The Dubber Corp Ltd (ASX: DUB) share price continued its unrelenting climb on Wednesday. Miraculously, the appetite for shares in the cloud-based call recording software company was large today, despite its quarterly report being handed out on Friday last week.
By the end of the session, more than 1.7 million shares had been traded in the company. The sustained positive sentiment saw the Dubber share price finish at $3.32, up 5.1%.
So, what was in the company’s latest quarterly that has resulted in such an insatiable demand?
What made it a killer quarter for Dubber?
- Revenue increased 149% year on year to $8.1 million
- Subscribers nearly doubled to more than 450,000
- Annual recurring revenue (ARR) rose 140% year on year to $43.5 million
- Operating cash receipts skyrocketed 231% year on year to $9.1 million
- Completed the acquisition of AI meeting recorder and notetaker, Notiv
- Finished the quarter with $126 million cash on its balance sheet.
What it means for the Dubber share price?
Whichever way you slice it, this was a standout quarter for the unified call recording and voice intelligence solution provider. All of the typical software-as-a-service (SaaS) metrics indicated substantial growth, demonstrating growth at scale.
During the September quarter, Dubber witnessed organic SaaS subscription growth of more than 30,000. The total subscriber base grew by a far greater number but the company maintains a policy of not including foundation partner program subscribers in this metric.
Moreover, the total subscriber base surpassed 450,000 by the end of the quarter. Impressively, this represented an increase of 98% on the prior corresponding period. Likewise, important financial figures such as annualised recurring revenue and cash receipts also expanded by triple-digit values. This incredible growth bodes well for the Dubber share price.
Additionally, the company highlighted an increase in activity in the global unified communications markets. This was particularly noticed in financial services sectors where compliance requires call recording. As a result, these enterprises continue to utilise Cisco Webex and Microsoft, where Dubber’s tools are embedded.
Comments from management
Chalking up another quarter of strong growth for the Australian tech company, management shared some key points with shareholders. In this case, Dubber CEO Steve McGovern stated:
We see an accelerating trend towards the importance of enhanced voice data capability beyond just that required for compliance purposes.
This trend is being observed by our service provider partners, allowing us to expand engagements with existing partners and attract new service providers through initiatives such as the Foundation Partner program.
On the back of this positive performance, the Dubber share price has gained 6.4%. This takes the company’s year-to-date share price return to 89.7%.