Envirosuite (ASX: EVS) share price jumps 10% on record-breaking result

Envirosuite’s quarter has been epic, despite its share price slipping 30% since 31 March
The post Envirosuite (ASX: EVS) share price jumps 10% on record-breaking result appeared first on The Motley Fool Australia. –

Shares in Envirosuite Ltd (ASX: EVS) soared almost 10% this morning after the company released record-breaking quarterly results. The Envirosuite share price gained 9.52% to trade at 12 cents in morning trade, before partially retreating.

At the time of writing, the shares are swapping hands for 11 cents, still up 4.76% on the previous close.

The creator of environmental management software released its results for the fourth quarter of the 2021 financial year earlier this morning.

Let’s take a look at what’s got the market so excited about Envirosuite.

Record-breaking results

The Envirosuite share price is gaining after the company reported it received $2.3 million worth of new annual recurring revenue sales over the final quarter of FY21.

Of those sales, $1.3 million was from existing customers. The company said that shows it’s able to grow strong relationships with “blue-chip” customers.

Airports were Envirosuite’s largest customer base – bringing in $1 million. Some $500,000 came from waste and water management, $400,000 from mining, while its other customer segments brought in $400,000.

That brings Envirosuite’s total annual recurring revenue up to $46.5 million. It also recorded $2.4 million worth of non-recurring sales over the quarter.

The company said the results set the stage for it to continue its growth while minimising risk, cost, and complexity.

Unfortunately, despite the business performing well over the quarter, the Envirosuite share price fell 30% in the 3-month period.

Commentary from management

Envirosuite’s CEO Jason Cooper said of the results:

These results reflect our focus to build a culture of high performance. The increasing emphasis surrounding environmental, social and governance (ESG) criteria highlights the critical role Envirosuite plays in safeguarding the environment and communities. As we enter FY22, (Envirosuite) is well positioned to capitalise on these macro themes with renewed focus and discipline to continue delivering on our customer acquisition strategy to land, expand and scale accounts across all sectors.

Envirosuite share price snapshot

The Envirosuite share price has been struggling lately.

It’s currently 42% lower than it was at the beginning of 2021. It has also fallen 26% since this time last year.

The company has a market capitalisation of around $125 million, with approximately 1.1 billion shares outstanding.

The post Envirosuite (ASX: EVS) share price jumps 10% on record-breaking result appeared first on The Motley Fool Australia.

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

Before you consider Envirosuite, 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 Envirosuite 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

Sims (ASX:SGM) share price edges higher as new facility approved
3 ASX tech shares for the post-COVID world

The Fortescue Metals (ASX:FMG) share price just surged 3% this morning
Why the Mineral Resources (ASX:MIN) share price hit an all-time high today
Why Alkane, Audinate, Megaport, & Zip shares are rising today

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. 

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. 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.

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!