ASX Quarterly Tech Wrap: Live Verdure secures AI stake, Adisyn grabs semiconductor tech, 4DS advances ReRAM

Tech small caps enjoyed strong interest in the December quarter as they pivoted to AI and semiconductor technology.

Pic: Getty Images

• Live Verdure acquires controlling interest in artificial intelligence platform Decidr.ai

• Adisyn completes acquisition of 2D Generation after entering negotiations in Q2 FY25 

• 4DS Memory makes progress in ReRam Technology during the quarter  

It’s the quarterly season again and that means the familiar month-end rush for ASX small caps to update investors on their comings and goings.

Here, we wrap up report highlights ASX tech small caps who filed their activity and 4C reports last week.

Live Verdure (ASX:LV1)

• Live Verdure acquires controlling interest in Decidr.ai, increasing its ownership to 51%
• Edible Beauty achieved its strongest quarter to date, driven by Decidr AI-powered sales agent AVA
• During the quarter Live Verdure raised capital of $6.92m from the conversion of unlisted options

It was a big quarter for Live Verdure which increased its holding by 6% to a controlling interest of 51% in the artificial intelligence platform Decidr.ai.

The acquisition was facilitated through a $13.2 million interest-free loan repayable over 36 months. The increased stake builds on key milestones and partnership terms established in a memorandum of understanding, which was announced to the market in September 2024.

Live Verdure said following its discovery day in late October 2024, Decidr secured new multi-year, recurring revenue contracts in Australia and the US.

The additional prospect pipeline captured from and after the Discovery Day continue to build, with LV1 targeting triple-digit customer growth in Q3 FY25.  Partnership products with CareerOne and Elmo are also targeted to launch in early Q4 FY25.

Live Verdure said Edible Beauty achieved its strongest quarter to date, driven by Decidr's AI-powered sales agent AVA.

The business saw 64% growth on pcp in Q2 FY25 in ecommerce sales and 143% on the previous quarter, supported by a focus on new customer acquisition and higher average order value (AOV). New customers surged 232% on pcp and 67% on the previous quarter.

Edible Beauty profitability improved, with gross profit rising to 54%, supported by a higher AOV and optimised product mix.

On the corporate front, David Brudenell transitioned from non-executive to executive chairman to enable increased focus and resources to accelerate the group's growth.

The company said it continued to optimise e-commerce and product positioning in the 13 Seeds business with a focus on cost reduction across all operations.

During the quarter Live Verdure raised capital of $6.92m from the conversion of unlisted options, introducing new strategic cornerstone investors along with further commitments from existing, supportive shareholders.

Live Verdure ended the quarter with $4.62m in the bank.

Adisyn (ASX:AI1)

• Adisyn completes acquisition of 2D Generation after entering negotiations in Q2 FY25 
• Company progressed the divestment of its Miner Hosting business
• Two non-executive directors appointed including 2DG founder and CEO Arye Kohavi

During Q2 FY25, the ambitious player in the semiconductor industry entered into formal negotiations to acquire 100% of semiconductor IP business, 2D Generation, completing the acquisition in January.

Adisyn will leverage 2D Generation’s semiconductor solution to generate opportunities in its target markets including defence applications, data centres and cybersecurity. Its chips use a layer of graphene to boost chip performance, with its heat dissipating qualities enabling the chips to cool far more efficiently than previously existing models.

For the quarter, Adisyn reported cash receipts of ~$1.039 million with total revenue of $942,000 Headline operational burn of $820,000 included ~$110,000 in one-off costs related to the acquisition of 2DG and exit of its lease in Bibra Lake, Western Australia.

Adisyn progressed the divestment of its Miner Hosting business, which it said remained loss making during the quarter.

During the quarter two non-executive directors were appointed including 2DG founder and CEO Arye Kohavi, an entrepreneur who also founded and led Water-Gen, which develops water-from-air and air dehumidification technologies.

Kevin Crofton also joined the board and is a globally recognised leader in the semiconductor industry with more than 30 years of experience in management and leadership positions with multinational technology companies.

Chief operating officer Paul Arch resigned in December 2024 to pursue other professional interests. In the broader scheme of things, Adisyn's shift into the semiconductor space has been well-received, with its share price up 250% since early October.

Post period-end the company received binding firm commitments for a $10 million heavily oversubscribed placement to accelerate development of graphene-enhanced semiconductor technologies, strengthen commercial initiatives, and support working capital needed.

4DS Memory (ASX:4DS) 

• 4DS Memory makes progress in ReRAM technology during quarter
• In December 4DS entered a design agreement with Infineon technologies LLC
• Post quarter the company raised $6 million in a strongly supported placement 

The semiconductor technology company said it had made advances its ReRAM technology during the quarter with progress in the Fifth and Sixth Platform Lots.

The company said the Fifth Platform Lot with 60nm memory cells was shipped from manufacturing collaborator imec to its facilities in Fremont in the US in October, where successful testing was undertaken.

4Ds said key areas of optimisation were identified and shared with the imec engineering team working on the Sixth Platform Lot 20nm memory cell array.

The company said new learnings and optimisations from the Fifth Platform Lot were critically important for the successful processing of 4DS’s first 20nm memory cell array in the Sixth Platform Lot, expected to be manufactured and analysed in H1 CY25.

In December 4DS entered a design agreement with Infineon technologies LLC. Infineon will assign resources to design a custom ReRAM memory test chip for 4DS, based on 4DS requirements.

The initial scope of work under the Design Agreement will be over 15 months for a total of US$4.5m payable by 4DS with an upfront payment of US$1.5m and the balance payable monthly at varying monthly amounts.

Post quarter, 4DS announced it had received binding commitments from institutional and high net worth investors for a strongly supported placement of $6m. The placement will be followed by a share purchase plan of $2 million.

Fatfish Group (ASX:FFG)

• Fatfish advances AI Gaming Pte Ltd during the quarter with two new first party games
• Blockchain mining recommences at Minerium following renewed interest in digital assets
• During the quarter, Fatfish secured strong investor support in a $1.5 million placement

The tech/gaming venture firm said during the quarter has been actively involved in advancing AI Gaming Pte Ltd (AIGC), which Fatfish has a 49% interest in.

AIGC has now launched two new first party games, as well as signing several significant contracts for third party game development work.

Fatfish said while operations were scaled down in 2019 at Minerium, a blockchain mining technology firm where it holds a 49% interest due to adverse conditions, renewed interest in digital assets has shifted its focus to blue-chip assets and Dogecoin, which has a market cap exceeding US$45 billion.

The company said the Hibur.io social gaming platform and Telegram-based gaming service were now live, with the platform repurposed for white-label opportunities. Fatfish is actively marketing it to strategic partners to expand its reach and capabilities.

During the quarter, Fatfish secured strong investor support in a $1.5 million placement. Funds were allocated to blockchain mining, AIGC, new social gaming projects, and other investee company initiatives.

Fatfish said following launch of the Hibur.io social gaming platform and a Telegram-based social gaming service,  it was also repurposing Hibur.io’s technology platform to offer white-label service opportunities in collaboration with strategic partners, expanding the platform's reach and enhancing its capabilities.

Fatfish reported total cash receipts of $760,000, an increase from $630,000 in the previous quarter, driven by more robust and disciplined collection efforts.

At Stockhead, we tell it like it is. While Adisyn,  Live Verdure and Fatfish Group are Stockhead advertisers, they did not sponsor this article.

Originally published as ASX Quarterly Tech Wrap: Live Verdure secures AI stake, Adisyn grabs semiconductor tech, 4DS advances ReRAM