Changes are happening - please bear with us while we update our site.

Changes are happening - please bear with us while we update our site. Click here to give us your advice and feedback.

Dubber (ASX:DUB) share price rockets 20% on trading update

This morning, Dubber Corp Ltd (ASX: DUB) released its Q3 trading update, sending its share price up over 19% at the time of writing. Here's what happened.

This morning, Dubber Corp Ltd (ASX: DUB) released its Q3 trading update, sending its share price up over 19% at the time of writing.

Over the past six months, the Dubber share price has gained an even more impressive 74% on the back of various positive announcements and partnerships.

Dubber share price

Source: Rask Media DUB 6-month share price chart

Dubber background

Dubber is a provider of cloud-based software used for call recordings. It can allow businesses to record and access voice data to improve call quality as well as compliance monitoring.

Its artificial intelligence (AI) platform is able to detect vocal sentiment, identify specific words and identify trends – all of which can be used to derive insights, retain more customers and provide an improved customer experience.

Strong quarterly update

Across the quarter, Dubber reported annualised recurring revenue (ARR) growth of 20% QoQ to $34 million and 158% on the prior corresponding period (pcp).

Revenue was up 54% to $6.6 million QoQ and cash receipts were also up 54% to $6.55 million.

Dubber finished the period with a cash balance in excess of $37.7 million and over 380,000 users across its platform.

User growth surges

During the March quarter, user numbers for Dubber’s Software-as-a-Service (SaaS) monthly subscriptions grew at record levels with over 380,000 subscribers, up 152% on the pcp.

Management believes this high level of growth is likely to continue into the current quarter partly due to the launch of its Foundation Partner Program, which allows Dubber’s services to be embedded within the partner’s offering. The advantages are mutually beneficial and enhance the functionality of both offerings.

Dubber – Q3 Update

Further developments

While traditional business communications have previously revolved around desk phones and mobiles, we’re now seeing the continued adoption of applications such as Zoom, Microsoft Teams and Webex.

Dubber has the unique ability to capture voice data from legacy systems as well as new platforms and is able to store voice data in a single location – the Dubber voice intelligent cloud.

Dubber has recently become one of only two vendors that are certified for compliant call recording for Microsoft Teams.

Summary

This is an interesting ASX growth share that I’ll be keeping my eyes on closely this year due to the many structural tailwinds working in its favour.

I don’t think COVID-19 will be a one-hit-wonder for applications like Zoom and Microsoft Teams, so it’s likely it could provide a sustainable advantage.

For more reading, I suggest getting a free Rask account and accessing our full stock reports. Click this link to join for free and access all of our free analyst reports.

$50,000 per year in passive income from shares? Yes, please!

With interest rates UP, now could be one of the best times to start earning passive income from a portfolio. Imagine earning 4%, 5% — or more — in dividend passive income from the best shares, LICs, or ETFs… it’s like magic.

So how do the best investors do it?

Chief Investment Officer Owen Rask has just released his brand new passive income report. Owen has outlined 10 of his favourite ETFs and shares to watch, his rules for passive income investing, why he would buy ETFs before LICs and more.

You can INSTANTLY access Owen’s report for FREE by CLICKING HERE NOW and creating a 100% FREE Rask Account.

(Psst. By creating a free Rask account, you’ll also get access to 15+ online courses, 1,000+ podcasts, invites to events, a weekly value investing newsletter and more!)

Unsubscribe anytime. Read our TermsFinancial Services GuidePrivacy Policy. We’ll never sell your email address. Our company is Australian owned.

Information warning: The information on this website is published by The Rask Group Pty Ltd (ABN: 36 622 810 995) is limited to factual information or (at most) general financial advice only. That means, the information and advice does not take into account your objectives, financial situation or needs. It is not specific to you, your needs, goals or objectives. Because of that, you should consider if the advice is appropriate to you and your needs, before acting on the information. If you don’t know what your needs are, you should consult a trusted and licensed financial adviser who can provide you with personal financial product advice. In addition, you should obtain and read the product disclosure statement (PDS) before making a decision to acquire a financial product. Please read our Terms and Conditions and Financial Services Guide before using this website. The Rask Group Pty Ltd is a Corporate Authorised Representative (#1280930) of AFSL #383169.

At the time of publishing, the author of this article does not have a financial or commercial interest in any of the companies mentioned.
Skip to content