Shares in video customisation platform Linius Technologies (ASX:LNU) jumped at the opening bell today following a trading update.

The company told investors it’s booked “new reoccurring revenues and cash receipts in the current quarter”, while maintaining a reduced cost base.

The update comes one day after the launch of LNU’s Whizzard product — a subscription service that allows users to search and compile specific video content from within recorded meetings.

Shares in LNU initially rose more than 20 per cent as the stock pushes back towards 2020 highs, after briefly eclipsing 4c in September.

 

You’re a Whizzard, Harry Linius

Linius said its video-editing solution has been integrated and is available on Zoom, Webex Meetings and Microsoft Teams.

The SaaS platform is available on different bundles ranging from $US4 to $US32 a month.

In addition, Linius partner LiveTiles (ASX:LVT) has white-labeled the technology and is targeting its base of enterprise clients on the Microsoft network.

Along with its Whizzard rollout, LNU also flagged the December launch of its Video Virtualization Engine (VVE) platform with Australian basketball league the NBL.

Another launch is in the works, following a commercial deal in May to supply its VVE technology to financial charting software platform Grafa.

The company said product deployments across its multiple client channels “will greatly assist in generating future sales by providing visibility and validation of our personalised solutions”.

Professional investor Craig Scheef from Technical Investings, which owns a 4.31pc stake in Linius, discussed the company’s potential in an interview with Stockhead in early October.

Scheef highlighted LNU’s $5m capital raise in September and said its technology is a “pretty powerful concept”.

“It hasn’t got much traction yet but it looks really interesting,” Scheef said.

LNU’s 4C filing for the September quarter showed it booked net operating outflows of $1.022m on cash receipts on $20k.

Bolstered by its capital raise, the company finished the September quarter with $5.33m in the bank.

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