- intelliHR has reported the strongest 12-month period of subscription and annual recurring revenue (ARR) growth in company history
- Over 6000 new subscribers were added in the 2019 financial year, bringing the total to 9451 subscribers
- Nearly 4300 of the 6167 new subscribers were contracted in the second half of the financial year alone
- intelliHR reported that contracted subscription revenue tripled from $405,965 to $1,217,000 in the 2019 financial year
- Company shares are currently up 10 per cent, trading for 8.8 cents in a $11.71 million market cap
intelliHR shares are up 10 per cent today after the company reported the strongest 12-month period of subscription and annual recurring revenue (ARR) growth in company history.
The company listed on the ASX and started trading shares publicly for the first time in January last year. In the first full financial year since intelliHR has reported a 188 per cent increase in contracted subscribers. Over 6000 new subscribers were added in the 2019 financial year, bringing the total to 9451 subscribers.
intelliHR says the company milestone of 10,000 subscribers is “imminent”. According to the report released to shareholders today, nearly 4300 of the 6167 new subscribers were contracted in the second half of the financial year alone.
In terms of the cash brought in by these new subscribers, intelliHR reported that contracted subscription revenue tripled from $405,965 to $1,217,000 in the 2019 financial year. This value represents over $800,000 growth in ARR in the last financial year.
A subscription company’s ARR is worked out by dividing the value of the contract by the relative years subscribed for. For example, a five-year contract for $10,000 represents a $2000 ARR. As such, much of record $1.2 million ARR will carry over to future years.
intelliHR management attributed the strong financial year to optimising its sales progress to sign on new business faster in the mid-market. The company says is also improved its product and market focus to make its services more competitive.
Integration and partnership sales channels currently underway are also expected to bring in strong sales later this year.
intelliHR is a tech business currently focused on marketing and developing its cloud-base people management and data analytics platform.
intelliHR shares reached a premium 9.1 cents each this morning, and now trade for 8.8 cents in a $11.71 million market cap.