The iSignthis Ltd (ASX: ISX) share price continued its stellar run and was one of the best performers on the All Ordinaries on Tuesday.
The regtech and payments company's shares jumped over 14% to 80 cents.
This latest gain means the iSignthis share price has now gained a remarkable 430% since the start of the year.
Why did the iSignthis share price rocket higher?
On Tuesday iSignthis released its second quarter update which revealed that its strong growth has continued since its last update.
According to the release, iSignthis posted revenue of $6.3 million during the second quarter of FY 2019. This was a 240% increase on the first quarter and took its first half revenues up to ~$8.2 million.
Also growing strongly were its cash receipts. During the quarter the company reported a massive 329% quarter on quarter increase in cash receipts to $6 million. This strong growth ultimately led to the company being operating cashflow positive during the quarter.
One slight disappointment was a reasonably jump in its cost base guidance. Previously the company had provided cost base guidance of ~$8.75 million for the year, but this has been lifted by 25% to $11 million to include additional new product initiatives and allow it to capture further revenue generating opportunities.
Regardless of this, management continues to target EBITDA of $10.7 million in FY 2019. And considering the strong first half it has had, the company looks well-placed to achieve it if it can continue this momentum.
Also rising strongly on Tuesday was the Redbubble Ltd (ASX: RBL) share price and the Volpara Health Technologies Ltd (ASX: VHT) share price following the release of their latest updates.
The Redbubble share price rocketed 45% higher after the ecommerce company reported a strong finish to the financial year, whereas the Volpara share price jumped over 6% following the release of a strong first quarter update.
