Ann: Q2 ARR grows to $52.7 million, page-2

16 January 2020
Q2 ARR grows to $52.7 million
• Annualised recurring revenue1 (ARR) reaches $52.7 million as at 31 December 2019, up from $42.9 million as at 30 September 2019. ARR has grown 130% in the last year and is up 7.6x in 2 years

• Q2 FY20 saw strong organic ARR growth of $5.1m from 30 September, augmented by acquired growth of $4.7m coming from the acquisition of CYCL, completed in early December

• CYCL acquisition completed in early December with integration progressing well

• Organic growth from continued focus on bundled and integrated offerings, which carry a longer sales cycle but higher average contract value and retention rate. Q2 saw continued growth in average contract value, with this growth achieved despite a higher churn rate among smaller customers and adverse FX translation impacts

• LiveTiles continues to expect another year of strong customer and revenue growth in FY20