Insights

Could this quarterly sink or swim the Cirralto (ASX: CRO) share price?

The Cirralto (ASX: CRO) share price is down 1.2% in opening trade after the company released it third-quarter update.
The post Could this quarterly sink or swim the Cirralto (ASX: CRO) share price? appeared first on The Motley Fool Australia. –

The Cirralto Ltd (ASX: CRO) share price is slipping in opening trade after the company released its third-quarter update this morning. In what could be a tug of war between the bulls and bears, the Cirralto share price is down 1.18% at the time of writing, trading at 8.4 cents.

Third-quarter highlights 

In its update for the quarter ending 31 March (3Q21), Cirralto announced a 25% increase to $294,000 in total cash receipts from customers. The company is still in the testing phase of its payments technology, which might explain the relatively lacklustre growth.

It plans to launch the payments platform on 1 May 2021.

Cirralto used this quarter to put together the pieces it needs to drive growth in the near term. This included recruiting and integrating new talent into the team, optimising operational systems and building market momentum for its Spenda software product.

The company said it had translated into a 1,088% increase in total leads from 35 in the second quarter FY21 to 416 in 3Q21. As well, there was a 121% increase in website session views between the second and third quarter. 

Cirralto is focusing on expanding the capabilities of Spenda. The software includes real-time digital business payment services, debt collection software, a dynamic POS and inventory management system. The company is currently releasing additional features to expand its addressable market and competitiveness. 

Why it could go either way for the Cirralto share price 

Cirralto’s quarterly highlights relatively stagnant growth for the richly valued, transaction services business. This quarterly reporting season has been particularly punishing for companies that have not been able to live up to expectations. 

On the flip side, Cirralto has used this quarter to ready its springboard for accelerated growth towards the end of the year.

The launch of its upgraded technology platform, increased brand awareness, previous capital raising, zero debt and increased headcount could all contribute to more growth in the future. 

Where to invest $1,000 right now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

See The 5 Stocks

*Returns as of February 15th 2021

More reading

Motley Fool contributor Kerry Sun has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post Could this quarterly sink or swim the Cirralto (ASX: CRO) share price? appeared first on The Motley Fool Australia.

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!