Bigtincan Holdings Limited (ASX: BTH) (“Bigtincan” or the “Company”), a front-runner in AI-powered sales enablement automation, is excited to share a comprehensive business update following its post FY23 Results Roadshow.
Key Updates Include:
1. Cost Reduction Initiative: Bigtincan has launched a significant cost-reduction program that targets a 10% reduction in its normalized operating expenditure (adjusted for bonuses and other variable period payments). The plan encompasses the trimming of full-time positions, particularly in non-customer-facing roles within the USA, alongside the recalibration of contractor and program expenditure.
This initiative follows the promising efficiencies realized in FY23 when Bigtincan transitioned to a cash flow breakeven. Moreover, FY23 witnessed a considerable surge in both Adjusted EBITDA and EBITDA, with the Adjusted EBITDA recording an impressive $8.3m, marking an over 100% upsurge compared to FY22.
2. Modus Engagement Integration: The Company proudly announces the continued progression in integrating Modus Engagement Inc, which will unlock Multi-Hub opportunities for the first half of FY24.
3. Recognition by Gartner: Adding another feather to its cap, Bigtincan has been distinguished as a leader in Sales Enablement in the Gartner Market Guide 2023.