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Vault Intelligence confirms record June quarter growth

Shares in the company have nearly doubled over the past month from a low of 14 cents to a last traded price of 26 cents.

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The recurring revenue growth comprises both Vault Enterprise and Solo subscription services

Vault Intelligence Ltd (ASX:VLT) has confirmed $6.02 million contracted annualised recurring revenue (CARR) as at 30 June 2019.

The company originally revealed that it had attained the market guidance of $6 million earlier on 8 July 2019 and now an external review by auditor PwC has confirmed this achievement.

New agreements and extensions combined for $6.02 million CARR which includes record net new CARR for a quarter of $1.25 million.

Notably, this represents growth of more than 2.3 times the previous March quarter.

READ: Vault Intelligence shares surge after meeting revenue guidance through significant customer signings

Vault is a workforce management ecosystem designed to protect and manage workforces, with a host of time saving and efficient productivity tools.

Proactive last caught up with Vault following their March quarter result in April 2019.

Quick facts: Vault Intelligence Ltd

Price: 0.51 AUD

ASX:VLT
Market: ASX
Market Cap: $65.28 m
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