Sales development software company Bigtincan Holdings (ASX:BTH) got a solid response to its quarterly 4C filing this morning.

The company said annualised recurring revenues — the key metric for any software as a service (SaaS) platform — climbed to $32.4m (up 55 per cent from Q4 2018).

Recurring revenues also flowed into a pickup in cash receipts in the quarter, which came in at $9.1m (up 102 per cent).

The metrics helped drive demand for Bigtincan shares in morning trade, which rose by almost 20 per cent to 8.2c — a new 12-month high.

 

Bigtincan’s artificial intelligence-based software helps users to automate peripheral aspects of their product offering, streamlining those operations so sales staff can focus on winning new work.

After landing a $2.8m contract from Nike in September, Bigtincan scored another big-name client in Q4 when global beauty products brand Sephora came on board in a $2.8m deal.

While Q4 cash receipts rose to $9.1m, operational outflows came in at $10.4m, which the company attributed to costs associated with two acquisitions.

Bigtincan was also busy on the corporate side, completing a $20m share placement to finance the acquisition of document automation company Xinnovation Inc.

On the operational side, the company said it made new staff hires in sales and marketing across three US states, along with additions to the product development team in Australia, the US and Israel.

Co-founder and CEO David Keane said that along with the Sephora win, Q4 was defined by “expansion in existing enterprise customers, as well as making the investments that are needed to support Bigtincan’s growing customer base”.

 

In other ASX tech news today:

Health-tech platform MyFiziq (ASX:MYQ) has partnered up, signing a binding term sheet with US-based Bearn LLC, an exercise app which pays users when they achieve their fitness goals.

Under the terms of the deal, MyFiziq’s technology will be integrated into the Bearn app, giving users access to a body-tracking application. The rollout is expected to launch in April/May 2020, and Myfiziq will earn $2 per scan from Bearn customers. Shares were down 7.69 per cent in morning trade to 18c.

And shares in software business RPM Global Holdings (ASX:RUL) jumped after a positive market update. The company said year-to-date revenue in the 2020 financial year was currently $17.7m, an increase of $7.3m from RPM’s previous guidance in November. Shares rose 9.63 per cent to $1.025.