In today’s briefing:
- Dropsuite (DSE AU): NinjaOne’s A$5.90/Share Scheme
- Airtasker Ltd – Revenue momentum continues
- Readcloud Ltd – A strong start to the year
Dropsuite (DSE AU): NinjaOne’s A$5.90/Share Scheme
- Dropsuite (DSE AU), a backup, recovery and protection software company, has entered into a Scheme Implementation Deed with Texas-based IT automation outfit NinjaOne.
- NinjaOne is offering A$5.90/share, a 34.1% premium to last close. Apart from Dropsuite’s shareholder approval, the Offer requires FIRB signing off. The Offer has the unanimous backing of both boards.
- The Offer also has the backing of Dropsuite’s largest shareholder, Topline Capital (31%). Board & management hold a further 9%. Implementation is expected late May 2025. This is done.
Airtasker Ltd – Revenue momentum continues
- RaaS has published an update report on online marketplace Airtasker (ASX:ART) following its Q2 FY25 results release which demonstrated continued momentum in revenue growth across all regions.
- All regions saw increased revenue (US marketplace revenue +278%, UK +95% and Australia +~13%) and all were at or above the Q1 FY25 growth rates, aided by increased marketing spend.
- After all cash outflows ART achieved positive cash flow of $0.54m for the quarter, resulting in increased cash at bank (to $18.3m at December 31).
Readcloud Ltd – A strong start to the year
- RaaS Research has published an update on edtech group ReadCloud (ASX:RCL) following the release of its Q1 results in which it reported a 26% increase in cash receipts to $2.4m.
- The result was in line with our forecasts from an operating cash flow and ending cash position.
- The company’s commentary was positive and gave us confident of our forecasts for the remainder of FY25 and into FY26.
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