- CV Check has reached record revenue during the first quarter of the 2020 financial year
- The company specialises in background checks on employees for companies
- CV1’s revenue jumped to $3.5 million, with majority coming from business to business sales
- CV Check’s share price is up 3.85 per cent today, currently sitting at 14 cents per share
CV Check has topped record revenue during the first quarter of the 2020 financial year by reaching $3.5 million.
Business to business (B2B) sales drove the growth, accounting for $2.6 million of the revenue, recording a 24 per cent increase on the previous year.
“CV1 is delighted to report record top line revenue growth for the quarter, driven by new B2B tender wins, increased high quality revenue conversions and successful new product rollouts,” company CEO Rod Sherwood said.
The company specialises in providing background check services for employers on prospective employees. This includes police clearances and international checks.
Going forward CV Check explained to the market it remains in a financially secure position.
“With additional revenue currently being onboarded from recent large
enterprise wins CV1 remains well positioned to continue its strong start to FY2020,” Rod said.
Cash balance at the end of the quarter is $5.8 million.
Shareholders can expect a more detailed update on the first quarter finances towards the end of the month, the company advised.
Heading towards the market close, CV Check’s share price is up 3.85 per cent today, currently sitting at 14 cents apiece.