Bidenergy Provided its December 2019 Quarterly Results

  • Jan 20, 2020 AEDT
  • Team Kalkine

BidEnergy Limited (ASX: BID) has provided its quarterly results for the period ended 31 December 2019.

  • Expected Group Revenue increased by 18% to $9.6 million Quarter on Quarter.
  • Annualised subscription revenue increased by 20% to $6.5 million.
  • Annualised Rebate Revenue went up by 14% to $3.1 million.
  • iSelect bill parsing service launch went live on 17 January 2020.
  • BID continues to progress multiple paid pilot programs and proof of concept initiatives across the globe for multiple services supported by BID’s unique RPA platform.
  • BID noted a low churn of 3% annualised.
  • Cash balance at 31 December 2019 stood at $8.1 million.

At AEDT 1:29 PM, BID shares are trading at $1.11, up 11% from its previous close.

 

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