Ansarada Group (ASX:AND) - CEO, Sam Riley
CEO, Sam Riley
Source: Ansarada Group
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  • In its December quarterly results, Ansarada Group (AND), a global provider of information governance software, reported record customer and revenue growth
  • When compared to Q2 FY21, the group witnessed a 17 per cent growth in pro forma customer numbers in the three-month period ending December 31, 2021
  • Revenue reached a record high of $13.2 million during the quarter, rising 58 per cent year-on-year and 30 per cent quarter on quarter
  • AND is holding an investor webinar at 10:30 am AEDT
  • Shares in the company last traded at $1.77 on January 25

Ansarada Group (AND), a global information governance software provider, has posted record customer and revenue growth in its December quarterly results.

When compared to Q2 FY21, the group witnessed a 17 per cent growth in pro forma customer numbers in the three-month period ending December 31, 2021. Total customer numbers reached 3559.

Subscription customer numbers grew to a record 2738, up 32 per cent year-on-year from 2070 in Q2 FY21.

New wins (Ansarada closing a paying subscription/contract customer) in Q2 were up 26 per cent year-on-year, which the group said reflected a continued strong demand for its products.

Customer growth fueled revenue growth, with revenue increasing by 30 per cent quarter over quarter in recognised revenue. Revenue reached a record high of $13.2 million during the quarter, rising 58 per cent year-on-year and 30 per cent quarter on quarter.

In addition, APRA (average monthly revenue generated from customers on subscriptions) increased from $1139 in Q1 FY22 to $1408 in Q2.

The company had positive cash flows, with a $4.4 million cash flow from operations, up from $2.5 million in Q1 FY22, and a cash balance of $20.9 million, down nine per cent quarter on quarter. This was attributed to the group’s acquisition of TriLine GRC.

During the quarter, Ansarada recorded cash receipts from customers of $14.5 million, up 55 per cent year-on-year.

“We capped off our first year as a listed company delivering 58% revenue growth, maintaining cash flow positivity while simultaneously expanding our solutions and building a strong foundation for growth,” CEO Sam Riley said.

“Whilst we are proud of our track record to date, and energised by the momentum we are seeing across our business, we are very early in our growth cycle with scope for sustained growth.

“We are focused on methodically executing our strategy to expand upon our trusted brand, customer relationships and market leading product suite.

“Our focus in 2022 is on strengthening diversified revenue streams across multiple complementary markets that deliver sustainable growth irrespective of the economic cycle.”

In the second quarter, cash flow from operations less capex was negative at $2.4 million, which the business ascribed to the $5.3 million acquisition of TriLine. Excluding the transaction, the firm produced $2.9 million in free cash flow.

AND is holding an investor webinar at 10:30 am AEDT.

Shares in the company last traded at $1.77 on January 25.

AND by the numbers
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