Job search site AD1 Holdings (AD1:AU) published its results for the financial year ended 30 June 2021. Revenue for ordinary activities jumped 65% to AUD 6.04 million (USD 4.38 million).

The improvement in revenue was contributed by both organic growth and the acquisition and integration of the Art of Mentoring (AOM), a software-as-a-service business, in late 2020.

The group said the successful acquisition and integration the AOM business in October 2020 not only added over AUD 1.1 million (USD 0.8 million) in revenue but also expanded the group’s footprint within the HR tech market.

Since becoming part of the group, AOM has continued its strong performance and added over 20 new customers to its portfolio, ended FY21 with significant revenue growth of 35% and a strong pipeline moving into the new fiscal year. Excluding AOM, the organic growth in revenue from the rest of the business was approximately 32% compared to the previous financial year. 

AD1 Managing Director and CEO, Brendan Kavenagh, said, “FY21 has been a successful year for achieving significant year-on-year growth. The acquisition of Art of Mentoring has strengthened the Groups HR Tech footprint in what is a very quick moving and competitive space. AoM continue to respond to demand and are continuing to build on their client portfolio.”

“ApplyDirect continues to support existing customers and delivering on projects to improve the service offering,” Kavenagh said. “Parallel to this, ApplyDirect is currently investing in the recruitment platform and is focused heavily on bringing that product to market with a series of pilot projects over the coming months.”

During the year, ApplyDirect signed a project with the New South Wales government in May 2021 to enhance its iworkforNSW careers platform and the accompanying mobile applications. The product "refresh" will further enhance the candidate experience and support NSW Government as an employer of choice. The development is well progressed and expected to be made available to the NSW government in what was August 2021, will be September 2021.

“Other key priorities include investment in sales and marketing across the group which involves collateral and website refresh to support the team to unlock future growth,” Kavenagh said. “Our aim is to speed up the sales cycle and grow our customer numbers across each business. We will continue to focus on product refinement, a customer first approach and delivering to customer needs. A big focus on staff retention and engagement by establishing key engagement programs is also in plan.”

Shares in AD1 Holdings closed at AUD 0.038 (USD 0.028), no change on the day and 18.75% above the 52 week low of AUD 0.032 (USD 0.023) set on 8 June 2021. The company has a market cap of AUD 22.97 million (USD 16.67 million).