Here’s why Nitro Software Ltd (ASX:NTO) and these exciting ASX small cap shares could be the ones to watch right now…
The post 3 fast-growing small cap ASX shares to watch appeared first on The Motley Fool Australia. –
If you’re looking to gain exposure to the small side of the market, then you might want to take a look at the small cap ASX shares listed below.
Here’s why these small cap ASX shares could be ones to watch:
Bigtincan Holdings Ltd (ASX: BTH)
Bigtincan is a provider of enterprise mobility software to sales and service organisations. It has been designed to allow users to increase sales win rates, reduce expenditures, and improve customer satisfaction through improved mobile worker productivity.
The company released its second quarter update last week and revealed annualised recurring revenue (ARR) of $48.4 million. This represents growth of 50% on the prior corresponding period and was driven predominantly by organic growth.
MyDeal.com.au Limited (ASX: MYD)
MyDeal.com.au is an online retail marketplace with a focus on furniture, homewares, appliances, technology, baby products, and hardware. It has been a big winner from the accelerating shift to online shopping caused by the pandemic.
The company recently released its half year update and revealed first half gross sales of $126.7 million. This was a 217% increase over the same period last year. Management advised that this was driven by a strong increase in active customers to a record 813,764 and higher levels of repeat use.
Nitro Software Ltd (ASX: NTO)
A final small cap to watch is Nitro Software. It is a growing software company aiming to drive digital transformation in organisations around the world across multiple industries. Its key solution is the Nitro Productivity Suite, which provides integrated PDF productivity and electronic signature tools.
Last week it released its fourth quarter update and revealed that its ARR reached US$27.7 million at the end of December. This was up 64% on the prior corresponding period. It was also ahead of its previously upgraded guidance of US$26 million to US$27 million. Management advised that the company now serves 11,700 business customers, including 68% of the Fortune 500.
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James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends BIGTINCAN FPO. The Motley Fool Australia has recommended BIGTINCAN FPO and Nitro Software Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.