FY24 Q3 SALES UPDATE
New Sales of $2.9m, ARR grows 11.4% PCP to $62.6m
Key Highlights:
- New Sales of $2.9m, including New ARR of $1.8m and Project Sales of $1.1m. EVS Industrial continues to drive the Company’s growth, with the Americas region maintaining its strong contribution.
- Total ARR grows 11.4% PCP to $62.6m.
- New ARR of $1.4m in EVS Industrial underpinned by solid growth in the Mining sector, including the first mine site landed with new customer LKAB in Sweden, and expansions of existing solutions with Capstone Copper in the USA, Teck Resources in Canada and Glencore’s Cerrejón mine in Colombia.
- This includes New ARR of $0.1m in EVS Water sales. As EVS Water was recently consolidated into EVS Industrial, the Company will no longer provide sales updates for EVS Water.
- EVS Aviation achieved New ARR of $0.4m, including expanded solutions on top of a five-year renewal with Dublin Airport in Ireland, and a new noise and operations management system to be provided to Korea Aerospace Research Institute in South Korea.
- Envirosuite reaffirms its outlook to deliver positive Adjusted EBITDA less Capitalised Development on a run rate basis during FY24, continuing to focus on prudent cost management while delivering sustainable growth.
- Churn over the last twelve months (LTM) increased slightly to 3.7%.
- The Company will host an investor briefing session today at 11:00am AEST.
Click here to register: Envirosuite FY24 Q3 Sales Update
24 April 2024 - Leading environmental intelligence technology company Envirosuite Limited (ASX: EVS) (Envirosuite or the Company) is pleased to announce that it has achieved $2.9m of New Sales in FY24 Q3 (Q3), with New ARR of $1.8m and Project Sales of $1.1m. Total ARR has grown to $62.6m, up 11.4% PCP.
Envirosuite has delivered solid new ARR growth this quarter particularly within the Mining and Waste sectors which are a strategic focus for EVS Industrial growth. Demand for environmental intelligence technology within these sectors continues to build, with both leading mining companies and US municipalities increasingly looking for innovative and proactive approaches to protect and optimise productivity while managing environmental and community impact responsibly and sustainably.
Envirosuite CEO, Jason Cooper, commented,
“The Company continues to achieve sustainable growth as it remains focused on delivering on its guidance target of positive Adjusted EBITDA less Capitalised Development on a run rate basis in FY24.
“The EVS Industrial growth we are seeing, particularly from the Mining and Waste sectors and in the Americas region, is a direct reflection of the Company’s focused growth strategy in these segments and is further supported by macro-economic drivers including ESG, Environmental Justice in the USA, and the increasingly prevalent need for industry operators to demonstrate responsible operational practices. The calibre of customers we are adding each quarter within these focus sectors coupled with our proven strategy to further expand and scale these relationships, is testament to this – demonstrated in Q3 through key wins with LKAB, Capstone Copper, Teck Resources, Glencore’s Cerrejón mine, Atlantic County Utilities Authority, and a fourth landfill site won with our strategic partner Byers Scientific.
“Envirosuite continues to extend its market leadership position within the Airports sector, headlined this quarter by a long-term renewal with Dublin Airport to continue providing the existing noise and operations management system while also expanding the agreement further to provide additional community engagement and noise quota management solutions. We are proud of the long-standing, deep relationships we have with our Aviation customers and continue to work with them to solve the industry’s current and future challenges.”
