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Why the Prophecy share price is rocketing today

The Prophecy International Holdings Limited (ASX: PRO) share price is up 17% to 45 cents today, but still down around 75% since 2015 after the enterprise software supplier failed to meet investors’ great expectations. 

The stock is up today on news that sales of its Snare software increased 67% over the first quarter of fiscal 2020 compared to the prior corresponding quarter (pcq). Sales for the quarter totalled $1.76 million versus $1.05 million in the pcq. The company flagged large sales to the likes of Gemalto, the Department of Employment, Skills, Small and Family Business (Aust) and QBE Insurance Group Ltd (ASX: QBE) in helping drive the strong quarter.

In addition to Snare software, Prophecy also sell its eMite enterprise-facing software-as-a-service platform for customer experience, contact centre & IT operations environments. 

For the financial year ending June 30 2019, Prophecy reported a net loss of $1.45 million on sales from continuing operations of $12.1 million. 

Other junior software businesses looking to catch the attention of investors include Alcidion Group Ltd (ASX: ALX) and Serko Ltd (ASX: SKO).

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