Shares of BlueBet Holdings Ltd (ASX: BBT) have slipped into the red today following the release of its FY22 results.

At the time of writing, BlueBet is trading more than 7.5% into the red at 43 cents apiece.

BlueBet shares dip as profit slumps in FY22

Key takeaways from the company’s results include:

• Turnover of $511 million, up 48.5% from FY21’s result
• Wagering revenue of $54.6 million, a gain of more than 53% from the year prior
• Gross profit growth of nearly 48% for the 12 months
• EBITDA loss of $5.5 million, down from a $4.7 million profit a year earlier
• Net loss after tax of $6.1 million, down from $3 million profit in FY21
• Net cash from operations down 84.7% year on year to $1.5 million

What else happened for BlueBet in FY22

After listing in July 2021, BlueBet saw strong results that outpaced forecast in its prospectus.

It maintained an “attractive 2.7x ratio of annual customer value to the cost of a first time depositor” by year’s end as well.

The company saw its net win margin grow by 10.7% year on year, and secured market access in 4 US states.

Furthermore, 3 additional platforms were launched in the Australian business to assist with the company’s US technology operations.

Despite incurring a loss after tax of $6.1 million, BlueBet notes that “[initial public offering] IPO proceeds largely intact due to cash generation from Australian business”.

Management commentary

Speaking on the announcement, BlueBet CEO, Bill Richmond said:

I am very proud of the progress we have made in our first year as a listed company, having achieved a number of major strategic milestones, including touching down in the US, developing a leading technology platform and continuing to grow our market share in Australia.

Our IPO provided us with the financial firepower to invest for growth. With our US B2C brand ClutchBet now live in the US, having taken our first bets in Iowa in this month, we are committed to executing the first stage of our differentiated ‘Capital Lite’ US strategy. The strength of our technology and our team is now on display as we move towards our B2B Sportsbook-as-a-Solution model in FY23.

BlueBet share price snapshot

In the past 12 months, the BlueBet share price is down nearly 83% as well as 70% this year to date. It trades in the red across all time frames.

The post BlueBet shares slide 7% despite solid revenue, margin growth in FY22 appeared first on The Motley Fool Australia.

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Motley Fool contributor Zach Bristow has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended BlueBet Holdings Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Bigtincan Holdings Ltd (ASX: BTH) share price is finding some momentum today.

Heading into lunch, shares in the sales enablement software provider are 3.7% in the green. The positive move puts the company’s share price at 70 cents. Meanwhile, the tech sector is experiencing a more subdued performance on Tuesday, with the S&P/ASX All Technology Index (ASX: XTX) up 0.91%.

This pleasing showing from Bigtincan follows the release of the company’s full-year FY22 results. Here are the highlights:

Big growth bolsters Bigtincan share price

• Annualised recurring revenue (ARR) up 126% year on year to $120.1 million
• Revenue up 143% to $108.6 million
• Gross margins improved by 3% to 88%
• Adjusted EBITDA of $4.1 million, up from $6.1 million loss
• Lifetime value (LTV) up 107% to $812 million
• LTV over customer acquisition cost (CAC) improved 13% to 4.0
• Cash at the bank of $38.9 million as at 30 June 2022

What else happened in FY22?

For a company still focused on scaling up, the full-year result for Bigtincan ticks a lot of boxes.

Most importantly, top-line growth continued its accelerating trend during the 12-month period. As noted above, revenue increased by 143% in FY22. This was fuelled by a mix of organic growth and acquisitions, split at 53% and 47% respectively. For comparison, revenue was dialled up by a smaller 41.5% in FY21.

It is worth noting that this growth did come at a cost. Operating expenses jumped 142% to $127 million in FY22 due to acquisition costs, new technology investments, network infrastructure, and engineering resources.

However, the software provider now attests to having 20% of the top 500 companies globally as Bigtincan customers. This considerable foothold in the market could be giving the Bigtincan share price a boost today.

What did management say?

In light of the record result, Bigtincan co-founder and CEO David Keane fleshed out the company’s achievements, stating:

In FY22, Bigtincan continued its strong trajectory of organic growth while adding scale through the transformative acquisition of Brainshark. We are happy with the quality of people, customers and technology that came with Brainshark and I’m very much looking forward to discussing Bigtincan’s newly integrated product offerings with our enterprise customers this year.

What’s next?

Management was confident enough in the stability of the business to provide guidance for FY23. It sure helps when the company’s revenue is 94.4% recurring in nature.

For FY23, Bigtincan management is expecting between $137 million and $143 million in ARR. Meanwhile, revenue is forecast to be in the range of $123 million to $128 million. At the midpoints, these figures would suggest improvements of 15.7% and 15.6% respectively.

Additionally, the team believes cash flow breakeven will be achieved in FY23.

Bigtincan share price snapshot

Unfortunately, the Bigtincan share price has not been an exception to the dismal performance of tech shares in 2022. So far this year, the ASX-listed sales enablement business has tumbled 35%.

As a result, the company now trades on a price-to-sales (P/S) ratio slightly below the Australian software industry average of 4.3 times. Based on the current Bigtincan share price, its P/S ratio is sitting around 3.5 times.

The post Bigtincan share price climbs amid 143% revenue explosion appeared first on The Motley Fool Australia.

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Motley Fool contributor Mitchell Lawler has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended BIGTINCAN FPO. The Motley Fool Australia has positions in and has recommended BIGTINCAN FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Dreadnought Resources Ltd (ASX: DRE) share price is stretching up in early afternoon trade on Tuesday.

Investors are rallying the ASX resources share following a company announcement on its Mangaroon project in Western Australia.

At the time of writing, the Dreadnought share price is up 9.52% to 12 cents.

Options exercised over Mangaroon

In a lengthy update, the resource explorer first advised that First Quantum Minerals Limited (TSE: FM) has exercised its earn-in option over the Mangaroon project.

“First Quantum has funded the option period and can now earn an initial 51% interest by funding $12 million of expenditure by 1 March 2026,” Dreadnought said.

The agreement covers the base metal rights over five tenements located at the site.

Additional terms state that First Quantum may withdraw at any time during the earn-in phase with 0% interest; and that First Quantum must pay Dreadnought $150,000 by 30 September 2022.

A joint venture (JV) will then be formed if and when the earn-in requirements are satisfied.

First Quantum may elect to increase its interest to 70% up until a decision to mine. This reverts to a 49% interest if First Quantum decides to stop its funding expenditure.

What else did Dreadnought announce?

In a further possible boost to the Dreadnought share price, the company said nickel copper [Ni-Cu] sulphide mineralisation has been intersected in nine out of 12 recently completed reverse circulation (RC) holes at the site.

Assays from the drilling program are expected over the next month.

Speaking on the results, Dreadnought’s managing director Dean Tuck said the company was “looking forward” to working with First Quantum:

The potential of the money intrusion to host significant, highgrade Ni-Cu-PGE mineralisation has been underscored with nine out of twelve drill holes intersecting disseminated to nettextured Ni-Cu sulphides along both sides of a bladed to funnel shaped mafic intrusion.

With only a handful of relatively shallow holes drilled to date, the Dreadnought-First Quantum team has confirmed a large scale, fertile Ni-CuPGE system.

In the past 12 months, the Dreadnought share price has lifted 160%. It is also up 180% this year to date.

The post Here’s why the Dreadnought share price is zooming 10% higher today appeared first on The Motley Fool Australia.

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Motley Fool contributor Zach Bristow has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Flight Centre Travel Group Ltd (ASX: FLT) share price is in the green on Tuesday amid rumours the company could be considering a major acquisition in the United States.

Flight Centre responded to media speculation on the potential transaction this morning. It said it is in various discussions regarding strategic opportunities.

The Flight Centre share price is currently trading at $16.94, up 1% on its previous close.

Meanwhile, the S&P/ASX 200 Index (ASX: XJO) is bouncing higher following yesterday’s 2% plunge. It’s up 0.5% right now.

Meanwhile, Flight Centre’s home sector, the S&P/ASX 200 Consumer Discretionary Index (ASX: XDJ) has lifted 0.66%.

Let’s take a closer look at the latest news affecting the ASX travel share.

Flight Centre share price up amid US acquisition rumours

The Flight Centre share price is heading north amid rumours the company is considering snapping up Altour International.

Altour is one of the largest travel management companies in the US. It boasted more than $3 billion in sales in 2019 before the pandemic hit.

Rumours that the US giant could be a takeover target for its Australian counterpart were reported by The Australian yesterday.

The publication referred to comments made in Flight Centre’s latest earnings report released last Thursday. The report highlighted the potential for merger and acquisition (M&A) activity. Indeed, the company noted its medium-term capital strategy will allow for growth, both organic and through mergers and acquisitions.

The article also noted that Altour International could be worth as much as $700 million.

The response from Flight Centre

In response to the rumours, Flight Centre today told the market:

While it is company policy to not respond to media speculation, the company has had, and continues to have, various discussions with a number of parties regarding strategic opportunities.

The company assured the ASX it is compliant with listing rules and will continue to adhere to continuous disclosure obligations.  

The Flight Centre share price has slumped 10% year to date. It’s trading flat with where it was this time last year.

Meanwhile, the ASX 200 has dumped 8% since the start of 2022. It has also fallen 7% over the past 12 months.

The post Flight Centre share price up amid M&A rumours appeared first on The Motley Fool Australia.

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• These are the 10 most shorted ASX shares
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• Corporate Travel has resumed paying them, so when can we expect Flight Centre dividends?

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Flight Centre Travel Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Grange Resources Limited (ASX: GRR) share price is having an absolute shocker, tumbling 31% since the market close on Friday.

This spectacular drop follows the release of the iron ore pellet miner’s FY22 half-year earnings yesterday.

As my Fool colleague James reported, Grange Resources shares dropped 28% to close at 98 cents yesterday. The Grange Resources share price is falling further today, down 9.74% to 88 cents currently.

Why is the Grange Resources share price falling off a cliff?

Grange Resources revealed a sharp drop in earnings over the six months ending 30 June 2022.

Here are the key metrics of the report:

• Revenue from ordinary activities of $341 million, down 24% on the prior corresponding period (pcp)
• Statutory profit after tax of $132.2 million, down 36% pcp
• Pellet production of 1.27 million tonnes, steady on pcp
• Pellet sales of 1.18 million tonnes, down 2.5% pcp
• Average pellet price of US$174.96 per tonne, down from US$260.54 per tonne pcp
• Unit cash operating costs of $113.66 per tonne, up from $100.23 per tonne pcp
• Cash, cash equivalents, and liquid investments of $369.5 million (as at 30 June) compared to $443.9 million (as at 31 December 2021)
• Net assets of $887.7 million (as at 30 June), up from $871.2 million (as at 31 December 2021)
• Final dividend of 2 cents per share with 100% franking declared, payable on 30 September.

What else happened in 1H FY22?

The question Grange Resources shareholders might be asking is how the company mined the same amount of product as 1H FY21 but achieved less revenue and profit in 1H FY22.

The miner said higher energy costs were to blame for the rise in its operating expenses. It also cited volatility in iron ore prices.

Grange Resources said an escalation of COVID-19 locally had “some impact” on activity due to increased staff absenteeism because of isolation requirements.

What did management say?

In its statement, the company said:

Despite continued volatility and uncertainty as to the future direction of iron ore prices, the market continues to recognise the quality value in use premium for high quality, low impurity iron ore products sold by Grange.

What’s next?

Grange will continue to deliver into secured term offtake agreements for all products in 2022.

Grange Resources share price snapshot

The miner’s shares are up 10% in the year to date. This compares with a 9% dip in the S&P/ASX All Ordinaries Index (ASX: XAO).

The post Why has the Grange Resources share price plunged 30% so far this week? appeared first on The Motley Fool Australia.

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Motley Fool contributor Bronwyn Allen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Dicker Data Ltd (ASX: DDR) share price isn’t going anywhere on Tuesday.

This comes after the company released its interim results for the 2022 financial year and announced a capital raise.

Currently, the technology distributor’s shares are frozen at $11.48 apiece.

Dicker Data share price records growth across all financial key metrics

• Total revenue up 36.5% to $1,459.4 million
• Earnings before interest, tax, depreciation and amortisation (EBITDA) up 19.5% to $61.2 million
• Net profit after tax (NPAT) up 7% to $34.3 million
• Earnings per share (EPS) up 6.9% to 19.85 cents
• Net cash of $26.78 million as at 30 June 2022

What happened in the first half?

For the 6 months ended 30 June, Dicker Data achieved a 36.5% increase in revenue of $1,459.4 million. The Exeed acquisition, which was completed on 6 August 2021, drove organic growth from existing and new vendors.

In Australia, total revenue lifted by 20.7% to $204.1 million, and New Zealand sales revenue jumped 226.6% to $186.4 million.

Dicker Data experienced growth across all segments, with hardware and virtual services sales at $1,085 million, up 35%. Software sales stood at $365.5 million, up 41.7%, and now represent 25% of total group revenue. Services revenue came to $6.5 million, up 34.1%, with the services business converting a number of previously deferred enterprise projects.

Operating expenses rose by $19.5 million, an increase of 38.2% on the previous corresponding period. The largest increase came from additional staff costs related to the Exeed Group acquisition and onboarding of staff transferring from the Hills SIT acquisition.

What did management say?

Dicker Data chair and CEO, David Dicker had this to say about the results:

This is another outstanding result and one that our entire team should be proud of. We continue to perform above expectations, despite the headwinds caused by supply-chain and logistical disruptions.

It is pleasing to see our recent acquisitions translating into positive results for our shareholders and I am confident that the benefit to our shareholders will continue to grow as we further bed down the operations and as these new divisions leverage the scale of the wider business.

What’s the outlook?

Looking ahead, Dicker Data didn’t provide any guidance for the second half of 2022 but stated that demand remains strong.

Growth is expected to continue across the company’s entire product portfolio, particularly with the Hills Security and IT (SIT) division. Access to this new market segment represents a significant untapped opportunity as cybersecurity has become a focus for all sectors.

Capital raise

In addition to the results, Dicker Data advised it is undertaking a fully underwritten placement to raise $50 million.

The placement will be conducted at an issue price of $10.30 per new share, representing a 10.3% discount from the last closing price of $11.48 per share.

Approximately $30 million will be used to fund the expansion of the company’s Kurnell warehouse to increase capacity by 70%. Construction is expected to commence by October 2022.

The remaining $20 million will be allocated towards working capital to provide Dicker Data with increased balance sheet flexibility.

The Dicker Data share price is anticipated to resume trading on Thursday 1 September.

The post Dicker Data share price placed on ice amid HY 2022 results and capital raise appeared first on The Motley Fool Australia.

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Motley Fool contributor Aaron Teboneras has positions in Dicker Data Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Dicker Data Limited. The Motley Fool Australia has positions in and has recommended Dicker Data Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Treasury Wine Estates Ltd (ASX: TWE) share price is having a shaky trading session so far this Tuesday. At the time of writing, Treasury Wine shares are going for $13.135 each, up 0.11% so far today.

That’s certainly not as pleasing as the performance of the broader S&P/ASX 200 Index (ASX: XJO). The ASX 200 is currently up by 0.41% at just under 7,000 points.

Indeed, it hasn’t been a great time of late for Treasury Wine. The company delivered its full-year earnings report back on 18 August. As we went through at the time, this saw Treasury report a 3.6% drop in revenues for FY22 to $2.48 billion.

But earnings rose 2.6% to $523.7 million, while net profit after tax (NPAT) increased by 4.2% to $322.6 million. Even so, investors don’t seem too delighted with these results. That’s going off how the Treasury share price has lost around 1.8% since they were released.

But let’s talk about Treasury’s latest dividend. During its earnings report, Treasury announced that its final dividend for FY22 would come in at 16 cents per share, fully franked.

That was a healthy 23% rise on last year’s final dividend. It brings the FY22 total to 31 cents per share, a pleasing rise on FY21’s total of 28 cents per share.

So what do investors need to do to secure this upcoming dividend?

How to crack Treasury Wine shares’ latest dividend

Well, they will need to act fast, for one. Treasury Wine shares are scheduled to trade ex-dividend for this upcoming payment tomorrow, 31 August.

That means that any investor who is set on receiving this payment will need to own Treasury Wine shares by the end of this trading day.

Eligible investors will then receive the payment on 30 September next month.

Treasury shareholders will have the option to receive this dividend in either cash or in the form of new shares under the company’s dividend reinvestment program (DRP).

Treasury’s DRP will be operating for this dividend. But investors won’t enjoy any share price discount for reinvestment.

At the current Treasury Wine Estates share price, this ASX 200 share will have a dividend yield of 2.37% when the dividend is doled out next month.

The post Hoping to crack open the next Treasury Wine dividend? Read this appeared first on The Motley Fool Australia.

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• Here are the top 10 ASX 200 shares today

Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Treasury Wine Estates Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Santos Ltd (ASX: STO) share price is gaining steam on Tuesday.

At the time of writing, investors have pushed the share 1.85% higher to $8.00 despite no market-sensitive news. Soon after market open, it hit a high of $8.12, a gain of 3.44% on Monday’s market close.

Meanwhile, Brent Crude oil has also reversed off six-month lows to now trade at US$104/bbl, back in line with July ranges as seen below.

What’s up with the Santos share price?

The strength in oil since August 16 has been a net positive for ASX energy players, who have also caught a bid since then.

The S&P/ASX 200 Energy Index (ASX: XEJ) has lifted nearly 11% in the past month of trade as well. It remains in the green across all timeframes, despite its volatility.

However, there remain concerns around supply and demand.

“Brent crude futures climbed to $105 per barrel on Monday, after a 4.4% gain last week, as investors balance supply-side issues against fears that a prolonged global economic slowdown will hurt fuel demand,” Trading Economics reported.

Meanwhile, Santos did release an announcement stating that it had shored up additional liquidity by extending its two syndicated bank loan facilities.

In total, this provides Santos with US$1.25 billion in liquidity via the debt issued under these loans. It will pay a floating rate of the Secured Overnight Funding Rate (SOFR) plus 1.3% to 1.5%.

“This is an excellent result for Santos, showing strong support from our bank lenders and
demonstrates our ability to access bank debt at competitive terms,” Santos chief financial officer Anthea McKinnell said.

“With these facilities in place, we now have no significant corporate debt maturities until 2027.”

What else happened today?

The rise in the Santos share price comes amid fellow ASX oil share Woodside Energy Group Ltd (ASX: WDS) releasing its FY22 half-year earnings.

As The Motley Fool reported earlier today, Woodside’s net profit after tax soared by 400% and the company tripled its interim dividend from 30 US cents to US$1.09. The Woodside share price is currently up 1.73% to $35.96.

The Santos share price remains up 31% over the past 12 months and 27% this year to date.

The post What’s boosting the Santos share price on Tuesday? appeared first on The Motley Fool Australia.

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• 5 things to watch on the ASX 200 on Tuesday
• What’s going on with the Santos share price today?
• 5 things to watch on the ASX 200 on Monday
• Up 13% in a month, is the Santos share price still attractive?
• Earnings highs and lows, and energy policy in focus. Scott Phillips on Nine’s Late News

Motley Fool contributor Zach Bristow has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Nitro Software Ltd share price (ASX: NTO) is in a trading halt on Tuesday.

Shares of the document productivity company are currently frozen at $1.13 each — the price they closed at on Monday.

Let’s look into why the company’s shares are not trading today.

Nitro trading halt

Nitro Software requested a trading halt this morning. The company said the trading of its shares should be suspended while it waits to receive a proposal relating to a potential change of control transaction.

There are several things a change of control transaction could mean in this scenario but, usually, it involves transferring assets from one entity to another.

The halt was requested until Nitro Software either makes the intended announcement from the proposal or until the start of trade on Wednesday.

Yesterday, Nitro shares closed more than 6% lower amid the company posting a $25 million loss in its earnings report for FY22.

Nitro share price snapshot

The Nitro share price is down around 55% year to date. By comparison, the S&P/ASX 200 Index (ASX: XJO) is around 8% lower over the same period.

The company’s current market capitalisation is $276 million.

The post Why is the Nitro Software share price halted today? appeared first on The Motley Fool Australia.

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Motley Fool contributor Matthew Farley has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Nitro Software Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Cettire Ltd (ASX: CTT) share price shot up on Tuesday morning after its 2022 financial results revealed explosive growth.

The stock was up 16% at one stage, but has settled down to $1 at the time of writing for a gain of 13.7%.

What did the company report?

• Revenue up 127% to $209.9 million
• Net loss after tax up 7,494% to $19 million
• Active customers up 127% to 260,249
• 50% of gross revenue is from repeat customers, compared to 40% in FY2021
• Adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) at negative $21.5 million, from positive $2.35 million in FY2021

The company attributed the huge earnings dip to “significant investment to scale platform”. 

What else happened in FY22?

In February, Cettire celebrated a deal with Chinese e-commerce giant JD.com Inc (NASDAQ: JD) that was meant to open up a $150 billion addressable market. The retailer also launched a beauty vertical in January, which got its foot in the door of a $100 billion global addressable market.

In the background the company continued to invest in its systems to scale it out for growth.

What did management say?

Founder and chief executive Dean Mintz said:

In FY22, Cettire continued its rapid scaling. Sales revenues have increased almost 10x in the last 2 years as our proposition has gained traction and we have invested to capture the global market opportunity. We finished the FY22 year with much stronger foundations than the beginning of the period. 

During FY22, we made significant advancements to our technology platform. We now own the technology stack across the end-to-end customer journey, having launched and migrated all traffic to our proprietary storefront software. This is a major milestone and provides significant incremental functionality and flexibility to support our global growth. 

What’s next?

While the company gave no specific guidance for the 2023 financial year, it did forecast EBITDA would turn positive.

Mintz said:

Our greater scale has facilitated rapid growth in our supply chain, which in turn enables us to better serve and attract more customers. We have also secured improved terms with some of our partners which support better unit economics over time. Cettire is a business that will only get better and stronger as we grow.

We’re really excited and encouraged by the early FY23 results achieved during July and August. We have observed continued strong revenue growth as our marketing continues to optimise following adjustments to our operating settings. It is pleasing to see that our increased emphasis on profitable growth is already delivering results based on July’s trading performance, and we have demonstrated in prior financial years that the business can generate healthy profits when it is operated to do so. We have a nimble and flexible business model with a largely variable cost base and minimal inventory risk. This enables us to adjust quickly to market conditions and optimise performance.

Looking ahead, successfully launching in China and beauty remain key focus areas within our growth strategy into FY23.

Cettire share price snapshot

Cettire was well-received by the market in the first half for its explosive growth, sending the shares up about 60% to their mid-November peak. The newcomer actually overtook established e-commerce peer Kogan.com Ltd (ASX: KGN) by market capitalisation in September.

But like many growth stocks, it’s been a sorry story in the second half. The Cettire share price has fallen more than 73% since the start of 2022.

It hasn’t helped that there has been constant speculation that Mintz would offload his shares as soon as escrow restrictions would allow.

And indeed in March, he did exactly that. Mintz sold down 35 million shares in the company, which represented an astounding 9.18% of the issued capital at the time.

The post Cettire share price takes off after 127% revenue jump appeared first on The Motley Fool Australia.

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More reading

• Could these devastated ASX shares make a roaring comeback?
• Are the stores themselves on sale?

Motley Fool contributor Tony Yoo has positions in Cettire Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Cettire Limited and Kogan.com ltd. The Motley Fool Australia has positions in and has recommended Kogan.com ltd. The Motley Fool Australia has recommended Cettire Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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