AppsVillage expects 50pc uplift in revenue this quarter
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Special Report: AppsVillage is expecting major growth as fast-tracked expansion plans lead to a better than expected revenue.
AppsVillage (ASX:APV) is continuing to grow strongly, with quarterly revenue expected to surge by 50 per cent.
The SaaS solutions provider for small and medium businesses says December quarter invoiced revenue is expected grow on the back of a steep rise in paying customers.
The revenue bounce is coming off rising paying customer numbers faster than expected following the roll out of AppsVillage’s expansion into emerging markets such as India, Malaysia, Philippines and multiple countries within Africa.
The company says that figure is set to rise by 50 per cent for the December quarter, compared to the September quarter.
Source: APV ASX announcement 5th December 2019 “Revenue Guidance for Q4 2019”
CEO Max Bluvband says growth is behind the rapid rise in revenue.
“We are 100 per cent focused on growth and the result of that can be in the revenue growth,” he told Stockhead.
“The most exciting part of this update for me is the momentum we’ve seen in new high-growth economies this quarter. It’s exceeded our expectations and provides a much broader base for growth as we head into 2020.”
All-important recurring revenue is set to hit $105,000, representing a significant uplift compared to that delivered in the September and June.
AppsVillage listed on the ASX in August with a platform that provides SMBs with a simple, inexpensive way to create and market their own branded mobile app for their business. It raised $5m in a heavily oversubscribed initial public offer and saw a debut bounce of 45 per cent on the first day.
>> Now watch: 90 Seconds With… Max Bluvband, AppsVillage