Shares of LiveTiles Limited [ASX:LVT] climbed by over 11.38% in the first half of trading, today.
The company’s shares are sitting at $0.685 at the time of writing, a significant rise for the day.
Founded in 2014, the company offers cloud based intelligent workplace software for the commercial, government and education markets.
Revenue has caused share price to jump
LiveTiles is continuing its operational hot streak with yet more company metrics milestones being hit today.
The company has informed the market that its annualised recurring revenue (ARR) reached $15 million at the end of the last financial year, up from $4 million in the previous year.
Overall, LiveTiles ARR has grown by over 275% in the last 12 months.
Stunning numbers for any company.
To add to this, the decision to acquire Hyperfish, a recognised leader in next-generation employee profile and directory management software, was considered as a crucial step for the company to realise its artificial intelligence-focused strategy to deliver the next generation of applications.
Development of new AI
LiveTiles is developing its very own line of AI-powered functionality that looks set to revolutionise how businesses maintain their operations and empower users to develop their own intelligent workplace experiences.
This is great news for any investor who owns either stock, or those highly considering it.
The share price is already seeing the benefits.
For Money Morning