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Vault Intelligence maintains $6 million revenue guidance

The company is experiencing growth and increased demand.
A vault
Vault will hold its AGM in Sydney on Friday

Vault Intelligence Ltd (ASX:VLT) has forecast it continues to expect $6 million of contracted annual recurring revenue (CARR) by the end of the 2018-19 financial year.

The company reported today it was “in its strongest position since listing on the ASX” on July 1, 2016 as part of its reverse takeover of Credo Resources Limited (ASX:CRQ).

READ: Vault Intelligence director demonstrates faith in company by on-market share purchases

The software-as-a-service (SaaS) company’s cash receipts are growing by 10% quarter-on-quarter, reaching a record $1.12 million in the September 2018 quarter.

Vault’s September 30, 2018 CARR was restated as $3.72 million three weeks ago.

 

Today the SassS provider affirmed its original CARR forecast continued to be $6 million, to be achieved by end of financial year

The company said: “Vault believes with the increased momentum in V3 sales and opportunities, anticipated sales from CV3 in China, launch of the global digital sales platform and revenue from Solo sales that the original forecast of $6 million CARR for financial year 2018-19 is achievable with strong quarters anticipated in (the) March and June quarters of the financial year.”

Vault reported it was funded, had a strong balance sheet and was resourced to deliver sales revenue from its pipeline.

READ: Vault Intelligence confirms Asia-Pacific distribution partner for Solo product line

The company gave an update on its products and pipeline, saying its opportunities for its Vault Solo workforce management ecosystem were “growing exponentially”.

Vault plans to launch Solo’s digital sales platform later this financial quarter, to further drive sales.

Reporting on its enterprise-level environmental, health and safety platforms, Vault said “Vault Enterprise Version 3 (V3) (was) delivering sales and ARR growth and gaining further momentum with recent enhancements and a healthy sales pipeline.

“China Vault Enterprise Version 3 (CV3) now in production mode and ready to drive revenue from the China market.”

READ: Vault Intelligence has new substantial shareholder in Regal Funds Management

Vault will hold its annual general meeting (AGM) this Friday in Sydney.

Among the resolutions shareholders will vote on is a proposal to consolidate the company’s shares.

One share would be issued to investors for every 10 held under the proposal.

Vault’s AGM this Friday, November 23, 2018 will be held at 11am at Level 38, Aurora Place, 88 Phillips Street, Sydney, New South Wales.

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