LiveTiles Limited Provided Update for the December Quarter

The Global software company, LiveTiles Limited (ASX: LVT) today (29 January 2019) announced an update on its activities for the quarter ending 31 December 2018. By the end of the December quarter, the annual recurring revenue grew to $22.9 million which represents an annual growth of 232.

The company also witnessed growth in its Customers and at the end of the December quarter, the company had 598 paying customers. During the quarter, the company also experienced growth in the average ARR per customer. In the last 12 months, the Average ARR per customer increased by 145 percent. The growth in Average ARR per customer was driven by strong new enterprise customer growth and increased penetration of existing customers through the Company’s ‘land & expand’ growth strategy. 

The customer highlights during the December quarter includes one of the world’s largest information technologies consulting company, a top-tier real estate services company, multinational engineering, and construction company. All these companies mentioned are based in the United States. LVTs customers also include major university in the US, a large agricultural cooperative in the US, a top-tier professional services firm in Australia, a global insurance company in the Asia-Pacific region, two government departments in Australia and a global luxury goods corporation, headquartered in Europe.

The company acquired the Hyperfish in June 2018 and by the end of 31 December 2018, the annual recurring revenue growth was more than triple. Several customers of LVT acquired Hyperfish software which forms a part of the LiveTiles Intelligent Workplace bundle. It demonstrates a highly complementary fit between LiveTiles’ suite of intelligent workplace software and Hyperfish’s artificial intelligence-powered employee profile and directory management software.

During the December quarter, the company announced the appointment of Mr. David Vander for the role of Global Growth Director. Mr. David Vander, who joined LVT as the Global Growth Director has held a senior executive position for past 16 years.

The company used A$9.633 million in its operating activities during the December quarter, where the primary source of cash outflow was through the research and development, advertising and marketing, staff costs and the administration and corporate costs. In the December 2018 quarter, LVT generated a cash receipt of $4.1 million which was up by 69% on the September quarter and up by 350% as compared to its prior corresponding quarter.

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LVT has witnessed a negative performance change of 11.11% since its inception. LVT stock has grown by 100.00% over the last ten years, although it has plunged by 29.20% over the last one year.

The company’s Net cash outflow from operating activities was $9.6 million in the December quarter. The company used A$0.104 million of cash in its investing activities and A$0.054 million in its financing activities. By the end of December quarter, the company had cash and cash equivalent of $22,457K.

The shares of LVT closed the day’s session at A$0.380, down by 5% or 0.020 points in the intraday trade, with the market capitalization of circa A$220.63 million.


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