Bigtincan (ASX:BTH) share price jumps 9% on quarterly results

A solid set of June quarterly results has pushed the Bigtincan share price into positive year-to-date territory.
The post Bigtincan (ASX:BTH) share price jumps 9% on quarterly results appeared first on The Motley Fool Australia. –

The Bigtincan Holdings Ltd (ASX: BTH) share price is soaring today after the company delivered its June quarter results.

Bigtincan shares opened at $1.07 before pushing 8.96% higher to $1.15 at the time of writing.

Bigtincan share price rallies

The sales enablement platform provider reported customer cash receipts for the June quarter of $14.7 million. This is a 40% increase on the prior corresponding period (pcp).

The company said “overall the quarter showcased a seasonally strong quarter with cash receipts up 20% from Q3 FY21, as Bigtincan continued to see strength in its enterprise-focused business model”.

Overall cash receipts for FY21 increased 29% on pcp to $41.9 million (adjusted for multi-year payments/contracts).

Pleasingly, the $41.9 million in FY21 cash receipts represents a 117% conversion against the company’s initial annual recurring revenue (ARR) of $35.8 million. The company cites this as a “strong execution of cash collection as well as the creditworthiness of our enterprise customers”.

Bigtincan reported ARR of $53.1 million at the end of FY21, or a 48% increase against the pcp. This growth was underpinned by “a combination of the company’s organic growth engine with top of the pipeline lead generation returning to pre-pandemic levels, and successful M&A adding new customers with increasing cross sell and upsell opportunities”.

FY21 revenue expectations

Reporting season is typically an exciting time for the Bigtincan share price. The 1H21 and FY20 results witnessed a significant -8.7% and 14.3% move in Bigtincan shares.

According to today’s announcement, the company is expecting audited revenue for FY21 to be in excess of $43.5 million.

This figure is in line and towards the upper end of its guidance of $41 million to $44 million.

Major customer wins

High-profile wins have been a driver of the Bigtincan share price in the past. Contract wins include US telco giant T-Mobile, and US based global financial services company, John Hancock.

In today’s announcement, the company highlighted notable customer wins for the June quarter include Fujitsu, AirFrance and Uber Eats.

In addition, Bigtincan said it continued to experience the “benefits of the land and expand business model with expansions in key customers including Allurion, BT Openreach, Genentech, Peter’s Surgical, Sage Publishing, and WL Gore”.

Management commentary

Commenting on another quarter of growth and acquisitions, Bigtincan CEO David Keane said:

This quarter the team executed globally to deliver strong results demonstrating the progress of our business model, strong underlying unit economics, and benefits of our organic growth engine combined with smart M&A to continue our mission of creating the buying experience of the future for our customers’ customers.

Bigtincan share price up in 2021

The Bigtincan share price is up 5% year-to-date.

Despite underperforming the S&P/ASX 200 Index (ASX: XJO), which is up 10.07% this year, Bigtincan’s performance is better than the broader tech sector.

The S&P/ASX 200 Info Tech (INDEXASX: XIJ) index has surprisingly slipped almost 4% in 2021.

The post Bigtincan (ASX:BTH) share price jumps 9% on quarterly results appeared first on The Motley Fool Australia.

Should you invest $1,000 in Bigtincan right now?

Before you consider Bigtincan, 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 wasn’t one of them.

The online investing service he’s run for nearly 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 May 24th 2021

More reading

Why Bigtincan, Oil Search, Opthea, & Xref shares are racing higher

Bigtincan (ASX:BTH) share price storms higher on T-Mobile contract update
4 fast-growing ASX small cap shares that you may have overlooked

Motley Fool contributor Kerry Sun 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 BIGTINCAN FPO. The Motley Fool Australia owns shares of 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.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;

To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.

An active and funded account with a positive trading balance is required to continue to have access to the tools;

Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;

Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!