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A hat-trick of bumper months? CV Check Limited continues to clock robust sales

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Summary

  • CV Check Limited has been recording strong sales in the recent months.
  • The Company’s strong sales in February were driven by strong trading conditions, and the same continues in the current month.
  • CV1 plans to conclude the acquisition of Bright Technologies Limited at the beginning of April 2021.

Breakthrough screening and verification services company CV Check Limited (ASX:CV1) has announced registering a new all-time record month of sales and the 12-month booked ARR based on the robust trading conditions in February 2021.

The Company has been witnessing a strong couple of months during the current year in terms of sales. On top of this, the run of good luck continues in March with CV1 registering strong sales in the current month.

The Company believes that the robust growth in sales is being driven by the new wins and order strength from established customers. For the half year ended 31 December 2020, CV1 recorded spike in its revenue due to strong order growth.

PREVIOUS UPDATE: CV Check Ltd (ASX:CV1) Delivers Sustainable Growth in 1HFY21, Reports Record Numbers

CV1 is also on schedule to conclude the acquisition of Bright People Technologies in the next month.

CV1 had inked a deal with CI6 Pty Ltd’s shareholders in relation to the acquisition of 100% of C16’s issued capital. C16 fully owns Bright People Technologies Pty Ltd and related group businesses.

Bright People Technologies is a cloud-based workforce credentials and compliance software company that was established in 2002 and has recently built its next-generation platform, Cited.

  • Bright People serves blue-chip customers and offers cloud-based supply chain integration.
  • Credentials-based ecosystem facilitates reusing of information by individuals throughout their complete work lifecycle.
  • Bright People recorded revenue worth A$4.9 million and EBITDA of A$1.7 million in the financial year 2020.

DECEMBER QUARTER UPDATE: CV Check (ASX:CV1) in sweet spot post record-setting December quarter

CV1 anticipates that joining forces with Bright People Technologies will help develop a credentials-based workforce management capacity, which will incorporate Bright’s workforce compliance ability as well as CV1’s highly automated verification workflows and HRIS integrations.

CV1 stock was noted trading at AUD 0.150, up 3.448% from the previous close on 23 March 2021 at 3:22 PM AEDT. The company has a market capitalisation of AUD 51.50 million.

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