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- Global software company Bigtincan (BTH) has achieved a record annualised recurring revenue (ARR) in H1 FY21
- During the half, the company’s ARR grew 50 per cent $48.4 million while revenue grew 33 per cent to $18.4 million
- Bigtincan credits these increases to optimised pricing, targeted marketing and improved retention
- Throughout the half, the company acquired Danish sales tech company Agnitio for around $3.3 million and sales engagement company ClearSlide for around $22.6 million
- These acquisitions enable Bigtincan to attract new customers and enhance sales and customer engagement
- In regards to its full FY21 results, Bigtincan expects ARR between $49 million and $53 million and revenue between $41 million and $44 million
- Bigtincan is down 6.12 per cent on the market and shares are trading at 92 cents
Global software company Bigtincan (BTH) has achieved a record annualised recurring revenue (ARR) in H1 FY21.
During the half, the company’s ARR grew 50 per cent over the prior corresponding period (pcp) to $48.4 million.
Revenue grew 33 per cent over H1 FY20 to $18.4 million while lifetime value of customers was up 44 per cent to $363 million.
Bigtincan credits these increases to optimised pricing, targeted marketing and improved retention.
Unfortunately, the company had loss after income tax totalling more than $7.8 million which is more than double the $3.9 million in H1 FY20.
Operations
Throughout the half, Bigtincan acquired Danish sales tech company Agnitio for DKK 15 million (around A$3.3 million).
Agnitio makes sales technology for the healthcare sector and creates sales enablement systems for the life sciences industry.
The platform integrates sales data and engagement technologies to enable businesses to more accurately pitch to customers.
Bigtincan also acquired sales engagement company ClearSlide for US$16.25 million (around $22.6 million).
ClearSlide delivers buyer engagement analytics, content management and other tools for the sales process.
“H1 FY21 again demonstrated the success of the Bigtincan growth strategy, with strong organic growth, smart acquisition and growing industry recognition,” CEO and co-founder David Keane said.
“The Bigtincan teams around the world continued to show their ability to build on our technology innovation pipeline and help some of the world’s leading companies to solve their challenges for their customer facing teams in an increasingly digital and remote economy,” he added.
Regarding its full FY21 results, Bigtincan expects ARR between $49 million and $53 million and revenue between $41 million and $44 million.
Bigtincan is down 6.12 per cent on the market and shares are trading at 92 cents at 11:12 am AEDT.
