Special Report: AppsVillage now expects to book monthly recurring revenues of $145,000 – an increase of 30 per cent from the December quarter.

Software company AppsVillage (ASX:APV) has continued moving from strength to strength since listing on the ASX in August last year.

The business continues to find traction across global markets with its core product offering – an innovative software-as-a-service (SaaS) solution that allows small-to-medium business (SMB) customers to download and run their own customer-facing app in minutes.

And over the last six months, the executive team has been busy building out the product suite with complementary offerings, including an SMB lending service and an online marketplace platform.

While strategic execution is important, one factor which has set AppsVillage apart as a listed entity is that its announcements are underpinned by strong numbers.

That was reinforced this morning, when the company announced a big upgrade to its Q1 revenue forecasts. Monthly recurring revenues are now expected to reach $145,000, an increase of 30 per cent from the December quarter and more than 230 per cent higher than the prior-year comparative period.

The upgraded guidance follows a strong 2019 Q4 revenue result, when AppsVillage smashed its December quarter guidance with revenue surging 58 per cent.

AppsVillage said unexpectedly strong growth in quarterly income had been driven by a successful push into new emerging markets across Africa and south-east Asia.

And with revenues surging to start the year, the company now expects recurring income streams across the 2020 calendar year to reach in excess of $4m.

With momentum increasing across all of its core product channels, AppsVillage is well on its way to establishing a market-leading SaaS platform with monthly recurring revenue that is growing exponentially.

This story was developed in collaboration with AppsVillage, a Stockhead advertiser at the time of publishing.
This story does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.