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Updater Inc reaffirms revenue guidance for CY2018

Jessica Nagle was elected as a director at today's AGM.
three empty board room seats
Ryan Hubbard was re-elected as a director at today's AGM

Updater Inc (ASX:UPD) has reaffirmed CY2018 total revenue guidance in the range of US$19 to US$23 million as previously stated in the March quarterly report.

The company also used its annual general meeting (AGM) today to confirm it is on track to achieve its Paid Program goals as also detailed in the March quarterly.

The company’s software and services help organise and complete moving-related tasks including mail forwarding, updating accounts and records, transferring utilities, etc.

March quarter bookings up 32%

Updater’s March quarter bookings totalled US$2.19 million, an increase of 32% over the prior December quarter bookings of US$1.66 million.

Bookings are the fees invoiced to signed customers or clients in the quarter and most accurately reflects the adoption of the Updater’s platform and all contractual obligations to pay the company.

At 31 March 2018, the company held about US$44.46m in total cash and remained debt free.

New York based relocation technology company

Updater is a technology company that builds powerful tools to help people move and headquartered in New York City.

With Updater, users seamlessly transfer utilities, update accounts and records, forward mail, and much more.

Hundreds of the most prominent real estate companies in the US (from real estate brokerages to property management companies) rely on Updater to help their clients transition to their new home.

With significant market penetration of all US household moves, Updater enables contextual and personalised communication between relocating consumers and the US businesses spending billions of dollars trying to reach them.

View full UPD profile View Profile

Updater Inc Timeline

September 26 2016

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