In today’s briefing:
- GoTo: In Need of More Cash as Growth Begins to Decelerate
- Amman Mineral International IPO – Promising Assets with Decent Prospects
- GoDaddy Inc: Tapping Into The AI Market For Growth? – Major Drivers
- Taiwan Semiconductor Manufacturing: 3 nm Technology Saving The Day? – Key Drivers
- Teleflex Incorporated: New Launches & Other Key Drivers
GoTo: In Need of More Cash as Growth Begins to Decelerate
- GoTo (GOTO IJ) is seeking shareholder approval to raise new capital through a private placement of shares (118.4bn A shares). Shareholder meeting will be held on 30th June.
- The company’s strategy to prioritise profits have put pressure on growth rates and it seems that the company is in need of more funds to refuel its decelerating growth rates.
- Though profit matrices have improved, some important growth matrices such as GTV have shown a downward trend and the company is still burning cash.
Amman Mineral International IPO – Promising Assets with Decent Prospects
- Amman Mineral Internasional (1416286D IJ) is looking to raise around US$880m in its Indonesian IPO.
- Amman Mineral International (AMI) carries out exploration, development, mining, processing. The company operates an open pit copper and gold mine known as the Batu Hijau mine in Indonesia.
- AMI’s profitability grew dramatically over the track record period. However, copper prices might possibly be on a downtrend in the near term.
GoDaddy Inc: Tapping Into The AI Market For Growth? – Major Drivers
- In the first quarter, GoDaddy drove double-digit growth in its Commerce and Applications segment, supported by 10% ARR growth in its Create and Grow products.
- The Core Platform revenue of GoDaddy was $698 million, with a strong normalized EBITDA margin.
- The newly managed WooCommerce store offering of GoDaddy replaced its old managed WordPress Commerce offering.
Taiwan Semiconductor Manufacturing: 3 nm Technology Saving The Day? – Key Drivers
- Taiwan Semiconductor had a weak quarter and the company’s revenue declined 16.1% in U.S. dollars due to weaker macroeconomic conditions and declining end-market demand.
- However, fabless semiconductor inventories increased in the fourth quarter at a significantly greater level.
- Additionally, the end market demand recovery due to the channels’ reopening is considerably less than the company anticipated.
Teleflex Incorporated: New Launches & Other Key Drivers
- Teleflex had a strong start to 2023 with an all-around beat.
- For the first quarter, the revenues of Teleflex were $710.9 million, a year-over-year increase.
- Teleflex continues to benefit from its diversified portfolio and viewed strength across its largest product categories, including OnControl, balloon pumps, and complex catheters.
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