Join our daily newsletter At The Bell to receive exclusive market insights
- CV Check (CV1) notched up $6.3 million in revenue during the first quarter of FY22, an 85 per cent increase on the same time last year
- The credential verification business says it’s a pleasing result given the impact of COVID-19 and associated lockdowns
- CV1 ended the September quarter with 12.3 million worth of cash in the bank and no reported financing
- It also hired a new leader this month, with current executive team member Jason Margach named CFO and COO
- Shares in CV Check ended the day up 9.09 per cent at 18 cents each
CV Check (CV1) has notched up $6.3 million in revenue during the first quarter of FY22, an 85 per cent increase on the same time last year.
The credential verification business explained the quarterly results were marginally higher than Q4 FY21’s results and set a new sales record.
CV1 also labelled the results pleasing given the impact of COVID-19 and the associated lockdowns across NSW and Victoria.
The company credited the success to its decision to pivot its focus to business to business sales.
CV1 ended the September quarter with 12.3 million worth of cash in the bank and no reported financing.
CV Check CEO Michael Ivanchenko said the results were encouraging.
“This is yet another great result from the strong core business,” Mr Ivanchenko said.
“Work is progressing well on consolidating technology features to reduce cost to
serve and open opportunities to improve quality revenue.
“I look forward to sharing plans for product development and feature enhancement in coming months.”
The company has started Q2 off with a bang, appointing a new Chief Financial Offer and Chief Operating Officer.
Existing executive team member Jason Margach has been awarded both of the senior leadership roles.
Shares in CV Check ended the day up 9.09 per cent at 18 cents each.
