Q3 FY22 Quarterly Cash Report and Presentation
Total cash receipts increased 181% from Q3 FY21 as Bigtincan achieved an operating cash positive quarter. Launch of new products positioning the Company for continued growth.
Q3 FY22 Cash Flow Highlights
- Total quarterly customer cash receipts of $34.3m, an increase of 181% from Q3 FY21 cash receipts of $12.2m, and on track against the Company's forecasts for FY22.
- Cash operating payments of $33.8m including Brainshark integration investments.
- Bigtincan achieved $0.5m in positive operating cash for the Quarter, including payments of $0.6m in costs related to the integration of Brainshark.
- Bigtincan held $45.4m cash and cash equivalents as at 31 March 2022.
Q3 FY22 Trading Highlights and Outlook
- Bigtincan was awarded a Gold Medal in the 2022 SoftwareReviews Sales Enablement Data Quadrant
Buyers Guide Report.
- Bigtincan conducted its FY22 Investor Product and Tech day detailing the Company's product strategy.
- New wins showcased the growing strength of the multi-Hub product model.
- Product launches during the Quarter included launch of VR Showrooms, and Bigtincan for Salesforce demonstrate innovation and leadership in the market.
- Bigtincan is on track to achieve or exceed $119m in ARR and $109m revenue for FY22.
Q3 FY22 Cash Flow
Bigtincan achieved customer cash receipts for the Quarter of $34.3m, an increase of 181% from Q3 FY21 cash receipts of $12.2m and an increase of 30% from the previous quarter Q2 FY22 of $26.3m.
Quarterly cash operating payments of $33.8m including Brainshark integration investments was an increase of 115% from Q3 FY21 of $15.8m, and an increase of 34% from the previous Q2 FY22 of $25.2m. This includes fees paid to Directors of $277K for the Quarter.
The Company held total cash and cash equivalents of $45.4m as at 31 March 2022, with a strong accounts receivables position heading into the last quarter of FY22.
Operating Cash Position
Bigtincan achieved $0.5m in positive operating cash for the Quarter, which included $0.4m 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.
Investments in Infrastructure to Support Future Scale and Growth
Bigtincan continued to make investments in systems infrastructure during the Reporting Period, adding to its global footprint with expansion in capacity in North America, Europe and Asia/Pacific to support future customer growth.
This investment inflated operating costs for the quarter by ~$2.0m, of which $1.2m is non-recurring, across server and hosting infrastructure, supporting tools for reporting, and data processing technologies.
Investments into long-term product development continued with $4.4m invested in Q3 FY22 compared to $4.9m in Q2 FY22. These projects included:
- Building a unified integrated platform with consistent appearance and shared services for Bigtincan's main products.
- Data science projects involving analytics and machine learning to discover patterns of behaviour in user interactions, and to recommend both content and user actions to take to maximize the chance of success.
- Exploring new areas including the practical use of augmented reality (AR) and other virtualisation technologies in retail sales, coaching and learning environments.
In Q3 FY22, Bigtincan continued its track record of quarterly releases with over 50+ capabilities released across the 3 core Hubs.
Key features in the Quarter included:
- Enhanced Search
- Coaching AI
- Call Intelligence, and
- Enhanced UI/UX
Importantly, Bigtincan announced and shipped two strategic products; Bigtincan for Salesforce and VR Showrooms based on Bigtincan's ongoing investment into Metaverse technologies. Details of these releases are available on the press release section of the Bigtincan website.
Competitive Market Development - 2022 Sales Enablement Data Quadrant
During the Reporting Period, Bigtincan was awarded a Gold Medal in the 2022 SoftwareReviews Sales Enablement Data Quadrant Buyers Guide Report, with Bigtincan ranked #1 by Users for Vendor Capabilities and Product Features. This level of market validation against direct competitors shows the power for the Bigtincan platform.
Bigtincan Wins 7th consecutive Stevie Award for Sales & Customer Service
During the Reporting Period, Bigtincan won a Silver 2022 Stevie(R) Award for the Sales Enablement Solution category in the 16th annual Stevie Awards for Sales & Customer Service, marking its 7th year receiving the prestigious award. The Stevie Awards for Sales & Customer Service are considered among the world's top honors for customer service, contact centers, business development, and sales professionals.
New Customer Wins and Expansion
During the Quarter, Bigtincan continued its track record of new customer wins and expansions with wins including; Lumen, Lionco, Informa Markets, Panasonic, Genentech, American Express Travel, Takeda Pharmaceuticals, Abbott, Guardian, Arctic Wolf Networks and Clarivate.
Commenting on the ROI that the Bigtincan platform has for customers, Ed Medeiros, Head of Sales Training, and Development for Clarivate said "Bigtincan provides a great user experience that we can create in a fraction of the time our legacy platforms required. It has allowed us to innovate and build at scale quickly."
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About Bigtincan Holdings Ltd
Bigtincan Holdings Ltd (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.
Bigtincan Holdings Ltd