New Risk • Jun 26
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 30% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (8.1% average weekly change). Shareholders have been substantially diluted in the past year (30% increase in shares outstanding). Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (NZ$449k net loss in 3 years). Market cap is less than US$100m (NZ$41.6m market cap, or US$23.5m). New Risk • Jun 18
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of New Zealander stocks, typically moving 8.0% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (8.0% average weekly change). Earnings are forecast to decline by an average of 8.9% per year for the foreseeable future. Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (NZ$3.0m net loss in 3 years). Market cap is less than US$100m (NZ$32.1m market cap, or US$18.5m). Announcement • May 28
AoFrio Limited has filed a Follow-on Equity Offering in the amount of NZD 4.993668 million. AoFrio Limited has filed a Follow-on Equity Offering in the amount of NZD 4.993668 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 71,338,121
Price\Range: NZD 0.07
Transaction Features: Rights Offering New Risk • May 12
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of New Zealander stocks, typically moving 6.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-NZ$5.3m free cash flow). Earnings are forecast to decline by an average of 9.2% per year for the foreseeable future. Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (NZ$2.9m net loss in 3 years). Share price has been volatile over the past 3 months (6.1% average weekly change). Market cap is less than US$100m (NZ$33.9m market cap, or US$20.2m). Announcement • Apr 28
AoFrio Limited, Annual General Meeting, May 27, 2026 AoFrio Limited, Annual General Meeting, May 27, 2026. Location: at aofrios registered address - 78 apollo drive, rosedale, auckland New Zealand Reported Earnings • Mar 02
Full year 2025 earnings released: NZ$0.005 loss per share (vs NZ$0.004 loss in FY 2024) Full year 2025 results: NZ$0.005 loss per share (further deteriorated from NZ$0.004 loss in FY 2024). Revenue: NZ$83.2m (up 4.4% from FY 2024). Net loss: NZ$2.09m (loss widened 11% from FY 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 68 percentage points per year, which is a significant difference in performance. New Risk • Feb 24
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-NZ$4.4m free cash flow). Earnings have declined by 23% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Share price has been volatile over the past 3 months (5.5% average weekly change). Market cap is less than US$100m (NZ$39.5m market cap, or US$23.5m). Announcement • Sep 01
AoFrio Limited Provides Earnings Guidance for the Six Months Ended December 31, 2025 AoFrio Limited provided earnings guidance for the six months ended December 31, 2025. Revenue in the six months ended 31 December 2025 (second half of 2025) is expected to be level with first half of 2025. The company expected revenue to be NZD 43 million. New Risk • Aug 19
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of New Zealander stocks, typically moving 6.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-NZ$4.4m free cash flow). Earnings have declined by 23% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.2% average weekly change). Market cap is less than US$100m (NZ$34.7m market cap, or US$20.6m). Reported Earnings • Aug 13
First half 2025 earnings released: NZ$0.004 loss per share (vs NZ$0.002 loss in 1H 2024) First half 2025 results: NZ$0.004 loss per share (further deteriorated from NZ$0.002 loss in 1H 2024). Revenue: NZ$43.0m (up 12% from 1H 2024). Net loss: NZ$1.77m (loss widened 70% from 1H 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 74 percentage points per year, which is a significant difference in performance. New Risk • Aug 09
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -NZ$4.4m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-NZ$4.4m free cash flow). Earnings have declined by 23% per year over the past 5 years. Minor Risk Market cap is less than US$100m (NZ$38.4m market cap, or US$22.9m). Announcement • Apr 10
AoFrio Limited, Annual General Meeting, May 28, 2025 AoFrio Limited, Annual General Meeting, May 28, 2025. Location: auckland New Zealand Reported Earnings • Feb 28
Full year 2024 earnings released: NZ$0.004 loss per share (vs NZ$0.008 loss in FY 2023) Full year 2024 results: NZ$0.004 loss per share (improved from NZ$0.008 loss in FY 2023). Revenue: NZ$79.7m (up 20% from FY 2023). Net loss: NZ$1.88m (loss narrowed 47% from FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 84 percentage points per year, which is a significant difference in performance. Announcement • Feb 21
AoFrio Limited to Report Fiscal Year 2024 Results on Feb 27, 2025 AoFrio Limited announced that they will report fiscal year 2024 results Pre-Market on Feb 27, 2025 New Risk • Feb 18
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Share price has been volatile over the past 3 months (9.4% average weekly change). Market cap is less than US$100m (NZ$42.3m market cap, or US$24.3m). Reported Earnings • Aug 06
First half 2024 earnings released: NZ$0.002 loss per share (vs NZ$0.006 loss in 1H 2023) First half 2024 results: NZ$0.002 loss per share (improved from NZ$0.006 loss in 1H 2023). Revenue: NZ$38.4m (up 27% from 1H 2023). Net loss: NZ$1.04m (loss narrowed 61% from 1H 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 49 percentage points per year, which is a significant difference in performance. Announcement • Jul 31
AoFrio Limited to Report First Half, 2024 Results on Aug 02, 2024 AoFrio Limited announced that they will report first half, 2024 results on Aug 02, 2024 Buy Or Sell Opportunity • Jul 15
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 3.8% to NZ$0.054. The fair value is estimated to be NZ$0.044, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Meanwhile, the company became loss making. Announcement • Apr 24
AoFrio Limited, Annual General Meeting, May 29, 2024 AoFrio Limited, Annual General Meeting, May 29, 2024. Buy Or Sell Opportunity • Apr 18
Now 22% overvalued Over the last 90 days, the stock has fallen 40% to NZ$0.052. The fair value is estimated to be NZ$0.043, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Mar 02
Full year 2023 earnings released: NZ$0.008 loss per share (vs NZ$0.008 profit in FY 2022) Full year 2023 results: NZ$0.008 loss per share (down from NZ$0.008 profit in FY 2022). Revenue: NZ$66.6m (down 11% from FY 2022). Net loss: NZ$3.53m (down 208% from profit in FY 2022). Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Announcement • Feb 23
AoFrio Limited to Report Fiscal Year 2023 Results on Feb 29, 2024 AoFrio Limited announced that they will report fiscal year 2023 results Pre-Market on Feb 29, 2024 Board Change • Nov 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 2 highly experienced directors. Director Greg Allen was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. New Risk • Oct 31
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of New Zealander stocks, typically moving 7.5% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (7.5% average weekly change). High level of non-cash earnings (56% accrual ratio). Minor Risk Market cap is less than US$100m (NZ$31.1m market cap, or US$18.2m). Announcement • Oct 27
AoFrio Limited Provides Earnings Guidance for Fiscal Year 2023 AoFrio Limited provided earnings guidance for fiscal year 2023. The company expects fiscal year 2023 revenue is now expected to be around $65.0 million. Reported Earnings • Aug 25
First half 2023 earnings released: NZ$0.006 loss per share (vs NZ$0.004 loss in 1H 2022) First half 2023 results: NZ$0.006 loss per share (further deteriorated from NZ$0.004 loss in 1H 2022). Revenue: NZ$30.1m (down 5.6% from 1H 2022). Net loss: NZ$2.67m (loss widened 43% from 1H 2022). Over the last 3 years on average, earnings per share has increased by 77% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Announcement • Aug 25
AoFrio Limited Provides Earnings Guidance for Fiscal Year 2023 AoFrio Limited provided earnings guidance for fiscal year 2023. The company expects fiscal year 2023 revenue to be similar to fiscal year 2022. Announcement • May 26
AoFrio Limited Revises Revenue Guidance for Fiscal Year 2023 AoFrio Limited revised revenue guidance for the fiscal year 2023. The now revising its revenue guidance for full year 2023 to a range of $80 million to $90 million which is a growth rate of around 14% at the mid-point of the range. This revision is due to a reduction in predominantly lower margin motors sales, whereas higher margin IoT business remains strong. Reported Earnings • Mar 05
Full year 2022 earnings released: EPS: NZ$0.008 (vs NZ$0.013 in FY 2021) Full year 2022 results: EPS: NZ$0.008 (down from NZ$0.013 in FY 2021). Revenue: NZ$74.3m (up 16% from FY 2021). Net income: NZ$3.26m (down 40% from FY 2021). Profit margin: 4.4% (down from 8.4% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 83% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Announcement • Jan 20
AoFrio Limited Provides Earnings Guidance for the Year 2023 AoFrio Limited provided earnings guidance for the year 2023. The business is forecasting revenue growth exceeding 30% in fiscal year 2023, trending AoFrio towards becoming a NZD 100 million revenue company. Announcement • Nov 01
AoFrio Limited Provides Revenue Guidance for the Fiscal Year 2022 AoFrio Limited provided revenue guidance for the fiscal year 2022. Revenue is expected to be around $83 million for the year, a 30% increase compared to the 2021 year. Reported Earnings • Aug 27
First half 2022 earnings released: NZ$0.004 loss per share (vs NZ$0.001 profit in 1H 2021) First half 2022 results: NZ$0.004 loss per share (down from NZ$0.001 profit in 1H 2021). Revenue: NZ$31.9m (up 4.4% from 1H 2021). Net loss: NZ$1.87m (down 406% from profit in 1H 2021). Over the last 3 years on average, earnings per share has increased by 72% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Announcement • Jul 26
Wellington Drive Technologies Limited Announces Resignation of David Howell as Chief Technology Officer, Effective August 5, 2022 Wellington Drive Technologies Limited announced a further change to its executive team. After twenty-three years with the business, Chief Technology Officer David Howell has decided it is time for a change and has resigned effective 5th August 2022. Announcement • Apr 20
Wellington Drive Technologies Limited, Annual General Meeting, May 25, 2022 Wellington Drive Technologies Limited, Annual General Meeting, May 25, 2022, at 14:30 NZST - New Zealand Standard. Location: The Maritime Room, Princes Wharf Auckland New Zealand Agenda: To consider Re-election of John Scott; to consider Re-election of Keith Oliver; to consider Approval of Directors Fees; to consider Auditor's Remuneration; and to consider such other business as may lawfully be raised at the meeting. Reported Earnings • Feb 28
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: NZ$0.013 (up from NZ$0.005 loss in FY 2020). Revenue: NZ$64.2m (up 74% from FY 2020). Net income: NZ$5.43m (up NZ$7.58m from FY 2020). Profit margin: 8.4% (up from net loss in FY 2020). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 55% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Reported Earnings • Feb 27
Full year 2020 earnings released: NZ$0.005 loss per share (vs NZ$0.002 profit in FY 2019) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2020 results: Revenue: NZ$36.9m (down 40% from FY 2019). Net loss: NZ$2.15m (down NZ$2.60m from profit in FY 2019). Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings. Announcement • Feb 24
Wellington Drive Technologies Limited Revises Earnings Guidance for the Full Year 2021 Wellington Drive Technologies Limited revised earnings guidance for the full year 2021. The company's full-year 2021 revenue guidance was previously in a range of USD 37 million to USD 42 million with a modest pre-tax loss. This guidance is now being raised to full-year revenue between USD 40 million and USD 43 million and a modest net profit. Recent Insider Transactions • Nov 19
Non-Executive Chairman recently bought NZ$146k worth of stock On the 16th of November, John McMahon bought around 3m shares on-market at roughly NZ$0.058 per share. This was the largest purchase by an insider in the last 3 months. This was John's only on-market trade for the last 12 months. Announcement • Oct 29
Wellington Drive Technologies Signs Commercial Agreement with Imbera for Supply of IoT Hardware and Data Services Wellington Drive Technologies (Wellington) announced that it has signed an agreement with Imbera Cooling (Imbera) for the supply of custom connected hardware and data services to support Imbera's current and future requirements. Wellington will be the exclusive supplier of connected controllers, software and data services to Imbera. Wellington will provide versions of its cloud connected hardware bundled with the associated IoT application software (apps) and data services that have been customised to meet Imbera requirements. Wellington and Imbera will collaborate on products and services to support a range of Imbera customers with connected refrigeration solutions. The agreement includes the following key terms: a contract term of three years, renewable based on competitive assurances; providing technology solutions including software apps and platform customisation; ability to sell IoT products outside of the partnership and for Imbera to continue selected internal projects, and adherence to existing Wellington and Imbera customer agreements; Wellington to make available new product developments and provide support services to a defined level based on sales volumes. Initial sales of the custom controller and bundled data services are expected to start in the first half of 2021, subject to the completion of a customised connected controller product launch (planned for fourth quarter 2020) and the commencement of Imbera customer agreements. The financial effects of the Imbera agreement will not emerge until 2021, and are then expected to be materially positive, notwithstanding the continued uncertainty on overall customer demand as a result of COVID related restrictions. Announcement • Jul 22
Wellington Drive Technologies Limited has completed a Follow-on Equity Offering in the amount of NZD 5.398901 million. Wellington Drive Technologies Limited has completed a Follow-on Equity Offering in the amount of NZD 5.398901 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 107,978,028
Price\Range: NZD 0.05
Transaction Features: Rights Offering