ASX Tech Stocks: Manta Ray and Nearmap-inspired subs target positive free cash flow for FY24
- The Kronos armored submarine looks like a high-tech manta ray spaceship
- Nearly a unicorn Nearmap says it could be cash flow positive in FY24
- SILEX Welcomes US Inflation Reduction Act and Considers Commercialization of its Laser Enrichment Technology
The UAE-based start-up Highland Systems has developed a futuristic submarine who looks like a manta ray on steroids.
The Kronos Armored Submarine is dual powered with a diesel generator as well as an electric motor which when combined can provide up to 54 hours of operation.
It can carry six mini-torpedoes as well as 10 passengers and is “suitable for commercial, rescue and combat operations,” the company says.
The vessel will have a load capacity of up to 3000 kg and a top speed underwater is 27 knots, with a cruising speed of 16 knots.
When powered by a diesel engine, the Kronos can reach a top speed of 80 km/h when on water and 50 km/h when underwater.
This isn’t the first time a manta ray has been used as inspiration.
The US Defense Advanced Research Projects Agency (DARPA) is working on an unmanned underwater vehicle (UUV) program called Manta-Ray which aims to “operate for extended periods of time without the need for human logistical support or on-site maintenance.”
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days after a trade-in offer unicorn manufacturingNearmap released its FY22 results, which included a record ACV portfolio of $159.9 million, topping initial FY22 guidance of $150-160 million.
This represents 25% year-over-year growth which the company says was driven by the continued strong performance of its North American business, including the roofing, insurance and roofing verticals. government.
In addition, 73% of the portfolio (approximately $122 million) is now in subscriptions incorporating premium content, an increase of 45% compared to the previous corresponding period.
“FY23 represents a year of execution for Nearmap. We will continue to roll out our world-leading aerial camera systems, HyperCamera3, with five systems targeted for production and delivery in North America in the first half of FY23,” said CEO and MD, Dr. Rob Newman.
“We will remain focused on our strategy, successfully driving growth in our ACV portfolio and remain on track to generate positive free cash flow in FY24.”
SILEX SYSTEMS (ASX:SLX)
The semiconductor company welcomed the US Cut Inflation Act, which includes US$700 million in funding to support the High-Assay Low Enriched Uranium (HALEU) Availability Program which will be conducted over the next four years by the US Department of Energy (DOE).
HALEU is the fuel required by many emerging advanced small modular reactors (SMRs) – the next generation of nuclear power technology.
“This week’s enactment of the Cut Inflation Act is a watershed moment in the revitalization of nuclear power in the United States,” said CEO and Managing Director Michael Goldsworthy.
“The IRA is a cornerstone of the U.S. response to climate change and recognizes nuclear energy as an essential part of a carbon-free, resilient, and stable electric grid.”
Global Laser Enrichment (GLE), the exclusive licensee of SILEX laser technology for uranium enrichment, will explore the possibilities of being a potential participant in the HALEU availability program.
“As the U.S. government steps up its initiatives to domesticate its nuclear fuel supply chain and reduce its reliance on nuclear fuel imports, particularly from Russia, we expect GLE to have more and more opportunities to commercialize SILEX technology,” added Goldsworthy.
The company received an order for A$2.7 million from a US federal government agency customer for specialist body armor and ballistic helmets.
“HighCom Armor is a trusted supplier of life-saving, high-performance ballistic personal protective equipment to federal, state and local law enforcement agencies in the United States and around the world,” said CEO Scott Basham.
“This order, valued at A$2.7 million and comprising several thousand individual items, will be built, shipped and delivered from our factory in Columbus OH, to this important federal agency of the US government within weeks to come, and will be completed in its entirety. before the end of September, with revenue recognized in the first quarter of FY23.”
Basham said it was off to a flying start for the new fiscal year, with the company having already booked US$11m (~A$15.6m) so far in the first quarter.
Real estate platform Domain had a strong FY22, recording revenue of $357 million (up 23.2%) and after-tax net income of $35.1 million plus a dividend of 4.0 cents per year. stock.
Core digital revenues (including residential; media, developer and commercial; agent solutions and real estate data solutions) grew 22.6%.
“Residential revenue increased 23% to $239.2 million, supported by exceptional deep revenue growth of 26%,” said CEO and Managing Director Jason Pellegrino.
“Depth growth was supported by a 9% increase in new ‘for sale’ listings and a controllable yield increase of 14%, driven by both price and depth penetration.
“Global depth penetration and platinum penetration continued to grow strongly in all states despite continued COVID disruptions in the first half.
“Our price increases implemented in July 2022 aim to drive higher levels of deep penetration, and were implemented with a record number of new deep deals in the fourth quarter that were up 70% year-on-year .”
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Drone connectivity player Elsight has received a new order for its Halo platform from Air Methods subsidiary Spright.
Air Methods provides air medical services in North America, and Sprright was created to help solve many of the toughest challenges facing healthcare services for communities across North America.
This is the second commercial order for “Halo” units received in the past 45 days from Sprright under the five-year agreement announced on June 30, 2022.
The order includes both initial hardware revenue as well as recurring software revenue, with further orders expected in calendar 2H of 2022.
The communications-as-a-service (CaaS) company says it is on track for positive EBITDA in FY23, after achieving record annual revenue of $70.6 million, up 48%
The company secured agreements with the South Australian Department of Education for 900 schools, an 8-year contract with an Australian government department, an Asian telecommunications partnership and 233% new customer growth in Americas North.
“Governments, businesses and other organizations are now clearly committed to a future where digitalization will play a critical role in ensuring communications are targeted, effective and efficient,” said CEO Jeromy Wells.
“The benefits of integrating artificial intelligence, algorithms and data to inform how and when to communicate are becoming evident, and this realization continues to drive our business in all markets.
“Put simply, it becomes costly for organizations not to invest in intelligent communication services.”
METAL FORGE 3D (ASX:3MF)
The company’s advanced 3D printing manufacturing facility in Texas has received facility and process approval certification from the American Bureau of Shipping (ABS), representing the first commercial additive manufacturing facility in the world. world certified by ABS.
Essentially, the certification opens up the possibility of supplying additively manufactured parts to the global marine and oil and gas market for parts that require “class approval” prior to installation.
The scope of the approval relates to the production of “Generic Additive Manufacturing Facility Approval for Marine Applications” specifically in laser powder bed fusion on the Renishaw AM400 printer from the company in 316L material.
GROUP CATAPULT (ASX:CAT)
Catapult’s next-gen video analytics for sports teams is set to be extended to its league-wide deal with the National Hockey League in North America.
The new solution, originally designed for Formula 1 and extended to football, rugby and recently basketball, will enable the seamless integration of video capture, cloud-based sharing and information analysis contextualized performance.
Hockey teams will be able to capture, tag and present live multi-angle video and data during games or practices using Focus.
With Hub’s cloud-based playlists and presentations, information can be shared across department silos from any location and in real time, including during games or between periods.
Next, GameTracker will provide teams with new depth in their performance analysis, by connecting multiple data sets to video, allowing teams to filter and visualize information about every game, series, season and player.
Plus, there could be room to grow, according to Catapult, its hockey business has grown 7x in the past five years – and Vector Athlete Monitoring VCA in sports has doubled in the past the last year.
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