Tech: Whispir booked $10.1m in cash receipts last quarter
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Quarterly season has officially hit the ASX with the majority of news among tech stocks being quarterlies. Today’s stand out was workflow platform Whispir (ASX:WSP).
It raked in $10.1m in cash receipts in the December quarter – a 36.5 per cent gain a year earlier. Whispir’s annualised recurring revenue was $36.7m and it has $19.1m in the bank.
The company reiterated the full-year forecast it made in its prospectus.
Whispir, which entered the ASX last June, has developed a communications workflow platform which automates interactions such as marketing campaigns and event management.
One client was the New Zealand police force. It utilised Whispir to develop a service to help the deaf and hearing impaired access emergency services.
Whispir’s platform is cloud-based and “low code-no code” meaning it can be implemented and managed with no IT developer or designer skills.
A spokesperson for the company told Stockhead the company was proud of its performance and that it was “tracking well against its prospectus targets”.
Whispir shares gained over 10 per cent at market open this morning.
Child smartwatch maker MGM Wireless (ASX:MWR) was unchanged this morning despite announcing record monthly recurring revenue of $109,000 from its AllMyTribe app. This represents a threefold increase from December 2018. Total app revenue was $500,000, up 632 per cent from the prior corresponding period. It is currently the top grossing navigation app in Australia and New Zealand.
Payments processor Novatti Group (ASX:NOV) rose nearly 5 per cent after announcing transaction processing revenue grew 45 per cent in 12 months, reaching $1.55m.