Dropsuite Limited (ASX: DSE) presented its financial and operational performance overview for the quarter ending 30 September 2023. During this period, the company achieved remarkable milestones, including an Annual Recurring Revenue (ARR) of AU$33.4 million, signifying a 10% increase from the previous quarter and an impressive 44% growth from the same period last year.
Operating cash flow for Q3 FY23 reached AU$1.39 million, showcasing the company's financial stability. Furthermore, Dropsuite experienced a noteworthy rise in Monthly Average Revenue Per User (ARPU), reaching AU$2.57, indicating a 9% increase from the previous quarter and a substantial 17% growth compared to the previous corresponding period. The company successfully onboarded 35 new direct partners and 209 indirect transacting partners, expanding its network. Despite challenges, Dropsuite demonstrated resilience by achieving gross paid user additions of 86,000.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
