Comms group Whispir meets prospectus hopes

Communications platform company Whispir has finished its first year as a listed company by meeting or exceeding its prospectus forecasts.

Revenue was up 25.5 per cent to $39.1 million in 2019/20, against a forecast $37.8 million, on the back of increased platform usage.

While the firm reported a bottom-line net loss of $9.8 million, its underlying loss of $7.3 million was an improvement on the forecast $9.4 million.

CEO Jeromy Wells said this was a “strong performance” for its first year on the stock exchange since listing in June 2019.

Whispir, which describes itself as a cloud-based communications platform, services groups like Virgin Australia, the federal Department of Jobs and Small Business, Foxtel and Fire and Rescue NSW.

It offers technology that brings together communications channels like email, text messaging and web chatting in one space. 

“While COVID-19 provided a tailwind for the business, it really just accelerated the macro trend for the adoption of easy to use yet sophisticated communications software,” Mr Wells said in a statement on Wednesday.

“As businesses respond to rapidly changing operating requirements, they need to be able to communicate with all their stakeholders, employees, suppliers and customers, more effectively and Whispir has satisfied that demand.”

Whispir listed last year at $1.60 a share and now trades around $4.80.

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