SharpSpring (NASDAQ:SHSP) is one of the top performing micro small-cap stocks. Its shares rose more than 170% since the start of this year, buoyed by record financial numbers and massive growth in its customer base. The latest SharpSpring shares rally has pushed its price to an all-time high of $11 at present.
SharpSpring Shares Rising: Financial Numbers Improve
The company has been generating record financial numbers quarter over quarter. Its first-quarter revenue soared 40% to a record level of $4.2 million. The company claims its market strategies and investments in growth projects are contributing to its robust revenue growth.
The company added 223 new customers in the last quarter alone. These customers selected the SharpSpring platform to create leads, translate more leads to sales, and calculate the return on the investment of their marketing campaigns.
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Besides revenue growth, its gross profit improved to 67% of the total revenue from 58% of the total revenue last year. Although the SharpSpring net loss was standing around $0.24 per share in the latest quarter, the company claims it is well set to enhance profitability in the days to come.
“Moving forward, as we progress further in 2018, our pipeline is more extensive than ever—than it’s ever been and we are building momentum that will benefit us in both the short term and long term,” said SharpSpring CEO, Rick Carlson.
Cash Position and Balance Sheet Support Growth Activities
The company expects similar financial results in the following quarters, and their cash position permits them to explore growth opportunities.
SharpSpring ended the latest quarter with $12.3 million in cash – significantly higher from $5.4 million in the same period last year. The growth in its cash position was driven by the offering of $8 million convertible notes. Overall, SharpSpring appears to be in a robust position to support its share price momentum through increasing financial numbers and growing market share.
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