In today’s briefing:
- ADX Energy (ASX: ADX): Equity raise to fund increased WI in Anshof
- Bell Financial Group Ltd – ECM Markets Bouncing Back
- Pointerra Ltd – A Second Half Story
- Rent.com.au Ltd – Cash Burn Slowing, Annuity Revenue Growing
ADX Energy (ASX: ADX): Equity raise to fund increased WI in Anshof
- • ADX is raising A$4.2 mm of new equity plus up to A$1 mm through an offer to shareholders at a price of A$0.10 per share. • We re-iterate our target price of A$0.80 per share as we factor (1) the dilution associated with the equity raise and (2) the increased interest in Anshof.
- De-risking the 3P/3C resources at Anshof would add ~A$0.50/sh (~5x the current share price).
Bell Financial Group Ltd – ECM Markets Bouncing Back
- Bell Financial Group Ltd (ASX:BFG) is a diversified provider of financial products and software solutions within, and increasingly outside, its traditional full-service stockbroking business.
- Since our initiation in October 2023 there have been some positive developments across a number of divisions.
- Against our forecast of $550m in equity raisings over H2 FY23 we now estimate $800m with a spike in activity over October and November.
Pointerra Ltd – A Second Half Story
- Pointerra Ltd (ASX:3DP) provides a powerful cloud-based solution (Pointerra3D) for managing, visualising, analysing, using and sharing massive 3D point clouds and datasets.
- Pointerra3D is a proprietary digital twin SaaS platform which delivers predictive digital insights and definitive answers to complex physical asset management questions.
- In an in-depth interview with RaaS and at the company’s AGM, the company’s CEO Ian Olson highlighted that the company expected to return to positive cashflows and EBITDA in H2 FY24 as a result of both the resumption of capex spending by US energy utility clients and Pointerra’s expanded customer base across the architecture, engineering and construction (AEC) sector, mining and oil and gas sectors and infrastructure clients.
Rent.com.au Ltd – Cash Burn Slowing, Annuity Revenue Growing
- Rent.com.au Limited (ASX:RNT) is a purpose-led company seeking to empower home renters through its technology platform and a growing number of aligned transactional services.
- The company has provided a trading update at its annual general meeting, noting that cash burn has slowed, with reductions in discretionary spend.
- The company also highlighted that revenue from annuity income streams was growing and now around 13% of total revenue, compared with 7% in H1 FY23 and 10% in H2 FY23.
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