The Damstra Holdings Ltd (ASX: DTC) share price is rocketing higher for a second day today.
The workplace management software-as-a-service provider hasn't released any news today.
However, just yesterday, Damstra released its quarterly activity report and results detailing record breaking revenue and cash receipts.
Right now, the Damstra share price is $1.13. This is 16.49% higher than yesterday's closing price. This is pretty impressive following the stock rising 20.75% yesterday!
That's right. The Damstra share price has gained 41.25% since market close on Wednesday.
So, what news is warranting such a dramatic boost to the price? Let's take a look.
The latest from Damstra
Damstra reported receiving its highest ever recorded revenue at $9.1 million over the June 2021 quarter.
It also achieved a record-breaking $10 million worth of cash receipts.
Also in June, Damstra received a $20 million debt facility, 55 new clients, and 74% more active users.
Damstra now has 724 clients and 157 joined during the 2021 financial year. It also has 737,000 active users.
Commentary from management
Damstra's CEO Christian Damstra commented on the company's activities:
In [the fourth quarter] we continued to see material increases in users across all of our product modules and delivered increased value to our customers through constant product innovation. We remain in productive contractual negotiations with several potentially material clients in the United Kingdom and North America.
Damstra share price snapshot
Despite this week's impressive growth, the Damstra share price is still in the red on the ASX for 2021.
It is 27% lower than it was at the start of the year. It is down 34% since this time last year.
The company has a market capitalisation of about $213 million, with approximately 186 million shares outstanding.
