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- Recruitment technology provider AD1 (AD1) has provided a performance update for its subsidiary Art of Mentoring
- Art of Mentoring, which was purchased by AD1 in October last year, is a Software as a Service (SaaS) business providing mentoring services to organisations
- Art of Mentoring has acquired 15 new clients since the start of the financial year, with eight of them signing on since the acquisition
- The list of clients includes household names like Toyota Australia, the Fair Work Ombudsman, and the Royal Australian Navy
- Art of Mentoring is reportedly trending around 80 per cent above its revenue for the corresponding period last year
- AD1 shares are up 8.89 per cent at 4.9 cents
Recruitment technology provider AD1 (AD1) has provided a performance update for its subsidiary business, Art of Mentoring.
Art of Mentoring, which was purchased by AD1 in October last year, is a Software as a Service (SaaS) business focused on designing, implementing and providing mentoring services to organisations.
According to AD1, Art of Mentoring has acquired 15 new clients since the start of the financial year, with eight of them signing on since the acquisition. Added to this the company is boasting a 100 per cent renewal rate of clients in the six months to December.
The expanding list of clients includes notable entities such as Toyota Australia, Fair Work Ombudsman, and the Royal Australian Navy.
AD1 says the key consideration in the acquisition of Art of Mentoring was that it provided the company with a high-quality SaaS product with a shorter sales cycle and robust new business momentum.
As a result of the above, Art of Mentoring is reportedly trending approximately 80 per cent above its revenue for the same period in the previous financial year.
AD1 has seen a constant rise in share price over the past six months. Coming off a low base, the company took off in July to hit a peak of 7.6 cents in September. The stock has been range-bound between four and five cents since that time.
AD1 is up 8.89 per cent today trading at 4.9 cents at 12:52 pm AEDT.
