Unfortunately, the pandemic has stifled the growth of a number of popular companies in FY 2021 such as A2 Milk Company Ltd (ASX: A2M) and Altium Limited (ASX: ALU).
The good news, though, is that not all companies are struggling because of COVID-19. In fact, the two shares listed below are on fire this financial year. Here's what you need to know:
Bigtincan Holdings Ltd (ASX: BTH)
The first share which has been delivering strong growth in FY 2021 is Bigtincan. It is a leading provider of enterprise mobility software globally.
Bigtincan's software helps businesses increase their sales win rates, reduce expenditures, and improve customer satisfaction. This is achieved by pulling everything from sales content management, coaching and training, document automation, and internal communications into one intuitive, custom-tailored, sales enablement platform. This has proven very popular during the COVID crisis.
So much so, thanks to strong demand, the company expects to report annualised recurring revenue (ARR) in the range of $49 million to $53 million in FY 2021. This represents a sizeable 37% to 48% increase year on year.
And it is worth noting that this is still only scratching at the surface of its $6 billion market opportunity. This gives it a very long runway for growth in the coming years.
Pushpay Holdings Ltd (ASX: PPH)
Another company growing rapidly is Pushpay. It is a donor management and community engagement provider to the church market. Thanks to the quality of its platform, its leadership position, and the shift to a cashless society, Pushpay has experienced a significant increase in demand for its offering over the last 12 months.
This has led to stellar revenue and operating earnings growth in FY 2021. For example, just this week Pushpay upgraded its earnings guidance for a second time due to a stronger than expected finish to the calendar year.
Instead of operating earnings of between US$54 million and US$58 million, management is now forecasting FY 2021 operating earnings of between US$56 million and US$60 million. This will be up a massive 123% to 139% year on year. This has been driven by strong revenue growth, the recent launch of ChurchStaq, and further operating leverage.
