EROAD Limited

ASX:ERD

EROAD Limited

ASX:ERD
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$0.835 (+4.4%)
Last close price
#418
Rank
9
Held by
56
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Forum Topics ERD ERD ASX Announcements

Pinned straw:
actionman
Last edited 6 months ago

EROAD achieves positive free cash flow in FY24 AUCKLAND, 23 May 2024:

Transportation technology services company EROAD Limited (NZX/ASX: ERD), with its purpose of ‘delivering intelligence you can trust, for a better world tomorrow’, today released its financial results for the 12 months ended 31 March 2024. All numbers are stated in New Zealand dollars (NZ$) and relate to the 12 months ended 31 March 2024 (FY24), unless stated otherwise. Comparisons relate to the twelve months ended 31 March 2023 (FY23).

Financial Highlights

• Achieved positive Free Cash Flow (to the firm) of $1.3m in FY24 compared to negative free cash flow (to the firm) of $29.9m in FY23. This improvement is the result of growth in units, price increases and cost control.

• Revenue increased to $182.0m for FY24 from reported revenue of $174.9m in FY23 and normalised revenue of $165.3m in FY23. This represents a 10.1% increase against normalised revenue for the prior comparable period, normalising for the one-off acquisition accounting adjustment of $9.6m in FY23 relating to the Coretex merger. Growth in revenue was delivered across all markets.

• Annualised Monthly Recurring Revenue increased by $24.1m (15.7%) to $177.8m in FY24 from $153.7m in FY23, reflecting growth across all markets and support by favourable foreign exchange.

• EBIT of $0.8m in FY24 compared to $1.7m in FY23. Normalised2 EBIT increased to $4.4m in FY24 up from $(4.5)m in FY23. Normalised for 4G hardware upgrade costs of $3.6m in FY24 and integration costs of $3.4m and one-off acquisition revenue of $9.6m in FY23.


Note that shares are up about 10% in the last few days. Take-over target anyone?

Not held anymore
thunderhead
Added 6 months ago

The shares are still some way below where the board rejected the latest takeover offer they got, so they have got it all to prove still.

12
Bear77
Added 6 months ago

I can understand why you don't hold ERD any more @actionman - while the last 12 months look OK - a rollercoaster - but higher at the end than the start:

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And they may have finally reached an inflection point, as you noted... It's been an unpleasant ROAD to have travelled for longer term investors:

1d87b42322f5c32d34bb42a3f1c5c617a4b4c8.png

Recent rises should be viewed in the context of where they've come from, and the low base that they've risen from.

Rocky Road indeed.

Not all New Zealand software companies are created equally. We've got Xero reporting today and the market loving it, however ERD and XRO are really chalk and cheese.

9