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Why the Livehire share price rebounded today

share price rebound

The LiveHire Ltd (ASX: NHL) share price is up 8% to 28 cents today, but still down around 33% from 42 cents this time last year.

LiveHire is a recruitment platform that lets employers keep digital track of candidates within one eco-system. It reports that it can help save its enterprise clients time and money by streamlining the recruitment process and potentially even cutting out recruiters’ sky high fees. 

Today it revealed an operating cash loss of $3.7 million on sales of just $1 million for the quarter ending September 30 2019. It has $30.4 million cash on hand and is estimating cash outflows around $4.99 million over the December quarter. 

Some of its clients include oOh!media, Victorian Chamber of Commerce and from memory Xero Limited (ASX: XRO).

The stock price has actually halved over just 2019 though, I believe as investor enthusiasm wanes on the back of some churn and lower-than-expected sales. 

It has grown from 46 clients in December 2018 to 86 clients as at September 30 2018. While growth is going in the right direction it’s coming off a small base and not really strong enough to attract me as an investor. Others may take a different view though. 

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Motley Fool contributor Tom Richardson owns shares of Dicker Data Limited and Xero.

You can find Tom on Twitter @tommyr345

The Motley Fool Australia owns shares of and has recommended  Xero and Dicker Data Limited. 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.

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