- Whispir’s (WSP) share price lifted by almost 10 per cent after the software company released its June quarterly report
- The tech stock recorded an annualised recurring revenue (ARR) of $53.6 million in Q4 as well as cash receipts of $13.5 million
- It added 51 new customers during the period and ended June with more than $49 million in the bank
- WSP plans to focus in on the North American market over FY22 and says it is well funded to unlock new growth in the region
- Company shares ended Wednesday up 7.20 per cent at $2.83
Whispir’s (WSP) share price lifted by almost 10 per cent after the software company released its June quarterly report.
The software as a service (SaaS) business added more than 20 cents to its share price during Wednesday’s session, after revealing increases in revenue and receipts.
WSP recorded an annualised recurring revenue (ARR) of $53.6 million in Q4, up 28.5 per cent year on year and 6.6 per cent on Q3.
The company said the growth was largely driven by existing customers increasing their usage on the Whispir platform.
WSP’s cash receipts totalled $13.5 million at the end of June, which was an 18.9 per cent increase on Q4 FY20.
The tech stock added 51 new customers during the three month period, brining its total number of customers at the end of FY21 to 801.
Whispir finished June 30 with more than $49 million worth of in the bank and CEO Jeromy Wells said it was well funded for growth after its recent capital raise.
“Our successful capital raising during the quarter ensures we are able to
fast-track our product development and increase our sales and marketing capability to scale the business faster, particularly in Asia and North America where we have large addressable target markets,” Mr Wells said.
WSP plans to focus in on the North American market over FY22, as the CEO said there was considerable demand.
“Our strengthened balance sheet enables us to accelerate our international expansion to support our longer-term business objectives of 50 per cent of total group revenue being generated internationally by the end of FY23,” Mr Wells said.
WSP shares ended Wednesday up 7.20 per cent at $2.83 per share.