The Australian share market may be up materially over the last 12 months, but a number of small cap shares have performed even stronger.
Here's why these ASX small cap tech shares have more than doubled in value since this time last year:
Dubber Corp Ltd (ASX: DUB)
The Dubber share price has rallied a massive 108% higher over the last 12 months. Investors have been buying the cloud-based call recording service provider's shares following a strong performance in FY 2019. Dubber's service has been adopted as core network infrastructure by multiple global leading telecommunications carriers in North America, Europe and Asia Pacific.
It isn't hard to see why it is so popular. Its cloud-based technology allows businesses to record, manage and analyse their phone calls and communications. They can even use AI to analyse the emotions and stress levels of a caller. In FY 2019 the company posted a 222% increase in active customers, which underpinned a 132% jump in revenue to $7.4 million. The company has started the new financial year in a positive fashion and recently announced a deal with telco giant Telstra Corporation Ltd (ASX: TLS).
Kleos Space SA (ASX: KSS)
The Kleos Space share price has been a very strong performer over the last 12 months. Since this time last year the space enabled data as a service company's shares have more than tripled in value. This has been driven by the positive progress the company is making in its roadmap to revenue generation. Kleos Space is aiming to guard borders, protect assets and save lives by delivering global activity-based intelligence and geolocation as a service.
This morning the company announced that its Scouting Mission satellites have been dispatched to India for launch. Its CEO, Andy Bowyer, notes that these are the foundation of its future constellation, which "will deliver unprecedented situational awareness at sea with near real-time coverage over key regions of maritime interest including the Strait of Hormuz, South China Sea and African coast."
