Taken directly from the ASX annoucement posted this morning before trading opened. Full Announcement here: https://www.asx.com.au/asxpdf/20200414/pdf/44gxmq94pmxq4x.pdf

• Annualised recurring revenue1 (ARR) reaches $55.2 million as at 31 March 2020, up from $52.7million as at 31 December 2019. ARR has grown 60% in the last year and is up 4.9x in 2 years
• LiveTiles is well positioned during the current environment as the global leader in intranetsoftware and its applicability to remote working. LiveTiles is actively supporting over 1,000 recurring subscription customers to support remote employee communications, operating system access, collaboration and document sharing
• Material cost reductions have been implemented in late March and early April, with the business well placed to operate with this reduced cost base from Q4
• LiveTiles is well capitalised with over $33m cash on hand as at 31 March. The Company is accelerating its efforts to reach breakeven operating cash flow and is taking tangible steps to reach that point during calendar 2020
• LiveTiles reconfirms it has no requirement to raise further capital to fund operating cash burn

Further notable information regarding cash burn:

One-off cost impacts, including FX impacts on US and European cost base, will see operating cash burn in the range of ~$9m for Q3, notwithstanding further growth in cash receipts. Material cost reductions have been implemented late in Q3 and early in Q4. Actions implemented and underway include:

• Consolidation of office locations, with all remaining offices currently unoccupied and all employees successfully switching to remote working;
• Lower travel and event marketing expenses due to COVID-19;
• Reduction in external contractors and consultants;
• Temporary reductions in hours and salaries across the global workforce, including 20% reductions for the Board and all senior leadership. These reductions will be in place for at least six months; and
• Accelerated integration of CYCL and Wizdom. The Company is reviewing additional options to reduce cash burn, including short-term revenue and cost initiatives. The reduction in cash burn will commence in the June quarter, with the full benefit to be realised during the September quarter.

ASX:LVT was up 17% at time of writing.