With revenues rising over 175 percent compared to last year, the sales and marketing platform for apps is propelling growth.
SAIS (TSXV:SAIS), fintech firm announced 175 percent increases in revenues for the third quarter, driven primarily from Kaddra, an ecommerce app platform. The Singapore-based company reported revenues of US$88,000 in addition to onboarding key client, Envy Motors, a luxury automotive dealership.
As quoted in the press release:
For the three months ended September 30, 2019, total revenue was US$88,000 – an increase of US$56,000 or 175% compared to US$32,000 for the same quarter the previous year, specific to revenues attributed to its technology business, Kaddra. The nine months ended September 30, 2019, total revenue was US$279,000 – an increase of US$211,000 or 310% compared to US$68,000 for the same period the previous year.
“It has been an exciting quarter for SAIS as we transitioned to become a fully-fledged technology business. Our revenue for the nine months ended September 30, 2019 is in line with our plans as we are taking steps to enhance the sales strategy for our flagship KADDRA platform including appointing Arnaud Elnecave as our Chief Operating Officer. Since coming on board in early September, he has already begun to establish strong sales and production planning to grow the Kaddra business effectively,” said Quentin Chiarugi, Chief Executive Officer of SAIS.