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FY24 Q1 SALES UPDATE
$3.7m Sales up 9% on PCP,
Company ARR grows 10% on PCP to $60.6m
Key Highlights:
FY23 FINANCIAL RESULTS
$4.5m improvement in Adjusted EBITDA to $0.5m profit, cash flow positive of $0.7m from operating activities, ARR grows to $59.4m up 12% YOY
Key Highlights:
ASX Announcement
Board succession planning for FY24
29 May 2023 - Leading environmental intelligence technology company, Envirosuite Limited (ASX: EVS) (Envirosuite or the Company) is pleased to advise the commencement of a planned board renewal process that is expected to complete by the end of H1 FY24
At the commencement of the process, the longest-serving member of the Board David Johnstone has advised that he intends to step down from the role of Chairman at or by the 2023 Annual General Meeting subject to a suitable successor joining the board
Chairman, David Johnstone said,
"It has been a privilege to lead the board through so many years and significant events and see the Company grow into the leading international environmental technology company that it is today. The business is now at a scale and juncture where we are attracting significant commercial and corporate opportunities globally
Similarly, our positioning has attracted potential board candidates with the talent, industry knowledge and experience to lead and support the executive team in the next stage of our growth and by opening the Chair role I want to ensure that the strength of the Company and its prospects continues to be reflected in the board”
The Company expects to make further announcements on its board renewal process in due course
I don't really have experience with how these things normally work so unsure whether to take this at face value or a euphemism for something more sinister?
DISC: Held in SM & RL
Registration for the Envirosuite Q2 FY23 Sales Update
Envirosuite Limited intends to host an investor briefing following the release of its Q2 FY23 Sales Update on Wednesday, 1 February 2023
The webcast briefing will be held at 10:30am AEDT and hosted by CEO, Jason Cooper and CFO, Justin Owen
Please register to join the webcast via this link: https://events.teams.microsoft.com/event/d1983326-5327-46c1-868e-d8abe40f9465@5597ad34-a305-4edb-8df7-696be8094b6d
ASX ANNOUNCEMENT
Q1 Total Sales of $3.4m
$55.2m Total ARR up 13.6% PCP
$2.1m increase in new ARR up 23.5% PCP
Strategic alliance established with global leader Key Highlights:
WEBCAST
Investor Briefing Notification: Q1 Sales Update14 October 2022 - Envirosuite Limited (ASX: EVS) intends to host an investor briefing following the release of its Q1 FY23 Sales Update on Tuesday, 18 October 2022
The webcast briefing will be held at 10:30am AEDT and hosted by CEO, Jason Cooper and CFO, Justin Owen
Please register to join the webcast via this link: Envirosuite Q1 FY23 Sales Update
Questions from participants will be taken at the conclusion of the presentation. If you would like to submit a question at any time before or after the webcast, please email them to investors@envirosuite.com with the subject line: ‘Q1 FY23 Sales Update Q&A’
The recording will be made available on the Investor page of the Envirosuite website following the webcast
Product demonstration for investors
Envirosuite Limited (ASX: EVS) is pleased to invite interested shareholders and investors to a webinar demonstration of its products on Wednesday, 17 August 2022 at 3pm AEST
CEO Jason Cooper and Head of Product Management Andrew Barron will provide a 15-minute overview of EVS’s product strategy before and a 15-minute demonstration of each of Envirosuite’s three product suites
Agenda:
3:00 – 3:15pm (Overview)
3:15 – 3:30pm (EVS Aviation Demo)
3:30 – 3:45pm (EVS Omnis Demo)
3:45 – 4:00pm (EVS Water Demo)
Shareholders and investors can join via the link: Envirosuite Product demonstration
While there will be no Q&A facilitated during the presentation, the Company invites and encourages shareholders and investors to submit questions to investors@envirosuite.com either before or after the presentation
Envirosuite executes MoU for strategic partnership with Byers Scientific
Key Highlights:
27 April 2022 - Leading environmental technology company Envirosuite Limited (‘Envirosuite’ or ‘the Company’) is pleased to announce it has executed a Memorandum of Understanding (MoU) for a strategic partnership with Byers Scientific (‘Byers’), a technology, research and manufacturing firm that helps companies to manage industrial-scale odour and emissions.
The MoU sets out the terms of a proposed deal to enter into a strategic partnership agreement between Envirosuite and Byers for the packaged offering that combines the best-in-class Byers’ odour control systems and Envirosuite’s EVS Omnis platform to address complex odour and emissions problems for companies in the Industrial, Waste and Wastewater sectors. The combined solution will allow companies to monitor, manage and control odour and emissions. The technology is anticipated to support global business opportunities, drive revenue and increase customer traction for both companies.
Byers offers an odour control solution that combines custom-designed and manufactured equipment optimized with Cloud-based (IIoT) SCADA technology that has been successfully deployed in the waste and commercial agriculture space across North America. Byers’ odour mitigation strategies are informed by input from its research division, Byers Emissions Analysis (‘BEA’). Combining Byers’ research-driven control technology with EVS Omnis allows companies to model, predict, and mitigate odour and emissions while preserving critical community relationships.
Headquartered in the United States of America, Byers develops state-of-the-art odour mitigation solutions and equipment that helps its customers effectively achieve odour and emissions compliance. The strategic partnership between EVS and Byers aims to benefit both parties with greater market access and leveraging of the combined technologies and respective expertise to drive revenue and customer traction with the complementary nature of their businesses and strategic growth objectives in North America.
The parties are already engaged on a landfill project in King County, Washington, and a commercial cannabis project in Santa Barbara County, California.
Jason Cooper, Envirosuite CEO said;
“We’re excited to expand our opportunity potential with Byers Scientific, especially in the Waste sector where odour management and mitigation are a significant challenge in the United States. Having already partnered on two projects, we’re confident that the combined offering will help accelerate our growth in the waste and commercial agriculture sectors.”
Marc Byers, Byers Scientific President & Founder said:
“We have long admired Envirosuite’s innovative and advanced platform and viewed its capability as a common-sense combination with our own odour mitigation equipment and strategies. The opportunity to combine these offerings creates an industrial dream-team and provides the market with the most comprehensive odour management system available.”
About Byers Scientific
Byers Scientific is a globally recognized leader in the odor mitigation industry and believes that clean air is a basic human right. They provide custom-engineered, patented solutions to improve Indoor Air Quality and mitigate odor supported by data-driven emissions analysis and scalable Cloud-based technology. Learn more at byers-scientific.com.
+ a link to a short video on the partnership: https://www.youtube.com/watch?v=FHt5ypObpeQ
CEO to join the Board as Managing Director
Key Highlights:
23 February 2022 - Leading environmental technology company Envirosuite Limited (‘Envirosuite’ or ‘the Company’) is pleased to announce the appointment of the Company’s Chief Executive Officer, Jason Cooper as Managing Director effective 1 March 2022 (Appointment).
Jason joined Envirosuite in July 2020 as Chief Operating Officer, was appointed as Chief Executive Officer in March 2021, and has now agreed to join the board as Managing Director of the Company.
During his tenure to date, among his many achievements, notably Jason has:
Pursuant to ASX LR 3.16.4 the Company confirms that there are no changes as a result of the Appointment to Jason’s existing remuneration arrangements as CEO.
Q2 Sales Update: Strong results as Group ARR nears $50m
Key Highlights:
20 January 2022 - Leading environmental intelligence technology company Envirosuite Limited (‘Envirosuite’ / ‘the Company’/ ‘Group’) is pleased to announce a strong Q2FY22, resulting in total Group ARR nearing $50m at the end of the quarter at $49m.
Record total new sales orders for Q2 of $4.6m were achieved, including 1.8m of ARR and 2.8m of non-recurring project work. This 1.8m of new ARR for the quarter represented a 64% increase on the PCP, further adding to the company’s base of ARR. The new ARR apportioned across the Group’s three channel product offering as follows:
Further to the new sales in aviation the Company won major public tenders to continue servicing existing clients under renewals of long-term contracts.
EVS continues to maintain a strong ARR base with a stable churn rate of approximately 2% over the trailing twelve months. The reported ARR has been impacted this quarter due to discounts in Aviation to support long-standing customers and the Australian dollar appreciation across several currencies.
https://newswire.iguana2.com/af5f4d73c1a54a33/evs.asx/2A1352019/EVS_Q2_Sales_Update_Strong_results_as_Group_ARR_nears_$50m
EVS signs 5-year contract renewal with Airservices Australia
Key Highlights:
16 December 2021 - Leading environmental technology company Envirosuite Limited (“Envirosuite” or “the Company”) is pleased to announce a 5-year extension of its existing agreement with Airservices Australia (“Airservices”) a major client and contract of the Company.
Airservices is responsible for the safe and efficient management of 11% of the world’s airspace and the provision of aviation rescue fire-fighting services at Australia’s busiest airports. The purview of Airservices covers more than 51.7 million square kilometres and includes some of the busiest airline routes.
Under this renewal agreement, which has been extended largely on existing terms until August 2026, Envirosuite will continue to provide noise monitoring services under EVS Aviation’s product line for airport environmental management solutions. The parties have also agreed to work together in good faith to develop and agree the terms of a new agreement to apply for the extended term to better reflect the current commercial services being provided by Envirosuite, which will replace the current agreement which dates back to 2008.
The advanced software information that Envirosuite captures provides Airservices with independent data on aircraft noise events, as well as background and community noise captured through Envirosuite’s network of noise monitors.
Envirosuite’s Chief Executive Officer, Jason Cooper, noted the significance of this renewal to Envirosuite’s business, given Airservices Australia’s position as Envirosuite’s largest customer by revenue source.
#ASX ANNOUNCEMENT - Supplementary Information: Envirosuite executes MoU for strategic partnership with Aeroqual
05 November 2021 - Further to the announcement yesterday, we would like to provide additional information relating to the Aeroqual MoU
As announced on 4 November 2021, Envirosuite and Aeroqual have entered into a Memorandum of Understanding (MoU) in respect of a strategic partnership between the parties for a global business development of joint market operations (the Announcement). The MoU is a statement of intent between the parties and the commercial terms are not legally binding (except as otherwise outlined below) until the parties enter into a formal agreement.
Envirosuite released the Announcement in order to inform investors of the MoU and the potential new partnership that between the parties. Envirosuite acknowledges the requirements under ASX Listing Rule 3.1 and section 4.15 of Guidance Note 8 with regard to announcements and confirms as follows:
The terms of the MoU
The MoU sets out the terms of the proposed deal to enter into a strategic partnership agreement between Envirosuite and Aeroqual. As previously outlined in the Announcement, the MoU outlines the framework to support global business developments activities and explore integration of technologies for delivering air quality monitoring solutions (Deal).
The MOU sets out the principal terms and conditions on which Envirosuite is willing to enter into the proposed Deal subject to the agreement and signing by the parties of a formal binding agreement (Formal Agreement) in due course, with a target signing date on or around April / May 2022 (Target Signing Date).
The MoU is binding on the parties with regard to costs, intellectual property, providing notices to other parties, non-solicitation of employees and customers, confidentiality and announcements. Otherwise the MOU is not intended to be legally binding.
Significance of the MoU
The proposed Deal is significant as it could provide both parties greater access to market opportunities in their respective segments, drive revenue and increase customer traction.
Consideration that could occur as part of the MoU and the source of funding
The MoU does not create any financial or funding obligations on either party at this stage. Financial or funding arrangements may arise upon further discussions and entering into the Formal Agreement.
Any material conditions that need to be satisfied before the MoU becomes legally binding
The parties will conduct their respective due diligence and negotiate in good faith with a view to executing the Formal Agreement as soon as possible, and in any event by the Target Signing Date. Either party may, by notice to the other, terminate negotiations at any time (such termination not impacting the binding clauses).
Any other information relevant to shareholders
The Non-Solicitation period for employees and customers is for a period of 12 months from 27 October 2021.
DISC: Held in RL & SM
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