Tech Wrap: Bravura jumps on guidance, BP8 tumbles on disclosure timing

• BPH Global (ASX:BP8) sank after clarifying the timing of its Indonesia MoU disclosure
• Bravura Solutions (ASX:BVS) surged on stronger guidance and a special dividend, then gave back part of the jump
• Betmakers (ASX:BET) slid as M&A speculation met an ASX price query response
• CAR Group (ASX:CAR) delivered solid growth and dividends, but the post-result pop faded
• Deal-making stayed active across small caps, led by Xamble (ASX:XGL) and StepChange (ASX:STH)

BPH Global (ASX:BP8) led the week’s extremes with a steep fall of -33.33%, while Bravura Solutions (ASX:BVS) jumped 15.56% and Betmakers Technology Group (ASX:BET) slid -16.67%. Investors were reacting to very different triggers: disclosure timing at BP8, upgraded numbers and dividends at BVS, and takeover chatter turning into uncertainty at BET.

Results season: strong numbers, but some rallies didn’t stick

CAR Group (ASX:CAR) reported a strong half, with revenue up 13% in constant currency and proforma EBITDA up 12%, plus a 10% lift to its interim dividend (42.5 cents, 30% franked). Investors liked the business update, but the share price didn’t keep the initial excitement. After reopening higher, the stock later traded lower in the following sessions, which is what it looks like when early buyers get met by sellers locking in gains. Bravura Solutions (ASX:BVS) was the clearest “numbers plus cash back” story. Underlying revenue rose 9.8% to $140 million and CEBITDA more than doubled to $34.2 million. It also declared interim and special dividends totalling 10.23 cents per share, and lifted FY26 guidance to $280, $285 million revenue and $69, $73 million cash EBITDA. Even so, part of the post-open jump faded. That usually means some investors were happy to sell into the spike once the news was public.

M&A and stakes: growth bought, not just built

Xamble Group (ASX:XGL) rose 7.69% after announcing it will buy 55.6% of YouthsToday for $330,000. The pitch was simple: a much bigger creator network (to 19,233), more countries (3 to 7 in Southeast Asia), and more agency links (19 to 65). The risk is also simple: combining teams and sales plans can take longer than expected, and small companies can run out of cash if growth costs rise. StepChange Holdings (ASX:STH) added 9.09% after reporting 19% organic revenue growth in HY26 and completing its BroadReach acquisition. Investors tend to pay attention when a company shows both: (1) growth without acquisitions, and (2) a deal that expands its customer base. StepChange also pointed to $5.5 million cash, which matters because it helps fund integration and new hires. Connexion Mobility (ASX:CXZ) gained 4.00% on two reinforcing updates: a GM Canada rollout for its OnTRAC platform (national launch scheduled February 2026) and a half-year result showing revenue up 7% and profit after tax up 5%. It also bought 27.28% of Covertrue Group. Minority stakes can be a cheaper way to learn a new business, but they can also be harder to control.

AI and “real product work”: from marketplaces to silicon

Several companies tied their updates to AI, but investors treated them differently depending on how close they are to real revenue. Gratifii (ASX:GTI) fell -5.56% even after announcing a five-year partnership with Marketplacer to build an AI-driven rewards marketplace. The plan sounds scalable, 14,000+ sellers and access to 20+ million accounts, but the market often waits for proof in the numbers, like signed customers or a clear revenue lift. At the hardware end, BrainChip (ASX:BRN) slipped -3.57% after committing US$2.5 million to develop next-gen AKD2500 silicon on TSMC 12nm, with a prototype targeted for Q3 2026. Building chips is expensive and slow. The company also said there is no guarantee of production volumes or commercial orders yet, which can worry investors who want near-term sales.

When news creates doubt: disclosure and leadership overhangs

BPH Global (ASX:BP8) said its MoU with Indonesia’s BRIN was signed and exchanged after market close on 5 February 2026, then disclosed on 6 February after formal confirmation. Even if a company says it followed the rules, traders can still sell if they think the timing creates confusion or distrust. A drop of this size can also snowball because some holders sell simply to stop further losses. EROAD (ASX:ERD) dropped -13.41% after CEO Mark Heine said he will step down in June 2026. Leadership changes don’t always mean trouble, but investors often worry about what happens next: will the replacement keep the strategy, and will growth slow during the handover? Betmakers (ASX:BET) fell after responding to an ASX price query linked to media reports about Tabcorp M&A interest. When a stock jumps on rumours, any “nothing further to add” style update can trigger selling. Some investors buy the rumour and then sell as soon as the story becomes less certain.

Bottom Line?

Next week’s tone is likely to stay tied to hard dates and deliverables: GM Canada’s national launch window for Connexion Mobility (ASX:CXZ) in February 2026, the CEO transition timeline at EROAD (ASX:ERD) through to June 2026, and Bravura’s (ASX:BVS) ability to back its upgraded FY26 guidance with second-half delivery.

Questions in the middle?

• Will Bravura Solutions (ASX:BVS) turn its upgraded guidance into steady second-half results, or will project timing slip again?
• Can CAR Group (ASX:CAR) show that its AI spend lifts customer outcomes fast enough to justify the selling after the gap up?
• After BP8’s disclosure clarification, what specific milestone comes next that investors can verify without relying on headline claims?