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The Healthia Ltd (ASX: HLA) share price will be on watch tomorrow after the healthcare business announced strong growth in its FY21 half-year result.

What did Healthia announce?

Healthia revealed that its customer revenue increased by 38.9% to $61.5 million. This revenue growth was supported by organic revenue growth of 14.5%.

Underlying earnings before interest, tax, depreciation and amortisation (EBITDA) grew 90.7% to $11 million. The underlying EBITDA margin increased by 486 basis points to 17.87%.

Underlying net profit after tax plus amortisation of customer list intangibles (NPATA) jumped 85.5% to $4.7 million. The underlying NPATA margin increased 194 basis points to 7.72%.

The underlying earnings per share (EPS) grew 78.2% to 6.86 cents. The Healthia board of directors decided to declare an interim fully franked dividend of 2 cents per share.

Management said that this result is testament to the ongoing dedication and resilience of its clinicians and support staff. Healthia said the result was also reflective of the essential nature of the allied health services that its businesses and people provide to their local communities.

The company said that as it integrates its new ‘eyes and ears’ division, settled in November 2020, into its allied health network it will attempt to generate growth from cross-referrals between Healthia’s three disciplines to promote better patient outcomes.

Recent Healthia share price movements

The Healthia share price has gone up by 33% over the last 12 months, despite the COVID-19  pandemic. Since the end of October 2020, Healthia shares have actually risen by 60%.

Outlook

Healthia said it will continue to focus on four areas: patient focused outcomes, organic growth, future accretive acquisitions and vertically integrated business units.

It has a few different strategies to generate ongoing organic growth. It said it will continue to invest in industry-leading education, tools and support for clinicians, as well as developing industry-leading career opportunities for all team members. This is expected to continue to drive strong organic growth into the future.

Other organic growth strategies could be to further enhance its centralised support functions to clinical teams, finding additional opportunities to co-locate services, introducing services into existing locations and working on new ways to engage its teams.

Healthia said that the acquisition of The Optical Company and the addition of optometry increases its total addressable revenue market from $6.5 billion to $9.8 billion. That breaks down to $2.7 billion in feet and ankles, $3.8 billion in bodies and minds and $3.3 billion in eyes and ears, with the parent company haing a market share of less than 1.5%.

The company said that with its low market share, and the fragmented nature of the target allied health industries it operates, acquisitions will continue to be a central pillar of the growth strategy.

Healthia expects to deploy a minimum of $20 million per annum into new allied health acquisitions. These are expected to be funded from a combination of bank debt, free cash flow and clinic class shares.

More reading

• 2 growing small cap ASX shares to buy
• Here’s why the Healthia (ASX:HLA) share price is racing higher

Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia has recommended HEALTHIA 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 Marley Spoon AG (ASX: MMM) share price will be one to watch on Friday.

This follows the release of the subscription-based meal kit provider’s full year results after the market close.

How did Marley Spoon perform in FY 2020?

For the 12 months ended 31 December, Marley Spoon reported a 96% increase in revenue to 254 million euros.

While this was driven by strong revenue growth across all geographies, the star of the show was its US business. It reported a 126% increase in revenue to 127 million euros thanks to growth across all brands.

Positively, despite operational headwinds related to the COVID-19 pandemic, the US business was able to increase its contribution margin by 6 percentage points. This led to the business turning profitable on an operating EBITDA basis.

Supporting its growth was its Australia business, which delivered a 76% increase in revenue to 86 million euros, and its Europe business, which grew revenue by 66% to 41 million euros.

This ultimately led to the company reporting a contribution margin of 26% and an operating loss of 0.5 million euros for FY 2020. The latter was a big improvement on its 29.8 million operating loss a year earlier. Furthermore, the company achieved an operating profit of 1.5 million euros for the second half, which bodes well for FY 2021.

At the end of the period, Marley Spoon had 227,431 subscribers. This was up 83% on FY 2019’s subscriber numbers.

Management commentary

Marley Spoon’s CEO, Fabian Siegel, commented: “2020 was a significant year for Marley Spoon. We doubled revenue in a challenging operational environment and invested in the foundations for future growth.”

“We continue to see opportunities to invest in new customer growth at attractive unit economics. These marketing investments, combined with our investments in expanding manufacturing capacity, developing our digital technology platform, and further strengthening our leadership team, position us well for the coming years. We are encouraged by the continued adoption of online grocery shopping by consumers, a trend we are well-poised to capitalise on given the strength of our direct-to-consumer engagement capabilities.”

Outlook

Due to the continued strong global growth in online meal kit adoption and retention of customers acquired in FY 2020, Marley Spoon expects to grow revenue between 25% to 30% in FY 2021.

It is also expecting its contribution margin to improve to between 30% to 31%.

Mr Siegel noted: “We have started FY2021 strong in all markets, with the US continuing to be our biggest growth engine. We demonstrated improved unit economics in FY2020 which reflects the accelerated shift to online shopping as a result of the pandemic. This trend is continuing, and we see opportunities to continue to attract new customers at a faster pace.”

More reading

• Why the Marley Spoon (ASX:MMM) share price is one to watch today

Motley Fool contributor James Mickleboro 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 Droneshield Ltd (ASX: DRO) share price will be on watch tomorrow after the counter-drone equipment maker released its full-year results for FY20 after the market closed.

At the close, Droneshield was flat for the day at 17 cents per share. But it will certainly be interesting to see how the market reacts to the results on Friday morning.

Results indicate growth

Droneshield notched up another record year for revenue in FY20. Customer receipts and research and development (R&D) amounted to a total of $5.4 million in revenue. This equates to a 58% rise in overall revenue compared to FY19.

The company was quick to note that its customers continue to grow in depth and quality. Notably, customers now include the US Air Force, the Australian Department of Defence, and the New Zealand Defence Force.

Droneshield chair Peter James also remarked in the 2020 annual report that a large portion of the revenue was derived from high-quality ‘blue-chip’ customers. This includes contracts with government agencies of the Five Eyes community.

The counter-drone company also advised that its high-conviction sales pipeline remained strong at $100 million in active contract discussions. While the total sales opportunities have grown to $200 million.

Additionally, Droneshield reported a strong cash position after the company raised $17 million in late 2020. Borrowings also remain at a low amount, with $107,000 at the end of December.

Lastly, Droneshield’s net loss after tax reduced to $5.87 million, down from $7.70 million in 2019.

Future outlook hazy

With $35 million in R&D since the company’s inception, Droneshield continues to invest in broadening its product and solutions offering. More recently, it has produced software that communicated with Droneshield’s other products. The software provides alerts and visual monitoring to customers.

Droneshield is attempting to expand its software-as-a-service (SaaS) offering through products such as these, which would provide more reliable and steady revenue.

Other than the $100 million high conviction pipeline, there wasn’t much more information provided on Droneshield’s near-future outlook. This is likely due to the lumpy nature of the company’s product sales.

Droneshield share price snapshot

The Droneshield share price has returned a total of 0% over the past 12 months. That’s right – if you invested a year ago, you are right where you started.

Keep in mind that the company has also carried out capital raises which dilutes the share price. Therefore, even though the share price is the same, the company’s total market value has increased.

Based on today’s Droneshield share price, the company’s market capitalisation is now $66.3 million.

More reading

• Why the DroneShield (ASX:DRO) share price is lifting 6%
• Why the DroneShield (ASX:DRO) share price is climbing higher

Motley Fool contributor Mitchell Lawler 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 Liberty Financial Group Pty Ltd (ASX: LFG) share price finished off 1.23% up at $8.20 a share today after the non-bank lender released its half-year results.

Liberty Group is a diversified finance company that held its initial public offering (IPO) debut on the ASX in December 2020. Its businesses include residential and commercial mortgages, motor vehicle finance, personal loans, business loans, broking services, general insurance and investments.

Here’s what we learned from the company’s financial results for the period ended 31 December 2020 (HY21).

Liberty Financial share price pops after strong results

Liberty Financial reported an HY21 statutory net profit after tax (NPAT) of $83 million compared to its HY20 NPAT of $74 million.

As at 31 December 2020, the group had financial assets under management totalling $12.0 billion. This is slightly higher than the $11.7 billion reported for 30 June 2020.

Liberty Financial held $672.4 million in cash at the end of the period, which compares to $484.9 million at the end of HY20.

Executive commentary 

Liberty Financial reported a reduction in customers impacted by the coronavirus pandemic to 2% of the portfolio as at 31 December 2020. This compares to 10% at 30 June 2020. 

Commenting on the current business environment, chief executive officer James Boyle said:

Liberty’s customers have shown tremendous resilience during the pandemic. Notwithstanding the improved financial position of our customers, economic and social uncertainty continues which means we remain cautious about our FY21 results.

Liberty’s chief financial officer Peter Riedel added:

LFG’s capital and liquidity position remains in a strong position to support our existing customers and continuing to grow with only a modest increase in overall leverage ratio to 13.4x. Standard and Poor’s also affirmed Liberty’s investment grade corporate rating as BBB- (stable) and LFG issued three securitisations 2020 totalling $2.3b in the second half of 2020.

Since its IPO in December, the Liberty Group share price is up 17% and is trading 8.6% higher year to date.

More reading

• Why the BikeExchange (ASX:BEX) share price is up 7%
• Real Energy (ASX:RLE) share price rockets 27% on hydrogen merger
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• Tinybeans (ASX:TNY) share price will be on watch tomorrow, here’s why!
• Why the Cash Converters (ASX:CCV) share price slid lower today

Motley Fool contributor Gretchen Kennedy 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 Bikeexchange Ltd Fully Paid Ord. Shrs (ASX: BEX) share price stormed higher in late trade today as the company released its half-yearly report.

The BikeExchange share price closed 6.67% higher today at 24 cents.

What did BikeExchange report?

BikeExchange, which only listed on the ASX earlier this month, reported revenue of $2.005 million for H1 Fy21.

The company reported a loss of $79,100 for the half-year ending 31 December 2020, a drop from the $165,522 profit achieved for the same period in 2019. The company attributed the loss largely to initial public offering (IPO) costs.

BikeExchange advised that operations progressed well during the period as the company raised $20 million in new capital.

Furthermore, trading in the second half of FY21 has started well with January e-commerce transactions showing strong growth on the prior corresponding period (pcp). Overall the group expects the second half of FY21 to demonstrate meaningful total transaction value and revenue growth on that recorded by the BikeExchange Group for the first half of FY21.

The subscription revenue run rate was positive entering the third quarter with increases across retailer sign-ups providing an increasing contribution. In the coming half, the group expects to interact closely with its retail and brand customer base. This will assist and enable them further with consumer engagement and organic growth.

Outlook

Looking ahead, BikeExchange expects continued strong growth in e-commerce. The company is also looking to improve its conversion and commission rates with a boost from increased marketing.

Also aiding to growth, revitalised media partnerships are expected to contribute uplift to media revenues from the 4th quarter of FY21. BikeExchange also noted that there will be new products launching in the next financial year.

About the BikeExchange share price

BikeExchange is an online global marketplace exclusively dealing with bikes and all things related. Operating in 8 countries, the marketplace aims to provide an efficient, technology-driven platform to connect consumers with retailers of bicycle products and accessories.

Since listing on 9 February this year, the BikeExchange share price has lost 7.69%, falling from 26 to 24 cents.

More reading

• Bikeexchange (ASX:BEX) CEO Mark Watkin on the risks and opportunities ahead
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Motley Fool contributor Daniel Ewing 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 Real Energy Corporation Ltd (ASX: RLE) share price is storming higher today as the company announced an update regarding its future. Shares in the company were trading 26.51% higher at close today. Taking the Real Energy share price to 11 cents.

Pure Hydrogen transition

Real Energy today announced it would be undertaking a merger with Strata-X Energy CDI (ASX: SXA). The anticipated completion date of the merger is March 9, with the new ticker code expected to be ‘PH2’.

The directors of both companies decided to change the name to Pure Hydrogen to better reflect its goal of becoming a large hydrogen business. Notably, the company has already progressed on several fronts in developing its hydrogen division. Nonetheless, natural gas remains a significant focus for Pure Hydrogen and the company plans to continue to pursue its development and production. The company is also investigating natural gas to hydrogen as one of its potential hydrogen manufacturing initiatives.

Projects underway

Pure Hydrogen, through its subsidiaries, is now progressing five hydrogen projects. Located across Queensland, Victoria, and NSW. All hubs are being identified as prime locations for Pure Hydrogen’s expansion into cutting-edge hydrogen manufacturing and fuel-cell technology.

Moreover, the new company is also advancing potential ‘turn key’ technology and engaging distribution logistics experts. Further updates in this regard will be provided by the company as soon as these agreements are finalised.

As well as hydrogen the the new company will continue to aim to add value through natural gas. As such, on this front it maintains three projects. Two located in Queensland with one being housed overseas in Botswana. However it must be noted that the Pure Hydrogen’s Botswana project is currently being farmed out in exchange for funding. When the project is completed it will retain a 51% working interest in the project. During 2021, 3 to 6 test wells are planned within Pure Hydrogen’s high grade coal seam gas areas.

More reading

• Why the BikeExchange (ASX:BEX) share price is up 7%
• Why the MotorCycle Holdings (ASX:MTO) share price is racing higher
• Tinybeans (ASX:TNY) share price will be on watch tomorrow, here’s why!
• Why the Cash Converters (ASX:CCV) share price slid lower today
• Clean TeQ (ASX:CLQ) share price nosedives 8% on $10 million loss

Motley Fool contributor Daniel Ewing 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 MotorCycle Holdings Ltd (ASX: MTO) share price went up more than 6% after the company released its FY21 half-year result.

This business was founded in 1989. It is a motorcycle dealership and accessories group with 48 franchises operated from 31 dealership and eight retail accessory locations in Queensland, New South Wales, Victoria and the ACT.

MotorCycle Holdings FY21 half-year result

The company revealed that it sold 11,467 motorcycle units, which is 12% more than it did in the prior corresponding period, with new motorcycle unit sales increasing by 30% to 6,770.

MotorCycle Holdings said that motorcycle sales grew as an outcome of introducing new products into existing stores and the dealership network expansion. The overall national market of new motorcycle sales increased by approximately 20%. The company grew its market share, securing approximately 12.1% of national new bike sales during the financial year, compared with 11.1% in the prior year.

Used motorcycle sales decreased 6% to 4,697 units due to tightening stock availability. However, the sales value increased 5% and improved margins generated a gross profit increase of 30% compared to the prior corresponding period.

Online accessory sales grew by 75% with major projects underway to improve e-commerce systems to generate further growth.

Retail accessories and parts revenue grew by 19% and servicing and repair revenue went up by 33%. Retail finance, insurance and mechanical protection plan income increased 6%.

Wholesale accessory sales rose by 23% with divisional gross profit rising 30% and demand is expected to remain high in the second half. Stock supply has been subdued but is gradually improving and margins are expected to increase as benefits of a lower US dollar are realised.

The increase in unit sales led to revenue rising 23% to $218.4 million. Underlying earnings before interest, tax, depreciation and amortisation (EBITDA) jumped 168% to $26.8 million. The underlying EBITDA margin more than doubled, rising from 5.6% last year to 12.3% in this half-year.

MotorCycle Holdings grew net profit after tax (NPAT) by 256% to $17.2 million.  

Did MotorCycle Holdings pay a dividend?

The company announced that it would pay an interim dividend of 10 cents per share.

The $47.6 million bank debt at 30 June 2020 has been reduced to $0. It has $7.4 million of cash on hand.

How much has the MotorCycle Holdings share price recovered from COVID-19?

Over the last 12 month the MotorCycle Holdings share price has risen by 54%, which includes the COVID-19 crash. However, since the start of 2021 the MotorCycle Holdings share price has dropped a little.

CEO commentary on the outlook

MotorCycle Holdings CEO David Ahmet said that the half-year results reflected the continuing increased market demand for recreation and leisure products, new franchises and expanded product ranges, lower overheads and a disciplined approach to ongoing expenses resulting in margin growth. Mr Ahmet said:

Our growth strategy of expanding the business by adding new ranges and products to existing sites without increasing our cost base is delivering sustainable growth and profit.

The Harley-Davidson dealerships are performing above expectations and the Indian Motorcycles and Polaris products added to existing stores contributed strongly to the results.

The CEO also said that after paying down debt, it’s now in the position to make acquisitions if the opportunity is there.

It’s expecting increased market demand and strong trading conditions to continue for the rest of the financial year.

More reading

• Tinybeans (ASX:TNY) share price will be on watch tomorrow, here’s why!
• Why the Cash Converters (ASX:CCV) share price slid lower today
• Clean TeQ (ASX:CLQ) share price nosedives 8% on $10 million loss
• 2 fast-growing small cap ASX shares to watch
• Why the Doctor Care Anywhere (ASX:DOC) share price is up 62% since December

Motley Fool contributor Tristan Harrison 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 Tinybeans Group Ltd (ASX: TNY) share price will be in focus in early trade tomorrow, after the social platform for parents and their children reported its half-year accounts.

Tinybeans sneakily released its announcement 10 minutes before market close, at which point the share price had already taken a 6.5% dive.

So, what are the numbers?

The numbers shouldn’t be too much of a surprise to the market, as it is essentially the accumulation of September’s quarterly report and January’s report. However, half-year reports can sometimes include amendments and adjustments that were not originally captured.

First of all, Tinybeans’ revenue for the first half came in at a total of $5.633 million. This represents an increase of 141% compared to the previous corresponding period (pcp).

The company also highlighted the following significant items in the half:

• Advertising revenue reaching over $4.72 million, an increase of 185% pcp
• Subscription revenues increased to $507,000, an increase of 18% pcp
• Monthly active users (MAU) reached over 4.8 million, an increase of 253%
• Cash balance of $4.46 million as at the end of December.

Tinybeans’ advertising revenue benefitted from both the renewal of existing advertisers and the addition of new ones. The Australian company now boasts an impressive list of advertisers including Apple, Netflix, Amazon, Google, and Walmart.

Given that the premium service of the Tinybeans app has an annual option, the retention rate is important. Based on the report, premium subscriptions maintained a retention rate of 92%.

On the bottom line, Tinybeans reduced the net loss to $1.073 million, down from a loss of $1.873 million. The company finished the half with a cash balance of $4.464 million, declining from $5.220 million at the end of June 2020.

Growth in the sights of management

CEO, Edward Geller, outlined that the company is still in its very early stages of what it aspires to be. Currently, Tinybeans is fundamentally a photo-sharing app for parents with children/babies. However, Mr. Geller sees the company evolving into a platform that parents use daily.

Mr. Geller further commented on the growth trajectory of Tinybeans:

As announced to the market at the Innovation event, the product roadmap is ambitious, so the right balance of capital investment is needed to ensure its success. Since July 2020, the Company has ramped its capital investment to nearly $1 million per quarter to begin executing on this vision but it is important to note that this is being done prudently with the right balance of revenue growth and cash management.

Tinybeans share price snapshot

The Tinybeans share price appears to have benefitted from a continued emphasis on privacy. The company’s share price has risen 23% in the past 12 months. Surprisingly, the small-cap share has not experienced excessive volatility in the past 3 months. 

The company currently has a market capitalisation of $79 million.

More reading

• Tinybeans (ASX:TNY) share price shoots 18% higher. Here’s why

Mitchell Lawler has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Tinybeans Group Ltd. The Motley Fool Australia has recommended Tinybeans Group Ltd. 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 Cash Converters International Ltd (ASX: CCV) share price ended the day down 1.8% at 28 cents.

We take a look at Cash Converters’ financial results for the half-year ending 31 December (H1 FY21) below. In particular, what these figures mean for the Cash Converter share price. 

What results did Cash Converters report for H1 FY21?

Today, Cash Converters reported a 31% decline in revenue, to $98.4 million from $142.7 million in H1 FY20.

Statutory net profit after taxes (NPAT) came in at $7.7 million. Which was up from a $19.4 million statutory NPAT loss in the prior corresponding period (pcp).

Operating NPAT declined 28% year-on-year. Cash Converters said its operating results “are presented net of the significant expense items directly associated with the settlement of class action litigation claims in the previous corresponding period”.

For the same reason, statutory earnings before interest, taxes, depreciation and amortisation (EBITDA) was $24.6 million. This was up compared to a negative $12.6 million in H1 FY20. Additionally, operating EBITDA declined 19% year-on-year from $30.4 million.

Moreover, the company’s online presence looks to have benefited from a wider shift in consumer online spending growth. Cash Converters reported a 39% boost in online retail sales, up 39%.

Gross bad debt expenses were cut by 56% and operating cash flow was up at $8.6 million from negative $15.5 million in the corresponding half year.

Cash Converters reported $91.3 million in cash and equivalents as at 31 December, up from $59.4 million.

Management Commentary

Commenting on the results, Cash Converters’ managing director, Sam Budiselik said:

The performance of our underlying business has been extremely impressive considering the substantial impact of COVID-19 throughout the first half of FY 2021. The ongoing Government stimulus had resulted in our inventory levels depleting throughout our store network, our Loan Books contracting and franchise fee revenue reducing as various state-wide (and international) lockdowns occurred throughout the period.

Despite these headwinds the resilience of our business model continued to demonstrate the appeal of our store service experience and the reach of our online and digital assets.

Cash Converters noted it was not eligible for and made no direct claims under the government’s  JobKeeper allowances.

Cash Converters share price snapshot

Despite tumbling 50% during the viral market rout last February and March, Cash Converters’ shares are up 38% over the past 12 months. By comparison, the All Ordinaries Index (ASX: XAO) is up just under 5%.

Year-to-date the Cash Converters share price is up 19.5%.

More reading

• Clean TeQ (ASX:CLQ) share price nosedives 8% on $10 million loss
• 2 fast-growing small cap ASX shares to watch
• Why the Doctor Care Anywhere (ASX:DOC) share price is up 62% since December
• Why the Nufarm (ASX:NUF) share price finished 7% higher today
• Slater & Gordon (ASX:SGH) share price lifts 5% on earnings report

Motley Fool contributor Bernd Struben 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 Clean TeQ Holdings Limited (ASX: CLQ) share price dropped today off the back of the company’s half year (1H21) results for the period ended 31 December 2020.

The Clean TeQ share price finished today’s trading session 8.20% lower at 28 cents a share.

Here’s what we learned from the company’s 1H21 results.

Clean TeQ posts multi-million dollar loss

Clean TeQ reported a loss of $10.1 million for 1H21. This compares to the $10.3 million loss of 1HY20.

Revenue from continuing operations increased to $1.6 million versus the 31 December 2019 revenue of $666,000.

The 1HY21 loss per share was $1.33, a slight improvement compared to the 1HY20 loss per share of $1.35.

Net assets jumped during the period from $42 million as of 30 June 2020 to $48.7 million as of 31 December 2020.

Clean TeQ’s total equity at the end of 1HY21 was $48.7 million compared to $42.1 million in 1HY20.

Clean TeQ principal 1HY21 activities

For the 1HY21 period, Clean TeQ advised that its principal consulting activities focused on two major areas.

First, the company noted its ongoing development of Clean-iX. Clean-iX resin technology can be used to extract and purify a range of mining industry resources including base metals, precious metals and rare earth elements. Clean TeQ is also developing its Sunrise Project and other mineral exploration properties in New South Wales as part of this feat.

Secondly, Clean TeQ advised that it continues to develop and commercialise its Continuous Ionic Filtration (‘CIF’) resin technologies. The CIF technology supports the purification and recycling of industrial, municipal and mining waste waters.

Clean TeQ share price snapshot

Clean TeQ specialises in metals recovery and industrial water treatment. The business endeavours to become a leading supplier of clean energy solutions.

Over the past 6-month period, the Clean TeQ share price has gained 100%. 

The company’s current market capitalisation is $283.5 million and there are presently 885.9 million shares outstanding based on the current share price.

More reading

• Why the Cash Converters (ASX:CCV) share price slid lower today
• 2 fast-growing small cap ASX shares to watch
• Why the Doctor Care Anywhere (ASX:DOC) share price is up 62% since December
• Why the Nufarm (ASX:NUF) share price finished 7% higher today
• Slater & Gordon (ASX:SGH) share price lifts 5% on earnings report

Motley Fool contributor Gretchen Kennedy 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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