Livetiles Ltd announced its performance for one year and June quarter

Recurring revenue grew 275% year-on-year: Livetiles Ltd.’s (ASX: LVT) stock rose 1% on July 10, 2018 after the company announced that its recurring revenue grew 275% to $15 million year-on-year as at 30 June 2018. The company has added $3.8 million of ARR (annualised recurring revenue) in the June quarter. LVT’s early adoption of LiveTiles Bots is stronger than expected, as ongoing joint campaign with Microsoft in North America had strengthened brand and product awareness. This strong growth in LiveTiles Bots is expected to continue in FY19. The company also expects strong recurring revenue growth in FY19, due to sales and marketing investment, Microsoft co-marketing initiatives and demand for recently launched AI products. As a result, LVT stock has risen 18.07% in three months as on July 09, 2018.


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