Quarterly update released today and the results are decent but hardly setting the world on fire. As always you should look for what isn't being commented on, in this instance it is yet another drop in total number of users, down to 163k, just why a company would not comment on a core metric is beyond me and really doesn't install confidence in management being transparent.
Key highlights (just cut and paste from announcement)
▪ Record transaction and recurring SaaS revenue of $1.2 million, up 13% on the previous corresponding period (PCP) and total revenue of $2.0 million
▪ Cash receipts from operations of $2.3million, up 36% vs PCP
▪ Net operating cash flow for the period of $3k
▪ Annualised Recurring transaction and SaaS Revenue (ARR) of c.$5.0 million at 30 Sept 2024 ($5.0 million at 30 June 2024)
▪ Change Request revenue from existing customers grew to $510k, up 523% vs PCP
▪ Hosting and infrastructure costs have decreased 23% vs PCP to $273k ▪ ARPU of $29.90 up 13% vs the prior quarter
