- Australian human resource technology business intelliHR (IHR) has entered a trading halt ahead of a capital raise
- It is unsure how much the company wants to raise and what the funds will be used for, but the company says it’s aiming to release this information as soon as possible
- intelliHR shares will be paused until Thursday or when it releases this information
- In the meantime, the company saw growth across a number of key metrics over the fourth quarter of FY20
- Cash receipts increased 54.5 per cent compared to Q3, while the number of contracted customers jumped 16 per cent on the previous quarter’s statistics
- Over the period, intelliHR burnt $637,000 and ended the quarter with over $2.7 million in the bank
- intelliHR shares last traded for 7.3 cents each on August 3
Australian human resource technology business intelliHR (IHR) has entered a trading halt ahead of a capital raise.
It is unsure how much the company wants to raise and what the funds will be used for, but the company says it’s aiming to release this information as soon as possible.
The halt means the company shares will be paused until Thursday, August 6, or when it releases the information about the raise.
Fourth-quarter results
In the meantime, the company saw growth across a number of key metrics over the fourth quarter of FY20.
Cash receipts increased 54.5 per cent compared to Q3, while the number of contracted customers jumped 16 per cent on the previous quarter’s statistics. The company added 49 new customers to its Essentials platform, with 4848 freemium subscribers added.
In addition, annual recurring revenue increased during the fourth quarter by 12.3 per cent from $1.74 million to $1.96 million.
Over the period, intelliHR burnt $637,000, which contributed to a $3.1 million operational cash burn recorded over the last 12 months. The company ended the quarter with over $2.7 million in the bank.
intelliHR shares last traded for 7.3 cents each on August 3.