Dropsuite ASX:DSE have released an Investor Presentation which included their 2021 AGM results.
The comparisons between FYs 2020 and 2022 show key metrics still heading in the right direction.
As noted in the last few quarterly updates Dropsuite have tipped over into Cash flow positive status.
I continue to hold Dropsuite in RL as well as in my Strawman portfolio .
This is based on the assumption that existing and future customers consider their cloud backup solutions as an essential rather than an optional expense.
Acquisitions are still being talked about by Management as a way to supplement the organic growth of the company.
ASX: DSE Financial Summary for FY2021 Jan to Dec 2021
(A$Million) 2021 2020 Change (%)
Revenue from operating activities 11.69 7.03 66%
Other income 0.14 0.78 (82%)
Gross margin % 64% 65% (1%)
Operating expenses (7.54) (6.30) 20%
Net (loss) from ordinary activities (0.03) (2.14) (99%)
EBITDA 0.003 (1.66) (100%)
Underlying EBITDA 0.39 (1.41) (127%)
Cash Receipts from customers 10.96 6.09 80%
Net Cash Generated/(Used) from Ops 0.26 (1.79) (114%)
Cash on Hand 21.60 2.48 770%
FY21 Operational Metrics
Annual Recurring Revenue $15.2m 80% on PCP
Paid Users 649k +51% on PCP
ARPU $1.95 19% on PCP
Net Revenue Retention more than 125% for 12 months ending 31st March 2022
409 Direct Transacting Partners 29% on PCP
Revenue Churn ~3% no change on PCP
