LiveTiles (ASX:LVT) records 130 per cent ARR growth

Company News

by Ortenzia Borre

Global software company LiveTiles (ASX:LVT) has recorded annualised recurring revenue (ARR) has grown 130 per cent over the year to December 31, 2019.

The ARR reached $52.7 million - up 7.6 times when compared with two years ago. 

With the 2019 acquisitions of Wizdom in February and CYCL in November LiveTiles has expanded its customer, revenue and product base.

Chief Executive Carl Redenbach says the company expects to deliver another year of strong customer and revenue growth in FY20, driven by the continued investment into products, partners and sales and marketing channels.

Shares in LiveTiles (ASX:LVT) are trading 10.4 per cent higher at 29 cents.