Bigtincan (ASX: BTH) – sales coaching provider
COMPANY SCOREBOARD
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ABOUT COMPANY
Bigtincan Holdings (BTH) (https://www.bigtincan.com/) is Australia’s largest publicly listed sales enablement platform and SaaS provider of global sales training, sales content delivery, and sales meeting facilitation.
In August 2021, the company acquired Brainshark for $116m through capital raise of $135m@$1.05. Brainshark is recognised as a leader in sales coaching, learning, and readiness in the USA with 900+ customers and ~180 employees.
In July 2023, the company acquired Modus Engagement for US$9.5m. It brings over 100 new customer logos and AU$7.5m ARR.
CAPITAL STRUCTURE
| ASX Code | Share Price | Shares | Option (In) | Market Cap | Cash/Asset ($m) |
| BTH | 0.17 | 616253090 | 104763025.3000 | 38/(45) |
| Holders No | Top 20 (Cur) | Top 20 (Pre) | Director Hold | Performance Right | Note |
| 16013 | 67.25% | 64.90% | 4% | 22659721 | last raise $35m@60c |
In December 2022, SQN, who holds 75m shares (or 13.6%), offered to acquire the company for 80c.
BUSINESS
Below is the company’s past five years performance:
| BTH | 2023 | 2022 | 2021 | 2020 | 2019 |
| Operation Revenue | 122395 | 108033 | 43874 | ||
| Cost of Sale | -14930 | -13181 | -6634 | ||
| Gross Revenue | 107465 | 94852 | 37240 | 0 | 0 |
| Gross Margin | 0.8780 | 0.8780 | 0.8488 | 0 | 0 |
| Overheads | -139553 | -126962 | -52400 | ||
| Fixed Overheads | |||||
| Variable Overheads | |||||
| Total Operation Expense | -139553 | -126962 | -52400 | 0 | 0 |
| Operation Profit | -32088 | -32110 | -15160 | 0 | 0 |
| Other Revenue | 1533 | 1355 | 293 | ||
| Interest Expense | 1448 | 9136 | -728 | ||
| D&A | |||||
| Income Tax | 2508 | 1212 | 1140 | ||
| Net Profit | -26599 | -20407 | -14455 | 0 | 0 |
| NOTES | $102m ARR | $42.5m ARR |
The growth in revenue was offset by overheads.
SUMMARY
The company will have a substantial amortisation cost over the next few years.