HR software company intelliHR (ASX:IHR) says it has lifted subscriber numbers by 17 per cent since the end of March, which may help the company start to beat its money woes.

The company’s share price rose 16 per cent on the news, to 10c.

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intelliHR sells its software to small-to-enterprise sized businesses and charges by the user. It told the market that users — subscribers — were spread over 55 business customers.

Subscriber numbers jumped in the last six weeks from 6945 at the end of March to 8114 on May 3.

Annual recurring revenue, a commonly-used metric among software-as-a-service companies, has gone from $952,000 to $1.1m.

But since the June quarter last year the company has struggled to lift its quarterly receipt take from a tight band of $148,000 to $154,000.

The company said standard subscribers pay $15 a month, suggesting the June quarter this year could see cash receipts of around $365,130.

As at the end of March this year, the company had just under $1m in the bank and a burn rate of $1.3m.

It raised $1m from sophisticated investors in April, but earlier this month cancelled the remainder of the capital raising, a $2.76m rights issue to all shareholders, claiming “the rights issue … at this time not in the best interests of the company and shareholders”.

IntelliHR’s share price has come off the all-time lows it hit last week, but is still very close to that 8.5c mark.


In other ASX tech news today

XTREME growth — it’s extreme. Investors have also taken note of iSignThis’s (ASX:ISX) news that it’s broken even and is entering an “extreme growth phase”. The stock rose 12 per cent to 38c.

The identity and payment verification service says it is breaking even “on a weekly cash run rate basis”. That means gross profit now exceeds operating costs. The company wouldn’t provide details as to what those costs and profit are, but said annualised costs were $8.75m and gross profit “comfortably exceeds” that. As at the end of March ISignThis took $1.4m in receipts and burned $1.7m in operating costs.

It also said annualised gross processed transaction volume (GPTV) rose 130 per cent in the last month to $542m, and only 25 per cent of approved and contracted customers have been onboarded into the platform.

Aquabotix (ASX:UUV), them of the unusually-shaped drone submarines, has signed a ‘teaming agreement’ with NASDAQ-listed defence contractor ManTech International to get US government funding for an unspecified project.

This is the unusual underwater drone:

The SwarmDiverSTEALTH. Pic: Aquabotix

Logistics company Wiseway (ASX:WWG) is not an early casualty of the latest US-China tariff spat, but is blaming China for not meeting its IPO forecasts.

They expect pro forma earnings before interest, taxation, depreciation and amortisation (EBITDA) for the full year to be around $3m.

They’d forecast $8.5m in the IPO prospectus in October.

The stock is down 13 per cent to 26c.

“The earnings revision has primarily been driven as a result of volumes to China, not growing as strongly as had been expected in the second half, following Chinese New Year,” they said.

Advanced Braking Technology (ASX:ADV) is supplying brakes and brake services for 1100 Thales’ ‘Hawkei’ vehicles, as part of an Australian defence contract.

The initial 12 month contract is worth $130,000.