The incredible rise of the Big Un Ltd (ASX: BIG) share price has continued today following the release of a positive announcement.
In morning trade the video technology company's shares are up almost 9% to an all-time high of $1.04. This has brought its year-to-date return to a staggering 350%.
What happened?
This morning Big Un updated its fourth quarter cash revenue guidance thanks to strong sales growth in June.
Management has increased its guidance to over $9 million, representing a 58% quarter-on-quarter increase and a 10% increase on its previous guidance.
As you can see on the chart below, this is a massive increase on the prior corresponding period and goes some way to explaining why its shares have rallied so strongly this year.
Pleasingly, management doesn't expect this growth to stop any time soon. CEO Richard Evertz stated that the company continues to experience strong demand for its video subscription products and remains confident that the trend will continue in FY 2018.
Should you invest?
I've mentioned a few times that I think Big Un is a company worth considering as an investment and continue to believe it to be the case today.
Even after its incredible gain this year, I believe the company could provide investors with strong long-term gains.
Especially with its plan to acquire the hospitality vertical from The Intermedia Group. Management expects this acquisition to provide the company with a direct relationship with over 65,000 Australian businesses including the likes of Mantra Group Ltd (ASX: MTR), Diageo, Hilton, and Marriott.
BIG intends to monetise the acquisition through the sale of video subscriptions to the Hospitality B2B customer base and other hospitality-related, value added products and services.
In light of this I would put it up there with the likes of Updater Inc (ASX: UPD) and GetSwift Ltd (ASX: GSW) as one of the best small-cap tech shares on the Australian share market today.
