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Damstra Holdings Ltd(ASX: DTC) shares are soaring after the company released its latest quarterly activity report and results. Right now, the Damstra share price is trading at 90 cents – 13.21% higher than yesterday’s closing price.
Let’s take a closer look at the company’s latest results.
The quarter that’s been
Investors are driving the Damstra share price higher after the company reported cash receipts totalling $10 million and $9.1 million in revenue over the quarter ended 30 June 2021. Both figures are record-breaking for Damstra.
The company’s annual recurring revenue reached $35 million over the quarter – 65% more than the prior corresponding quarter.
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Shares in
Damstra Holdings Ltd (ASX: DTC) are flying today after the company announced it has secured a new $20 million debt facility. At the time of writing, the Damstra share price is 88 cents – 6.02% higher than its previous closing price.
Damstra is a software company providing workplace management solutions and safety requirements.
Let’s take a closer look at today’s news from Damstra.
New debt facility
According to Damstra, the new debt facility will put it in a better position to fund its future growth.
Additionally, the new facility offers more flexible covenants and interest-only repayments. Damstra states this will improve its operating cashflow and provide extra capital to support its global growth ambitions.
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.