The Xref (ASX:XF1) share price is surging 16% today. Here’s why

The Xref Ltd (ASX: XF1) share price is surging today after the company announced its revenue has increased by 36% this year while its costs have remained flat.

The Xref share price has risen 16% today to 29 cents per share.

Xref is a human resources technology company that automates the candidate reference process for employers. Essentially, it provides a data-driven analytics process that replaces the human, phone-call references that most people are familiar with.

It gathers data on the employee, the company and the role and then uses this to provide a report to hiring directors, letting them know whether the employee is suitable for the role they’re advertising.

It derives most of its revenue from Australia but also has a…