If you're a fan of small cap shares, then I would suggest you take a look at the ones listed below.
Here's why these three ASX small cap shares could have bright futures ahead of them:
Audinate Group Limited (ASX: AD8)
The first small cap share to look at is digital audio-visual networking technologies provider, Audinate. It is best known for its industry-leading Dante audio over IP networking solution. This solution is used widely across a number of industries and is currently dominating the competition. This appears to have positioned it perfectly for growth once the pandemic passes and large gatherings and events begin again. The company has also made some acquisitions in the video side of things and is looking to replicate its success in audio in this lucrative market as well.
Universal Store Holdings Limited (ASX: UNI)
Another small cap to watch is Universal Store. It is a fashion retailer which aims to deliver a frequently changing selection of on-trend products to a target 16-35 year old fashion focused customer. It has been a very positive performer during the pandemic and reported impressive growth during the first half of FY 2021. For the six months ended 31 December, Universal Store delivered a 23.3% increase in sales to $118 million and a 63.6% increase in underlying net profit after tax to $21.1 million. The company followed this up in the third quarter with further strong growth, setting itself up for a bumper full year profit result.
Whispir Ltd (ASX: WSP)
A final small cap share to watch is Whispir. It is a software-as-a-service communications workflow platform provider. Whispir provides an industry-leading software platform that allows governments and businesses to deliver actionable two-way interactions at scale using automated multi-channel communication workflows. Demand has been increasing strongly, leading to stellar recurring revenue growth in recent years. However, it is still only scratching at the surface of its total addressable market (TAM). At the end of the third quarter, Whispir's ARR stood at $50.3 million, which was up 20.3% over the prior corresponding period. This compares to its TAM of US4.7 billion in the just United States.
