It’s not just the big-name ASX tech stocks like Afterpay Touch Group Ltd (ASX: APT) that have surged higher in 2019.
Little-known software as a service (SaaS) business Dubber Corp Ltd (ASX: DUB) has seen its share price rocket more than 300% higher so far this year.
Having hit a new 52-week high in this morning’s trade, is it time that we pay attention to this hot Aussie tech stock?
Who is Dubber Corp?
Founded in Melbourne in 2011, Dubber specialises in cloud-based call recording and voice AI software and has expanded its portfolio of clients consistently over the last 8 years.
Dubber provides a variety of products and services such as its AI offering which allows customers to transcribe calls and analyse the language used to apply sentiment ratings to calls.
Now boasting a market cap of $282 million, Dubber has built its success by gaining clients across the Financial Services, Education, Retail, Automotive and Real Estate sectors.
How were Dubber’s full-year results?
Dubber reported a whopping 222% increase in active user numbers to 94,825 in its August results release, with operating revenue surging 269% to $5.54 million for the year.
Management said it had expanded its global footprint of telecommunication providers by 179% on FY18 figures to 106, as Dubber’s net loss reduced by 15% to -$9.65 million.
Dubber said it continues to expand across Australia, Europe and North America with a focus on large enterprise customers in Australia and the USA.
Key partnerships with Cisco and IBM have been strong boosts for the company’s growth prospects with a strong outlook for FY20 helped by its $22 million capital raising in April 2019.
Why has the Dubber share price exploded in 2019?
Dubber’s strong full-year result has been built on steady business expansion and customer growth throughout 2019.
The company started providing call recording and data capture for Spark New Zealand Ltd (ASX: SPK) in June 2019 with immediate deployment and no capex.
The company’s $22 million capital raising in April was a success, as the Aussie tech group looks to accelerate its growth, while Dubber started working with Optus Loop in late March.
When we think of hot Aussie tech stocks, Dubber is far from the top of most Fools’ buy lists.
However, with such strong share price growth in 2019 and consistently hitting 52-week highs, maybe it’s time to look at Dubber as a real buy in 2020 and beyond.
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Kenneth Hall has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of AFTERPAY T FPO. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.