Why has the IntelliHR (ASX: IHR) share price jumped 8% on Thursday?

It's a good day to be an IntelliHR shareholder…

| More on:
Two people jump and high five above a city skyline.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The IntelliHR Ltd (ASX: IHR) share price is soaring today after the company announced record quarterly sales and its breakthrough into a new enterprise market.

The software-as-a-service provider received more than $1 million worth of contracted annual reoccurring revenue and implementation over the first quarter of financial year 2022.

It also secured its first customer in the hotel and tourism market.

At the time of writing, the IntelliHR share price is 23.2 cents, 7.91% higher than its previous close.

Let's take a closer look at today's news from the human resources-focused technology company.

IntelliHR's successful first quarter

The IntelliHR share price is taking off today after the company announced record quarterly sales and revenue growth.

The quarter just been saw IntelliHR's annual reoccurring revenue reach $776,000. It also generated $225,000 from professional services.

Further, 43% of the company's new revenue was generated from overseas customers. The company said this highlights its global potential and validates its sales channel.

IntelliHR won 33 new contracts over the first quarter.  As of 30 September, it had 43,784 contracted subscribers. Additionally, IntelliHR boasted 100% customer retention for the quarter.

Likely helping the IntelliHR share price today, is news the company has welcomed its first customer from the enterprise hotel and tourism market.

Jamaican-based Couples Resort signed up to use the company's software to help support more than 1600 of its team members. Couples Resort's contract is expected to bring in between $180,000 and $220,000 for IntelliHR.

Of the Couple Resort's contract, IntelliHR's Americas president and chief customer officer Glenn Donaldson said:

With the world gradually returning to normality, the tourism industry and hotel industry have become a key strategic focus with IntelliHR's HR process configurability well positioned to support the personalised and culturally focused needs of this sector.

IntelliHR share price snapshot

Despite today's uptick, the IntelliHR share price has been performing poorly lately.

It has fallen 58% since the start of 2021. However, it has gained 3% since this time last year.

Should you invest $1,000 in Boral right now?

Before you buy Boral shares, consider this:

Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now... and Boral wasn't one of them.

The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

And right now, Scott thinks there are 5 stocks that may be better buys...

See The 5 Stocks *Returns as of 30 April 2025

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Technology Shares

Business people discussing project on digital tablet.
Technology Shares

After its result, what does Macquarie think Xero shares are worth?

Here's what the leading broker is saying about this tech stock.

Read more »

A woman sits at her computer with her chin resting on her hand as she contemplates her next potential investment.
Technology Shares

Gentrack share price down 5% on half-year results

Let's unpack what was reported.

Read more »

Man with rocket wings which have flames coming out of them.
Technology Shares

Which ASX All Ords stock is jumping 14% on big counter-drone news

Investors are responding positively to news of a big contract win.

Read more »

Two plants grow in jars filled with coins.
Technology Shares

2 ASX growth shares I'd buy with $5,000 right now

I’m bullish about these two stocks with compelling growth potential.

Read more »

A woman on a green background points a finger at graphic images of molecules, a rocket, light bulbs and scientific symbols as she smiles.
Technology Shares

Growth investors should put these 2 top ASX tech shares on the watchlist

I think growth stocks from the tech sector could be exciting options.

Read more »

One girl leapfrogs over her friend's back.
Technology Shares

This ASX 200 tech stock would have doubled your money in a year. Is it too late to buy now?

After more than doubling in a year, here’s what Macquarie expects next for this soaring ASX 200 tech stock.

Read more »

Two brokers analysing stocks.
Technology Shares

What are top brokers saying about Xero shares?

Is now the time to buy this popular share? Let's see what brokers are saying.

Read more »

Hologram of a man next to a human robot, symbolising artificial intelligence.
Technology Shares

Appen share price rockets 18% on guidance update

Let's see what is getting investors excited on Friday.

Read more »