There have been a number of big movers at the small-end of the market today.
Three which caught my eye are listed below. Here's why they are surging higher today:
The Bigtincan Holdings Ltd (ASX: BTH) share price has climbed 15% higher to 46 cents following the release of its latest quarterly update. According to the update, the sales enablement and enterprise mobility software provider reported cash receipts of $4.6 million during the second quarter. This was a touch lower than the prior quarter's $4.8 million, but investors don't appear to mind judging by the share price reaction. Although I wasn't blown away by this quarter, I like Bigtincan and think it is one to watch. Especially with its acquisition of Contondo. This is expected to support the company's strong position in artificial intelligence-powered sales enablement automation.
The Livetiles Ltd (ASX: LVT) share price pushed 6% higher to 60 cents on Monday despite there being no news out of the technology company. Investors have been fighting to get hold of its shares this year thanks partly to its partnership with Microsoft in the AI space. Furthermore, the company recently reported impressive annualised subscription revenue (ASR) growth. As of December 31, ASR reached $6.9 million, up from $2 million a year earlier. This translates to ASR growth of 245% over the past year. Like Bigtincan, I think LiveTiles is an exciting share and well worth taking a closer look at today.
The Zip Co Ltd (ASX: Z1P) share price has been the best performer of the lot and jumped a massive 22% to $1.16. Earlier today the fintech company released its quarterly update which revealed transaction volume of $140 million, up $45 million on the first-quarter. This was a 47% quarter-on-quarter increase and exceeded its previous guidance. A key driver of this growth has been the addition of companies such as Kogan.com Ltd (ASX: KGN) and Anaconda to its zipPay buy now, pay later platform. Ultimately this led to record quarterly revenue of $9.3 million, up 35% on the first-quarter.
