Bigtincan Holdings Limited (ASX: BTH) has released its third quarter results to the market today. The company has reported strong results, amid the coronavirus outbreak. Cash receipts increased by 65% from the previous quarter to $14.9m, while cash operating payments increased to $11.1m from $10m in the previous quarter (representing 11% growth). This has resulted in the business operating cash flow positive for the quarter.
Bigtincan Holdings Limited (ASX: BTH) has released its 3Q results to the market. Cash receipts increased by 65% from the previous quarter. The share price rallied over 23%. (Source: smallcaps.com.au).
The market reacted very well to the strong results, with the share price rallyin over 23% in the first two hours of trading. BTH is now trading $0.14 higher, at $0.73 per share.
BTH has approximately $31m in cash and is sufficiently capitalised for growth, as the economy recovery with the help of increased fiscal stimulus.
During the Covid-19 outbreak, BTH offered a coronavirus awareness toolkit and working remotely course to aid companies embracing working from home. Furthermore, the company addressed counter-cyclical market sectors (life science, technology, telecommunications), with programs that added value to customers and BTH.
The company’s guidance remains unchanged at revenue growth of 30-40%, with stable retention.
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