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(Sharecast News) - CAP-XX reported higher revenue, stronger order intake and a narrower loss in its unaudited interim results for the six months ended 31 December on Monday, reflecting improving operational momentum and rising customer demand.
The AIM-traded supercapacitor manufacturer recorded total revenue of AUD 2.6m (1.32m), up 9% from AUD 2.4m a year earlier, while billings increased 14% year-on-year to AUD 2.6m.
Bookings rose more sharply, climbing 31% to AUD 3.4m, helping to lift the order backlog to AUD 2.8m, more than double the AUD 1.2m reported in the prior-year period.
Losses after tax narrowed to AUD 1.5m from AUD 1.7m, while the EBITDA loss improved to AUD 1.1m from AUD 1.2m.
Cash at bank stood at AUD 2.9m at the end of December, down from AUD 4.2m a year earlier, with the company remaining debt-free and reporting trade debtors exceeding trade creditors by AUD 0.3m.
CAP-XX said it made "strong operational improvements" during the period, including the integration of Datapel warehouse management software and Pipeliner CRM into its MYOB core systems, which it said had streamlined operations and reduced internal inefficiencies.
Chief executive Lars Stegmann said the company's performance was increasingly being driven by demand rather than headline revenue growth.
"While the 9% revenue increase shows steady growth the real story lies in the 31% surge in bookings and our significant AUD 2.8m order backlog which we are currently delivering," he said.
"This is a clear signal that we are experiencing strong market pull."
Stegmann added that the operational changes were designed to support sustainable growth and improve cash generation.
"Our entire operational focus is directed towards becoming cash flow positive.
"Every operational improvement and efficiency gain that we implemented in the period is a deliberate step towards this milestone.
"We are running a lean, debt-free company that currently maintains a healthy cash runway and a strong orderbook," he said.
At 1021 GMT, shares in CAP-XX were up 4.35% at 0.24p.
Reporting by Josh White for Sharecast.com.