Client retention on a trailing 12 month basis was 97 per cent while client upgrades of US$1.4 million in the June quarter were up more than five fold on the June quarter last year.
Diligent said its continuing profitability on an operating basis "highlights the financial leverage" of its Saas business model and further evidence of its operational and financial strength was shown in the US$5 million increase in cash flow in the latest quarter which took cash at June 30 to US$17.2 million.
Annualised recurring sales at June 30 reached US$39.2 million, up from US$14.9 million a year earlier, "dramatic top line growth by any standard," the company said.
"Most importantly, Diligent's senior management continues to deliver on both profitability and revenue growth," it said.
"Diligent's management expects the positive trends in cash flow and improved balance sheet strength and flexibility to continue throughout 2012."
Diligent shares closed yesterday at $3.92, just below their record $3.97, and were being bid higher.
That's a long way from the year low at $1.02 and as low as 7 cents in March 2009 when the company's future looked doubtful.
