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icetana’s Largest Customer Extends Contract and Receives First South America Order
icetana Limited (ASX: ICE “icetana” or “the Company”) advises that a purchase order has been received following negotiations for a new Software Maintenance Agreement with Majid al Futtaim Properties (LLC) (“MAF”).
Highlights:
- icetana has received a purchase order for its largest Middle East shopping mall contract.
- The existing service contract which expires this month has been renewed at US$350,000 per annum in recurring license fees.
- icetana has also received it’s first order from a South American client with NEC Argentina
The renewal covers the 12 months from April 2022 to March 2023 with a license fee of US$350,000 (A$465,000) for existing cameras already installed and being actively used by MAF at over 16 shopping centres throughout the Middle East.
MAF has been a strong referring customer of icetana since 2016 and icetana’s motion intelligence system provides enhanced security whilst saving money on guards as an integrated part of MAF’s mall operations.
icetana looks forward to a continued positive relationship with MAF as COVID conditions improve and shopping mall operations return to full capacity.
As part of our expanded sales strategy into new markets, icetana has also received an order from NEC Argentina which is the company’s first revenue from the South American market. This follows the previously announced (8 December 2021) signing of a development collaboration Memorandum of Understanding.
Development of icetana’s next generation motion intelligence product has accelerated over the past three months and four trial customers have been secured for the beta release during April 2022.
Material terms of commercial arrangements:
For MAF:
The contractual arrangement disclosed in this announcement is directly between ICETANA SYSTEMS SOFTWARE TRADING L.L.C a Dubai-based subsidiary of icetana and the end-user Majid al Futtaim Properties (LLC) (“MAF”) and is an Addendum to a pre-existing Software Maintenance Agreement (“SMA”) first signed in June 2019.
MAF is subject to the End User Licence Agreement as published on the icetana website.
The payment terms for this contract from MAF to icetana are 30 days for the annual lump sum. MAF has been a client of icetana since 2016 with a positive payment history.
The agreement has renewed for a one year term and will again be subject to a renewal or extension in March 2023. It is therefore possible that no revenue over and above the value disclosed from this annual renewal materialises from MAF pursuant to this commercial arrangement going forward. Either party may terminate the contract on 30 days of notice.
For NEC Argentina:
The contractual arrangement disclosed in this announcement is directly between icetana and NEC Argentina rather than the end user and is valued at US$15,000 over three years. NEC Argentina and the end user is subject to the End User Licence Agreement as published on the icetana website.
The payment terms from NEC Argentina to icetana are 30 days from receipt of purchase order. NEC Argentina is part of the global NEC group and debt risk is very low.
The order provides for a three year development term and will be subject to a renewal or extension in January 2025. It is therefore possible that no revenue over and above the initial order value materialises from NEC Argentina pursuant to this commercial arrangement going forward. There is no termination clause with this order.
Click here for the full ASX Release
This article includes content from icetana Limited , licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
How to Invest in Technology (Updated 2024)
The evolution of technology has undoubtedly grabbed the interest of the general public and investors alike as innovation in diverse categories continues to move forward at a remarkable speed.
Overall, the technology sector has come a long way in the last two decades. In March 2000, the S&P 500's (INDEXSP:.INX) technology index hit its peak of 988.49 points, rising by almost 500 points in the five years leading up to the dotcom bubble. Similarly, the NASDAQ reached an all-time high of 5,000 points during this milestone period.
As of March 2024, the S&P 500's technology index had grown by more than 500 percent, while the NASDAQ had more than tripled. The tech market is now dominated by large players, with companies like Meta Platforms (NASDAQ:META), Apple (NASDAQ:AAPL), Amazon (NASDAQ:AMZN), Netflix (NASDAQ:NFLX) and Alphabet (NASDAQ:GOOGL) creating vast monopolies.
With so much growth in the technology sector over the last two decades, tech developments are disrupting and shaping our cultural fabric at unprecedented speeds. Industries such as finance, real estate, transportation and healthcare are transforming with current technological advancements. Here's a breakdown of why investors should pay attention.
What should investors know about the tech market?
The past decade or so has seen the evolution of countless tech-related industries.
Take, for example, the cable industry, which has been transformed by video streaming. As of Q4 2023, Netflix (NASDAQ:NFLX) had expanded to over 190 countries worldwide with a subscriber base of 260 million. The streaming service giant generated US$33.7 billion revenue in 2023, a 6.6 percent increase on the previous year. Amazon Prime Video has also exploded in recent years, with over 230 million subscribers and revenues of US$40.2 billion in 2023.
Apple's Apple TV Plus and Disney's (NYSE:DIS) Disney Plus have joined the ranks of video-streaming service companies as well. While Apple has withheld the number of users it has garnered since launching in 2019, estimates put at upwards of 25 million for 2023. Disney Plus, which debuted the same year, had amassed more than 150 million subscribers as of February 2024.
Gaming is another industry benefiting from advancements in streaming technology. The mobile gaming market is growing faster than any other gaming segment in the world, according to market intelligence firm Precedence Research, which estimates that the segment brought in US$184.4 billion in 2022, equivalent to about half of global gaming revenue. In the years ahead, growth in global smartphone sales, cloud gaming, 5G and mobile infrastructure are expected to sustain growth in the mobile gaming sector.
The "fourth industrial revolution" has been tied to various disruptive technologies, including artificial intelligence (AI), 3D printing, and blockchain. The global AI market was worth US$196.63 billion in 2023, according to a Grand View Research report, with research and innovation spurring activity in verticals like the automotive, healthcare and finance industries. These segments are adopting solutions like machine learning, robotics, neurolinguistic programming and querying methods.
3D printing, valued at US$20.37 billion in 2023, may be a niche market, but it's growing rapidly based on a number of factors including the technology’s variety of benefits, such as mass customization, the production of complex parts and the ability to improve efficiencies in the manufacturing process.
Blockchain has, of course, also garnered interest in the tech sector; the size of the global market hit US$17.46 billion in 2023. Within this tech space, Grand View Research highlights “DeFi as an emerging financial technology based on blockchain, which reduces the control banks have on financial services and money.”
Which tech sectors have the most potential?
When looking at the technology market worldwide, its reach is almost untouchable — the 10 largest tech firms have a massive combined market capitalization of more than US$27 trillion.
Deloitte posits that the drive by enterprises to embrace digital transformation is pushing the growth of emerging technologies such as cloud computing, artificial intelligence and cybersecurity. “Analysts estimate that public cloud spending will grow by more than 20%, and they foresee stronger demand for cybersecurity. AI investment (not specifically generative AI) is also seen as contributing to overall spending growth. Economists have projected that AI-related investments could reach $200 billion globally by 2025, led by the United States,” Deloitte notes in its technology industry outlook.
With exciting and profound advancements in natural language processing and prediction, AI adoption is beginning to pick up, particularly with the advent of OpenAI's ChatGPT. The evolution of AI is projected to influence and shape society, and analysts estimate that revenues from AI will grow at a CAGR of 37.3 percent to reach more than US$1.81 trillion in 2030.
The mobile gaming market will also see growth in the years ahead, rising at a CAGR of 10.39 percent to reach an estimated US$164.81 billion by 2029. “The development of mobile games has resulted in scalability for the gaming industry. Platforms like Facebook and Instagram have also started to develop innovative mobile games to ensure high product differentiation and benefit from engaging games to enhance their advertisement strategies," states Mordor Intelligence in a recent report on the industry.
As for the future of 3D printing, Grand View Research projects a CAGR of 23.5 percent, which would create a market worth US$88.28 billion by 2030. According to the firm, that growth will be driven by increasing prototyping applications from industries like healthcare, aerospace and defense, as well as "aggressive research and development" on 3D printing.
Blockchain is another of the most promising sectors in the future of the tech space. Grand View Research is forecasting a CAGR of 87.7 percent between 2023 and 2030 to reach a market value of more than US$1.43 trillion. Blockchain's use for the healthcare sector is expected to experience the fastest growth during the period mentioned, driven by the demand for digitization in the industry and an increasing number of regulations aimed at protecting patient data.
How to invest in the tech industry?
Within the broad scope and magnitude of the tech industry, there are countless ways investors can gain exposure to transformative and disruptive technologies.
Exchange-traded funds (ETFs) provide exposure to a basket of securities and are a popular and often inexpensive method for investing. Here’s a brief overview of a few technology ETFs for consideration:
- iShares US Technology ETF (ARCA:IYW): This ETF began on November 12, 2001, and has 138 holdings. It covers big tech names such as Microsoft (NASDAQ:MSFT), Apple, Meta Platforms and Alphabet.
- Technology Select Sector SPDR (ARCA:XLK): This fund has 66 holdings and was started on December 16, 1998. It also holds major names, including NVIDIA (NASDAQ:NVDA), Broadcom (NASDAQ:AVGO) and Cisco (NASDAQ:CSCO), along with Apple, Microsoft and Alphabet.
- iShares Global Tech ETF (ARCA:IXN): Unlike the iShares US Technology ETF, this iShares fund focuses on technology companies from around the world. Founded in 2001, it provides exposure to Japan, Korea, Taiwan and Germany, but also offers a percentage of exposure to US companies. Its international holdings include Samsung Electronics (KRX:005930) and Taiwan Semiconductor Manufacturing Company (NYSE:TSM,TPE:2330).
More advanced investors or those willing to do their research may want to look at stocks in the tech space. Large-cap technology stocks are a good place to start, but it's possible to get specific as well — AI, robotics, esports, virtual reality and blockchain are just a few niche sectors those interested in tech may want to look into.
This is an updated version of an article originally published by the Investing News Network in 2016.
Don't forget to follow us @INN_Technology for real-time news updates!
Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.
5 Biggest ASX Technology ETFs in 2024
It's indisputable that we're in an era of technology and our technological capabilities are exponentially increasing.
If you aren't reading this on a personal computer or laptop — unthinkable in 1970 — you're probably using a smartphone, and phones that can access the internet have only been around since 1996. For a further example, Apple's (NASDAQ:AAPL) meteoric rise is just as well known and needs no elaboration. The fact of the matter is that technology is integral to our life and advancements in the industry are shaping the future.
For any investor, the tech sector may be a desirable investment opportunity, and ETFs can be a safer way to get into an industry. For those unfamiliar, an ETF, or exchange-traded fund, is a basket of securities that is traded like a stock on an exchange and comes in many different types — market ETFs, foreign market ETFs, commodity ETFs and so on. Advantages include lower expense ratios, diversification and fewer broker commissions. One disadvantage is a low level of liquidity.
Here the Investing News Network looks at ASX technology ETFs for those interested in investing in the digital future.
How to invest in ASX technology ETFs?
ETFs, by their nature, are diverse or somewhat diverse options for investors. As mentioned, they’re a basket of securities, which means they can hold multiple stocks in a sector or may even cover more than one industry.
Fast-growing and already robust, Australia's tech sector is worth 8.5 percent of the country’s total GDP, or AU$167 billion. Furthermore, as of 2022, Australia ranked 16th in the world for digital competitiveness. Given the scale of the tech market in Australia and globally, ETFs can be a good choice for investors.
Beyond diversity, one of the main advantages of an ETF is the ability to buy and sell at any time during the trading day. That's in contrast to mutual funds, which trade at the end of the day.
One thing to watch for with ETFs is portfolio duplication. If your portfolio is diverse, make sure you aren't going to create a redundancy with an ETF — you can do this by checking your total exposure in a given sector, not just the exposure given by the ETF.
What are the biggest ASX technology ETFs?
Below, we’ll list some of the biggest ETFs in the Australian tech sector. The funds are listed in order of market capitalisation, with data gathered using TradingView’s stock screener on February 29, 2024.
1. Betashares NASDAQ 100 ETF
Market cap: AU$4.3 billion; year-to-date gain: 11.45 percent; current share price: AU$41.59
The Betashares NASDAQ 100 ETF (ASX:NDQ) devotes 50.4 percent of its holdings to technology, with the next-highest category, communication services, ranking at 15.5 percent.
2. Betashares Global Cybersecurity ETF
Market cap: AU$936.17 million; year-to-date gain: 11.19 percent; current share price: AU$12.12
The Betashares Global Cybersecurity ETF (ASX:HACK) specialises in cybersecurity, a market that protects and enhances other tech companies' offerings. The ETF's holdings are almost fully in the tech sector, with about 89 percent falling under that umbrella; about half of those are focused on systems software. As technologies advance, so do threats, making these services necessary for businesses and individuals.
3. Betashares Asia Technology Tigers
Market cap: AU$465.59 million; year-to-date gain: 6.05 percent; current share price: AU$8.06
The Betashares Asia Technology Tigers (ASX:ASIA) has is wholly focused on technology companies in Asia ex Japan, with 25 percent being in semiconductor companies. As for countries, China and Taiwan both make up about 35 percent of the ETF's holdings, with South Korea and India making up the majority of the remainder. Of course, this makes it not as globally representative as the other ETFs on this list.
4. Morningstar Global Technology ETF
Market cap: AU$362.21 million; year-to-date gain: 9.8 percent; current share price: AU$107.81
As its name implies, all of the holdings of the Morningstar Global Technology ETF (ASX:TECH) are in the tech sector. Although it does have holdings in several countries, the lion's share come from the US at around 67.2 percent.
5. Global X ROBO Global Robotics & Automation ETF
Market cap: AU$245.92 million; year-to-date gain: 4.26 percent; current share price: AU$76.58
The Global X ROBO Global Robotics & Automation ETF (ASX:ROBO) invests in robotics and automation stocks from around the world. Its portfolio includes companies that create these technologies and those that utilise them, such as companies involved in artificial intelligence, autonomous vehicles, industrial robots and more.
This is an updated version of an article first published by the Investing News Network in 2022.
Don’t forget to follow us @INN_Australia for real-time news updates!
Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.
Heritage Clearances Received for Priority Drill Targets at Abbotts North
Premier1 Lithium (ASX:PLC) (“Premier1” or the “Company”) is pleased to announce that heritage clearances have been received for the first stage of the exploration drilling program at the Company’s Abbotts North Project located 35km north of Meekatharra, Western Australia.
HIGHLIGHTS
- Heritage clearances have been received for areas covering priority lithium pegmatite targets at the Abbotts North Project.
- Main Buttamiah Prospect now accessible for the February RC program
- Track and drill pad establishment has commenced and RC drilling rig is mobilising to site.
“With the receipt of the heritage survey report and the recent approval of the Programme of Work applications by the Department of Mines, Industry Regulation and Safety, we now have in place all the environmental and heritage approvals required for the first drilling program at Abbotts North. I thank the traditional owners of Abbotts North, the Ngoonooru Wajarri, for their advice and involvement in the process.
With site mobilisation having commenced and the RC rig already on its way, this is an important and exciting phase for Premier1.”
Priority Targets
The survey area covers the main Buttamiah Prospect where several parallel lithium bearing pegmatites have been mapped and sampled. The pegmatites strike approximately east west and single pegmatites can be traced in strike over an extended area. The RC program has been designed to test the depth and extent of the mineralised pegmatite field.
There remain further priority targets at the Abbotts North Project based on the latest completion of the first phase of field mapping, rock chip sampling and soil geochemistry in December 2023. The results from the soil survey highlighted areas of interest with anomalous responses comparable to the geochemical signature over the main Buttamiah Prospect (ASX 22 January 2024). Further follow up fieldwork will be conducted to assess these new priority targets and plan for further heritage clearance surveys.
Heritage Survey
The first heritage clearance survey at Abbotts North was completed by Archaeological Excavations Pty Ltd in conjunction with the Ngoonooru Wajarri people, who are the traditional owners of the lands and waters. The survey was conducted over several days, with participants from Archaelogical Excavations, the traditional owners and Premier1.
Figure 1: Abbotts North Survey Area.
Programme of Work (“PoW”) approvals have been received from the Department of Mines, Industry Regulations and Safety (“DMIRS”) for 4.92ha of land within Exploration Licence E51/2126 (Table 1).
Premier1 Lithium now has in place sufficient PoW and heritage clearances to conduct RC drilling over the main target areas at the Abbotts North Project. The first drilling program is planned for approximately 2,000m. The focus is to define the continuity and extent of lithium mineralisation evident in rock chip samples taken from surface within the main Buttamiah Prospect.
Click here for the full ASX Release
This article includes content from SensOre, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Quarterly Activities Report to 31 December 2023
SensOre Limited (ASX: S3N or the Company), soon to be renamed Premier1 Lithium (ASX:P1L), is focused on tapping into the potential of Western Australia’s renowned lithium reserves. Its strategic exploration approach in this world-class mining jurisdiction is driven by a commitment to uncover valuable resources efficiently and effectively.
Highlights
- Capital Raising - $3m placement to new and existing institutions and sophisticated investors
- Demerger of technology business unit via in-specie distribution which took effect January 2024 Exploration gathering momentum:
- Abbotts North – Soil results at Abbotts North expanded the potential area of prospectivity
- Heritage survey successfully completed in December 2024 at Abbotts North
- Contract for RC drilling signed with Precision Exploration Drilling Pty Ltd
- Yalgoo – Tenure added with new farm-n signed with Firetail Resources
- Other Li Projects – Advanced data analysis and field programs on all projects Corporate – the SensOre board was reconstituted on 25 January 2024
- Abbotts North – Soil results at Abbotts North expanded the potential area of prospectivity
- Cash balance at 31 December 2023 $0.53m prior to proceeds of $3m raise received January 2024
Exploration
SensOre is working on a pipeline of promising lithium projects with Abbotts North being the premier exploration project hosting outcropping lithium bearing pegmatites.
Safety and Environment
SensOre conducted field exploration activity with no reportable ESG related incidents in the quarter.
Abbotts North Project
All heritage and environmental approvals are on track to facilitate first pass drilling in February 2024 with site mobilisation scheduled for 29 January 2024. Drilling will be undertaken by Precision Drilling Pty Ltd. The RC program is designed to drill test a series of outcropping lithium bearing pegmatite units along ~500-600m of strike length within the main Buttamiah Prospect area. The pegmatites show previously reported grades of up to 1.25% Li2O at surface. Approximately 2,000m of RC drilling is planned to test for lithium mineralisation continuity at depth and assess pegmatite scale, geometry and mineralogy.
Abbotts North Lithium Project
SensOre has also completed the first pass lithium targeted soil geochemistry program at the Abbotts North project for a total of 600 samples. Factor analysis (FA) was employed at Abbotts North with the purpose of identifying multielement signatures within the soil assay samples which may be indicative of Li mineralisation. The work was successful in identifying spatial and geochemical associations between lithium mineralisation and mapped geology. The results from the soil survey highlighted new areas of interest with anomalous responses comparable to the geochemical signature over the main lithium bearing pegmatite field. The soil anomalism also correlates with prominent structural contacts and corridors.
Click here for the full ASX Release
This article includes content from SensOre, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Programme of Work Approved and New Soil Results at Abbotts North Project, WA
SensOre Limited (ASX: S3N or the Company) is pleased to report results from soil sampling at the Abbotts North project and the approval of the Programme of Work (PoW).
Highlights
- New pegmatites have been identified at the Abbotts North project building on those previously announced in September 2023.
- First soil sample program was successful in locating previously unmapped sub-cropping pegmatites.
- Programme of Work (PoW) has been approved.
- Site mobilisation scheduled for 29 January 2024.
- Drilling is on schedule to begin in February 2024.
- Re-branding of SensOre (ASX:S3N) to Premier1 Lithium (ASX:P1L) awaiting final ASIC and ASX approval
SensOre has also completed the first pass lithium targeted soil geochemistry program at the Abbotts North project for a total of 600 samples. Factor analysis (FA) was employed at Abbotts North with the purpose of identifying multielement signatures within the soil assay samples which may be indicative of Li mineralisation. The work was successful in identifying spatial and geochemical associations between lithium mineralisation and mapped geology. The results from the soil survey highlighted new areas of interest with anomalous responses comparable to the geochemical signature over the main lithium bearing pegmatite field. The soil anomalism also correlates with prominent structural contacts and corridors.
Subsequent ground truthing of the prioritised soil anomalism located ~2km Southeast of the main lithium bearing pegmatites confirmed the presence of discreet sub-cropping pegmatites in the vicinity of the anomaly. The full strike extent of these new pegmatites has not been defined and remains open.
Follow-up work is required to assess these new areas.
SensOre CEO Richard Taylor commented: "The potential at Abbotts North continues to grow for us. We have barely scratched the surface in terms of the areas potential and we are encouraged that with every field program we are seeing new opportunities emerge. These results set the scene for our drill program in February.”
Click here for the full ASX Release
This article includes content from SensOre, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Top 5 ASX Technology Stocks
Australia is home to a thriving tech sector with investment opportunities across a variety of subsectors.
The tech sector contributed about AU$167 billion to the Australian economy in the 2020/2021 period, an increase of 79 percent from 2016. That represents a growth rate that is more than four times that of most industries — in fact, the tech arena is the third largest economic market in Australia, behind only mining and finance/insurance. Its growth is expected to continue over the coming years, according to Global Australia, with a projected contribution of AU$250 billion by 2030.
Unsurprisingly, many tech stocks on the ASX have performed well in this landscape. Below the Investing News Network profiles the five top ASX technology stocks by year-on-year share price performance. Data was gathered on January 9, 2024, using TradingView’s stock screener, and all companies listed had market caps above AU$10 million at that time.
1. eCargo Holdings (ASX:ECG)
Year-on-year gain: 250 percent; market cap: AU$30.15 million; current share price AU$0.049
The first top-gaining ASX tech stock on this list is digital supply chain solutions provider eCargo Holdings, which helps its clients find operational efficiencies and expand their market footprint in Asia. The company offers brands across various sectors solutions for logistics, ecommerce, online-to-offline distribution and B2B supply chain services.
eCargo kicked off 2024 with the announcement of a AU$5 million private debt facility with credit investment firm AlteriQ Global. The deal will help eCargo continue to grow its proprietary B2B ecommerce platform, known as Flow. “This marks the first time we have secured external funding since listing, which demonstrates the maturity of our business model in the market,” commented eCargo CEO Lawrence Lun.
2. ClearVue Technologies (ASX:CPV)
Year-on-year gain: 216.67 percent; market cap: AU$132.19 million; current share price AU$0.57
Solar energy tech firm ClearVue Technologies has developed advanced glass technology that allows for energy-efficient windows and the integration of photovoltaics into building surfaces to provide renewable energy. The company has had commercial success in global markets and has been growing its footprint in its home country as well.
In early January of this year, ClearVue secured its first domestic manufacturing and distribution agreement through a deal inked with leading Australian glass-processing specialist MS Glass; the company also received its first commercial order in Australia to supply Generation 2 ClearVuePV solar windows for a building construction project for Melbourne's Construction, Forestry, Maritime and Employees Union.
3. Dug Technology (ASX:DUG)
Year-on-year gain: 190.84 percent; market cap: AU$227.39 million; current share price AU$1.90
Next on this list of top-gaining ASX tech stocks is Dug Technology, a leader in high-performance computing (HPC) that specialises in analytical software development. With a focus on sustainability, Dug’s network of supercomputers includes some of the largest and greenest in the world. The global tech company provides software products and cloud-based HPC-as-a-service, along with onboarding support. Its client base spans a wide variety of industries, including radio-astronomy, biomedicine and meteorology, as well as the resource, government and education sectors.
In a business update for Q1 of its 2024 fiscal year, Dug Technology reported US$30.9 million in new services projects awarded during the quarter, a 186 percent increase year-on-year. The company's total revenues for the period came in at US$12.9 million, up 15 percent year-on-year.
4. Gentrack Group (ASX:GTK)
Year-on-year gain: 158.26 percent; market cap: AU$621.56 million; current share price: AU$5.94
Cloud-first technology company Gentrack Group provides enterprise billing and customer management software solutions for the cleantech and utilities industries. Its client base includes more than 50 energy and water companies.
In November 2023, Gentrack reached a significant milestone in its global expansion initiative with the opening of its Middle East hub in Riyadh, Saudi Arabia; it previously opened a Singapore office in 2022. Released the following month, the company’s annual report for 2023 highlights revenue growth of 34.5 percent year-on-year, as well as EBITDA growth of 185 percent and a 79.6 percent increase in net cash over the same period.
5. Bluglass (ASX:BLG)
Year-on-year gain: 120.12 percent; market cap: AU$89.86 million; current share price: AU$0.055
Bluglass is a developer of semiconductor manufacturing technology and devices. It provides gallium nitride (GaN) photonics-based custom laser diode and LED development for the industrial defense, display and scientific markets.
Bluglass secured the first purchase order for its alpha GaN Distributed Feedback lasers in January of this year. The purchaser is a photonics and fibre-based laser technology company that will use the GaN Distributed Feedback lasers for testing in the development of applications in the defense, aviation and science fields.
Don’t forget to follow us @INN_Australia for real-time news updates!
Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.
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