3 ASX All Ords stocks beaten on earnings
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The Index of all ordinaries (ASX:XAO) closed down 0.06% today as the ASX reporting season wraps up for another year.
The following ASX All Ords shares also had a day in the red, following the release of FY22 and half year results today. However, a late rally saw two of the companies return to base. We’ll take a look.
Healthia’s share price fell 4% today after the ASX-listed healthcare company posted subdued FY22 results.
Sales did quite well with revenue growth of 44.4% to $202.8 million, but Healthia recorded a net loss of $3.3 million.
Healthia attributes the loss to flooding in southeast Queensland and New South Wales, staff absenteeism and cancellations resulting from COVID-19. Added to this are non-recurring acquisition, integration and restructuring costs.
During the year, Healthia deployed $111.3 million of capital to acquire 95 new businesses. This includes the 63 Back In Motion physiotherapy clinics, enabling Healthia to become one of the largest healthcare providers in Australia and New Zealand.
However, these acquisitions stretched Healthia’s balance sheet. It increased its borrowings to around $77 million and successfully negotiated an extension of its funding facility from $70 million to $100 million.
Management said it expects to record underlying earnings before interest, taxes, depreciation and amortization of more than $40 million in FY23.
Healthia also expects to spend at least $20 million on acquisitions in FY23.
The company’s current market capitalization is approximately $231 million.
Family Zone Cyber Safety Ltd (ASX: FZO)
Family Zone stock price spent all day in the red on a poor run of financial results for FY22 before returning to its previous closing price of 40 cents apiece in the final moments of trading. . The company is focused on developing a cybersecurity and parental control platform.
Revenue grew 399% from $8.96 million in FY21 to $44.73 million in FY22, but that couldn’t curb the huge jump in its net loss. Family Zone recorded a 243% increase in net loss from $21.98 million in FY21 to $75.38 million in FY22.
The significant variation in results is due to the Company’s acquisition of Smoothwall and Cipafilter during the year.
Family Zone currently holds $32.75 million in cash and $0.2 million in long-term debt.
Cash outflow from operations decreased from negative $15.48 million in FY21 to negative $37.32 million in FY22.
The market capitalization of Family Zone is approximately $352.23 million.
Audio Pixels Holdings Ltd (ASX: AKP)
Audio Pixels stock price fell 3% today due to weak results for HY22. However, shares of ASX All Ords also rallied to their previous closing price of $14.47 in the final moments of trading.
Revenues increased from $58.3 million in 1H21 to $78.6 million in 1H22. Audio Pixels’ net loss also went in the right direction, dropping from $1.6 million to $0.68 million. However, when you factor in currency differences, the net loss went from $2.66 million in HY21 to $2.98 million in HY22.
Operating cash outflow improved slightly from $2.64 million in HY21 to $2.50 million in HY22.
It looks like Audio Pixels needs to raise more capital or rely on more debt given that it holds $0.59 million in current assets and $1.40 million in current trade debt.
Audio Pixels relied heavily on unsecured loans of $2.39 million at HY22.
The current market capitalization of Audio Pixels is approximately $415 million.