Bigtincan, a sales coaching platform, reported revenue growth of 162% YoY to AUD 37.7 million (~USD 25.6 million) in Q1 FY2023, reportedly the highest customer cash receipts ever recorded for a quarter.

The company reported a positive cash flow position for the fourth consecutive quarter in Q1 FY2023, which included AUD 2.8 million (~USD 1.9 million) in one-off severance and other related costs to business adjustments. Meanwhile, capitalized investments declined by 25% YoY to AUD 3.5 million (~USD 2.4 million), due to the conclusion of development projects and the introduction of new products to the market. Total cash and cash equivalents was AUD 35.3 million (~USD 24 million) as at September 2022.

During the quarter, Bigtincan celebrated the one-year anniversary of the acquisition of Brainshark, which brought about strategic and financial benefits for Bigtincan's multi-Hub business model. Additionally, it gained new clients, and expanded relationships, including those with Google, Figma, eBay, and Cisco. The business also noted a roadmap progression with new releases for all Hubs.

The company reaffirmed its FY2023 guidance, revenue is expected to range from AUD 123 million–AUD 128 million; annual recurring revenue (ARR) is expected to range from AUD 137 million–AUD 143 million; and adjusted EBITDA forecast to materially exceed FY2022 (AUD 4.1 million).