In today’s briefing:
- Energy One: Busby Baulks At STG’s Offer
- PolyNovo (PNV AU): FY23 Result- Sales Momentum Accelerates; Net Loss Widens on Higher Opex
- Rent.com.au Ltd – FY23 Refocus Set to Benefit Future Revenue Generation
Energy One: Busby Baulks At STG’s Offer
- Yesterday (28 August) software provider Energy One Ltd (EOL AU) announced an indicative Offer, by way of a Scheme, from STG at A$5.85/share, a solid 44% premium to last close.
- Energy One has granted STG due diligence on an exclusive basis and the board is supportive if terms are firmed. All looks good. However …
- … Vaughan Busby, a NED and founding CEO of Energy One, is not aligned with the board. And he holds ~14%.
PolyNovo (PNV AU): FY23 Result- Sales Momentum Accelerates; Net Loss Widens on Higher Opex
- PolyNovo Ltd (PNV AU) reported record high sales of A$66.5M, up 59% YoY during FY23, mainly driven by strong momentum in the U.S. RoW sales increased 134% YoY to A$14M.
- However, net underlying loss widened to A$2.3M in FY23 from A$2.0M in FY22 due to a 50% YoY increase in operating expenses due to increasing headcount and R&D investment.
- In FY23, the U.S. customer accounts increased to 299 hospitals from 189 hospitals in FY22. PolyNovo continued geography expansion and entered Hong Kong, India, and Canada markets.
Rent.com.au Ltd – FY23 Refocus Set to Benefit Future Revenue Generation
- Rent.com.au Limited (ASX:RNT) is a purpose-led company seeking to empower home renters through its technology platform and a growing number of aligned transactional services.
- The company has reported FY23 revenue of $2.77m, down 17.8% on the previous corresponding period (pcp) but in line with our expectations.
- The EBITDA loss for the year was $2.48m, an increase of 55.5% on the pcp and a little higher than our forecast for a $2.3m EBITDA loss.
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