ARR grows 126% to $120.1m, Adj. EBITDA improves by $10.2m to $4.1m in transformative year
FY22 Full Year Results Announcement
Sydney, Aug 30, 2022 AEST (ABN Newswire) - Bigtincan Holdings Limited (
ASX:BTH) (BGTHF:OTCMKTS), a global software company providing a leading AI-powered sales enablement automation platform, has today released its Appendix 4E and is pleased to present commentary on its activities for the Full Year 2022 ("FY22") to accompany the lodgement of results for the full year ending 30 June 2022.
FY22 Financial Highlights
- Annualised Recurring Revenue ('ARR') of $120.1m, up 126%
- Revenue of $108.6m, up 143% pcp
- Organic Revenue $57.4m, up 31% pcp
- Gross margin of 88%, up 3% pcp
- Adjusted EBITDA of $4.1m, a $10.2m improvement pcp
- $38.9m Cash and cash equivalents
- 3 out of 4 operating cash positive quarters
- Total operating cash outflow improved by $9.8m to -$3.7m
- ARR guidance for FY23 of $137m to $143m
- Revenue guidance for FY23 of $123-128m
- Cash flow breakeven forecast for FY23
- Positive adjusted EBITDA forecast to materially exceed FY22
Bigtincan Co-Founder and CEO, David Keane, commented on the FY22 results:
"We are pleased to deliver another record result in FY22, with the Company's ARR performance coming in ahead of guidance and delivering our first ever adjusted EBITDA positive year together with a strong set of SaaS metrics.
In FY22, Bigtincan continued its strong trajectory of organic growth while adding scale through the transformative acquisition of Brainshark. We are happy with the quality of people, customers and technology that came with Brainshark and I'm very much looking forward to discussing Bigtincan's newly integrated product offerings with our enterprise customers this year.
Against the current backdrop of inflation and economic uncertainty, Bigtincan's enterprise customer base is focused on productivity for their sales teams, underlined by strong expansion sales throughout the year together with new wins globally. As we head into FY23, Bigtincan is well positioned to continue its growth trajectory with improvements expected across all key metrics as we continue to leverage our improved software platform and uplifted scale of operations."
SaaS metrics
- Lifetime Value ('LTV') $812m, up 107% pcp, with 76% CAGR since FY18
- Net Retention Ratio of 108% down 1% pcp excluding impact of Brainshark cross sell
- LTV/CAC of 4.0, up 13% pcp
- 94% of total revenue is subscription and recurring revenue based
- 33% of ARR in contracts longer than 12 months
- 78% of ARR in contracts >$100k ARR
FY22 Trading Highlights
- Acquisition and integration of Brainshark completed adding operating scale and advanced learning technology, with Brainshark synergies driving improved adjusted EBITDA.
- 260+ Features and Enhancements shipped during the year across Content, Learning and Engagement Hubs driving technology leadership.
- 2000+ customer deployments and more than 1,000,000 licensed users, with a track record of new customer wins and expansions and 31% buying 2 or more modules.
- Bigtincan continues to be recognised as an industry leader in a large and growing market space by industry research firms Gartner, Forrester, SoftwareReviews and Aragon.
- Australian patent No 2021200811 granted for a method and system for providing contextual electronic content.
FY23 Guidance
Bigtincan provides the following guidance for FY23:
- ARR in the range of $137m to $143m
- Revenue in the range of $123m-128m
- Cash flow breakeven to be achieved in FY23
- Positive adjusted EBITDA forecast to materially exceed FY22
Investor Webinar
Bigtincan Holdings Limited is pleased to invite shareholders and investors to attend a live webinar where management will provide an overview of the Full Year Results for the period ending 30 June 2022. The webinar will be hosted via Zoom at 11:00 am AEST on Tuesday 30 August 2022 / USA Monday 29 August 9:00 pm EDT.
Details of the event are as follows:
Event: Bigtincan Holdings Limited Full Year Results Investor Webinar
Presenters: Chief Executive Officer and Co-founder, David Keane and Global Financial Controller, Cyril Desouza
Date and Time: Tuesday 30 August 2022 at 11:00 am AEST (US 9:00 pm EDT 29 August)
Where: Zoom Webinar - details to be provided upon registration
To register your interest for the webinar please visit:
https://www.abnnewswire.net/lnk/PFIG6G76
To view the FY22 Results Presentation, please visit:
https://www.abnnewswire.net/lnk/R0DREG5X
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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