At the small end of the Australian share market, there are a number of companies with the potential to grow materially in the future.

Three that investors might want to get better acquainted with are listed below. Here’s what you need to know about them:

Bigtincan Holdings Ltd (ASX: BTH)

The first small cap to watch is Bigtincan. It is a provider of enterprise mobility software to sales and service organisations. This platform allows users to increase sales win rates, reduce expenditures, and improve customer satisfaction through improved mobile worker productivity.

The company has been a strong performer so far in FY 2021. As a result, management advised that is on course achieve the top end of its annualised recurring revenue (ARR) guidance range of $49 million to $53 million this year. This will be a 48% increase on FY 2020’s ARR of $35.8 million.

PlaySide Studios Limited (ASX: PLY)

Another small cap ASX share to look at is PlaySide Studios. It is one of the largest independent video game developers in Australia. The company has a growing portfolio of developed games, including ones based on its own original intellectual property and those of Hollywood studios such as Disney.

During the first half of FY 2021, PlaySide reported record first half sales revenue of $5 million. This was up 63% on the prior corresponding period. This is still only a very small slice of its global market opportunity.

Pointerra Ltd (ASX: 3DP)

Another small cap to look at is Pointerra. It is a leading provider of a cloud-based solution for managing 3D point clouds and datasets. Its technology solves problems in the digital asset management workflows and allows 3D datasets to be used without the need for performance computing.

Management estimates that it has a global market opportunity worth an enormous $500 billion annually. This gives Pointerra a very long runway for growth over the 2020s and beyond.

More reading

• 3 exciting small cap ASX shares to watch closely
• 2 quality small cap ASX shares rated as buys
• Looking for the next Afterpay and Zip? Try these small cap ASX shares
• These ASX tech shares are all trading near their lowest prices in months
• 2 excellent ASX mid cap shares to buy

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends BIGTINCAN FPO. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Pointerra Limited. The Motley Fool Australia has recommended BIGTINCAN FPO and Pointerra Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Australia and New Zealand Banking GrpLtd (ASX: ANZ) is reportedly shutting 15 more branches, taking the closure count to a whopping 146 in just over a year.

According to the Finance Sector Union (FSU), the big bank will permanently close 9 branches in NSW, 2 in Victoria, and 4 in Western Australia over June, September and October.

“ANZ takes the cake as the worst performer when it comes to deserting communities around Australia,” said FSU national secretary Julia Angrisano.

“This is a bank which lives up to the banking Royal Commission’s description of banking as being driven by greed and short-term gain.”

Angrisano added that during the COVID-19 downturn, the federal government supported the big banks to protect the national economy.

“So in our view, banks have an obligation to continue to provide a service to the community,” she said.

“But ANZ doesn’t understand that basic principle. ANZ is obsessed with putting profits before people.”

ANZ retail managing director Katherine Bray told The Motley Fool that customers continued to shift from physical branches to online and telephone banking.

“This has been one of the biggest changes across the industry and the broader economy in recent years as people go online for everyday things such as grocery shopping, watching a film or doing their tax return,” she said.

“Last year alone, 70% of our customers preferred digital banking options and many of our few remaining passbook-only customers have been choosing to use debit cards for the first time.”

Only 12% of customers attended branches last year, according to Bray, meaning ANZ was completing just one transaction per customer per month in person.

The ANZ share price was up 0.59% trading at $28.99 near the close of trade on Monday afternoon. It was almost half that a year ago, trading at $16.15.

Thousands impacted by latest round of closures

Angrisano claimed the latest 15 closures, which are all in regional and rural areas, would impact “thousands of customers” who would now have to travel long distances for alternatives.

“How long can Scott Morrison and Josh Frydenberg ignore the damage being done to regional Australia by the big four banks, which simply don’t care about the people and businesses they are deserting?”

The FSU also claims 54 ANZ staff would be laid off. 

They will miss out on the bank’s COVID-enhanced redundancy package, which guaranteed a minimum 9 months of redundancy pay, as that program ended on 1 April.

“That was a program which recognised that bank workers could face difficulty securing a new job because of COVID. In our view, nothing has changed and with the vaccination program still to be rolled out [while] the pandemic continues to affect the numbers of jobs on offer,” said Angrisano.

“If you live and work in a regional town, your opportunities for redeployment are virtually nil.”

ANZ would try to retain as many staff as possible, according to Bray.

“Of our employees that were working in a branch that closed last year, we were able to find new roles or redeployment opportunities for nearly all of them that wanted to stay with ANZ, including at remote locations,” she said.

“For all employees who leave, we provide access to unlimited career coaching and outplacement support as well as access to our career training fund. Where people face financial hardship after leaving ANZ, we will provide access to our Past Employee Care Fund to support them.”

Shift to online banking

When explaining branch closures, ANZ and other banks always claim its customers now prefer to do their banking online.

Angrisano disagreed, claiming it’s the banks that are driving the push to online, rather than the other way round.

“We know the community is not ready for managing their finances online because one third of bank customers either don’t have a computer, do not have sufficient skills or are not interested in taking up online banking,” she said.

“Bank staff have been pressured by the use of ‘targets’ to move customers online. And in each of the banks, limits have been imposed on the number of over-the-counter transactions.”

Bray said ANZ has been proactively training customers to assist them with branch-free banking.

“Our dedicated customer team has proactively called thousands of elderly and vulnerable customers help them navigate the ANZ App and assist them with other options – including using other major bank and Armaguard ATMs for free to withdraw cash.”

More reading

• The Westpac (ASX:WBC) share price is the best performing of the big four banks in 2021
• ASX 200 Weekly Wrap: ASX 200 hits new post-COVID high
• Which big 4 ASX bank is going to pay the biggest dividend in FY21?
• Why NAB (ASX:NAB) shares could take off: fundie
• Can the ANZ (ASX:ANZ) share price go even higher?

Motley Fool contributor Tony Yoo 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 Bruce Jackson.

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Us Aussies love our food. So, it makes sense these 2 food shares have been relishing their time on the ASX, each reaching 52 week highs today.

Investors who got on board these tasty ASX shares this time last year will be rejoicing.

Let’s take a look at the year that’s been for these 2 ASX food shares.

Costa Group Holdings Ltd (ASX: CGC)

The Costa Group share price was minimally impacted by last year’s recession, having had a rotten performance through 2019. But, it seemed to be recovering nicely. Today, it’s trading at its highest share price on the ASX in 52 weeks.

Costa Group is an Australian horticultural company. It grows, packs and markets fresh fruit and vegetables.

This time last year, the Costa Group share price was $2.87. Since then, it’s gained a whopping 66.5% and shares in the company are trading for $4.78.  

The last 12 months have been good to Costa Group. The company released stellar half year results, signed a lease implementation deed with Macquarie Infrastructure and Real Assets, and brought on a new CEO.

Costa Group has a market capitalisation of around $1.9 billion, with approximately 400 million shares outstanding.

Bega Cheese Ltd (ASX: BGA)

Bega Cheese has had a good 52 weeks on the ASX, with today marking its highest share price since 2018.

At the time of writing, shares in the company are going for $6.52. This time last year, its shares were swapping hands for $5.21. That’s an increase of 25% over the last 12 months.

Over the last year, Bega has acquired Lion Dairy & Drinks and won a lawsuit over Fonterra to use its brand on Vegemite and peanut butter.

At this point in time, Bega is only 15% lower than its all-time highest closing price. Meaning, all eyes will be on the company over the next few months to see if its share price continues to grow.

Bega has a market capitalisation of around $1.9 billion, with approximately 302 million shares outstanding.

More reading

• Why the Vitalharvest (ASX:VTH) share price is up 21% in 2021
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• ASX 200 up 0.45%: Premier Investments results, Xero acquisition, Computershare halted

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned.

The Motley Fool Australia owns shares of and has recommended COSTA GRP FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Zenith Minerals Ltd (ASX: ZNC) share price is on an absolute tear. At the time of writing, the lithium miner is trading for 20 cents per share. It is down on today’s intraday (and 1-year) high of 21.5 cents a share — which marked a 66% gain — but is still 50% higher than the previous day’s close.

The positive price movement comes as the company announced “high-grade” zinc-lead discoveries at one of its mining projects.

By contrast, the S&P/ASX All Ordinaries Index (ASX: XAO) is up 0.19%.

Let’s take a closer look at today’s announcement and how it might be affecting the Zenith share price.

What’s up with the Zenith share price?

In conjunction with Rumble Resources Ltd (ASX: RTR), Zenith announced promising zinc-lead results from two drill holes at the Chinook Prospect joint-venture in Western Australia. Zenith has a 25% stake at the site.

The two drill hole results are as follows:

1. a 34m wide ore that is 4.22% zinc and lead from 66m depth, including 17m that is 6.5% zinc and lead.
2. a 21m wide ore that is 4.3% zinc and lead from 61m depth.

From these results, Zenith stated the site has the potential to be at “the upper end of the existing Exploration Target.”

The Rumble Resources and Zenith share price surges look to be a vote of confidence by investors in this latest announcement.

Management commentary

Speaking on today’s news, Zenith Chair Peter Bird said:

These initial results from the Earaheedy JV Property appear to be exceptional, as announced by Joint Venture Partner Rumble Resources it is the intention that Rumble will aggressively progress the exploration activities on the property in an attempt to validate the Exploration Target estimate. Although at an early stage of investigation we are beginning to demonstrate that this project could be of very significant scale.

He added:

We will continue to be very supportive of these activities. Zenith retains a 25% Free Carried Interest in the Joint Venture to the point of Bankable Feasibility completion. In addition, both parties hold a Pre-Emptive Right over the counterparty’s respective equity stakes. Earaheedy is shaping up as a very exciting proposition for both parties.

Zenith share price snapshot

Over the past 12 months, the Zenith share price has increased by 300%. Today’s closing price is the highest the company’s shares have achieved since July 2018.

Zenith has a market capitalisation of $50 million.

More reading

• Why the Rumble Resources (ASX:RTR) share price is rocketing 90% today
• Why the Rumble Resources (ASX:RTR) share price is surging 28% today

Motley Fool contributor Marc Sidarous 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 Bruce Jackson.

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The CSL Ltd (ASX: CSL) share price has continued to trade sideways despite the S&P/ASX 200 Index (ASX: XJO) running around 6% higher year to date. 

The ASX 200 is now within 2% of its pre-COVID high, but the CSL share price needs to add another 25% to be in a similar position. After what seemed like strong half-year results back in February, what’s next for the CSL share price? 

CSL share price impacted by plasma collections

Plasma is an essential raw material for CSL Behring’s immunoglobulins, which generated US$4,256 million of the group’s US$5,739 million revenue in the first half of FY21.

The pandemic has adversely affected plasma collections, with December 2020 collection volumes representing ~80% of December 2019 volumes. Plasma collections are arguably a factor that could sink or swim the CSL share price in the near term. 

The looming shortage has even seen the company turn to the public for ideas on how to get the community to step up plasma donations. CSL is offering $40,000 and mentorship as a reward for the winning idea. 

What does the broker say?

A note from Macquarie on 26 March observed that foot traffic across approximately 100 of CSL’s US-based plasma collection centres had fallen below levels recorded in July-December 2020. 

In this note, the broker acknowledged that seasonality tended to play a role in the weakness experienced across late February and early March. Often associated with the timing of annual tax returns.

Moving through this period, the broker expected collections to improve from mid-March through to June. With these assumptions in mind, it retained a neutral rating for the CSL share price with a $288 target price. 

On Monday, Macquarie provided an update highlighting that collection centre foot traffic had yet to show a sustained improvement. The broker observes that foot traffic within the centres had eased in April after declines from mid-March. 

Without the anticipated improvement in plasma collections, Macquarie now expects lower immunoglobulin related revenue growth in FY22. 

The broker retained its neutral rating and lowered its target price from $288 to $282.50. This represents an upside of 5%, but the pressure is on the CSL to lift its plasma collections. 

More reading

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• ASX 200 rises above 7,000, Resolute Mining soars, Galaxy jumps

Kerry Sun has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of CSL Ltd. 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 Bruce Jackson.

The post Why the CSL (ASX:CSL) share price might be headed for more trouble appeared first on The Motley Fool Australia.

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Keen investors will monitor the share prices for a batch of ASX-listed companies on Monday after a two-way travel bubble between Australia and New Zealand started operating.

The agreement between the two countries took effect late Sunday night AEST. This means travellers from either side no longer have to undergo mandatory COVID-19 quarantine in either country.

Qantas Airways Limited (ASX: QAN) and its budget brand Jetstar on Monday resumed all of its pre-COVID flights to New Zealand, plus a new route between the Gold Coast and Auckland.

“Quarantine-free travel has been almost 400 days in the making,” said Qantas chief executive Alan Joyce at Sydney Airport Holdings Pty Ltd (ASX: SYD).

“Reopening these flights across the Tasman is a very important milestone in the recovery from the pandemic for Australia and New Zealand but also aviation and tourism.”

Joyce added the bubble is also a boon for family and friends reuniting after more than a year apart.

“It means we’ll be able to get more planes back in the sky and more of our people back to work,” he said.

“New Zealand was Australia’s second biggest source of international visitors before the pandemic. Today, it’s about to go straight to number one.”

Oddly, Qantas shares were down 1.54% on Monday afternoon, to trade at $5.10. But that’s still 64% up on its 52-week low of $3.12.

Sydney Airport stocks also dipped, trading at $6.08, which is 0.49% down on Monday.

Meanwhile, Air New Zealand Limited (ASX: AIZ) shares were faring much better, up 1.12% to trade at $1.80 on Monday afternoon. 

Auckland International Airport Limited (ASX: AIA) stocks were also flying high, soaring more than 4% to trade at $7.73.

Air New Zealand stated earlier this month that trans-Tasman travel accounted for about 20% of the company’s pre-pandemic revenue.

The Kiwi carrier resumed flights to 9 Australian destinations on Monday, with capacity at 70% of pre-coronavirus levels.

Joyce said New Zealand flights have been popular since the bubble was announced on 6 April.

“We’ve seen strong demand since the bubble was announced, with tens of thousands of bookings made in the first few days. We’ve also added more flights to Queenstown to meet expected demand during the peak ski season.”

What if there’s a COVID breakout somewhere in Australia or NZ?

With many people still shy about committing to a trans-Tasman trip due to the unpredictability of border closures, tourism companies have sought to provide flexible terms.

Qantas, for example, is offering unlimited zero-fee date changes for bookings made before 31 July for travel on or before 22 February 2022.

Budget brand Jetstar is allowing passengers to purchase an add-on to their tickets that would allow them to cancel for any reason.

Gold frequent flyers and Qantas Club members are also allowed into the First Class lounges in Sydney and Melbourne temporarily.

New Zealand prime minister Jacinda Ardern indicated earlier this month that any border restrictions might come on a state-by-state basis, depending on the severity of the outbreak.

More reading

• Airbnb predicts huge rebound, ASX travel shares in the hot seat
• ASX 200 Weekly Wrap: ASX 200 hits new post-COVID high
• Why brokers are bullish on the Qantas (ASX:QAN) share price
• Can the Flight Centre (ASX:FLT) share price continue to rise?
• Brokers name 3 ASX shares to buy now

Motley Fool contributor Tony Yoo owns shares of Qantas Airways Limited and Sydney Airport Holdings Limited. 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 Bruce Jackson.

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The OptiScan Imaging Limited (ASX: OIL) share price is one of the best performers on the ASX today. This comes after the company announced the strategic appointment of a highly experienced industry executive.

At the time of writing, the imagining medical technology company’s shares are fetching 32 cents apiece, up 26%. It’s worth noting that today’s monumental gain now puts OptiScan shares into an all-time high.

What’s driving the OptiScan share price higher?

Investors appear excited about the company’s latest inclusion, sending OptiScan shares into new territory.

In its announcement, OptiScan advised it has appointed Mr Robert Cooke as non-executive chair to the board.

The company highlighted Mr Cooke’s extensive experience in the health industry, noting over 40 years of service. In this time, Mr Cooke has held important roles in both public and private companies in Australia, Asia, and the United Kingdom. Most notably, Mr Cooke served as managing director and CEO of Healthscope from 2010 until 2017. Healthscope is one of Australia’s leading private hospital, medical centre, and pathology operators.

Currently, Mr Cooke is a non-executive director of Icon Group as well as Evercare Group.

Following the appointment, David Lurie will take over the reins and become managing director of the company.

Management commentary

Mr Cooke commented on the appointment, saying:

I am excited to join the Board of the Company as the Chair and to support the current team at OptiScan in the next stage of its dynamic growth plans.

With its collaborations with world-class research and medical institutions, the Company is well-placed to embark on the global commercialisation of its world- leading technology in Oral cancer screening and surgery as well as pursuing additional clinical applications.

The ability of OptiScan’s unique confocal technology to provide instantaneous, live imaging at a cellular level has the opportunity to revolutionise cancer screening and surgical practices with the resulting benefits for patient care

OptiScan new managing director, David Lurie went on to add:

It is a fantastic opportunity for OptiScan to secure someone of Mr Cooke’s capabilities and track record to lead our board. His knowledge of international corporate activity and multiple aspects of the health care sector including private health, pathology, pharmacy, radiology and IVF will provide enormous benefit to the company.

The OptiScan share price has gained close to 900% over the past 12 months, and is up almost 200% year-to-date.

More reading

• Australia-NZ bubble now open! The 4 ASX shares impacted
• Wesfarmers (ASX:WES) share price climbs 10% in a month amid ‘favourable momentum’
• Why GPT, Mayne Pharma, Talga, & Zip shares are tumbling lower
• Why has the Advanced Human Imaging (ASX:AHI) share price plunged 5%?
• 3 ASX retail shares at record highs

Motley Fool contributor Aaron Teboneras 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 Bruce Jackson.

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The Wesfarmers Ltd (ASX: WES) share price continues to climb today, adding to strong gains this past month.

At the time of writing, the Wesfarmers share price is up 0.5% to $55.94 per share, putting its gains over the past month at just under 10%.

Wesfarmers is a diversified Australian business with broad business operations including home improvement and outdoor living, apparel and general merchandise, office supplies; and an industrials division with businesses in chemicals, energy and fertilisers, and industrial and safety products.

From its origins in 1914 as a Western Australian farmers’ cooperative, Wesfarmers has grown into one of Australia’s largest listed companies trading on the ASX. Headquartered in Perth, Western Australia, Wesfarmers subsidiaries include household names such as Bunnings Warehouse, Kmart Australia, Officeworks and more.

Strong online search interest

The company’s strong performance online is one factor that could have provided the impetus for the Wesfarmers share price’s 10% gains this past month. 

Recent research from Macquarie looked at Google Trends data and found that Wesfarmers-owned Kmart leads in digital interest in home retail. Similarly, Wesfarmers-owned hardware giant Bunnings leads online hardware searches.

Bunnings has become a retail goliath in Australia with little clear competition since the demise of Woolworths (ASX: WOW) -owned Masters.

As the Motley Fool reported earlier this month, Wesfarmers has an enviable position with its brand stable. Bunnings is Australia’s leading hardware retailer, Officeworks is the leading office supplies retailer, Kmart is the leading discount retailer.

Meanwhile, Wesfarmers’ would-be Australian online Amazon-rival, Catch, is expanding as an online retailer. 

However, while online search interest in Bunnings and Kmart has been strong, interest has fallen over recent months in both Catch and Officeworks, which both showed heightened interest in the November to January period.

“Wesfarmers has seen favourable momentum in Bunnings and Kmart for online search activity as value remains a key driver for consumers,” Macquarie said, as quoted by News.com.au.

“As expected, Easter long weekend led to heightened search interest, as people continue home-improvement projects.”

Wesfarmers share price snapshot

Wesfarmers hasn’t released a price-sensitive market update since its 2021 half-year FY21 report on 18 February, where it announced a 16% increase in total revenue.

The Wesfarmers share price has continued to rise steadily though, adding 3% the past week and 10% the past month, creating a 46% gain over the past 12 months.

More reading

• Top broker picks ASX shares next in line for a profit upgrade
• ASX 200 Weekly Wrap: ASX 200 hits new post-COVID high
• Westpac (ASX:WBC) and these ASX shares have just hit 52-week highs
• Is the Klarna / Flybuys partnership the future for ASX BNPL providers?
• 2 high quality ASX dividend shares for income investors

Motley Fool contributor Lucas Radbourne-Pugh has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of Wesfarmers Limited and Woolworths Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The S&P/ASX 200 Index (ASX: XJO) has started the week in a mildly positive fashion. In afternoon trade, the benchmark index is up 0.2% to 7,076.3 points.

Four ASX shares that have failed to follow the market higher today are listed below. Here’s why they are tumbling lower:

GPT Group (ASX: GPT)

The GPT share price is down 3% to $4.67. Investors have been selling the property investment company’s shares after it released its guidance for the full year. According to the release, GPT advised that it expects to deliver year on year funds from operations (FFO) growth of 8% and distribution per security growth of 12% in FY 2021. While this is positive, it appears as though the market was expecting more.

Mayne Pharma Group Ltd (ASX: MYX)

The Mayne Pharma share price has fallen 6.5% to 47.7 cents. This appears to have been driven by a broker note out of Macquarie this morning. According to the note, the broker has downgraded the pharmaceutical company’s shares to an underperform rating with an improved price target on 38 cents. While it notes that the FDA has just approved its Nextstellis contraceptive product, it isn’t enough to become more positive. Macquarie expects business conditions to remain subdued in the short term.

Talga Group Ltd (ASX: TLG)

The Talga share price has tumbled 5% lower to $1.37. This is despite the company providing an update on its electric vehicle anode (EVA) qualification plant. According to the release, designs for the plant have been finalised and engineering work is progressing well. It has now placed orders for the materials and equipment needed to build the plant. Talga hopes to commence its EVA plant’s installation in the fourth quarter of 2021.

Zip Co Ltd (ASX: Z1P)

The Zip share price has dropped 4% to $9.00. This decline appears to have been driven by profit taking following a very strong gain last week. In fact, the Zip share price was the best performer on the ASX 200 last week with a gain of 13%. One broker that believes it can still go higher is Citi. Last week it upgraded its shares to a buy rating with an $11.30 price target.

More reading

• Why the GPT (ASX:GPT) share price is sliding today
• Top broker picks ASX shares next in line for a profit upgrade
• Why is the Talga (ASX:TLG) share price dipping today?
• These 3 ASX shares have just hit 52-week highs or better
• Commonwealth Bank (ASX:CBA) CEO hits out at Afterpay and BNPL providers

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of ZIPCOLTD FPO. 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 Bruce Jackson.

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The Advanced Human Imaging Ltd (ASX: AHI) share price is sinking on its first day of trading in nearly 3 weeks. The image capture and dimensioning technology provider, formerly known as MyFiziq, ended its prolonged trading halt this morning with 2 pieces of seemingly positive news.

Despite the good news, the Advanced Human Imaging share price has plunged 5.3% and is swapping hands for $1.94 at the time of writing. An improvement, at least, on the intraday low of $1.85 that it plummeted to in opening trade.

Let’s take a closer look at the 2 announcements the company shared this morning.

Agreements with Triage

Today, Advanced Human Imaging shared news of a binding technology license and a subscription agreement with Canada-based Triage Technologies Inc.

Through the agreements, Advanced Human Imaging will use Triage’s dermatological AI system in its CompleteScan product. In return, the Advanced Human Imaging team will improve Triage’s AI engine to provide an on-device application for consumers.

According to Triage, its AI program can identify 588 skin conditions, including all skin cancers. The company claims it is more effective in correctly identifying skin conditions than dermatologists.

Triage received a USA patent for its system in 2020 and expects further jurisdictions to follow.

Advanced Human Imaging’s CompleteScan is a mobile-based app that analyses photos of a users’ skin, face and body to provide a total health assessment.

As part of the agreement, Advanced Human Imaging will pay Triage US$3 million, US$600,000 of which is already paid. Advanced Human Imaging stated that some of these payments are ‘at call’ and are not binding commitments.

The payments will be spread out over 14 months as, while the company has the funds needed for the initial payments, the remaining payments will be made up of its cash flow or additional capital.

Advanced Human Imaging is also taking a strategic equity stake in Triage.

Letter of intent to acquire Physimax

The second piece of news out of Advanced Human Imaging today is its letter of intent to acquire Israel-based Physimax Technologies Limited.

Advanced Human Imaging has offered to purchase Physimax for US$6 million worth of its own shares. It has also agreed to issue a further US$2 million worth of shares through an earn-out agreement, the terms of which are yet to be released.

Physimax is a musculoskeletal assessment company. It has developed and patented software that tracks and improves musculoskeletal wellness and performance, using videos captured on mobile phones.

The technology does not need wearables. Instead, it measures and scores mobility, stability, strength, and movement control using movement patterns and analysis.

Its assessment is then paired with an AI-delivered, personalised workout program.

Physimax’s software is used by healthcare providers, the NFL, NBA, pro-soccer teams and US military units.

Commentary from management

Advanced Human Imaging chair and CEO Vlado Bosanac commented on the agreement with Triage, saying:

By bringing in platforms like personal health/wellness and medical checking application, the addition of Triage not only broadens user/market interest in AHI capability, but also generates better service by combining all these functionalities directly on the smartphone/mobile device.

Mr Bosanac added that Physimax would be a welcome addition to the AHI MultiScan platform.

The Physimax team has spent 7 years developing, validating and commercialising the technology and has seen broad acceptance of the application worldwide with over 250,000 scans performed to date…

We will continue to identify opportunities of this kind that are complementary to the AHI offering, with a view to either a partnership or when advantageous, acquisition.

Advanced Human Imaging share price snapshot

The Advanced Human Imaging share price has bloomed on the ASX recently.

While it got off to a slow start this year, it’s currently up by 52% year to date. It’s also up a whopping 1,118% over the last 12 months.

The company has a market capitalisation of around $276 million, with approximately 134 million shares outstanding.

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Motley Fool contributor Brooke Cooper 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 Bruce Jackson.

The post Why has the Advanced Human Imaging (ASX:AHI) share price plunged 5%? appeared first on The Motley Fool Australia.

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