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Ansarada Group (ASX:AND) - CEO, Sam Riley - The Market Herald
CEO, Sam Riley
Source: Start Up And Scale
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  • Ansarada (AND) shares receive a boost after the company reports encouraging preliminary results for the June quarter and FY21
  • The report is the company's first since acquiring Ansarada NewCo and listing on the ASX last year
  • Ansarada experienced solid revenue growth and customer wins over the period
  • Cash and equivalents clocked in at $22.6 million
  • Ansarada shares closed today's session up 4.11 per cent to trade at $1.52

Ansarada (AND) shares have received a boost after the company reported encouraging preliminary results for the June quarter and FY21.

It marks the company's first end of financial year reporting season on the ASX after acquiring Ansarada NewCo and listing on the exchange in December last year.

The company experienced a 16 per cent in growth in revenue between the first and second half of the financial year, from an estimated $15.4 million to $18 million.

Customers, subscribers and new contract wins were up over the period, with active subscription customers growing by 41 per cent on the prior corresponding period to total 2566.

Ansarada also reached 3269 contract wins by the end of the financial year, marking a 31 per cent increase compared to the previous year.

Cash and equivalents clocked in at $22.6 million, which is enough to see it through just shy of the next nine quarters based on current spending levels.

Broadly, Ansarada Chief Executive Officer Sam Riley said it has been a transformative year for the company.

"The first half of the year we responded to the pandemic and completed a merger and listing on the ASX," he said.

"We evolved our strengths and core business significantly, grew at record pace and simultaneously improved our operating leverage."

Ansarada shares closed today's session up 4.11 per cent to trade at $1.52.

AND by the numbers
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