Whispir shares shout on latest quarter
Whispir shares jumped on Wednesday after the communications workflow platform provider released its quarterly cash flow and activity report for June 2021. The global SaaS company highlighted that it continues to grow Annual Recurring Revenue (ARR), cash receipts and new customers as the structural shift towards digital stakeholder engagement continues across the globe.
Whispir’s Q4 ARR was $53.6 million representing an increase of 28.5% on the prior corresponding period and 6.6% up on the March quarter. This quarter on quarter growth was largely driven by existing customers increasing their usage on the Whispir platform, despite onboarding 51 net new customers during the Quarter taking total customers to 801 at 30 June.
Customer cash receipts in Q4 were $13.5 million, up 18.9% on pcp reflecting strong underlying business growth and a reduction in receivables.
The company said it will enter FY22 in a strong financial position to continue funding its ongoing product development and customer growth – in particular in the attractive North American market – with a strong cash and equivalents balance of $49.2 million at 30 June.
Throughout the quarter good progress was made in building prediction, detection and automation capabilities and enhancing platform functionality. Whispir completed a range of projects that enhance accuracy for message type prediction and tone of voice analysis and built an algorithm that allows the measurement of engagement across all channels.
The company now remains focused on continuing to increase customer numbers, platform usage and revenue performance across ANZ, Asia and North America in line with its long-term growth strategy.
Commenting on the Quarter, Whispir CEO Jeromy Wells said, “The structural shift by organisations to digital stakeholder communication continues to gain momentum and we are seeing this through new customer sign-ups and increasing usage across our existing customer base. To capitalise on this growing demand, we are investing in artificial intelligence and machine learning to accelerate the development of our data-led product roadmap. Sales and marketing activities also continue to be a focus as we support new and existing customers across all key regions, including our largest market opportunity in North America.”