This was an impressive quarter from Credit Clear.

Highlights:

• Record revenue: $11.5m1 up 28% on prior corresponding period (pcp) with growth driven

by winning more share of wallet from existing clients and growing revenue from new

clients

• Cash from operations: $1.8m1 for the quarter, an improvement of $1.6m on pcp, and the

fifth consecutive quarter of positive cash from operations taking YTD net cash from

operations to $3.6m

• Guidance achieved: FY24 Underlying EBITDA3 of approximately $4m1 and revenue of

approximately $42.0m1. The Company will provide FY25 guidance with the upcoming FY24

results on 28 August 2024

• Strong balance sheet: $13.1m cash at bank, an improvement of $0.7m QoQ and $1.1m on

pcp, leaving the Company well positioned to fund growth opportunities

• Clients signed: 85 new clients signed, including five expected tier-2 clients2,4 and 20

expected tier-3 clients2,4.

• Digital collections: Up 65% on pcp to $33.2m for the quarter, surpassing $10.0m for each

month in the quarter and achieving a record month of $11.8m for the quarter, with digital

technology boosting performance and profitability

• Strong trading conditions: Increasing demand for Credit Clear's services highlighted by

the Company’s Consumer division receiving 56% more files in H2FY24 2024 on pcp.

Takeaway

All key metrics are heading in the right direction on the revenue, cost, earnings and cash flow lines. The company seems to have inflected into profitability, stringing a few OCF positive quarters together.

Combined with an asset light business model and the obvious tailwinds from AI, and it is setting up well to continue to outperform over the coming quarters.