The LiveTiles Ltd (ASX:LVT) share price is charging higher on Thursday following the release of its half year results. Here’s how it performed…
The post Here’s why the LiveTiles (ASX:LVT) share price is charging higher today appeared first on The Motley Fool Australia. –
In morning trade the intranet and workplace technology software provider’s shares are up over 4% to 25 cents.
How did LiveTiles perform in the first half?
For the six months ended 31 December, LiveTiles reported a 10% increase in annualised recurring revenue (ARR) to $58.1 million. On a constant currency basis, its ARR grew 23% over the prior corresponding period.
Also heading in the right direction was its operating expenses. Excluding non-recurring items, LiveTiles’ operating expenses reduced by 27% to $23 million.
And while the company is still making a loss, it is narrowing. For the six months, LiveTiles recorded an operating loss of $2.3 million. This compares to an operating loss of $14 million a year earlier.
It was a similar story on the bottom line, with LiveTiles’ loss after tax improving to $6.5 million from $15.9 million a year earlier. This improvement is being driven by strategic cost initiatives and continued revenue growth.
At the end of the period, LiveTiles had a cash balance of $19.4 million.
LiveTiles Co-Founder and Chief Executive Officer, Karl Redenbach, appeared pleased with the company’s performance during the half.
He commented: “LiveTiles is pleased to have added to its record base of annualised recurring revenue and cash receipts, and been able to reinvest into its marketing initiatives and direct sales strategy after a period of cost discipline. Importantly we have achieved all of this with a remarkable 84% improvement in our Adjusted EBTIDA for the half compared to the same period last year.”
“LiveTiles is adding new products and features, strengthening longstanding partnerships, striking new ones, finding integration efficiencies and enhancing our brand awareness in enterprise space.”
And while no guidance has been given, Mr Redenbach notes that the company has started the second half positively.
“We’ve started the calendar year with great momentum with our recent record customer win, which will help LiveTiles elevate itself as a clear leader in the Employee Experience industry and continue to win more Enterprise business,” he concluded.
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.
*Returns as of February 15th 2021
- Why CSL, LiveTiles, OceanaGold, & Woodside shares are tumbling lower
- Why the LiveTiles (ASX:LVT) share price is tumbling 11% lower today
- Why the LiveTiles (ASX:LVT) share price is rocketing 20% today
- Why Cann, Creso, LiveTiles, & New Corp shares are tumbling lower today
- Why the LiveTiles (ASX:LVT) share price is surging 17% higher today
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 LIVETILES FPO. The Motley Fool Australia has recommended LIVETILES FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.