The Camplify Holdings Ltd (ASX: CHL) share price is charging higher on Tuesday following the company's latest announcement.
Investors are licking their lips after the peer-to-peer recreational vehicle hiring platform shared its third-quarter activities report for FY22.
At the time of writing, Camplify shares are attracting a $2.75 price tag, up 14.11% from their previous close. Earlier, they were as high as $2.85, an 18% gain.
Let's inspect the news behind today's colossal price action.
Another quarter of growth for Camplify
As COVID-19 restrictions continue to ease around the world, people are getting back on the road to scratch their travel itch. For Camplify, this has meant another quarter of solid growth across the business in Q3 FY22.
Some key metrics encompassing the robust performance during the three-month period include:
- Gross transaction volume (GTV) up 69.5% year on year to $13.03 million
- Revenue reaches $4.11 million during the quarter, up 110.5% year on year
- Take rate hits 29.4%
- The United Kingdom and Spain record significant GTV growth of 964% and 428% respectively
- Marketplace customers clicked over to 23,832
Unsurprisingly, the market is reacting positively to the news, with the Camplify share price rising today.
In addition, there were notable developments for Camplify during the quarter on the acquisition front. During the quarter, the New Zealand Commerce Commission gave the thumbs up to the ASX-listed company acquiring Mighway and SHAREaCAMPER.
What's the financial position of this ASX-listed small-cap?
Despite achieving $9.43 million in cash receipts from customers during the quarter, Camplify remains cash flow negative operationally. At the end of March, the company had burned through $2.03 million in cash to finish with $17.254 million in Q3.
At this cash burn rate, ASX-listed Camplify currently has around eight quarters (or two years) before further capital would be needed to sustain operations.
Camplify share price goes on an adventure
While travellers might be getting back on the road, the Camplify share price is still not in the good books of investors in 2022.
Since the beginning of the year, shares in the rental marketplace have taken a 34% dive. This is even after the massive 33% upswing witnessed in the Camplify share price since 11 April. For comparison, the S&P/ASX 200 Index (ASX: XJO) is only down 0.35% over the same time frame.
