The GetSwift Ltd (ASX: GSW) share price hit a record high of $1.17 today as investors continue to bid up the software-as-service logistics business on its perceived potential.
GetSwift has developed what it describes as delivery management software that helps large businesses manage their physical postal delivery obligations via sophisticated tracking and support capabilities.
Earlier in July it reported that its software has now helped make some 2 million deliveries globally and it recently raised $24 million from investors at 80 cents per share to help grow the business via technology investments and new client wins.
The company reports that its fee model is to simply charge a client 29 cents per delivery, although volume discounts are available for clients involved in more than 5,000 deliveries per month.
The company recently announced an agreement with pizza delivery giant Pizza Hut and Australia's most valuable company in the Commonwealth Bank of Australia (ASX: CBA).
According to Commsec the company now has a value around $60 million, but posted just $114,000 in revenues for the six-month period ending December 31 2016. For the quarter ending March 31 2017 revenues were just $54,000 and the company posted an operating cash loss of $384,000. Whether it can deliver over the long term for investors remains up for debate.
