Some highlights from this morning and yesterday:
Bubs (BUB) swung around from a A$19.8m loss to giving guidance for A$5.5-6M EBITDA profit
Clarity Pharmaceuticals (CU6) - A$203M (largest deal, 2.2% premium despite volatile biotech market)
Asara Resources (AS1) - A$25M (strong institutional demand for Guinea gold project)
Capital Signal
ASX Market Update - July 29, 2025
📊 A$310+ million raised across 19 deals | 3 sectors | Market sentiment: Mixed (42% negative, 26% positive) | Guidance changes: Mixed upgrades & turnarounds
Profit Guidance Updates
Helloworld Travel Limited (HLO)
Guidance Upgrade
$58.0M - $62.0M EBITDA
Market Cap: $242.5M 0.0% ●
$58.0M - $62.0M EBITDA
Market Cap: $242.5M 0.0% ●
FY25 EBITDA: $58.0M - $62.0M (upgraded from $52M - $56M)
Period: FY25
Growth: Upgraded range by $6M at midpoint
Period: FY25
Growth: Upgraded range by $6M at midpoint
Key Drivers: Improved margins, well managed costs, gain on Webjet shareholding revaluation
Standout Metric: Ready Rooms business up 110% on pcp, strong forward bookings into 2026
Bubs Australia Limited (BUB)
Turnaround
$5.5M - $6M EBITDA
Market Cap: $151.8M -2.86% ●
$5.5M - $6M EBITDA
Market Cap: $151.8M -2.86% ●
FY25 EBITDA: $5.5M - $6M (achieved, vs $19.8M loss in FY24)
Turnaround: From $19.8M loss to $6M profit
Improvement: ~$25M positive swing
Turnaround: From $19.8M loss to $6M profit
Improvement: ~$25M positive swing
Key Drivers: Revenue growth, positive cash flow, working capital discipline, cost-out initiatives
Standout Metric: FY25 revenue $102.5M, up 29% on FY24, achieved positive operating cash flow
Pureprofile Limited (PPL)
Record Achievement
$57.2M Revenue, $5.2M EBITDA
Market Cap: $57.3M +6.52% ●
$57.2M Revenue, $5.2M EBITDA
Market Cap: $57.3M +6.52% ●
FY25 Results: $57.2M revenue (19% growth), $5.2M EBITDA (18% growth)
Acceleration: From 10% growth in FY24 to 19% in FY25
Achievement: Record full-year performance
Acceleration: From 10% growth in FY24 to 19% in FY25
Achievement: Record full-year performance
Key Drivers: Momentum across key regions, successful execution of growth strategy
Standout Metric: Rest of World revenue up 28% to $26.4M, accelerating growth trajectory
Major Capital Raisings
Clarity Pharmaceuticals (CU6)
Institutional Placement
A$203M
Market Cap: $1.33B -2.14% ●
A$203M
Market Cap: $1.33B -2.14% ●
Issue Price: $4.20 (2.2% premium to market)
Structure: Fast, well-executed placement
Market: Volatile biotech environment
Structure: Fast, well-executed placement
Market: Volatile biotech environment
Use of Funds: Fund pivotal clinical trials and therapeutic pipeline development
Key Metric: Premium pricing despite volatile biotech market, strong company fundamentals
Asara Resources (AS1)
Institutional Placement
A$25M
Market Cap: $59.5M -3.57% ●
A$25M
Market Cap: $59.5M -3.57% ●
Issue Price: $0.05 (7.4% discount)
Investor Base: High quality institutional investors
Project: Kada Gold Project, Guinea
Investor Base: High quality institutional investors
Project: Kada Gold Project, Guinea
Use of Funds: Accelerate exploration at Kada Gold Project in Guinea
Key Metric: Strong institutional demand reflects significant growth potential of Kada project
Australian Strategic Materials (ASM)
Institutional Placement
A$13M (A$24.9M total with SPP)
Market Cap: $145.7M +5.11% ●
A$13M (A$24.9M total with SPP)
Market Cap: $145.7M +5.11% ●
Issue Price: $0.5647
Total Raising: A$24.9M including SPP
Market Position: Diversified rare earth supply chains
Total Raising: A$24.9M including SPP
Market Position: Diversified rare earth supply chains
Use of Funds: US metallisation expansion, Korean Metals Plant ramp-up
Key Metric: Positioned for global demand for resilient rare earth supply chains
Strategic Investments & Smaller Rounds
PainChek (PCK)
Placement
A$7.5M
Market Cap: $73.7M +2.56% ●
A$7.5M
Market Cap: $73.7M +2.56% ●
Issue Price: $0.034 (15% discount)
FDA Status: US FDA clearance expected Sept/Oct 2025
Focus: AI pain assessment technology
FDA Status: US FDA clearance expected Sept/Oct 2025
Focus: AI pain assessment technology
Use of Funds: US FDA commercialisation, international expansion
Key Metric: Well positioned for major international expansion post-FDA clearance
Jcurve Solutions (JCS)
Strategic Placement
A$1M
Market Cap: $9.9M 0.0% ●
A$1M
Market Cap: $9.9M 0.0% ●
Issue Price: $0.05 (66.67% premium!)
Investor: Strategic investor from US NetSuite ecosystem
Strategic Value: Premium pricing for strategic alignment
Investor: Strategic investor from US NetSuite ecosystem
Strategic Value: Premium pricing for strategic alignment
Use of Funds: Accelerate ARR sales growth
Key Metric: Significant 66.67% premium reflects high strategic value to NetSuite ecosystem
Market Summary
Sector Distribution: Mining (63%), Healthcare/Technology (21%), Energy/Industrial (16%)
Price Reactions: 42% negative, 26% positive, 32% flat
Notable Premium: JCS achieved 66.67% premium, CU6 achieved 2.2% premium
Thanks for reading Capital Signal
ASX Market Update - July 29, 2025
ASX Market Update - July 29, 2025