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The KGL Resources Ltd (ASX: KGL) share price has rocketed up today, on news the copper producer has received government approval for its 100% owned Jervois Copper Project.

At the time of writing, the KGL share price is trading up 11.32% at 29.5 cents.

What’s moving the KGL share price today

The company advised the project has gained Northern Territory Government approval after recent pre-feasibility studies (PFS) showed that the Jervois deposit would have a mine life of 7.5 years.

With the PFS completed and government approval obtained, KGL says it will now go ahead with executing its plans for the mine. The next phase will include project funding and marketing of the mine’s concentrate.

KGL Chair Denis Wood said that the government’s response represented a landmark approval for the company, and has put it in a good position:

Our current project planning takes into account the conditions attached to the government response, so this landmark approval provides an essential clearance for Jervois.

Jervois is exceptionally well placed to enter the world copper market as a supplier.

Demand is expected to increase strongly for copper in both emerging green energy and electric vehicles uses as well as traditional construction, electricity transmission, communication and consumer goods applications.

About the KGL share price

The KGL share price has delivered a return of around 20% for shareholders over a one-year period.

In September last year, the company upgraded its copper estimate for the Jervois project, saying that the copper grade from the mine had doubled from 1.07% to 2.03%. 

In that announcement, the company also reported that contained copper in the mine had increased 30% to 426,200 tonnes.

The announcement sent the share price surging by more than 30% on the day.

At the current market price, KGL commands a market value of $90 million.

More reading

• Can the IAG (ASX: IAG) share price withstand a billion dollar hit?
• 3 things to expect from Novavax in 2021
• Why the Tyro Payments (ASX:TYR) share price is on the move today
• Why the Bod (ASX:BDA) share price is soaring 11%
• 2 ASX shares that ran over 1,500% in 2020

Motley Fool contributor Eddy Sunarto 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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It hasn’t been a great twelve months for the Insurance Australia Group Ltd (ASX: IAG) share price. Since January 2020, IAG has taken a roughly 36% dive from around $7.50 a share to where it opened today at $4.78.

Yesterday, we talked about how the IAG share price was creeping up. At the same time, the Australian Financial Review (AFR) reported that “Insurance Australia Group will take a $1.15 billion hit to earnings in its half-year results in February.”

So what’s been going on with IAG, and what are analysts saying about the IAG share price in advance of the February earnings season?

COVID-19 keeps coming back

Since its earliest impacts on the economy, COVID-19 has been causing fights between small business owners, insurance companies and regulators. 

As a result of this, many small business owners are unhappy. They believe that insurance companies are failing to provide the financial support that their insurance policy entitles. This has resulted in the Australian Securities & Investment Commission (ASIC) stepping in to try and pacify what continues to be a hostile situation.

According to the AFR article, IAG has been insisting that the company’s business interruption policies don’t cover pandemic-related losses. The NSW Court of Appeal disagreed back in November. Regardless, IAG is still refusing to pay business interruption claims related to the coronavirus. The matter remains in the courts. 

Bushfires, hail storms and other catastrophes

Besides managing the ongoing coronavirus dramas, IAG is still trying to recuperate after the devastating bushfires and hail storms from last summer, along with whatever other claims are coming in daily.

By finalising its catastrophe reinsurance program, IAG was able to provide some relief to nervous investors concerned about the brunt of so many claims coming in, and we saw the IAG share price climb yesterday.

Will the IAG share price continue to suffer?

With the company’s half-year results on the horizon, analysts seem to have mixed emotions about what’s in store for the IAG share price. 

Morgan Stanley and Macquarie have listed the stock to ‘outperform’. Citi’s opinion of the IAG share price isn’t quite as optimistic. Citi recently downgraded the stock from ‘buy’ to ‘neutral’. 

When IAG reports its half-year performance, we’ll see what a $1.15 billion earnings hit really looks like. With a market cap of over $11 billion, there will undoubtedly be a lot of investors keen to hear what the company has to say.

More reading

• Here are 3 ASX shares trading near their 52-week lows
• IAG (ASX:IAG) share price climbs following these announcements
• 2020 ASX recap of the year we’ll never forget
• Why the Afterpay (ASX:APT) share price is not the only rising star this year
• ASX 200 up 0.55%: Altium update, Afterpay jumps, NAB given ACCC approval

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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This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

Novavax Inc (NASDAQ: NVAX) shares gained more than 2,600% last year as the clinical-stage biotech became one of the front-runners in the race to develop a coronavirus vaccine — and was awarded $1.6 billion from the United States Government to support its efforts.

That was a genuinely amazing performance, and as 2021 begins, Novavax still has a lot on its agenda. Here are three things investors should be looking for from the company this year.

1. A possible coronavirus vaccine — and revenue

Novavax has a late-stage clinical trial for its coronavirus vaccine candidate, NVX-CoV2373, well underway in the United Kingdom, and could be ready to report interim data from it early in the current quarter. If that data is positive, the company will use it to support its submissions to various major healthcare regulators.

Regulatory agencies granted emergency use authorizations for the COVID-19 vaccines of Pfizer Inc (NYSE: PFE) and Moderna Inc (NASDAQ: MRNA) within weeks of their phase 3 interim reports. If Novavax’s fortunes are similar, the company could begin generating vaccine revenue in the first half of 2021. NVX-CoV2373 would be its first marketed product — a huge step for the company.

2. A NanoFlu regulatory submission

Last spring, Novavax reported that its flu vaccine candidate met all primary endpoints in a pivotal trial. Later in the year, the company assembled a team of experts to shepherd NanoFlu through the regulatory approval process.

Novavax hasn’t said when it will submit its application for NanoFlu to the Food and Drug Administration. But it did say it would apply to have that vaccine reviewed under the FDA’s accelerated approval pathway. It’s possible a submission could happen at some point this year.

3. Progress on a combined coronavirus/flu vaccine

In October, Novavax said it would begin exploring the possibility of producing a single shot that combines both its coronavirus and flu vaccines. The company said any such dual-purpose product would be for post-pandemic use. Novavax didn’t provide other timeline details. But we could imagine that it may report preclinical data or other early details on this project this year.

Positive results on any of the fronts listed above could provide a catalyst for Novavax’s shares. So even though its 2020 stock price gain was massive, there’s room for additional good news to drive this biotech company even higher.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

More reading

• 3 coronavirus stocks poised to soar in 2021

Adria Cimino 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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This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

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The Tyro Payments Ltd (ASX: TYR) share price jumped 3.4% higher in early trade but has since lost most of its early gains and is currently sitting 0.93% up at $3.26 per share.

What’s moving the Tyro Payments share price today?

The Aussie payments company provided an update on an outage affecting a number of its EFTPOS terminals.

Tyro said it is experiencing a “connectivity issue” related to a “limited number” of terminals. The issue has been presented since 7pm on Tuesday as Tyro works with its supplier, Worldline, to find a resolution.

Tyro is looking to mitigate the impact on its merchants arising from the outage affecting ~15% of active terminals. Tyro said the issue has caused a ~5% reduction in expected transaction value since Tuesday.

The total impact will only be able to be quantified by the company once the issue is resolved.

The Tyro Payments share price has retraced its gains following this morning’s surge and is trending lower this afternoon.

Shares in the Aussie payments group are down 1.8% in the last 12 months. Tyro recently accepted a 2-year court-enforceable undertaking to remedy breaches of the Spam Act 2003.

The Aussie fintech was found to have illegally sent more than 150,000 spam email and text messages in the last two years. The messages in questions failed to include an unsubscribe function as required under the Act.

The Tyro Payments share price plummeted in the March bear market to as low as 97 cents per share. The EFTPOS payment solutions provider currently has a market capitalisation of $1.7 billion at the time of writing.

Foolish takeaway

The Tyro Payments share price rocketed higher in early trade but is backtracking in early afternoon. The EFTPOS terminal outage the company announced is still being investigated, with Tyro to assess the full extent of the damage once the issue is resolved.

More reading

• Why BetMakers, Emerge Gaming, Infratil, & Tyro shares are pushing higher
• Tyro (ASX:TYR) on notice for illegal acts
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Ken Hall has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Tyro Payments. 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 Bod Australia Ltd (ASX: BDA) share price is storming higher today as the company announced strong sales.

Shares in the medicinal cannabis company have soared on the news, gaining 10.47%. As a result the Bod share price is currently trading at 48 cents.

What’s driving the Bod share price?

This morning, Bod announced it had achieved strong cannabis sales for the second half of the calendar year 2020.

The company fulfilled 3941 prescriptions in the six-month period, up 91% on the previous half-year results of 2063. This means the cannabis producer has now filled more than 8000 prescriptions since July 2019.

The positive growth can be attributed to continued product uptake and strong brand recognition in Australia. In addition, the company’s nationwide study released last year has continued to educate Australians on the benefits of Bod’s products. This has generated more sales.

The company also noted that repeat prescribers accounted for 62% of the volume in the second half of 2020, indicating both patient and physician satisfaction.

What did management say?

Bod CEO Jo Patterson welcomed the news, saying:

It is very pleasing to see strong growth and continued support from patients and physicians for our MediCabilis product. MediCabilis is commonly prescribed for a range of chronic conditions, but most noticeably chronic pain and anxiety.

To treat these kinds of conditions, patients will always require a GMP pharmaceutical grade, standardised and consistent product. This is one of the key competitive advantages of MediCabilis and one of the reasons behind the company’s strong repeat prescription growth.

We expect strong demand for MediCabilis to continue across Australia and this growth will continue to add to our revenue profile. Board and management look forward to updating shareholders on sales progress in the coming months.

What now for the Bod share price

The Bod share price fell 18% in December although shareholders were rewarded with a 71% gain over the last 6 months. This has continued into the beginning of this year with today’s 11% intraday rise.

Thanks to the recent growth in MediCabilis sales and prescription volumes, Bod’s revenue profile has significantly increased. As a result, the company is expecting this growth to continue into the coming months both domestically and in the UK market.

More reading

• Why Atomos, BOD Australia, Galaxy, & Zebit shares are racing higher
• Why the Bod (ASX:BDA) share price is rising 5% today

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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ASX shares that deliver eye watering returns are often found in the tech sector. Last year, however, two ASX shares that ran more than 1,500% were highly prospective exploration companies, powering ahead with significant discoveries and looking to pursue full commercial capability in the coming years. 

2 ASX shares that rose more than 1,500% last year

De Grey Mining Ltd (ASX: DEG) 

The De Grey share price ran not 1,500% but almost 2,000% in 2020. The company has built up a position in the prospective Mallina Basin of the Pilbara Craton, located in the northwest of Western Australia. The Mallina Gold Project comprises a landholding of more than 1,500 sq kms and boasts greater than 200 kms of gold hosting shear zones. The project currently has a gold resource of 2.2 million ounces with its new Hemi deposit discovery providing the opportunity to increase this resource base substantially. 

Turning to 2021, the company plans to continue drilling to extend and define the overall footprint of its new discoveries, leading to a maiden Hemi mineral resource estimate by the middle of calendar year 2021. Alongside its focus on Hemi, De Grey will continue to explore and define new mineralised intrusions within the greater Hemi region and other targets.

According to De Grey, the company also plans to complete and evaluate early stage project de-risking studies to pursue a corporate strategy to develop a Tier 1 Gold Project, defined as a project producing a minimum of 300,000 ounces per year with a minimum mine life of 10 years. 

Vulcan Energy Resources Ltd (ASX: VUL) 

The Vulcan Energy share price finished 2020 1,625% higher. The company is focused on reducing the carbon production footprint of lithium-ion batteries used in electric vehicles by aiming to produce the world’s first zero-carbon lithium hydroxide product.

To fully electrify our cars with lithium-ion batteries, we need lithium. However, according to Vulcan, using the current main source of producing and refining lithium (hard rock mines) to fully electrify the world’s passengers vehicles will emit approximately 1.05 billion tonnes of CO₂. This is equivalent to the annual emissions of the United Kingdom, France and Italy combined. 

Vulcan’s project will leverage deep, hot, lithium-rich brine resource which will be used to power a turbine creating renewable energy, powering the lithium extraction process and feeding excess energy into the grid. The company has commenced its pre-feasibility study and is aiming to complete its definitive feasibility study this year. Looking forward to 2023 and 2024, the company is planning a stepwise scale-up to full commercial production capacity.

Foolish takeaway

Both these ASX shares have ballooned to significantly higher market capitalisations in 2020. In the case of De Grey, the company is now worth in excess of $1 billion thanks to its stellar share price gains last year. Whilst these companies are highly prospective and pushing ahead with the steps required to reach commercial production, it is important to note that both have yet to make meaningful revenues or turn a profit. 

More reading

• These 6 ASX companies just started measuring ESG
• The Vulcan (ASX:VUL) share price just hit an all-time high
• Why the De Grey (ASX:DEG) share price is blasting 7% higher today
• Here are the best All Ordinaries performers of 2020
• Will ASX gold shares continue to shine in 2021?

Motley Fool contributor Lina Lim 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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It certainly has been a positive day of trade for the banking sector.

Strong gains by the big four banks on Thursday are helping to drive the S&P/ASX 200 Index (ASX: XJO) notably higher.

What is happening?

Here’s the state of play in the banking sector this afternoon:

The Australia and New Zealand Banking GrpLtd (ASX: ANZ) share price is up 4.5% to $23.82.

The Commonwealth Bank of Australia (ASX: CBA) share price is up 2.5% to $84.86.

The National Australia Bank Ltd (ASX: NAB) share price is up 3% to $23.11.

The Westpac Banking Corp (ASX: WBC) share price is up 4.5% to $20.22.

Why are the banks charging higher?

Today’s gains appear to have been driven by a broker note out of Citi in the United States.

According to the AFR, Citi doesn’t believe the big four banks’ rally is over and remains positive on the investment opportunity with them. Particularly given its belief that they will soon resume paying out up to three-quarters of their profits as dividends.

Citi is most positive on ANZ and Westpac. The broker has retained its conviction buy ratings on the two banks.

It has, however, downgraded NAB’s shares to neutral following its strong share price rally over the last three months.

The broker explained: “NAB is now trading at 1.2 times book value or at about a 20 per cent premium to both ANZ and Westpac for a similar sustainable profitability profile.”

Though, it is worth noting that NAB isn’t the broker’s least preferred bank. That title goes to Commonwealth Bank. Citi believes the market has already fully priced in a restoration of dividends, excess capital, and underlying earnings growth.

It also warned that Commonwealth Bank’s shares could underperform as investors look for stronger returns.

Citi commented: “A recovering bank sector will test CBA’s perceived ‘safe haven’ status as investors seek more upside in other names.”

More reading

• ASX 200 up 1.55%: ANZ & Westpac surge higher, Afterpay & Xero tumble
• 2 blue chip ASX dividend shares to buy
• 5 things to watch on the ASX 200 on Thursday
• ASX 200 drops 1.1%
• What strong jobs data means for ASX 200 shares

Motley Fool contributor James Mickleboro owns shares of Westpac Banking. 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 market looks poised to power on into this new year and leading brokers have come out early to urge investors to buy these ASX stocks.

The S&P/ASX 200 Index (Index:^AXJO) surged 1.2% this morning following a positive lead from Wall Street.

No one knows how long this party will last, but as the market adage goes – “the trend is your friend”.

Buy this ASX wealth manager as equities jump

What’s also good news is that there are still attractively priced ASX stocks to be had. One of these is the Pinnacle Investment Management Group Ltd (ASX: PNI) share price even though its hovering at a more than two-year high.

But the analysts at Macquarie Group Ltd (ASX: MQG) thinks it’s not too late to buy the stock after management posted its latest update.

Pinnacle is leveraged to the share market bull run as this shows up in the performance fees the wealth manager collects.

Bull market boosts fees

The group’s affiliates have crystallised around $44.3 million in such fees in the first half of the financial year. Pinnacle’s share is about $11 million, which is ahead of expectations.

There could be more good news to come. Macquarie noted that such fees are heavily skewed to the second half.

PNI have a high percentage of Affiliates in performance fee territory,” said the broker. “Upside risk exists to our FY21 estimates should performance be sustained.”

Macquarie reiterated its “Outperform” recommendation on the stock with a 12-month price target of $7.96 a share.

Gaining altitude

Another stocks worth watching is the Sydney Airport Holdings Pty Ltd (ASX: SYD) share price. While shares in the airport operator have rebounded by more than 30% since the COVID‐19 disaster, Morgan Stanley noted that recent data points to further gains for the SYD share price.

The broker was specifically talking about international and domestic seat capacity. It collated the data from several aviation sources.

Seat capacity represents the combined airline reservations for a particular airport.

Industry data points to more upside for SYD share price

“Airport revenue is predominantly a function of passenger (pax) throughput via landing charges, retail, and property earnings,” noted the broker.

“Forward capacity represents the combined airline plans, albeit subject to cancellations.”

Morgan Stanley repeated its “Overweight” recommendation on the stock with a 12-month price target of $6.67 a share.

More reading

• ASX 200 up 1.55%: ANZ & Westpac surge higher, Afterpay & Xero tumble
• Why the Oil Search (ASX:OSH) share price is surging higher today
• ASX 200 drops 1.1%
• What strong jobs data means for ASX 200 shares
• ASX 200 down 0.5%: Energy shares jump, big four banks fall, Zip climbs higher

Motley Fool contributor Brendon Lau owns shares of Macquarie Group Limited. The Motley Fool Australia owns shares of and has recommended Macquarie Group 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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There are a number of quality software as a service (SaaS) ASX shares that may be worth looking into.

SaaS businesses are companies that provide an important ongoing service to clients. Here are some of the larger ones on the ASX:

Altium Limited (ASX: ALU)

Altium is one of the world’s leading electronic PCB software companies. It assists individual engineers, or teams of engineers, to design the vehicles, devices and other products of the future.

It has an impressive list of large, globally-recognised clients including Tesla, Toyota, Ford, Bosch, Google, Proctor & Gamble, Google, Space X, NASA, Boeing, Lockheed Martin, CSIRO, Cochlear Limited (ASX: COH), ResMed Inc (ASX: RMD), Boston Scientific, Siemens, ABB, Honeywell, Microsoft, Lenovo, HP, Amazon, Disney, Apple, Broadcom, Qualcomm and Texas Instruments.

The SaaS ASX share has announced its plan to pivot the business towards the cloud with its online platform offering called Altium 365. The idea is that it will help engineer teams to collaborate better and provide better service for customers. The change could also lead to direct and indirect monetisation opportunities for Altium whether it’s based on transactions (like the Airbnb model) or premium services (such as the Amazon Prime model). Clients can continue to utilise Altium’s software how they wish to.

In the FY20 result, Altium reported that Altium Designer subscribers grew by 17%, revenue grew by 10% to US$189.1 million and earnings before interest, tax, depreciation and amortisation (EBITDA) rose by 13% to US$75.6 million. The EBITDA margin increased to 40%, up from 38.9%.

Altium has provided guidance that revenue is expected to increase by 6% to 12% to a range of US$200 million to US$212 million in FY21.

Volpara Health Technologies Ltd (ASX: VHT)

Volpara is a medical technology business. Its main service is providing software to help detect breast cancer early on by increasing the quality of screening using AI.

The FY21 interim result from Volpara showed that annual recurring revenue (ARR) went up by around 27% to NZ$19.9 million as subscription revenue grew by 71% to NZ$8.8 million.

Volpara can boast of a fairly high market share. Approximately 27% of women in the US had a Volpara product used on their data and images. This was an increase compared to 25.8% at the end of the prior corresponding period.

The SaaS ASX share also reported that its gross profit margin went up, when it was already high. It grew three percentage points from 89% to 92%. The average revenue per user (ARPU) grew by 4.5% to US$1.16.

Management want to keep the client retention rate high, increase ARPU, win new customers, sell more services to existing customers and look at potential acquisitions.

Xero Limited (ASX: XRO)

Xero is one of the largest cloud accounting businesses in the world. Its target market is small and medium business customers. One of the main benefits of using Xero software is that it offers a number of automation and time-saving tools. Business owners, employees, bookkeepers, accountants and other people can all access the same system. Xero likes to present its software in a ‘beautiful’, easy-to-understand way to users.

The SaaS ASX share generates consistent monthly cashflow as subscribers pay for the product. The cloud accounting model means that users can access the numbers anywhere at any time.

Xero reported continuing growth in the FY21 half-year result. It revealed that operating revenue grew by 21%, subscriber numbers increased by 19% and there was a 15% rise in annualised monthly recurring revenue. All of these growth numbers helped EBITDA go up 86%. Its gross profit margin remains very high, reaching 85.7% in the report.

A key part of the growth engine was the UK, where total subscribers went up by 19% to 638,000.

More reading

• ASX 200 up 1.55%: ANZ & Westpac surge higher, Afterpay & Xero tumble
• Why Nick Scali, Nitro Software, Silver Lake, & Xero shares are dropping lower
• ResMed (ASX:RMD) share price returned 20% in 1 year. Where to in 2021?
• 2 high quality ASX growth shares to buy today
• Are heads in the clouds with these sky high P/E ratios?

Tristan Harrison owns shares of Altium. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Altium and VOLPARA FPO NZ. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Cochlear Ltd. and Xero. The Motley Fool Australia has recommended Cochlear Ltd., ResMed Inc., and VOLPARA FPO NZ. 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 Atomos Ltd (ASX: AMS) share price is surging higher this morning, after the video equipment company announced a sales guidance update. At the time of writing, the Atomos share price is up an outstanding 13.2% to $1.11.

What did Atomos announce?

The Atomos share price is on the move after announcing it has surged past its previous sales guidance.

According to this morning’s release, Atomos advised it has delivered $32.6 million in sales for the first-half of FY21. The result was a much better than the expected $28 million for the 6 months ending December 2020.

In contrast, $11.8 million was achieved the prior period, although this was marred by global COVID-19 lockdowns which affected trading conditions.

Pleasingly, the current sales performance matches the company’s half-year record reported in the first half of FY20. The rebound in sales was underpinned by the launch of Apple’s ProRes RAW feature, which saw a strong adoption. Most major video companies around the world have stated their support for the new ground-breaking technology.

Atomos highlighted that because of its long-standing partnership with Apple, it is been the only company able to record on ProRes RAW format. In light of this, key camera makers such as Sony, Canon, Panasonic and Nikon have all released new RAW camera using Atomos equipment. Previously, the company supported Fuji and Olympus to record ProRes RAW images.

In addition, Atomos noted that the response to its new neon range (soft-launched late last year) has been positive. Targeting the entertainment market, initial sales for the neon range were recorded around $1 million. The company expects this revenue stream to accelerate in the second-half of the financial year.

Atomos revealed that cost management initiatives remain in check, and are in line with original forecasts. Earnings before interest, tax, depreciation and amortisation (EBITDA) and cash flow are projected to be positive for next month’s half-yearly report.

What did management say?

Atomos executive chair Mr Chris Tait commented on the strong result, saying:

We are very happy with the Company’s performance. The marked recovery in sales from the first half of calendar year 2020 has resulted in us equalling our record performance for a six-month period. The fact that this has been achieved in such trying circumstances, with reduced resources and lower costs is both an indication of relevance and value of our products to our customers and a testament to the remarkable Atomos team.

Atomos share price snapshot

The Atomos share price has been travelling higher over the past 6 months, hitting gains of over 130% for investors.

During March 2020, the company’s shares fell to an all-time low of 24 cents, but have since strongly recovered.

On the current Atomos share price, the company has a market capitalisation of $238.1 million.

More reading

• Why Atomos, BOD Australia, Galaxy, & Zebit shares are racing higher

Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Atomos Ltd. The Motley Fool Australia has recommended Atomos 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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