The caravan-sharing platform is enjoying great times as today’s price action has pushed shares of the caravan-sharing platform 110% higher over the past month, a report said.
Camplify shares have risen due to a variety of catalysts.
The company has not released any price-sensitive information to explain today’s price action.
Despite the lack of news, the New South Wales government’s ‘Roadmap to Freedom’ could explain why shares in Camplify are soaring.
This roadmap states that travel restrictions could be relaxed if the state reaches its 70% double-vaccination target.
Domestic trips can now be made, as well as trips to regional areas, caravan parks, and camping grounds.
Another catalyst that has propelled the Camplify share price higher in the past month was its full-year results for FY21.
Despite the impact of COVID-19, Camplify reported strong growth for FY21.
The company noted that the gross-transactional value (GTV), grew 170% to $32.9 million for the entire year. Camplify pointed out that GTV increased in every market where the company is present.
The Camplify share price since the announcement has steadily risen.
Other highlights of the company’s FY21 report included the GTV compound annual growth rate (CAGR) of 103% (FY19 – FY21), $8.4m revenue, continuing strong growth. The Revenue CAGR of 129% (FY19 – FY21) and take rate increasing to 25.7% have also been noted.
Camplify made a special mention of the UK segment. This saw a 523% increase in revenue despite being locked down for 137 days.
Camplify is a digital platform that’s similar to Airbnb. It allows campervan and motorhome owners to rent their vehicles out to other people.
It is available in Australia, New Zealand, and the UK. Camplify also boasts one the largest RV fleets of Australia, with 5400 vehicles in its books.