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2 top ASX growth shares reporting strong growth

Both Temple & Webster and Volpara are growing strongly.
The post 2 top ASX growth shares reporting strong growth appeared first on The Motley Fool Australia. –

Two leading ASX growth shares have revealed a lot of growth today.

Some businesses are doing it tough during COVID-19, but others are experiencing elevated levels of growth.

These two are seeing strong growth:

Volpara Health Technologies Ltd (ASX: VHT)

The Volpara share price is up more than 1% after it released a quarterly update.

It said that it achieved record quarterly cash receipts of NZ$6.4 million, an increase of 30% (and 50% in constant currency). Subscription-based receipts rose by 38% (and 60% in constant currency) to NZ$6.1 million.

Net operating cash outflow in the first quarter was NZ$3.2 million, an improvement of 20% year on year. The business finished the period with NZ$29.1 million of cash.

Volpara’s market share of women being screened improved by a percentage point, from 32% to 33%. Its average revenue per user (ARPU) was US$1.42, with the average ARPU in the first quarter of US$1.55 – this was driven by multiple, single profit, large volume deals. The ASX growth share also said its client churn continues to remain low.

The Volpara Group CEO Dr Ralph Highnam said:

Q1 is typically one of our weaker quarters given the US summer, but we’ve turned in another solid set of sales numbers, and we’re particularly pleased with hitting the 33% landmark of total US women screened. The merger with CRA Health is exceeding expectations and continues to go well, with integration of all.

Temple & Webster Group Ltd (ASX: TPW)

The Temple & Webster share price is currently up around 7.5% after revealing its FY21 result numbers.

It said that it saw a record year for revenue profit and customers. Revenue rose 85% year on year to $326.3 million. The trade and commercial division experienced revenue growth of 110% year on year. Temple & Webster’s earnings before interest, tax, depreciation and amortisation (EBITDA) surged 141% to $20.5 million.

The ASX growth share revealed that it saw revenue per active customer increase by 12% year on year due to customers repeating more often and spending more when they do. Active customers went up by 62% over the year to 778,000.

Temple & Webster’s fourth quarter maintained “strong” sales growth year on year at 26%.

FY22 has seen revenue grow by 39% year on year for the period of 1 July to 24 July 2021.

The Temple & Webster CEO Mark Coulter said:

While lockdowns during FY20 and FY21 have accelerated the underlying shift from offline to online, pleasingly we continue to see strong growth even when comparing against COVID impacted numbers.

While the start of FY22 has been difficult for many Australians, we remain focused on delivering a great experience for our customers, built around the biggest and best range of furniture and homewares, combined with inspirational content and services and a great delivery experience and customer service.

The post 2 top ASX growth shares reporting strong growth appeared first on The Motley Fool Australia.

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More reading

Temple & Webster (ASX:TPW) share price charges 7% higher on strong FY 2021 result
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Why is the Temple & Webster (ASX:TPW) share price up over 3% today?

Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Temple & Webster Group Ltd and VOLPARA FPO NZ. The Motley Fool Australia owns shares of and has recommended VOLPARA FPO NZ. The Motley Fool Australia has recommended Temple & Webster Group Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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