Another strong solid qtrly, not exceptional but showing the company is still growing solidly and being well managed.
Key highlights:
Users up (3.55mil) up 6.5% on previous qtr
Active users (1.28mil) up 4% on previous qtr
YoY Revenue growth in Q2 expected to be in line with Q1 - 91%. That would be over $2mil for Q2..... that is a $1mil jump in revenue next qtr.
This is backed up by the growing sales pipeline of $3.5mil (USD) over next 90days.... this has grown by 75% YoY.
Revenue qtr on qtr down slightly (maybe 6-8%).
Explained as the deal size is getting bigger (up from $32k to $70k) deals are taking slightly longer to close - hence the sales pipeline growing... eg; the deals will move into in next qtr... which also explained by the large anticipated jump for next qtr
This growth will be supported by the increase in staff hires completed this qtr
The Mom365 partnership saw positive impact at the end of qtr, expects that to grow in Q2
In summary the company is still focused and executing on their growth strategy. Another solid quarter of business executed by management, well done....... I'm keen to see how big the Xmas season printing growth revenue for this year..... based on the much larger user base and active users..... it should see some very good growth.
TNY Price at posting:
$2.41 Sentiment: Hold Disclosure: Held
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