Azzet reports on three stocks with double-digit market-moving updates to share today.
IPH dives after reporting a revenue and profit miss
Shares in IPH (ASX: IPH) were down around 17.5% by 1 pm AEST (3 am GMT) after the mid-cap international intellectual property services group reported a profit and earnings miss for the 12 months to June 30.
While net profit after tax of $68.8 million was up 13.2% on the previous year, it fell well short of consensus estimates of $125.6 million; underlying profit of $120.6 million was up 7.3% and revenue of $710.3 million was up 16.5% due to increased revenue from Canadian acquisitions.
Underlying earnings of $207.2 million – up 6% - were also well shy of the $210.3 million analysts expected.
The company will pay a final dividend of 19.5 cents on 23 September, taking total FY25 dividends to 36.5 cents, up 4% on FY24.
Commenting on the performance of the group’s three operating segments, CEO Andrew Blattman told the market that the company continues to be disproportionately impacted by larger exposure to United States patent filings, which declined by 7.9% compared to an overall market decline of 1.7% in FY25.
“Organic revenue increased in ANZ despite the decline in market patent filings… in Asia, like for like revenue was flat on the prior year with Underlying EBITDA marginally down by 1.7% on the prior year,” he said.
“As we have indicated previously, our Canada business was significantly disrupted by the Canadian Intellectual Property Office (CIPO) systems issues causing a backlog of workflow which delayed revenue in FY25.”
Other key numbers announced today:
- Cash conversion ratio of 103%.
- The Group completed a capital raising of $125 million.
- Net debt at 30 June 2025 was $356.3 million (30 June 2024: $359.9m).
- The company returned $74.2 million to shareholders.
- Basic EPS up 2.9% to 25.8 cps.
- IPH Asia patent filings up 16.5% in FY25.
Outlook
Blattman told investors that IPH was focused on optimising its network of member firms targeting organic growth and operational efficiencies.
“Our focus remains on organic growth with business development initiatives targeting Western Europe, Japan, South Korea and Chinese incoming filings,” he said.
“In Asia, we aim to build on the current momentum in filings to deliver revenue and earnings growth. Our focus in Canada is to leverage our integrated platform and the anticipated recovery in patent workflow following the CIPO systems issues.”
Meanwhile, operational efficiencies to deliver estimated annualised cost savings of $8m-$10 million from FY26.
IPH has a market cap of around $1.2 billion; the share price is down 25% in one year and down 16% in the last week.
Consensus is Strong Buy.
Super Retail Group soars on robust FY25 result
Despite a sharp fall in the special dividend, shares in Super Retail Group (ASX: SUL) were trading 15% higher after the retailer behind Rebel, Supercheap Auto, BCF, and Macpac reported FY25 earnings of $399.7 million and net profit after tax $232.4 million, both above E&P and consensus forecasts.
On the back of record group sales of $4.1 billion, up 4.5%, the group issued a final fully franked dividend of 34 cents per share, plus a 30 cent special dividend.
During the year, the group expanded its store network, opening 31 new stores and closing 8, with a net increase of 23 locations across its four retail operations.
Commenting on the result, CEO Anthony Heraghty attributed the solid financial performance in FY25 - despite a challenging retail environment and heightened competitive activity - store investments, including the expansion of the network and refurbishments.
Digital investment continued, with Click & Collect accounting for almost half of online sales, while there were ongoing improvements in omni-channel fulfilment, plus a new distribution centre in Victoria.
Overall, like-for-like growth across the portfolio was mixed, with a strong performance from BCF, a solid result from Rebel, and softer outcomes for Supercheap Auto and Macpac.
Other key numbers announced today:
- Online sales grew 8% to $524 million, now 13% of total sales.
- Segment earnings steady at $400 million.
- Active club membership base jumped by 1 million to 12.5 million.
- No drawn bank debt and $63 million cash balance.
- Supercheap Auto's total sales increased by 2.1% to $1.5 billion.
- Rebel's total sales grew by 4.8% to $1.4 billion.
- BCF's total sales increased by 7.9% to $951 million.
- Macpac's total sales increased by 3.8 per cent to $231 million.
- Operating cash flow of $577 million was $58 million below the prior period, reflecting a $39 million outflow of working capital.
- Total capital expenditure of $165 million was $31 million higher than FY24.
Outlook
Continuing on from accelerated growth for all four brands in the second half, like-for-like sales are up 3.1% and total sales up 5% in the first seven weeks of FY26.
During FY26, the group plans to open 23 new stores and invest $155 million in capital expenditure in FY26, targeting further network growth, distribution centre completion, and digital capability upgrades.
While no FY26 earnings guidance was provided, E&P retail analysts expect consensus earnings estimates to rise 5-7%, depending on the sustainability of early FY26 sales growth.
“Further, while the special dividend was below our forecasts, the total DPS for FY26 is 16% ahead of VA expectations with the special dividend representing a yield of 2%.”
Super Retail Group has a market cap of $4.2 billion; the share price is up 12% one year and up 23% in the last month.
The stock appears to be in a medium-term rally, confirmed by multiple indicators.
Consensus is Hold.
Artrya rockets on strength of FDA regulatory milestone
Shares in Perth-based Artrya (ASX: AYA) were up a whopping 35.4% at the open this morning after the medical technology smallcap received FDA 510(k) clearance for its Salix Coronary Plaque module, enabling near real-time, AI-powered assessment of high-risk coronary plaque at the point of care.
Following the company’s July U.S. market launch – which builds on its commercial rollout of the Salix Coronary Anatomy platform – today’s regulatory milestone enables the company to charge per-scan fees in its largest market, significantly enhancing revenue potential.
It’s understood that the reimbursement rate is set at US$950 per assessment from 2026.
More than 4.4 million CCTA scans are performed annually across the U.S., with volumes growing by more than 6% each year.
The Salix Coronary Plaque module is an AI-powered tool that detects and quantifies high-risk coronary artery plaque, a key indicator of heart attack medical staff often miss in current manual practices.
FDA 510(k) clearance allows Artrya to deploy the module immediately within the company’s existing Salix Coronary Anatomy platform, already in use at Tanner Health and is integrating with additional health systems.
Artrya plans to build its U.S. rollout around three strategic partnerships with mid-sized hospital systems.
Integrations with Northeast Georgia Health and Cone Health are also underway, which is expected to provide a scalable entry point to the U.S. market by working with regional networks that can expand use across multiple sites.
Commenting on today’s update, CEO John Konstantopoulos said the clearance significantly expands revenue potential and accelerates U.S. scaling, supported by strategic partnerships and the upcoming SAPPHIRE study.
Cash at 30 June was $11.3 million - with an estimated R&D Rebate of $4.5 to $5 million expected by the end of 2025.
Artrya has a market cap of $200 million; the share price is up 453% in one year and up 33% in the last week.
The stock appears to be in a strong bullish trend, confirmed by multiple indicators.
Consensus is Strong Buy.
This article does not constitute financial or product advice. You should consider independent advice before making financial decisions.
