Dropsuite continuing to grow paid users and revenue based on their Quarterly Activities Update which was released today.
DSE has experienced 50% growth in paid users in the last month, increasing from 400,000 to ~600,000.
Customer receipts increased 21% quarter-on-quarter to $860,000 (Q1: $707,000). The company said that this quarter’s receipts from customers doesn’t reflect the recent user growth due to partners’ payment terms ranging from 30 to 60 days from date of invoice.
Quarterly cash burn has stabilised at -$318,000 (or -$518,000 normalised) and is an improvement on the first quarter (31 March 2018: -$610,000).
The market seemed to like the quarterly and the DSE share price finally cracked the 14c mark and is currently trading at 15.5c with an intraday high of 16c. Volume today is at all all-time high so there is some real conviction in today’s move up.
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