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9 Spokes International Limited (ASX:9SP) provides cloud-based business solutions. The Company offers cloud services brokerage, including an online marketplace platform for third-party applications to customers and their end users. 9 Spokes International operates worldwide. The company helps the SMEâs evolve the way they do their business and resultingly enhancing their business performance. It collates their data in such a manner that they can easily see and evaluate their progress. The SMEâs get to connect their cloud software with the company and get to evaluate their performance and also get a complete picture of the business performance through a dashboard in a crisp and concise way.
The company, today on 12 March 2019, has come up with an update that it has entered into a global collaboration pact with the VISA USA. This framework will provide both the companies to collaborate and to potentially benefit their businesses. The agreement does not infer any benefits or obligations to any of the parties. Through this pact, the companies will collaborate on the mutual areas of interest.
The companyâs CEO Mr. Adrian Grant has said that the management is delighted to be exploring new opportunities with the VISA and this framework is expected to allow the company to the various areas of mutual interest as well as the access the ripe market opportunities. The management has been working very hard on its distribution model, to give it the needed transformation so that it can reach and cater to a broader market and deepen its project pipelines with the key Global banks. Mr. Adrian also concurred to the fact that the company is committed to providing rich content & in-depth insights to its ever-growing client base and predominantly to its SMB customers. It is for these reasons the CEO of the company feels that there is a need to collaborate with the more innovative companies like VISA.
As per the interim financial statements as on the 30th of September 2018, the company had reported a revenue of ~NZ$4.96 Mn vis-Ã -vis ~NZ$2.27 Mn. This was up by ~NZ$ 2.67 Mn, hence posting the growth of 119% on the prior corresponding period.
On the price-performance front, the stock has posted the YTD return of 164.71%. The company also has posted returns of 136.84% & 221.43% over the past three & one-month period, respectively. At the time of writing (12 March 2019, AEST 02:40 PM), the stock of the company was trading at a price of $0.048, up 6.667% during the dayâs trade with a market capitalization of ~$ 22.29 Mn. The stock opened the day at $ 0.052, reached the dayâs high of $ 0.057 and touched the dayâs low of $ 0.047, with an average daily volume of more than 32,260,287. It had a 52-week high price of $ 0.062 and a 52-week low price of $ 0.010, with an average volume of 4,392,045 approximately.
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