Livetiles Limited’s Shares Mounted On ASX After Its ARR Reached To $18.6 Million


LiveTiles Limited (ASX: LVT) is mainly involved in the operations of providing digital workplace software. On 12 October 2018, the company announced that its Annualized Recurring Revenue (ARR) has been increased by 272 percent to $18.6 million compared to previous year as at 30 September 2018. Following this news, the share price of the company substantially increased by 10.989 percent as on 12 October 2018.

In the September quarter, the company witnessed a $3.6 million increase in the ARR. The Company’s N3 team is generating high and consistent volumes of leads and sales opportunities across the United States, leading to several new customers being secured from the N3 channel in the September quarter. The company is expecting that N3 channel will deliver strong pipeline and revenue growth throughout FY 2019.

Currently, the company is having a strong partnership with Microsoft, driven by the integration of LiveTiles’ products with Microsoft’s two fastest-growing products – Office 365 and Azure. In August 2018, AI Spark Partner Program which is designed in collaboration between LiveTiles and Microsoft was launched to accelerate the rate at which partners can deploy AI solutions for their customers by lifting the AI capabilities of participating Microsoft partners. The Program’s launch has generated strong interest in several Microsoft partners. In combination with a wide range of co-marketing initiatives with Microsoft, this program continues to create a strong awareness of LiveTiles’ offering and robust demand. The Microsoft’s global Ignite conference which occurred in Las Vegas in the month of September was majorly sponsored by LiveTiles. This conference was attended by over 25,000 participants and it was a major marketing event which generated a substantial uplift in LiveTiles’ sales pipeline.

In August 2018, the company successfully raised $25 million through a share placement program from its new and existing domestic and international institutional investors. In FY 2018, Annualized Recurring Revenue (ARR) increased by 275 percent to $15 million compared to last year. The growth in ARR is mainly due to Company’s growing sales and marketing footprint, development of the Company’s partner channel, ongoing product innovation and strengthening brand awareness. The company’s subscription revenues increased from $1.77 million in FY 2017 to $5.69 million in FY 2018.  The total operating expenses of the company substantially increased from $10.17 million in FY 2017 million to $25.89 million in FY 2018. Driven by the increased operating expenses, the net loss after tax of the company increased from $7.39 million in FY 2017 to $22.05 million. As at 30 June 2018, the company was having a cash balance of $17.84 million. Driven by the on-going investment in direct sales and marketing, strategic relationship with N3, growing partner channel, and ongoing co-marketing initiatives and close partnership with Microsoft, the company is expecting strong growth in FY 2019.

In the last three months, the share price of the company decreased by 15.74 percent as on 11 October 2018. LVT’s share traded at $0.505 with a market capitalization of circa $250.97 million as on 12 October 2018 (AEST 3:28 PM).

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