Australia-based job search site AD1 Holdings (AD1:AU), published a business update today for the third quarter ended 31 March 2021.

The group said cash receipts from customers for the March 2021 quarter were AUD 1.53 million (USD 1.19 million) representing an increase of 80% compared to prior year.

AD1 CEO, Prashant Chandra, said, “The company enjoyed a strong and productive March 2021 quarter with significant new customer and project wins. Most notable of the wins is the multi-year AUD 10 million (USD 7.78 million) deal in the utilities division, which will increase the company’s recurring SaaS and Managed Services revenue by approximately 50% compared to FY 2020. It is also a great validation of the value our utilities technology solutions deliver for our customers.”

The group added that AD1’s latest acquisition Art of Mentoring continues to perform well.

“In the HR Technology space, Art of Mentoring provides the company with a good balance of shorter sales cycle opportunities,” Chandra added. “AoM added six new platform customers during the reported quarter extending the total new customer sign ups for FY 2021 to 21.”

“Our strategy for ApplyDirect is to launch an off-the-shelf product to enable the SME employers access the same great benefits as are available, through our career platform solutions, to large employers such as the New South Wales and Victorian governments,” Chandra said. “Design and development of this product is currently in progress and we expect the product launch to occur in the July-September 2021 quarter. We are excited about the prospects of this product in what we believe is a highly contestable market. The sales pipeline across the company is stronger than ever and progressing well.”