The Camplify Holdings Ltd (ASX: CHL) share price is making a strong rebound on Wednesday, up 6.61% to $1.29 after the company announced its June quarter results.
This follows a sharp 6.56% tumble on Tuesday to a record low of $1.21.
Camplify is a digital marketplace platform for recreational vehicles (RVs) such as campervans and motorhomes. It operates a similar business model as Airbnb, allowing holidaymakers to hire RVs for their outdoor adventures.
The company had a successful debut on the ASX on 28 June when its shares closed at $1.40.
What's moving the Camplify share price today ?
Camplify was pleased to announce that its metrics for the fourth quarter of FY21 are tracking ahead of forecasts.
The company reported Q4 FY21 gross transaction volumes (GTV) of $9.6 million, representing a 163% increase against the prior corresponding period.
On Camplify's first day of listing, the company upgraded its FY21 forecasts, citing GTV to be in the range of $30.0 million to $31.5 million instead of the $27.8 million in its prospectus.
The company's strong performance to date has translated to yet another upgrade in FY21 forecasts. It's now expecting between $31.5 million and $31.8 million in GTV.
In addition, unaudited net revenue for FY21 is forecast to be between $7.1 million and $8.2 million. This exceeds the prospectus forecast of $6.7 million.
Camplify delivers growth across the board
Camplify's business has experienced strong growth across its core geographic locations.
Today's announcement reported the Australian and New Zealand markets both experienced "excellent growth rates".
The Australian market delivered an FY21 GTV growth rate of 158% compared to FY20. Q4 delivered a significant 582% uplift against the previous corresponding period (pcp).
Meantime, the New Zealand market has experienced "strong domestic support in the market as travellers returned to the local caravan and camping markets". This resulted in a 485% lift in GTV in FY21 and a massive 2,627% surge in Q4 GTV.
On the other side of the globe, Camplify also experienced a "fast recovery" in its UK and Spain markets in terms of GTV and revenue.
The company said the UK and EU markets experienced an FY21 GTV growth rate of 199%, while Q4 growth rates delivered another 4 digit increase of 2,792% against the pcp.
Are lockdowns affecting the Camplify share price?
On 16 and 20 July, the Camplify share price tumbled 5.6% and 6.6% respectively.
It coincided with Victoria announcing, on July 20, that its five-day snap lockdown would be extended by another week until midnight Tuesday, 27 July.
On the same day, South Australia moved into a 7-day lockdown after its health authorities confirmed an outbreak of the coronavirus delta strain.
Commenting on the effect of lockdowns, Camplify said that Melbourne's 14-day lockdown in May resulted in a temporary decrease followed by a sharp recovery in marketplace activity.
The overall result was a net GTV increase in May.
Similarly, the company expects a similar minor temporary impact on Q1 FY22 performance as a result of more recent lockdowns. But, overall, Camplify forecasts "no negative impact is expected" to its FY22 growth projections and outlook.
