Successfully completed the €70.0 million acquisition of Connective, which closed on 20 December 2021, with robust post-acquisition integration activities ongoing.Successfully completed a A$140.0 million capital raise through the combination of an institutional placement and a retail entitlement offer.In the larger Business sales 2 channel, 88% of revenue in Q4 2021 was subscription, with this transition being effectively completed in FY2021. Transition to a SaaS business model continues 1, with subscription revenue now comprising 71% of total revenue in Q4 2021, compared to 58% in Q4 2020.FY2021 revenue including Connective was approximately US$50.9 million. FY2021 revenue excluding Connective was approximately US$50.7 million, an increase of 26% compared to FY2020, at the top end of the upgraded guidance range.ARR at 31 December 2021 including Connective was US$46.2 million. Annual Recurring Revenue ('ARR') at 31 December 2021 excluding the Connective acquisition was US$40.1 million, an increase of 41% vs.Nitro Software Limited (ASX: NTO) ('Nitro' or the 'Company'), a global document productivity software company driving digital transformation in organisations around the world, today releases its (unaudited) Appendix 4C Quarterly Cash Flow Report for the quarter ended 31 December 2021 and is pleased to provide the following update on financial and operating performance.
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