Once again the Big Un Ltd (ASX: BIG) share price has been amongst the biggest movers on the market.
At one stage today the video technology company's shares rocketed a massive 14% higher to an all-time high of $4.00.
It has since given back some of those gains but still sits 7.5% higher at $3.76, stretching its year-to-date return to over 1,500%.
What happened?
This morning Big Un provided the market with a trading update and its cash revenue guidance for the quarter
According to the release, business continues to boom and the company experienced yet another record-breaking month in October thanks to strong growth in both Australia and the United States.
This is being driven by the rapidly growing global demand for video content from small to medium sized businesses.
As a result, management expects to achieve cash receipts from customers in excess of $20 million in the second-quarter. This will be an increase of 398% on the prior corresponding period.
Based on this guidance and its first-quarter result, I estimate full-year revenue of at least $80 million for Big Un in FY 2018.
Considering its cash profit margin was approximately 37% in the first-quarter, this could mean a cash profit of almost $30 million in FY 2018. In light of this, I continue to believe there is still meaningful upside for its shares over the next 12 months and would consider it to be one of the best tech shares on the market at the moment alongside the likes of Altium Limited (ASX: ALU) and Aconex Ltd (ASX: ACX).
