At the time of writing, ASX investors are paying 66 cents each for Bigtincan shares, up 5.6%.
Let’s take a look at the earnings update.
Bigtincan grows cash receipts 181% year-on-year
- Total quarterly customer cash receipts of $34.3 million, an increase of 181% from Q3 FY21 (yoy)
- Cash operating payments of $33.8 million including Brainshark integration investments
- Operating cash flow positive $500,000 for the quarter. This includes $600,000 in costs related to the integration of Brainshark
- $45.4 million in cash and cash equivalents on the balance sheet.
What else happened this quarter for Bigtincan?
The company notes that it was awarded a gold medal in the 2022 ‘SoftwareReviews Sales Enablement Data Quadrant Buyers Guide Report’.
It was ranked number one by users for its vendor capabilities and product features. The company said, “this level of market validation against direct competitors shows the power for the Bigtincan platform.”
Bigtincan also invested $4.4 million in its systems infrastructure and long-term development. This compares to $4.9 million in the previous quarter. These expenses came on the back of a mammoth 181% jump in customer cash receipts yoy.
Over the quarter, the Bigtincan share price fell by 17%.
Regarding its outlook, the company says that it is on track to “achieve or exceed” $119 million in annual recurring revenue (ARR) and $109 million in revenue for FY22.
The company secured a number of new customers including Lumen Technologies Inc (NYSE: LUMN), Lionco Pharmaceutical Group Co Ltd (SHA: 603669), Informa PLC (LON: INF), Panasonic (TYO: 6752), Genentech, American Express Travel (NYSE: AXP), Takeda Pharmaceuticals Co Ltd (NYSE: TAK), Abbott Laboratories (NYSE: ABT), Guardian, Arctic Wolf Networks, and Clarivate PLC (NYSE: CLVT).
Bigtincan share price snapshot
In the past 12 months, the Bigtincan share price has crumbled by 31%. It is down 37% this year to date, including a 20% drop over the past four weeks.
The post Cash bonanza: Here’s why the Bigtincan share price is leaping 8% appeared first on The Motley Fool Australia.
Should you invest $1,000 in Bigtincan Holdings right now?
Before you consider Bigtincan Holdings, you’ll want to hear this.
Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Bigtincan Holdings wasn’t one of them.
The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.
*Returns as of January 13th 2022
- Is this opportunity knocking? 3 ASX shares hitting 52-week lows today
- 3 small cap ASX shares brokers rate as buys
- 3 exciting small cap ASX shares for your watchlist
American Express is an advertising partner of The Ascent, a Motley Fool company. Motley Fool contributor Zach Bristow has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended BIGTINCAN FPO. The Motley Fool Australia has positions in and has recommended BIGTINCAN FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
from The Motley Fool Australia https://ift.tt/WGDjFhR