[ad_1]
MELBOURNE, Australia, April 27, 2022 /PRNewswire/ — Dubber Corporation Limited (ASX: DUB) (‘Dubber’ or ‘the Company’), the leading global Unified Call Recording & Voice Intelligence cloud platform which provides innovative world leading products directly via Service Provider networks, today released its report on the Company’s operating activities along with the Appendix 4C for the quarter ended 31 March 2022.
Highlights within the Quarter:
- ARR increased by $5.1m QoQ to $55.1m (62% pcp)
- Revenue for 12 months to March 2022 was $33.7m consistent with reported ARR at March 2021
- Revenue increased by $900,000 QoQ to $9.25m (40% pcp)
- Cash receipts increased by $2.9m QoQ to $8.5m
- Net cash outflows decreased by $7.1m
- Dubber subscribers exceed 540,000
- Launch of Notes by Dubber at Mobile World Congress
- Finalised multiple network UCR agreement with TDC Nuuday of Denmark
- Established core infrastructure for acceleration of future growth
- Dubber is fully funded with in excess of $97.5m cash on hand
- A video update is available at the following link: Dubber Quarterly Update
Continued growth in key metrics, reduction in cash outflows, expansion of Total Addressable Market
The March quarter saw the Company continue to grow its customer base and revenues, scale its core infrastructure to accelerate future growth while reducing cash outflows.
Most of the Company’s activities were conducted in the UK, Europe and North America and saw shifts in foreign exchange rates. For reasons of comparative performance evaluation, a constant currency comparison has been added to applicable metrics.
Subscribers
In a quarter which is typically subject to seasonal fluctuations due to telecommunications service provider ’embargo’ periods, the Company added $5.1m to its Annualised Recurring Revenue, reflecting growth of circa 10% in the quarter via a combination of ‘standard’ SaaS and Foundation Partnership subscriptions. On an adjusted basis, which takes into account foreign exchange fluctuations, the Company has ARR of $55.1m. ($56.8m on a constant currency basis).
The Company’s ‘standard’ SaaS subscriptions grew organically by over 30,000 during the quarter and the Company was able to secure Foundation Partner agreements whereby a Dubber service is embedded as a standard feature of every subscription on a network. As previously stated, the Company continues a policy of not including Foundation Partner Program subscriptions in its overall numbers for reasons of consistency and commercial sensitivity. The Company will continue to re-assess its reporting of these subscriptions on an ongoing basis.
Annual Recurring Revenue (ARR)
The Company’s ARR is calculated as the next 12 months of subscription revenue net of any incentives. Demonstrating this, the Company reported an ARR number of $34m to the ASX on 29 April 2021with actual revenue for the 12 months to March 31 2022 of $33.7m in-line.
The Company advises that its December 2021 Monthly Recurring Revenue (MRR) figure reported in the Company’s most recent investor presentation contained an item of professional services revenue, which was non-recurring, thereby creating an incorrect expectation of $450k of actual revenue in the March quarter. The reported ARR was correct . For commercial reasons, the Company reached an agreement with a major global service provider, whereby it would provide a subsidy in Q3 FY22 as part of offsetting cancellation costs associated with the migration of a substantial legacy recording customer base to Dubber. Quarterly revenue relating to this service provider is forecast to be in excess of $700k. The Company’s current reported ARR is unaffected and as previously stated is expected to generate ~$55.1m revenue over the next 12 months to 31 March 2023.
Revenue
Revenue for the quarter grew by over $900,000 to $9.25m ($9.85m on constant currency basis), an increase of 40% pcp. Total Operating Revenue for FY2021 was $20.33mthis has been surpassed in the third quarter with the Company recognising revenue in excess of $25.6m for FY2022 to date.
Cash Receipts, Net Outflows and Current Position
Cash receipts for the quarter were $8.5m ($9m on constant currency basis) to bring receipts for FY2022 to $23m.
The Company was able to significantly reduce its net cash outflows without impacting its underlying growth strategy. Net cash outflows were reduced by $7.1m compared with the previous quarter as a result of the combination of increased receipts and …
Full story available on Benzinga.com
[ad_2]
Source link
