Hello, this is what you need to know in tech today.
1. The ASX wants to stop low revenue tech companies from listing. Earlier in the week it was tipped that the ASX would be looking to make changes around how low revenue companies can list, and now they’ve finally announced the recommendations put forward.
The key proposals on which feedback is sought include:
– Increasing the financial thresholds for listing – in particular lifting the “assets test” thresholds from net tangible assets of $3 million or a market capitalisation of $10 million to an NTA of $5 million or a market cap of $20 million
– Introducing a 20% minimum free float requirement and changing the spread test to better demonstrate a sufficient level of investor interest in the entity and its securities to justify listing
– Making the minimum $1.5 million working capital requirements consistent across all entities admitted under the assets test
– Introducing a requirement for entities admitted under the assets test to provide audited accounts for the last three full financial years, unless ASX agrees otherwise.
2. Here’s why the EPL is so important to Optus. Optus’ quarterly results came out today. Its net profit is up 10%, but that doesn’t paint the whole picture.
What’s most concerning for Optus, and for most carriers, is the average revenue per user in both mobile and fixed broadband.
The fixed-broadband ARPU was completely flat, and mobile is taking a big hit.
In the post-paid market, the ARPU was down 17% to $50 per customer. It was even worse for the prepaid side, with ARPU down 22% to $21 per customer.
Optus is hoping it can grow this all important number through its English Premier League offering, and it explains why it has made it only available to Optus customers.
3. Samsung’s 2016 TVs have a price and release date. After being unveiled at CES in January, Samsung has finally debuted its flagship SUHD TVs in Australia which are due to go on sale next week.
The range starts at $3,599 for the 55-inch flat Series 8 model and go up to $5,799 for the 65-inch curved model. In the Series 9, which includes localised dimming to reduce glare and produce deeper blacks, the range starts at $3,999 for the 55-inch flat model. It goes up to $6,299 for the 65-inch curved model.
The whole range will come in either flat or curved, with the company claiming that it actually sold more curved variants than flat.
4. Allan Fels just showed what Twitter’s still useful for. Using the social media platform, Fels has accused 7-Eleven franchisees of retaliation, intimidation and threats against underpaid workers after the parent company sacked the compensation panel he chairs.
Not only has Fels shown what Twitter is still useful for — to stand up and be counted — but it also makes us think he has used Twitter before, maybe just not publicly.
5. Xero’s revenue is up 67% but it’s still losing money. Xero’s full-year revenue is up 67% to NZ$207 million and more subscribers were added than in any other year, but profits are still distant as the cloud accountancy group goes for growth.
The platform posted an 18% rise in losses to NZ$82.46 million for the year to March.
Paying subscriber numbers increased by 242,000 to 717,000, making it Xero’s biggest customer acquisition year.