While earnings season hasn't officially started, a number of companies have just released their quarterly updates.
Here's a summary of three standout updates from last week:
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Bigtincan Holdings Ltd (ASX: BTH)
This artificial intelligence-powered sales enablement automation platform provider delivered a strong second quarter update last week. That update revealed that Bigtincan's strong form continued during the quarter, with annualised recurring revenue (ARR) increasing to $48.4 million. This represents growth of 50% on the prior corresponding period. It was driven predominantly by organic growth. Organic ARR came in at $40 million (up 42.9%) and ARR from acquisitions came in at $8.4 million.
Nitro Software Ltd (ASX: NTO)
Another impressive performer during the last quarter was this document productivity software company. Last week it released its fourth quarter update and revealed that its ARR reached US$27.7 million at the end of December. This was up 64% on the prior corresponding period and ahead of its previously upgraded guidance of US$26 million to US$27 million. Another positive was the increasing amount of revenue which is now from subscriptions. At the end of the period, subscription revenue had increased to approximately 58% of total revenue. It also comprised approximately 78% of revenue across the dominant Business sales channel.
ResMed Inc (ASX: RMD)
A final result that caught the eye was the second quarter update from this medical device company. ResMed delivered a 9% increase in quarterly revenue to US$800 million and a 17% increase in net profit to US$206.4 million. This was ahead of the analyst consensus estimate for both revenue and earnings. Management advised that its growth was driven by a solid performance across the business. This includes its digital health business, which has been performing strongly thanks to the growing importance of out-of-hospital care.
