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Prophecy (ASX: PRO) stock price surges 32% due to rapid growth

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NS Professy International Holdings Limited (ASX: PRO) Stock prices are skyrocketing today, rising 32% to $ 1.61 in afternoon trading.

This was after computer software application and service companies reported significant growth in their two product lines, Snare and eMite.

Snare is Prophecy’s cybersecurity software product line. It provides security monitoring, threat detection, security information and event management, and centralized log management. eMite is a SaaS (Software as a Service) based customer experience and call center analytics platform.

What growth rate was reported?

Prophecy stock prices have skyrocketed since the company reported Continuous operational progress The entire business unit.

According to Prophecy, subscription-based annual recurring revenue (ARR) has increased by more than $ 1.8 million in November so far. Its total ARR is currently over $ 15.4 million.

Looking at the breakdown, the eMite segment has an ARR of $ 10.5 million, the Snare business has an ARR of $ 4.1 million, and legacy subscription revenue is an additional $ 600,000.

The company has cited a number of new eMite customers, including Agriculture (Farmlands), Finance (BPER Banca) and Health (Providence St Joseph’s). It said there are more deals on the table that it still expects to close in November.

Sales growth of eMite so far in FY2010 was 800% compared to the same period in FY2009.

According to the prophecy:

When it comes to cloud migration, eMite is on an important growth trend.We are expecting it COVID-19 (new coronavirus infection) Accelerate cloud migration over the next few years as enterprise customers want to be able to work from home … Add vendor partnerships similar to Genesys and Amazon for eMite.

As for snares, sales growth in FY2010 has increased by 46% from the same period in FY2010. The company said Snare’s new subscription sales model “increases customer flexibility and supports continued growth” on the foundation of ARR.

Prophecy stock prices may also have risen from the company’s outlook for the entire 2022 fiscal year. “The good performance of eMite and Snare is expected to continue in FY2010,” he said. Prophecy predicts that eMite will have sales of approximately $ 13 million and Snare will have sales of $ 20 million.

Prophecy stock price snapshot

The stock price of the prophecy is bright red this year. In the last six months alone, its share has skyrocketed by about 210%. For comparison All ordinary indexes (ASX: XAO) increased by about 4.5% over the same period.

Over the past month, Prophecy’s share has increased by more than 50%.

Prophecy (ASX: PRO) stock price surges 32% due to rapid growth

Source link Prophecy (ASX: PRO) stock price surges 32% due to rapid growth

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