Why the Damstra (ASX:DTC) share price is jumping 9% higher today
James Mickleboro | April 27, 2021 10:19am |
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Damstra Holdings Ltd(ASX: DTC) share price is jumping higher.
At the time of writing, the integrated workplace management solutions provider’s shares are up 9% to $1.21.
Why is the Damstra share price charging higher?
Investors have been buying Damstra’s shares today after it released a solid third quarter update.
According to the release, for the three months ended 31 March, Damstra recorded revenue of $6.9 million. This was up 66% on the prior corresponding period.
This strong quarter takes the company’s annualised recurring revenue (ARR) to $33 million, which is almost double what it reported a year ago.