Guess which little ASX AI share is leaping 17% today

This tech share is having a strong finish to the week. But why?

| More on:
a man in a business suite throws his arms open wide above his head and raises his face with his mouth open in celebration in front of a background of an illuminated board tracking stock market movements.

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 Bigtincan Holdings Ltd (ASX: BTH) share price is ending the week on a high.

At the time of writing, the ASX artificial intelligence (AI) share is up 17% to 34.5 cents.

Why is this ASX AI share shooting higher?

Investors have been buying the AI-powered sales enablement automation platform provider's shares following the release of a business update.

According to the release, the company is undertaking a cost reduction program that will reduce normalised operating expenses by approximately 10%. This involves a reduction of full-time roles and adjustments in contractor and program spending, with a focus on non-customer-facing roles in the USA.

Management notes that this builds upon efficiencies achieved in FY 2023, which helped the company transition to cash flow breakeven.

Takeover interest

Also giving the ASX AI share a boost has been an update on potential takeover interest.

The company revealed that it has received a number of expressions of interest regarding potential control transactions. Bigtincan has established a data room to facilitate due diligence investigations for those interested parties whose expressions of interest are considered to be worthy of further investigation.

At present, multiple interested parties are active in the data room and the process is well progressed. However, management warned that there is no certainty any transaction will eventuate.

Outlook

Bigtincan has also released an update on its outlook for FY 2024.

Based on progress in the first half, Bigtincan sees Multi-Hub growing to 30%+ of ARR, revenue from Generative AI technology to commence, and retention to return to stable historic levels with continued new logo and expansion growth in FY 2024.

Management also highlights that its cost reduction program will enable the company to further build on metrics achieved in FY 2023. These are positive cash flow, as well as ARR, revenue and EBITDA growth.

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes could be the 'five best ASX stocks' for investors to buy right now. We believe these stocks are trading at attractive prices and Scott thinks they could be great buys right now...

See The 5 Stocks *Returns as of 30 April 2025

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Bigtincan. The Motley Fool Australia has positions in and has recommended Bigtincan. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Technology Shares

Two smiling work colleagues discuss an investment or business plan at their office.
Technology Shares

Why Goldman Sachs rates this ASX tech share as a top buy

Let's see why the broker rates this stock highly right now.

Read more »

A woman sits at her computer with her hand to her mouth and a contemplative smile on her face as she reads about the performance of Allkem shares on her computer
Technology Shares

WiseTech shares have surged 34% since April. Is it too late to buy?

Can WiseTech shares keep charging higher? Here’s what this investing expert expects.

Read more »

A man in full American NFL playing kit crouches over with his arms across his chest in a defensive stance against a dark background.
Technology Shares

ASX 300 tech stock charges 7% higher to record high on stellar results

This tech stock delivered another impressive result this morning.

Read more »

a man sits at his desk wearing a business shirt and tie and has a hearty laugh at something on his mobile phone.
Technology Shares

Up 87% in 12 months: Why this ASX tech share is still a top buy

This technology business still has loads of potential, according to a fund manager.

Read more »

a group of three cybersecurity experts stand with satisfied looks on their faces with one holding a laptop computer while he group stands in front of a large bank of computers and electronic equipment.
Technology Shares

2 ASX 200 tech stocks Morgans rates as buys

The leading broker has named a couple of shares to buy right now.

Read more »

Man smiling at a laptop because of a rising share price.
Technology Shares

Is it time to buy ASX data centre shares?

ASX data centre shares have been rebounding lately. Will they continue to?

Read more »

a group of people sit around a computer in an office environment.
Earnings Results

Guess which ASX 200 tech stock is rocketing 12% on record results

Another half, another record result from this high-quality company.

Read more »

Man on his laptop standing next to data centres.
AI Stocks

3 reasons to buy this $9 billion ASX 200 AI stock today

A leading expert forecasts this $9 billion ASX 200 AI stock will deliver “meaningful earnings upside”.

Read more »