Not a lot of news in the latest Quarterly Activities Statement. $300K outflow before the R&D rebate. It appears that further work has been necessary to satisfy potential big clients including boosting the back end processing power of the Climatics platform to meet proposed new reporting requirements coming as early as 2024. Earthquake alerts (post event) might have a higher profile following the recent Victorian quakes. Revenue growth has been slow but the company continues to do the ground work to build the necessary scale to be FCF+ve

Cashflows from operating activities were $1,094,194, including R&D rebate of $389,457

Customer receipts for the quarter were $684,021(unaudited)

Revenue for the quarter was $897,573.81

Cash and cash equivalents at the end of period were $2,581,492

Earthquake (post event) alerts introduced

Expansion of our sales and programming teams, foundations in place for further growth over the coming FY

Further customers are scheduled to be onboarded within Q1 2024 and leading up to the next hail season.

Climatics is well placed to provide the physical risk reporting requirements that companies may need to meet the new reporting requirements which are expected apply as soon as 2024 for large businesses. 

Monetisation is based on calls through the API based on number of assets, perils, and location.