A great quarterly report for LiveHire who is consistently kicking goals, well done team.
June Quarter 2017 Highlights
• Talent Community Connections (TCCs) continued to increase exponentially, hitting 362,130 TCC, achieving 20.7% QoQ growth (Q3 FY17 300,103).
• Cash receipts increased 30.3% QoQ to $330k (Q3 FY17 $253k), directly reflecting the strong increase in TCCs.
• June quarter delivered a significant expansion into the Australian Healthcare vertical, setting LiveHire up for continued growth in the sector across all states. Bupa expanded further across its organisation (IT division), and both Queensland Health (80,000+ employees state-wide), Australia’s largest public health service provider, and Barwon Health (6,000+ employees), one of the largest and most comprehensive regional public health services in Australia, joined the LiveHire ecosystem, establishing Talent Communities for long-term growth.
• Subsequent to quarter end, LiveHire entered the Mining & Resources industry via the signing of a Cornerstone client, Roy Hill (1,600+ employees), which has successfully launched its Talent Community organisation-wide.
• Entered two new verticals: Food Retail with Harris Farm stores enterprise wide and Accommodation with Radisson Blue Hotel Sydney. Strengthened market presence in Retail with the launch of the Reece Talent Community.
• Continued to strengthen the team, the platform infrastructure, and the client prospect pipeline for rapid scaling in the next phase of growth in FY18. Specifically, advanced plans are in place to expand into: (i) Mining and Resources industry; (ii) Retail industry for high volume recruitment campaigns; and (iii) international opportunities with channel partners and RPO.
• Very strong balance sheet of $17.75m cash at bank as at 30 June. The Company remains debt free, with a clear line to cash flow positive on forecasted capital expenditure.
DYOR
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