ASX tech shares have been hammered in 2022, with the index down 20.81%.
Despite the fall, here are five ASX tech shares I’ll be tracking closely on Tuesday.
Keep up to date with the February 2022 reporting season calendar.
1. SEEK Limited (ASX: SEK)
ASX tech share Seek, which owns online job sites across Australia and Asia, achieved a 59% jump in revenue for the half.
Impressively, EBITDA increased by a relatively faster pace, up by 83% driven through recovering job volumes.
Subsequently, Seek declared a 23 cent per share dividend and is now trading on a dividend yield of 1.4%.
2. Adore Beauty Group Ltd (ASX: ABY)
The online beauty reseller recorded an 18% jump in revenue to $113.1 million.
Active customers increased 13% and returning customers increased 56% inferring customer loyalty.
The business also recorded an EBITDA of $3.8 million, within its target range of 2-4%.
Adore Beauty is investing heavily in its brand today in hope of reaching sufficient scale in future periods.
It’s similar to the strategy that ASX tech share, Temple & Webster Group Ltd (ASX: TPW) has been adopting.
“The disciplined investment we have made in content engagement, brand building, and our growing organic channels, is showing strong early results”
3. ELMO Software Ltd (ASX: ELO)
Human resources and accounting software provider ELMO announced a 35% jump in annualised recurring revenue (ARR) to $98.3 million.
It’s so close to reaching $100 million in annualised recurring revenue, largely considered one of the most important milestones for a software business.
EBITDA turned positive, while its churn rate fell below 10% over the half.
Notwithstanding the outstanding growth, ELMO’s loss ballooned out past $40 million.
At the current loss rate, ELMO is burning a staggering $80 million a year. It’ll need to reduce this outflow quick otherwise it could run out of cash in no time.
4. Atomos Ltd (ASX: AMS)
The video technology ASX tech for creators and professionals achieved a record revenue of $40.9 million in the first half.
EBITDA improved to $3.2 million. Meanwhile, management confirmed their ambitious revenue target of $95 million for FY22 as new product launches spur sales.
5. Money3 Corporation Limited (ASX: MNY)
Consumer finance business Money3, which provides personal and motor loans, ramped up its lending by 56.3% in the first half.
As a result, revenue increased 34.5%, EBITDA by 27.1% and net profit by 29.6%.
Management has elected to rewards shareholders with a 6 cent per share dividend.
The Group continues to experience strong customer demand for assets, a solid economic environment driving down bad debts and impairment provisions, and continuing supply chain shortages continue favourable pricing for used assets
