Small Cap stocks

Spheria Emerging Companies operates in listed investment exposure to Australian small and micro-cap companies. TheBusinessmodel determines howRevenuebecomes cash available for operating expenditure, investment,Debtservice andShareholderpayments. The relevant measures differ by sector, so statutory profit should be considered with cash flow,Capital Expenditureand any company-specificEarningsmeasure.

Each company is assessed on its own reporting calendar andBusinessmodel. The discussion below retains company-reported financial measures and announced plans while separating those facts from assumptions about future outcomes.

Perth-based iCetana (ASX:ICE) has built a niche business around a difficult security problem: how to meaningfully monitor thousands of camera feeds when human operators cannot watch them all at once. Its AI-driven video-analytics software now runs across more than 70 sites and over 19,000 …

Freelancer Limited (ASX:FLN), the Sydney-founded operator of one of the world's largest online freelancing marketplaces, delivered a half-year result in July 2026 that highlighted two very different trends within the group.

Tinybeans Group (ASX:TNY) has confirmed Tracy Cho as its permanent chief executive, capping a five-month interim tenure that coincided with the family-technology company reporting its first EBITDA-positive quarter.

RAS Technology Holdings (ASX:RTH) has secured a new four-year agreement with Tabcorp worth approximately $9.1 million, extending one of its most important commercial relationships through to mid-2030.

JCurve Solutions (ASX:JCS), the cloud enterprise resource planning software provider, closed FY2026 with a notable improvement in quarterly operating profit alongside a cash position that more than doubled year-on-year.