While the stock market buzz around blockchain technology has well and truly subsided, a handful of ASX-listed companies continue to develop and market blockchain solutions. But recent reporting shows revenue is hard to come by.

Tymlez Group Limited (ASX:TYM)

There was a significant build-up to the ASX-listing of Tymlez Group Limited in December last year and early investors were rewarded handsomely.

Shares in the enterprises blockchain solutions developer increased by more than 150% in the following weeks, peaking at a high of 36 cents in February, but it’s all been down-hill from there for the company’s share price. Shares last traded at around 6 cents at the time of writing.

Despite an impressive client base which includes auditor Grant Thornton and the Netherlands Government, the company is losing cash.

In its latest Quarterly Activities and Cashflow Report, Tymlez reported total receipts from customers of $97,000 for the quarter to June 30, 2019.

In the same period Tymlez reported operating activity costs of $857,000.

“During the Quarter, there was extensive work by the sales and technical team with Urban Farming Partners Holding B.V. (Urban Farming Partners), a Singapore and Dutch Government consortium seeking to promote food security via sustainable farming practices in the urban areas,” stated commentary in the report.

Yojee Limited (ASX:YOJ)

During the short-lived ASX blockchain stocks rally in late 2017, Yojee shares hit a high of 32 cents. At the time of writing, the company’s shares last traded at just above 7 cents.

Yojee has been integrating blockchain technology to logistics management applications used in the transport industry.

For the quarter ending June 30, 2019, Yojee reported receipts from customers and other income of $192,000.

However, the cost of operating activities far outweighed revenue. Yojee was in the red to tune of $1,250,000 for the quarter.

The company did note the quarterly revenue figure was a record.

“Yojee recorded cash receipts of A$192,000 (up from $188,000), the highest for any quarter to date, with onboarding and recurring revenue from new major clients signed in the quarter now commencing to flow in the current quarter,” the report stated.

Security Matters Limited (ASX:SMX)

One of the better ASX-listed blockchain stocks for investors in recent times has been Security Matters Limited.

The company develops blockchain solutions to protect brands and the integrity of supply chains. It’s core technology was developed by the Israeli Government before the company listed on the ASX in October 2018.

The company’s share price has risen by around 40% since listing, however for the quarter ending June 30,2019, the company could only show receipts from customers to the value of $22,000.

The company did however report a ‘major technology milestone’ during the period.

“In a major technological achievement, SMX successfully created and delivered 500,000 library codes during the quarter, 10 times that outlined in its IPO prospectus,” the company said.

“A library code is the ‘barcode’ that contains customer and product specific information and enables the transfer of information onto the blockchain. Library codes are also used and adapted to provide bespoke authentication solutions to customers for their products.

“The IPO prospectus, released in October 2018 outlined SMX’s commitment to delivering 50,000 codesin 2019, this target was surpassed representing a significant achievement for the Research and Development team.”

There’s been similar mixed results for some crypto mining stocks. Click here to read Micky’s recent report.

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