LiveHire Ltd (ASX: LVH), the technology company with an online marketplace which connects employers and talent released a trading update today for the last quarter ending December 2017. Here are the key highlights:
- Talent Community Connections (TCCs) increased by 20% from the last quarter. The company uses TCCs as a key performance indicator and whilst this may fluctuate in the short term, it's still a good outcome given that the last quarter had fewer trading days.
- Cash receipts for the last quarter grew by 22% to $541,000 as the company continues on an upward trend of consistent quarter-on-quarter cash receipts growth. The company stated that this growth reflected the increase in licensing and hosting fees, set up payments, and improved contract terms with customers. The company had $33m cash at bank as at 31 December and no debt.
- LiveHire raised $20m from investors led by Telstra Super and Fidelity, to accelerate its key Recuitment Process Outsourcing (RPO) growth channel, as well as investment into Artificial Intelligence and global technology product partnerships.
- The LiveHire Talent Community Ecosystem launched into two new verticals; Banking & Finance, with the launch of a Live Talent Community for an ASX 100 organisation, and the Utilities vertical, with a state government-owned corporation.
Overall, it was a very positive update as the company made it the 13th consecutive quarter with growth above 20% from the previous quarter. LiveHire is a fast-growing tech company that could provide some good growth opportunities for investors.
The company's innovative solutions are offering value to the market with its process of pre-qualifying job candidates saving recruiters a lot of time, effort and money. The market certainly recognises this growth and value add as its share price has increased a staggering 273% over the last year alone. I would love some exposure to LiveHire but I wouldn't put all my eggs in one basket. The company is yet to break even and is now trading at a market capitalisation of $245m.
