Half Year FY23 Results Announcement
Sydney, Feb 27, 2023 AEST (ABN Newswire) - Bigtincan Holdings Limited (ASX:BTH) (BGTHF:OTCMKTS), a global software company providing a leading AI-powered sales enablement automation platform, has today released its Appendix 4D and is pleased to present commentary on activities in 1H FY23 ("Half") to accompany the lodgement of results for the half year ending 31 December 2022..
1H FY23 Financial Highlights
- ARR $130m at 31 December 2023, with Multi-Hub representing 29% of ARR (up from 17% PcP).
- Revenue $60.2m, 31% Revenue Growth over PcP.
- European region delivered 34% ARR growth vs 1H FY23 after investments in the region during FY22.
- Gross Margin 88%, increased 2% vs PCP showing impacts of adjusted operations
- MRR Retention rate 87% with Net Retention Rate 105%, (Multi-Hub NRR of 120%)
- Cash $54.2m, on track for cash flow break even in Q4 FY23.
- Adj. EBITDA $2.1m, up 74% over PcP, with Full Year FY23 Adj EBITDA forecast to exceed $5m.
- LTV of $878m, rapidly approaching milestone $1B.
- Bigtincan is no longer required to lodge Appendix 4C quarterly reports.
- On track for full year guidance.
1H FY23 Trading Highlights & Outlook
- New product releases across Content, Learning and Engagement Hubs.
- Integrations launched for:
o Native Mac app
o Zoom integration into Bigtincan Meetings
- Acquisition of SalesDirector.ai completed to lead in AI-driven revenue intelligence for sales enablement.
- Morgan Stanley Australia Limited appointed as financial advisor in relation to approaches to the Company.
- $30m institutional capital raise completed to support ongoing growth through the existing M&A program.
Bigtincan Co-Founder and CEO, David Keane, commented on the 1H FY22 results:
"We are pleased to deliver another record ARR result in 1H FY23, with the Company continuing to deliver market leading products, win important customer deals, and progressing our commitment to materially improved adjusted EBITDA. These strong results are due to the work of the global Bigtincan team who continue to deliver for our customers and each other.
In 1H FY23 our Multi-Hub strategy continued to benefit the business with Multi-Hub ARR growing from 17% in the previous corresponding period, to 29% of total ARR at the end of 1H FY23. Multi-Hub ARR grew from $19m to $38m (100%) period over period and at a run rate of $38m in ARR, that makes Bigtincan's Multi-Hub a significant part of our overall business.
Multi-Hub customers are stickier and spend more (109%) than Single Hub customers, and with 14% of the customer base buying a Multi-Hub solution at end 1H FY23 we have the opportunity to continue penetration into the base of existing customers as well as supporting new customer wins, helping Bigtincan to continue to grow its global business."
ARR continued to grow in 1H FY23 passing $130m as Bigtincan benefited from the combination of the organic growth strategy, Multi-Hub transition, and the small scale M&A program. This continues the growth strategy of the company with ARR growth in all regions.
Business Recognition, Vertical and Regional Progression
Bigtincan continued to demonstrate the value of its technology, receiving key industry awards in the Half including;
- 2022 Aragon Research Innovation Award for Sales Enablement
2022 Product of the Year "SAMMY" Award for Sales and Marketing Technology
- 2022 SoftwareReviews Emotional Footprint Award, Sales Enablement Software Champion
- 2022 Silver Stevie Award for Sales & Customer Service
- 2022 SoftwareReviews Sales Enablement Gold Medalist and Leader
These awards are helpful for investors to understand the progression of the Company and its core technology.
Bigtincan continued to build on its diversified recurring revenue model as growth outside the USA accelerated with the European region growing 34% over PcP to hit a record of $15.6m in ARR, and verticalization continued with Retail growing 21% as the retail market grows again post pandemic.
Bigtincan Holdings Limited is pleased to invite shareholders and investors to attend a webinar where management will provide an overview of the Half Year Results for the period ending 31 December 2022. The webinar will be hosted via Zoom at 11:30 am (AEDT) on Monday 27th February 2023/ USA Sunday 26 February 7.30 pm EST.
Details of the event are as follows:
Event: Bigtincan Holdings Limited 1H FY23 Investor Webinar
Presenters: Chief Executive Officer and Co-founder, David Keane, Global Financial Controller, Cyril Desouza, Chief Product Officer Stefan Teulon, and Head of Marketing Operations, Denise Iverson.
Date and Time: Monday 27th February 2023 at 11:30 am AEDT (USA 7:30 pm EST 26 February)
Where: Zoom Webinar - details to be provided upon registration
To register your interest for the webinar please click through to the link below:
To view the Investor Presentation, please visit:
About Bigtincan Holdings Limited
Bigtincan Holdings Limited (ASX:BTH) (OTCMKTS:BTGHF) is helping the world's leading brands facilitate the buying experience of the future. Everything we offer is designed to be smart, flexible, and easily adapted to unique business processes with highly personalised experiences that people and brands love. We're on a mission to help companies deliver branded buying experiences that are engaging, personalised, provide value and guide people to the best decisions with confidence. Innovative companies like Nike, Guess, Prudential, and Starwood Hotels trust Bigtincan to enable customer-facing teams to intelligently prepare, engage, measure and continually improve the buying experience for their customers. For more information about Bigtincan, visit: www.bigtincan.com or follow @bigtincan on Twitter.
Bigtincan Holdings Limited