ASX tech April winners: Sector pulls off market gymnastics to land on its feet

ASX tech found its rhythm in April as rate cut hopes and Wall Street gave it a lift; WhiteHawk and Elsight stole the defence show.

Tech gets its groove back with help from Wall Street and RBA. Pic: Getty Images

• Tech gets its groove back with help from Wall Street and RBA

• Defence tech darlings like WhiteHawk and Elsight grab the spotlight

• Harvest Tech goes global, Droneshield fires again

In April 2025, the ASX tech sector finally got its mojo back, punching out a near 6% gain and coming in just behind telcos for the month.

It marked a significant rebound for tech stocks, especially when the sector had been the worst performer in March.

Tech stocks managed to rally through the tariff chaos. Part of the lift also came from the RBA finally getting inflation back in the zone.

With trimmed mean inflation dipping to 2.9% – the first time it’s landed within the 2-3% target in almost four years – markets started whispering about rate cuts. ANZ thinks a 25bps this month is a near cert.

And in that kind of setup, tech stocks usually shine. Lower rates are like oxygen for growth stocks, and suddenly investors are leaning back in.

The US tech scene was lighting up too. Wall Street was rallying with the Nasdaq and S&P both ticking higher during the month, thanks to a fresh wave of optimism around the big global names after seeing off the worst of the post-Liberation Day sell off.

Aussie tech tends to follow Wall Street’s lead, and this time was no different. When the big dogs bark, the pack moves.

The big bonus came when Donald Trump stepped in with some tariff relief, cutting a break for consumer tech gear like smartphones and chips, before winding back some of his rhetoric on China and the US' other trade partners.

That took some pressure off and gave global tech a bit more breathing room, another tailwind that carried over to local players.

Put all that together, and April found a sweet spot for ASX tech — a mix of cooling inflation, global momentum, and a bit of policy luck, giving the sector the boost it was hanging out for.

ASX tech winners in April

Code	Name	Price	Month % Change	Market Cap
WHK	Whitehawk Limited	0.015	88%	$10,794,154
HTG	Harvest Tech Grp Ltd	0.020	54%	$17,918,935
BDT	Birddog	0.049	53%	$7,912,815
UBN	Urbanise.Com Ltd	0.805	45%	$51,929,748
DRO	Droneshield Limited	1.340	41%	$1,171,280,813
1TT	Thrive Tribe Tech	0.002	33%	$4,063,446
ELS	Elsight Ltd	0.450	27%	$81,716,045
ASB	Austal Limited	5.310	26%	$2,236,466,034
BRN	Brainchip Ltd	0.270	26%	$546,950,268
SNS	Sensen Networks Ltd	0.028	22%	$22,205,049
X2M	X2M Connect Limited	0.020	18%	$7,566,825
AVA	AVA Risk Group Ltd	0.105	17%	$30,499,563
KNO	Knosys Limited	0.043	16%	$9,293,964
CAT	Catapult Grp Int Ltd	4.090	16%	$1,110,124,675
EOL	Energy One Limited	12.550	15%	$393,196,307
DUB	Dubber Corp Ltd	0.041	14%	$107,558,066
EIQ	Echoiq Ltd	0.330	14%	$194,211,944
MP1	Megaport Limited	11.420	14%	$1,835,759,096
AJX	Alexium Int Group	0.009	13%	$14,277,858
SPZ	Smart Parking Ltd	0.865	12%	$354,782,268
DTZ	Dotz Nano Ltd	0.075	12%	$42,817,322
FND	Findi Limited	4.600	11%	$284,285,617
WTC	Wisetech Global Ltd	88.520	11%	$29,615,314,049
HSN	Hansen Technologies	5.410	10%	$1,102,731,753
ESK	Etherstack PLC	0.285	10%	$37,669,021
DWG	Dataworks Group	0.175	9%	$17,889,208
KYP	Kinatico Ltd	0.180	9%	$77,776,557
BCC	Beam Communications	0.099	8%	$8,555,770
ATA	Atturralimited	0.875	7%	$333,959,567
FCL	Fineos Corp Hold PLC	2.190	7%	$741,314,266
AMO	Ambertech Limited	0.160	7%	$15,264,765
YOJ	Yojee Limited	0.175	6%	$55,975,125
FCT	Firstwave Cloud Tech	0.018	6%	$30,843,336
AT1	Atomo Diagnostics	0.018	6%	$11,505,642
TNE	Technology One	30.060	5%	$9,840,698,342
XRO	Xero Ltd	164.190	5%	$25,222,482,282
360	Life360 Inc.	21.940	5%	$3,862,333,002
TYR	Tyro Payments	0.805	5%	$425,319,795
SKO	Serko	3.490	4%	$429,711,021
DCC	Digitalx Limited	0.052	4%	$62,588,442
CF1	Complii Fintech Ltd	0.027	4%	$15,427,628
VIG	Victor Group Hldgs	0.062	3%	$40,438,054
AR9	Archtis Limited	0.064	3%	$18,429,898
OCL	Objective Corp	15.650	3%	$1,495,956,050
BTH	Bigtincan Hldgs Ltd	0.215	2%	$176,660,326
GTK	Gentrack Group Ltd	10.800	2%	$1,163,396,477
OEC	Orbital Corp Limited	0.090	2%	$14,830,175
CCR	Credit Clear	0.235	2%	$99,792,431
PPS	Praemium Limited	0.745	2%	$355,897,805
XYZ	Block Inc	92.300	2%	$5,191,834,942
QHL	Quickstep Holdings	0.575	2%	$41,242,573
DTL	Data#3 Limited	7.280	2%	$1,127,732,664
CPU	Computershare Ltd	40.720	1%	$23,804,505,004
NXT	Nextdc Limited	11.830	1%	$7,576,122,345
DSE	Dropsuite Ltd	5.810	1%	$412,442,372

WhiteHawk (ASX:WHK)

Cybersecurity firm Whitehawk’s shares soared after landing a major cyber deal in the US, teaming up with Knexus Research and a few big-name players on a government-wide contract worth up to US$920 million over 10 years.

WHK is the only cyber partner on the team, which beat out 22 other groups to win the deal.

The contract doesn’t bring in cash straight away, it's task-based, so the dollars flow as the work gets handed out. But thanks to a White House order pushing more federal spending into deals like this, WhiteHawk reckons there’s big recurring revenue potential ahead.

WHK’s role will be to roll out cyber risk tools to help US agencies fight fraud and foreign threats.

Harvest Technology Group (ASX:HTG)

During the month of April, Harvest listed on the Frankfurt Stock Exchange, giving it a foot in the door to Europe’s massive capital markets without issuing new shares.

The move is aimed at building visibility and drawing in more European investors across key sectors like defence, telco, aerospace, and maritime, where demand for its low-bandwidth, secure video tech is on the rise.

The listing lines up with HTG’s growing customer base in Europe, where its Nodestream platform is already making rapid traction.

HTG is now planning a roadshow across the continent in June, catching up with customers and pitching to high-level investors.

No dilution, low cost, and a shot at global growth, HTG reckons this move is right on target.

Urbanise (ASX:UBN)

During the month, Urbanise reported its performance year for FY24.

The company tightened its focus and set itself up for longer-term growth.

It brought in a new Chairman, Darc Rasmussen, who saw straight away that Urbanise could lead the way in strata and facilities management software.

The company is now running hard on a three-part game plan: grow its customer base, deliver more value through smart features, and connect clients with service providers directly through its platform.

Over the year, it locked in $1.04 million in new recurring revenue, added clever new tools like predictive analytics, and slashed operating costs by 14% thanks to better cash flow and fewer bespoke projects.

The plan is to hit cash flow sustainability by FY25, and the company said it’s laser-focused on making it happen.

DroneShield (ASX:DRO)

Droneshield rose after locking in five fresh defence contracts worth $32.2 million from a military customer in the Asia Pacific during April, via a big-name global reseller.

The company will deliver counterdrone gear through Q2 and Q3 next year, with payments expected during that time.

The new deals follow $12.3 million in previous orders from the same buyer, showing demand is ramping up as militaries move from trial runs to full rollouts.

With gear that tackles next-gen drone threats, DroneShield reckons it’s in the box seat as interest picks up across the region.

Elsight (ASX:ELS)

Elsight is entering a big new phase, locking in a $4.25 million deal with a European defence giant to deliver its technology over four months.

CEO Yoav Amitai reckons it will not only give revenue a nice lift but also put Elsight firmly on the radar in the booming defence space.

With war tensions driving up defence budgets across Europe and the US, Yoav says Elsight’s drone comms gear is landing in the right place at the right time, giving unmanned systems stronger, smarter control.

And even with global tariff noise around, the company said it’s staying steady thanks to a spread-out manufacturing setup.

Yoav said this recent deal in Europe just the beginning.

ASX tech losers in April

Code	Name	Price	Month % Change	Market Cap
FBR	FBR Ltd	0.006	-40%	$33,813,791
ATV	Activeportgroupltd	0.009	-36%	$6,164,794
NVQ	Noviqtech Limited	0.031	-34%	$7,797,633
EPX	Ept Global Limited	0.026	-33%	$17,127,137
LNU	Linius Tech Limited	0.001	-33%	$6,151,216
VR1	Vection Technologies	0.018	-33%	$27,549,994
IFG	Infocusgroup Hldltd	0.007	-30%	$1,754,886
3DP	Pointerra Limited	0.060	-29%	$48,304,608
SPX	Spenda Limited	0.005	-29%	$23,076,077
CT1	Constellation Tech	0.002	-25%	$2,212,101
PIL	Peppermint Inv Ltd	0.003	-25%	$6,712,918
NXL	Nuix Limited	2.430	-24%	$803,681,994
GTI	Gratifii	0.075	-22%	$25,409,205
EXT	Excite Technology	0.011	-21%	$20,049,061
SP3	Specturltd	0.011	-21%	$3,389,651
CGO	CPT Global Limited	0.050	-21%	$2,094,868
SEN	Senetas Corporation	0.019	-20%	$30,636,353
IOD	Iodm Limited	0.145	-19%	$89,401,807
ROC	Rocketboots	0.081	-19%	$11,795,694
FL1	First Lithium Ltd	0.065	-19%	$5,177,484
OPL	Opyl Limited	0.026	-19%	$5,017,176
RDY	Readytech Holdings	2.100	-19%	$256,494,158
PRO	Prophecy Internation	0.425	-18%	$31,343,297
SLX	Silex Systems	3.090	-18%	$735,737,417
HCL	Highcom Ltd	0.180	-16%	$18,482,881
CYB	Aucyber Limited	0.078	-16%	$16,332,942
ASV	Assetvisonco	0.032	-16%	$23,659,570
XF1	Xref Limited	0.115	-15%	$25,310,323
8CO	8Common Limited	0.018	-14%	$4,033,708
EVS	Envirosuite Ltd	0.072	-14%	$104,306,666
W2V	Way2Vatltd	0.006	-14%	$5,604,001
WBT	Weebit Nano Ltd	1.765	-14%	$366,935,969
DTI	DTI Group Ltd	0.007	-13%	$3,139,860
EOS	Electro Optic Sys.	1.225	-13%	$236,366,321
XPN	Xpon Technologies	0.007	-13%	$2,537,090
LIS	Lisenergylimited	0.110	-12%	$70,422,025
OLL	Openlearning	0.015	-12%	$7,240,120
AXE	Archer Materials	0.265	-12%	$67,534,458
CXZ	Connexion Mobility	0.027	-11%	$22,174,299
NVX	Novonix Limited	0.425	-11%	$270,323,663
1CG	One Click Group Ltd	0.008	-11%	$9,423,039
BLG	Bluglass Limited	0.016	-11%	$29,448,965
HYD	Hydrix Limited	0.016	-11%	$4,364,302
SPA	Spacetalk Ltd	0.205	-11%	$14,926,476
VNL	Vinyl Group Ltd	0.094	-10%	$118,350,130
BEO	Beonic Ltd	0.180	-10%	$12,754,981
AI1	Adisyn Ltd	0.050	-9%	$36,116,280
RKT	Rocketdna Ltd.	0.010	-9%	$9,155,232
RWL	Rubicon Water	0.255	-9%	$61,377,250
COS	Cosol Limited	0.730	-9%	$132,851,821
XRG	Xreality Group Ltd	0.032	-9%	$18,271,433
IFM	Infomedia Ltd	1.240	-8%	$469,240,416
SOR	Strategic Elements	0.034	-8%	$15,939,487
DUG	DUG Tech	1.025	-8%	$138,024,041
NOR	Norwood Systems Ltd.	0.024	-8%	$11,750,684
ODA	Orcoda Limited	0.074	-8%	$13,876,052
JCS	Jcurve Solutions	0.025	-7%	$8,258,586
5GN	5G Networks Limited	0.130	-7%	$38,744,410
NVU	Nanoveu Limited	0.039	-7%	$28,954,779
QOR	Qoria Limited	0.395	-7%	$514,126,184
FLX	Felix Group	0.200	-7%	$40,899,943
IRI	Integrated Research	0.410	-7%	$72,714,610
MX1	Micro-X Limited	0.058	-6%	$38,522,051
SMN	Structural Monitor.	0.390	-6%	$60,178,969
ACE	Acusensus Limited	1.050	-5%	$147,027,155
PPK	PPK Group Limited	0.305	-5%	$27,697,812
AD8	Audinate Group Ltd	6.140	-5%	$511,815,627
ERD	Eroad Limited	0.840	-4%	$157,424,931
RUL	Rpmglobal Hldgs Ltd	2.750	-4%	$610,623,648
SMP	Smartpay Holdings	0.770	-4%	$186,296,467
NOV	Novatti Group Ltd	0.027	-4%	$14,657,783
4DS	4Ds Memory Limited	0.030	-3%	$60,069,707
TZL	TZ Limited	0.062	-3%	$17,398,074
RKN	Reckon Limited	0.480	-3%	$54,381,519
JAN	Janison Edu Group	0.165	-3%	$42,881,562
DXN	DXN Limited	0.034	-3%	$10,155,924
IKE	Ikegps Group Ltd	0.715	-3%	$115,159,825
PHX	Pharmx Technologies	0.077	-3%	$46,085,023
BVS	Bravura Solution Ltd	2.190	-2%	$981,895,264
IRE	IRESS Limited	7.950	-2%	$1,484,976,318
CDA	Codan Limited	15.750	-2%	$2,859,740,762
EML	EML Payments Ltd	0.975	-2%	$372,343,316
VGL	Vista Group Int Ltd	3.280	-1%	$783,376,770

This story does not constitute financial product advice. You should consider obtaining independent advice before making any financial decision.

At Stockhead we tell it like it is. While Harvest Technology Group is a Stockhead advertiser, it did not sponsor this article. 

Originally published as ASX tech April winners: Sector pulls off market gymnastics to land on its feet