8Common (ASX:8CO) announced financial results for the quarter ended 30 September 2022.

Record quarterly transaction and recurring SaaS revenue of $894k, up 31% on the previous corresponding period (pcp).

ARPU of $19.60, up 20% vs PCP and the highest figure since pre pandemic levels.

Federal Government ARPU >$51 in the month of September an important indicator given the growing number of federal government users to be on-boarded under the GovERP program.

Total revenue for 1Q FY23 of $1.2 million up 43% vs pcp.

Annualised Recurring SaaS and transaction Revenue (ARR) of c.$3.7 million at 30 September 2022.

Net cash outflow from operations for 1Q FY23 of $470k.

Cash balance at 30 September 2022 was $2.5m (30 June 2022: $3.25m) providing sufficient capital for 8CO to continue executing on growth strategies.

Following the announcement the company?s share price rose 2.083%.