Global software company LiveTiles (ASX:LVT) has seen a record quarter of annualised recurring revenue growth, reaching $40.1 million as at 30 June 2019.
Fourth quarter Financial Year 2019 ARR was a record quarter for LiveTiles, with growth of $5.6 million, that's 65 per cent higher than Q4 FY18 organic ARR growth of $3.4 million.
ARR has grown by 167 per cent in the last 12 months
The company key objective is to deliver ARR of at least $100 million 30 June 2021.
The company acquired employee profile and directory management software company Hyperfish for $8.9 million in May 2018.
Shares in LiveTiles (ASX:LVT) closed 7.77 per cent higher to $0.56 yesterday.