- AST released Q4 2022 results with revenue of VND216bn (+674% YoY; USD9.3mn) and NPAT-MI of VND18bn (USD767,000) vs Q4 2021’s loss of VND16bn (USD670,000).

- In Q4 2022, AST’s top line increased 17% QoQ while its net profit jumped 40% QoQ to VND18bn (USD767,000) compared to VND13bn (USD550,000) in Q3 2022. 

- In 2022, AST’s revenue increased to VND604bn (USD26.0mn; +292% YoY), completing 117% of our full-year forecast. AST’s net profit was VND23bn in 2022 (USD994,000) vs a loss of VND118bn (USD5.1mn) in 2021. The bottom line in 2022 is equivalent to 232% of our full-year profit forecast of VND10bn (USD428,000).