ASX 200 (XJO) drops, Hub (ASX:HUB) delivers record June 2020

The ASX 200 (ASX: XJO) is currently down by 0.55% as investors fret about COVID-19 effects.

In Victoria there has been another 275 cases. NSW is now at a “critical point” as the state saw another 20 new COVID-19 cases.

Hub24 (ASX: HUB) delivers record growth

Hub24 announced that funds under administration (FUA) reached $17.2 billion, an increase of 34% despite the negative market movement impact of $0.6 billion in the year. The annual net inflow of $4.95 billion was a record and it was 27% higher than last time.

The FUA increase for the June 2020 quarter was $2.1 billion, which included positive market movements of $1 billion. The June quarter saw record net inflows of $1.1 billion, this was up 11% on the prior corresponding period.

The financial technology company said that momentum built during the quarter after a weak April due to COVID-19. Advisers adjusted to the new environment. Inflows were driven by client transitions from existing platforms with important wins from key accounts and broker clients.

Hub24 said that its new business pipeline is growing with 34 new licensee agreements signed during the quarter, including a new large national licensee.

The Hub24 share price is up 0.2%.

FlexiGroup’s (ASX:FXL) humm impresses

FlexiGroup announced that in the fourth quarter of FY20 buy now, pay later provider humm saw strong online growth with ecommerce volume up 315% and total transactions up 447% compared to the fourth quarter of FY19.

Some of the new retailers that the company has recently won include Temple & Webster (ASX: TPW), Amart Furniture, Snooze, Bonds, Lego, Cotton On, Typo and luxury brand Bally. Management said that offer of interest free spending from $1 to $30,000 is resonating.

FlexiGroup also announced that humm has made a partnership with Veterinary Growth Partners, which comprises around 170 independent veterinary hospitals.

The company said that the company onboarded a record number of merchants to both instore and online. New online merchants increased by 54%.

The FlexiGroup share price is up 2.5%.

Catapult (ASX: CAT) goes cashflow positive

The sports analytics company said it generated net free cash of $9 million in FY20, an improvement of $24.1 million compared to FY19. Positive free cashflow was achieved a year earlier than forecast.

Catapult also said that revenue and EBITDA (click here to learn what EBITDA means) continue to grow despite the postponement of many professional sporting leagues around the work. That’s due to the subscription nature of most of Catapult’s revenue. The company expects to report total revenue in FY20 of between $100 million to $101 million. FY20 EBITDA is expected to be between $11.5 million to $12.5 million.

The company finished FY20 with $27.5 million of cash.

How did Catapult achieve this? Revenue growth obviously helped as it continued to win new customers and retain existing ones. But the company also said it adopted conservative cost control measures and managing working capital.

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At the time of writing, Jaz holds no financial interest in any of the companies mentioned.

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