This ASX-listed software firm just racked up 292% growth in annualised subscription revenue

Photo: iStock

Australian-origin software company LiveTiles has boasted of a 292% growth in annualised subscription revenue for the 2017 financial year.

The ASX-listed company, which now has its headquarters in New York, provides collaboration software and user interfaces for Microsoft Azure and Sharepoint systems.

By the end of the financial year, the firm had $4 million in annualised subscription revenue. This compared to less than $2 million at the start of January this year.

A short time ago, its shares were up 2.1% to $0.235.

The growth is six times the subscription software industry average of 44%, according to Pacific Crest Securities research.

(Source: LiveTiles/ASX)

“Hitting $4 million in recurring revenue in just over 2 years and quadrupling our recurring revenue in financial year 17 is a huge accomplishment for LiveTiles,” said LiveTiles co-founder and chief Karl Redenbach.

“We’re very pleased with the growth of our business to date and we expect our rapid growth to continue in financial year 18.”

While not revealing the names of any of its recent customers, in the past the company has had brands like Pepsico and soccer organisation UEFA on its books.

LiveTiles floated in 2015 through a reverse listing with mining company Modun Resources.

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