Q4 FY22 Appendix 4C and Commentary
Sydney, July 27, 2022 AEST (ABN Newswire) - Bigtincan Holdings Ltd (
ASX:BTH) (BGTHF:OTCMKTS), owner of Bigtincan and Brainshark, Australia's largest publicly listed sales enablement platform and Software-as-a-Service (SaaS) provider of global sales training, sales content delivery and sales meeting facilitation, has today released its Appendix 4C and Quarterly activities report and is pleased to present commentary to accompany the lodgement of this report for the quarter ending 30 June 2022 ("Quarter", "Reporting Period").
Q4 FY22 Highlights
- Total quarterly customer cash receipts of $31.3m, an increase of 113% from Q4 FY21 cash receipts of $14.7m, and in line with the Company's forecasts for FY22.
- Cash operating payments of $31.2m (including Brainshark integration investments), a decrease of $2.6m from Q3 FY22.
- Bigtincan achieved its third consecutive operating cash positive quarter.
- Bigtincan held $39.3m cash and cash equivalents as at 30 June 2022.
- Annualised Recurring Revenue (ARR) of $120m at 30 June 2022, a 126% increase from 30 June 2021.
Q4 FY22 Cash Flow
Bigtincan achieved customer cash receipts for the Quarter of $31.3m, an increase of 113% from Q4 FY21 cash receipts of $14.7m.
Quarterly cash operating payments were $31.2m for the Quarter, inclusive of Brainshark integration investments, an increase of 112% from $14.7m in Q4 FY21, and a decrease of 8% from the previous March 2022 quarter of $33.8m. This includes fees paid to Directors of $216k for the Reporting Period.
Investments into long-term product development were $4.7m for the Quarter, a slight increase from Q3 FY22 as Bigtincan made additional investments in the Data Products group in this Quarter.
The Company held total cash and cash equivalents of $39.3m as at 30 June 2022, with a strong accounts receivables position heading into the first quarter of FY23.
Operating Cash Position
Bigtincan achieved its third consecutive Quarter of positive net operating cash in Q4, which included $0.8m in costs related to the integration of Brainshark into the core business. Backing these costs out, the underlying net cash from operating activities would have been $0.9m.
Cash Outlook
Based on the structure of the Company post completion of the Brainshark acquisition, Bigtincan reconfirms the target for Cash Flow Breakeven to be achieved in FY23. Bigtincan expects that Operating Expenses, capitalised R&D spending, PPE and lease liabilities will reduce within FY23 to be in the range of $31m-$33m per quarter.
ARR Growth
Bigtincan grew Annualised Recurring Revenue to $120m from the $99m announced at the Brainshark acquisition in August 2021, and from $53.1m at end June 2021, with growth coming from new logo deals and expansion sales to both the existing customer base and customers added though Brainshark.
Enterprise Customer Base Leads to Increase in Multi-year deal ARR coverage
Bigtincan's continued focus on enterprise customers led to continuing growth in multiyear contracts, with contracts in excess of 12 months now comprising 33% of Bigtincan ARR as of end June 2022, showing the long term revenue coverage of the business.
FY22 EBITDA Outlook
As announced in Bigtincan's May 2022 Business Update, Bigtincan expects to report its maiden Adjusted EBITDA positive full financial year results for FY22, with a forecast uplift from 1H FY22 Adjusted EBITDA of $1.2m.
Product and Technology Update
In Q4 FY22, Bigtincan continued its track record of quarterly releases with over 70 capabilities released across the 3 core Hubs. Q4 saw the general release of updates to both Learning Hub and Engagement Hub that bring the Bigtincan design system to these products allowing users to gain a unified experience across each of the Hubs.
*To view the full quarterly report, please visit:
https://abnnewswire.net/lnk/50OVJ6FM
To view the Commentary Presentation, please visit:
https://www.abnnewswire.net/lnk/bth
About Bigtincan Holdings Limited
Bigtincan Holdings Limited (ASX:BTH) (OTCMKTS:BTGHF) is helping the world's leading brands facilitate the buying experience of the future. Everything we offer is designed to be smart, flexible, and easily adapted to unique business processes with highly personalised experiences that people and brands love. We're on a mission to help companies deliver branded buying experiences that are engaging, personalised, provide value and guide people to the best decisions with confidence. Innovative companies like Nike, Guess, Prudential, and Starwood Hotels trust Bigtincan to enable customer-facing teams to intelligently prepare, engage, measure and continually improve the buying experience for their customers. For more information about Bigtincan, visit: www.bigtincan.com or follow @bigtincan on Twitter.
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