another company growing quickly.

For example, last month Doctor Care Anywhere released its first quarter update and revealed a 16.5% increase in unaudited underlying revenue to 4.4 million pounds (A$6.87 million). The company also reported a 14.7% increase in sign-ups to the platform to 500,000 and a 21.9% increase in consultations delivered to 90,500.

Bell Potter is positive on its prospects. The broker currently has a buy rating and $1.95 price target on the company's shares.

The post 2 growing small cap ASX shares to watch closely appeared first on The Motley Fool Australia.