Daily Roundup

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Cogstate Delivers Strong 1H25 Results

Cogstate Ltd (ASX:CGS) has reported impressive financial results for the first half of fiscal year 2025 (1H25). The company saw a 19% increase in total revenue, reaching $23.9 million, with a standout performance in its Clinical Trials business.

Clinical Trials revenue jumped 27% to $22.7 million, and the company's net Clinical Trials sales contracts grew by a remarkable 86% to $20.3 million. Cogstate noted that it bid on more new sales opportunities during the half, some of which are still being pursued, reflecting the expansion of its offering and an improved funding environment for US-based biotech firms.

Importantly, Cogstate maintained its Gross Profit Margin and EBIT Margin percentages consistent with the second half of fiscal 2024, despite the revenue growth. This efficiency is attributed to the company's technology investments over the past two years, which have driven gains across the business. Cogstate also reduced its full-time employee headcount from 166 to 154, showcasing its ability to scale operations.

The company's cash balance increased to $34.2 million at the end of December 2024, up from $30.1 million six months earlier. Cogstate also repurchased 1.4 million shares for a total cost of A$1.6 million during the half-year.

Biome Australia Reports Stellar Q2 Results

Biome Australia Limited (ASX: BIO) has delivered another impressive quarter, reporting positive EBITDA of $234,000 for Q2 FY25 - a 92% increase compared to Q1. The company achieved record quarterly sales revenue of $4.61 million, up 41% year-over-year, and maintained a robust gross margin above 60%.

Biome's cash receipts also grew by 41% compared to the prior corresponding period, and the company received $15,000 from the exercise of options during the quarter. Cash flow from operating activities was a net inflow of $107,000.

Biome is on track to report its first net profit in the audited half-year accounts for H1 FY25, a significant milestone for the company. Its Vision 27 strategic plan is progressing well, with Biome carefully managing operating expenses and making measured investments to drive strong growth in both sales revenue and EBITDA.

Who Dat West Exploration Well Comes Up Dry

Karoon Energy (ASX:KAR) has provided an update on the Who Dat West exploration well, located in Mississippi Canyon Block 629. The well has reached its final Total Depth of 7,147 metres, with analyses confirming that no significant hydrocarbon-bearing intervals were present in the drilled section.

As a result, the well will now be plugged and permanently abandoned. This marks the conclusion of Karoon's 2024 Who Dat near-field exploration and appraisal campaign, which led to important discoveries at Who Dat East and Who Dat South.

With the drilling campaign complete, the Who Dat Joint Venture, comprising LLOG (operator), Karoon, Westlawn Americas Offshore, and Houston Energy, will now commence studies on potential development options for the recent discoveries.

Yancoal Delivers Robust Q4 2024 Results

Yancoal Australia Ltd (ASX:YAL) has reported strong operational and financial performance in the December 2024 quarter, with an impressive average realised coal price of A$176 per tonne.

The company's cash balance increased by $480 million to $2.46 billion, and it achieved 36.9 million tonnes of attributable saleable coal production in 2024, meeting its guidance. Yancoal's large-scale, low-cost coal production profile and robust operating margins have positioned the company well to navigate the current coal market conditions.

Looking ahead, Yancoal expects its cash operating costs to fall within the guided range when it reports its full-year 2024 financial results in February. The company's focus on safety is also evident, with its Total Recordable Injury Frequency Rate remaining below the industry benchmark.

QuickFee Delivers Record Quarterly Revenue

QuickFee Limited (ASX:QFE) has announced a strong Q2 FY25 business update, reporting record quarterly revenue of A$6.2 million - a 22% increase compared to the prior corresponding period.

The company saw continued growth in its core Finance product in both Australia and the US, as well as increasing adoption of its Connect platform. QuickFee now has 95 firms signed up for Connect, up 38% quarter-on-quarter, and is gaining traction in secondary verticals such as legal, government contracting, executive search, and other professional services.

QuickFee is on track to deliver FY25 EBTDA (Earnings Before Tax, Depreciation and Amortization) in the range of A$1.5 - A$2.5 million, with a stronger second half expected. The company's growth trajectory remains on track, and it is encouraged by the opportunity to further diversify its US revenue across secondary target verticals in 2025.