The Newswire

Your daily serving of financial goodness

Big Un Limited Earns $1.1 Million in Cash Receipts during March Quarter

Big Un Limited Earns $1.1 Million in Cash Receipts during March Quarter
Big Un Limited released an operating update for the March quarter and stated that it expects to record more than $1.1 million in cash receipts by the end of this month.
Mar 31, 2016 By Kaivalya Kandarpa Tags: BIG

Big Un Limited released an operating update for the March quarter and stated that it expects to record more than $1.1 million in cash receipts by the end of this month.

The total cash revenue of $1.1 million represents a 70% increase on the previous quarter. The revenue growth was boosted by an ongoing membership pipeline conversion and significant enterprise partnerships.

The company has also entered into an agreement with GeoOp, a workforce management software provider. As part of the agreement, GeoOp will promote BRTV’s services to its client base of over 21000 users across 35 countries. Big initially aims to offer tailored video packages to GeoOp’s clients in order to drive customer acquisition and expand its pool of paid memberships.

Big also received revenue opportunities via sponsorship agreements, as the company advances to the second pillar of its revenue model. During this stage, the company expects to contribute substantially to the growth in revenue as it focuses on increasing its sponsorship and advertising partnerships throughout 2016.

Big Un Limited’s Brandon Evertz commented on the company’s progress: “This is an exciting time in the company’s growth trajectory. The accelerating growth in revenues highlights both the value in our customer offering and the effectiveness of our sales function. Reaching cash flow positive so early in the company’s lifespan is a huge achievement and provides the market with excellent validation and proof of the robust nature of our commercial model and long term investment potential.”

The company is currently focusing on offering enterprise solutions and anticipates to achieve 30,000 members by the end of this calendar year.

1H16 Revenue Up 278%

Big recently released its financial results for the first half of FY16, highlighting 278% revenue growth to $1.2 million. The expansion in revenue was driven by an increase in the number of subscription members and sponsorship and licensing agreements executed during the period.

The net loss was narrowed to $3.4 million for the period, from $3.7 million in the pcp. The loss was driven by an increase in cost of sales, rise in employment and other contractor expenses that were incurred in the process of the company’s expansion.

BIG surged 25% to 17.5 cents as at 3:10 OM (AEDT).

Share this article

Kaivalya Kandarpa Author: Kaivalya Kandarpa Mar 31, 2016

Kaivalya is an equity analyst and a client advisor at Wise-owl. She specialises in fundamental and technical analysis for large and mid-cap companies. Having completed her bachelor's degree in Business Administration majoring in Finance, Kaivalya has a comprehensive understanding of international stock market movements. She tracks local and overseas markets and compiles analytical reports for various industries.

Frontier Diamonds a rare gem for ASX investors?

Diamonds were a scarce resource until 1866 when the first discovery of the Eureka Diamond near Hopetown, South Africa sparked a dramatic increase in global production of gemstones

Author: Simon Herrmann Nov 22, 2017

Errors

Sign Up for Free Trial
Subscribe
Recent Tweets
Recent News