Knosys saw a 19% lift in license and support fee revenues for the year, and now has an annual run rate of $3m in recurring revenues.
The buisness was cash flow positive for the 4th quarter, up $0.4m. It now has $3.7m in cash.
The company said it was well placed to capitalise on the increasing trend of working from home, and is on the hunt for potential bolt-on acquisitions (which would almost certainly require a capital raise).
You can read the full quarterly results here
Knosys has signed a deal with ANZ New Zealand to migrate its data to a standalone Knowledge IQ system -- a decision driven by a regulatory requirement not to have technology systems dependant on any foreign parent entity.
The deal is expected to generate $840k in service fees over 9 months. For context, KNO generated $396k in customer cash receipts in the March quarter -- so this is a significant deal.
I quite like the business, but am wary of the customer concentration. I do not hold at present.
ASX announcement is here
From march quarter update
Should i be worried? -
Finally why are staff costs so high: