Stocks of the Hour: Careteq, Sezzle, BlueBet

Company News

by Abbey Phillipps


This morning Careteq (ASX:CTQ) released its Q4 FY22 activities report. Careteq’s pipeline expanded five-fold in this period, versus the previous quarter, with over sixty active leads across the US and Australia, the company stated that its generating interest from a wide range of industries in both markets. The strong interest in Careteq’s solutions across multiple industries and markets validates the value proposition of the Sofihub eco system. Executive Chairman Mark Simari comments, "There is growing awareness that FY23 has the potential to become a very exciting period of growth for Careteq following the release of our quarterly update. Our opportunity pipeline expanded five-fold in just the last quarter to over 60 active leads as our solution is generating strong interest in the United States and Australia. The investments we have made in advancing and marketing our Assistive Living Technology solutions platform since we listed on the ASX seven months ago is paying off. We have never been in a better position to grow our subscriber base." Shares in Careteq are trading 12.2 per cent higher at 8 cents.

Buy now, pay later player Sezzle (ASX:SZL) says total revenue grew 6.8 per cent in the June quarter to US$29.3 million, underlying merchant sales up 1.9 per cent to US$419.1 million. Total active merchants climbed 19 per cent year-on-year to 47,900. Sezzle said it’s targeting US$40 million in annualised revenue and cost savings via staff redundancies and new deals with merchants. It said it received US$11 million compensation from Zip after its merger was called off. Shares in Sezzle are trading 5.9 per cent higher at $1.08.

BlueBet today released its Q4 FY22 activities report to the market. The report highlighted a strong performance for its Australian business and significant progress in its US market entry strategy. BlueBet CEO, Bill Richmond, commented “Q4 has been another strong quarter for BlueBet, with a good performance from our profitable Australian business where we continue to grow our customer base and the top line as we take market share, while retaining strong margins. In the US, with our fourth market access agreement now secure in Indiana, we now have the platform to execute Stage 1 of our US Capital Lite entry as we move rapidly towards taking first bets in Iowa, our first US state. We are well funded to deliver our strategy to scale the Australian business whilst gaining a foothold in the US market and will continue to responsibly deploy our capital to achieve sustainable growth.” Shares are 4.2 per cent higher at 62 cents.

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