Job search site AD1 Holdings (AD1:AU) announced today its half-year report for the six months ended 31 December 2021.

During the period, the group reported revenue growth of 48.6% compared to same period the year prior. AD1 also reported customer receipts growth of 68.0% compared to the same period a year ago.

In its HR Tech division, which includes recruitment and mentoring solutions, the group saw the addition of 39 new logos with an estimated lifetime value of over AUD 3 million (USD 2.16 million) in the first half period.

During the period, the company also signed a contract with HR.com, a US-based HR social network containing 1.9 million HR professionals, which has created a pathway for AD1 to connect with new networks across North America, creating a new active pipeline to be realised in H2FY22.

The group also reported major contract wins across the board including Australian Department of Defence, Royal Australian Air Force, Queensland Department of Premier & Cabinet and Zimmer Biomet along with 4 other international clients during the period.

“The employment market is under pressure globally and the AD1 products are well positioned to compete and create value in this highly competitive market,” the company stated.

In its Utility Billing Solution division, the group reported steady organic growth of 27% compared to the same period a year ago.

AD1 also reported AUD 5 million (USD 3.6 million) in funding secured in a partnership with PURE Asset Management to execute its immediate and expanding growth strategy.

Earlier this month, AD1 announced that its subsidiary Art of Mentoring signed a 12-month pilot with the US Department of Labour. Two new channel partnerships have been established in the US and have quickly established a pipeline of prospects which Art of Mentoring are actively exploring.

FutureSolve comprises a panel of former Chief HR Officers advising other CHROs and HR professionals in mid-large enterprises and will drive the AoM footprint expansion in the US. Center for Mentoring Excellence provides mentoring expertise and thought leadership globally and aims to enhance AoM’s brand reputation, and in turn customer acquisition.

“The first half of FY22 has seen us build a stronger base from which to grow,” CEO of AD1, Brendan Kavenagh said. “We have implemented a range of new initiatives that include a marketing website refresh for AD1 Group as well as new website and associated marketing materials for ApplyDirect. We have made significant investment into stabilising and improving existing products, onboarding new staff and working to execute the growth strategy that we have committed to while realising synergies where we can across the group, exploring potential acquisitions and executing on our customer 1st, people and customer growth strategy.”

“As communicated in previous market releases, the second half of FY22 will start with us continuing to work on refining and enhancing our existing service offerings across all businesses,” Kavenagh said. “The priorities of the second half will be securing the capabilities required and executing on accelerating our growth through both customer retention and building up a stronger pipeline both domestic and international.”

Shares in AD1 Holdings closed at AUD 0.02 (USD 0.014), up 5.26% on the day and 11.11% above the 52 week low of AUD 0.018 (USD 0.013) set on 16 February 2022. The company has a market cap of AUD 12.84 million (USD 9.24 million).