LiveHire (LVH:ASX), an Australia-based talent technology company and provider of a direct-sourcing platform, provided a quarterly update for the third quarter ended 31 March 2021.

Cash receipts were a record AUD 1.5 million (USD 1.1 million) for the quarter, up 3.2% over the previous quarter. The group added that its 12 month rolling cash receipts stood at AUD 5.1 million (USD 3.9 million).

Direct sourcing revenue was up 64% from Q2 2021 and in line with expectations. The group reported quarterly direct sourcing revenue of AUD 398,136 (USD 307,227) for Q3 2021 up 64% up from AUD 242,116 (USD 186,832) in Q2 21, adding that it was progressing as planned.

The group also said its SaaS (Software as a Service) business is also progressing to plan.

In its update, LiveHire cited upcoming research from Staffing Industry Analysts that shows within 2 years 60% of companies expect to have a direct sourcing program in place.