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FMR RESOURCES LIMITED — Capital/Financing Update 2021
May 19, 2021
64933_rns_2021-05-19_29fb8766-8435-4698-b64f-d1a83f56c371.pdf
Capital/Financing Update
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ASX RELEASE
20 May 2021
Market Update – Strong Momentum into 4Q21
Highlights:
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Recurring revenue base continues to grow
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$363,000 in SaaS contract deployments in Q421 to date, up 43% on 3Q21
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Expansion of offering to corporates with growing pipeline
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New products to leverage and complement current global customer base
Applyflow Ltd (ASX:AFW) ( Applyflow or Company ) is pleased to announce that its recruitment technology platform has continued strong sales momentum into 4Q21. The Company has contracted SaaS deployments amounting to $363,000 in total contract value ( TCV ) so far this quarter, up 43% on 3Q21’s results.
Since the launch of a major product development milestone in late February 2021, new and renewed deployments have contributed to $488,000 in annualised recurring revenue ( ARR ) and $60,000 in up-front fees for client setup and onboarding. The majority of deployments are for 12 month terms, with payments made monthly.[1]
Applyflow CEO Steve Butler said, “We’re encouraged by the strong demand for Applyflow which, in less than 3 months, has generated over $571,000 in TCV. We are now getting significant traction augmented by product enhancements released in late 3Q21.”
Applyflow’s newly developed SaaS solution provides recruitment agencies, staffing firms and, in the near-term, corporates a market-leading solution for recruitment websites, job boards and candidate management.
Multiple new product launches planned in the short term will complement the existing solution and leverage the blue chip, global customer base. These products bring large, diversified opportunities and the potential to accelerate growth.
1 TCV represents the aggregate revenue value of the deployment over the term of the contract. Approximately 91% of contracts are for a 12 month or lesser term, with 3% between 12 and 24 months and 6% greater than 24 months.
Applyflow Ltd. ABN 29 107 371 497
Level 4 82 Elizabeth Street Sydney NSW 2000
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Mr Butler continued, “The successful launch of the Applyflow product is phase one of our strategic roadmap for market expansion. We look forward to bringing our new, innovative product set to market in the short term.”
This announcement was approved for release to ASX by Applyflow’s Board of Directors.
Contact
Steve Butler John Winters CEO Non-Executive Director [email protected] [email protected]
About Applyflow
Applyflow is on a mission to make the recruitment experience better for everyone by giving recruiters an easy to use yet powerful tech solution to manage their entire business flow. A fresh take on what the recruitment process should be and the tools your team needs to make it a reality.
Applyflow Ltd. ABN 29 107 371 497
Level 4 82 Elizabeth Street Sydney NSW 2000