Whispir’s (ASX:WSP) FY22 revenue shoots up 48%; here’s how shares are reacting

3 min read | August 17, 2022 01:09 PM AEST | By Ritwika

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Whispir’s (ASX:WSP) FY22 revenue shoots up 48%; here’s how shares are reacting — Image source: © Lovelyday12 | Megapixl.com

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Highlights:

Whispir released its fully audited financial results for FY22 on the ASX today.

In FY22, the company has delivered AU$70.6 million in revenue, up 48%.

Whispir has reported EBITDA loss of AU$10.6 million in the given period.

Whispir shares though, opened in green territory, soon started marching towards red zone on the ASX today.

Leading Australian software and service provider Whispir Limited (ASX:WSP) shared its fully audited financial results for FY22 (ended on 30 June 2022) on the ASX today, featuring a revenue gain of 48% in the given period. Furthermore, the company firmly believes that it will deliver positive EBITDA in FY23.

Followed by this update, Whispir’s share price gained by 2.092% to AU$1.22 per share at 10:42 AM AEST. However, at around 12:33 PM AEST, the stock was 1.255% down at AU$1.180 apiece.

In a year’s time, Whispir’s share price has declined by 45.12% on the ASX. Moreover, Whispir’s YTD-based share price has fallen by 46.36% (as of 11:55 AM AEST on the ASX today).

Details of Whispir’s FY22 results:

In FY22, Whispir reported record revenue of AU$70.6 million, up 48% compared to the previous corresponding period (FY21).
The software company has also reported a robust three-year CAGR growth in key revenue metrics – revenue by 31.4% and ARR by 27.6%.
The company’s operating expenses have fallen in FY22. The operating expenses in Q4 FY22 came down by 11% compared to Q3 FY22, indicating a successful efficiencies program.
On the other hand, Whispir reported an EBITDA loss of AU$10.6 million, which was less than the company’s expectation.
Whispir ended the financial year with a strong balance sheet with cash of AU$26.1 million and zero debt.

Image source: © Lovelyday12 | Megapixl.com

Some other milestones achieved by Whispir in FY22:

During the given period, the department of Education, South Australia, chose Whispir for 900 schools.
Whispir also secured an 8-year contract with the Australian government department in FY22.
The company developed some strategic partnerships with telecommunication firms which will help Whispir to accelerate its future growth in Asia operations and prevents the opportunity for competitors to enter the market.
The company’s new customer growth increased significantly by 233% in North America in the given period.
Recovery from the global pandemic allowed significant revenue opportunities for Whispir.

Whispir’s outlook for FY23:

Whispir marked a strong entry in FY23 with a cash balance of AU$26.1 million and zero debt. Furthermore, the company is expecting to deliver revenue growth in all regions and improved gross margins as regions scale. Furthermore, strict cost management in FY22 made the company confident to deliver a positive EBITDA in FY23.

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