Leading AI-powered sales enablement automation platform developer Bigtincan Holdings Limited (ASX:BTH) has confirmed that it has signed a partnership with Oracle.
The agreement will see Bigtincan join the Oracle PartnerNetwork (OPN), with the programme allowing Bigtincan to create new technology offerings that work on the Oracle Cloud and integrate with existing Oracle solutions including Oracle CRM.
Bigtincan’s integration with Oracle allows sales reps to view client information from Bigtincan, create custom presentations, and send data to Oracle systems for updates.
This adds to Bigtincan’s previously announced Salesforce partnership, and according to Statista allows Bigtincan to address up to 24% of the global CRM market with No 1 Salesforce at 19% and No 2 Oracle at 5%.
Industrials vertical market unit established
Building on Bigtincan’s existing Manufacturing vertical, the Industrials unit will work with Bigtincan customers in the manufacture and distribution of capital goods, including aerospace and defense, construction, engineering and building products, electrical equipment and industrial machinery, the provision of commercial services and supplies, including printing, employment, environmental and office services and the provision of transportation services, including airlines, couriers, marine, road and rail and transportation infrastructure markets.
This unit will expand market coverage for Bigtincan leading to new vectors of growth using existing and new technology offerings as industrial businesses implement new technology to address workforce shortages in customer facing teams and deliver operational efficiency and margins whilst allowing Bigtincan to leverage existing customers in the sector as a baseline for growth.
Maiden positive Adjusted EBITDA result for FY22 with view to ongoing strong operating performance Bigtincan has previously announced its first positive EBITDA position for 1H FY22 of $1.1m adjusted for non-cash and acquisition related costs and expects to improve on that operating position during 2H FY22 with an Adjusted EBITDA positive full financial year result for FY22.
This is based on ongoing revenue growth supported by the market, together with cost efficiency including synergies achieved from the transformative acquisition of Brainshark and demonstrating effective unit economics.
Targets cash flow breakeven to be achieved during FY23 Based on the expected FY22 performance, and ongoing benefits of scale, Bigtincan has set a target of achieving cash flow breakeven in the FY23 year.
Bigtincan had $45.5m in cash at the end of March 2022, and is well funded to achieve its growth targets.
Q4 Business Update Based on the current planned new product releases, continuing logo wins and upsell to the expanded existing customer base in Q4 FY22, Bigtincan on track to meet or exceed FY22 guidance of $119m ARR, with encouraging signs of increased cross sell and upsell opportunities in the Brainshark customer base.
Underlying business presents a basis for future growth and profitability
“Building on the strong Q3 results, and with Bigtincan’s recurring revenue business continuing to grow in Q4, based on our multi-hub product strategy, and together with scale gained from the Brainshark acquisition we are seeing ongoing benefits for the short and longer term outlook,” Bigtincan CEO and Cofounder David Keane, said.
