Kyckr (ASX:KYK) reports another consecutive quarter of record growth

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Kyckr (ASX:KYK) reports another consecutive quarter of record growth

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ASX KYK, ASX KYK share price, Kyckr revenue, ASX Kyckr quarterly results
Image source: © Kentoh | Megapixl.com

Highlights

  • Australian B2B information service firm Kyckr delivered solid revenue growth for the 4th consecutive quarter.
  • Annual recurring revenue grew by 206% on pcp. 
  • KYK booked record quarterly cash receipts of AU$1.65M. 

The shares of Australian B2B information service firm Kyckr Limited (ASX:KYK) have marked a strong revenue of nearly AU$885K in Q2FY22, reflecting the 4th consecutive record quarter.

Key Highlights

  • Revenues of KYK were up 2% from the last quarter, reflecting a 42% increase on pcp.
  • The ending annual recurring revenue (ARR) significantly increased by 206% on pcp, stood at AU$2.29M, reflecting a 17% increase from the last quarter.
  • KYK’s ending net revenue (NRR) was up 122%.
  • With the management focused on the cost of acquisition reduction and gross margin improvement, partner revenue increased by 263% on pcp, while the enterprise division grew by 18% on pcp.
  • KYK also achieved record quarterly cash receipts of AU$1.65M along with 100% client retention.
  • KYK was able to outpace the COGS on its solid revenue growth. However, careful cost management was offset by increased technology & product investment.

Related read - EarlyBirds adds another feather to its cap, wins top B2B honour

Today, the stock KYK was spotted trading flat at 5.1 cents at 2.03 pm AEDT.

Bottomline

Although experts were concerned about KYK’s stock performance, these solid quarterly results are likely to add significant value to KYK’s stock price.

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