Urbanise.com Limited reports H1 FY2021 result

•  Licence revenue of $4.33m, up 14.0% on H1 FY2020
• Total revenue of $5.73m, up 25.6% vs pcp1, 75.6% recurring
•  EBITDA loss of ($0.98m) vs ($1.29m) in H1 FY2020, 24.0% improvement vs pcp
•  Net loss of ($1.42m) vs ($2.06m) in H1 FY2020, 31.0% improvement vs pcp
•  Annualised recurring revenue (ARR)2 of $9.13m, up 16.4% vs pcp
• Backlog3 estimated at $1.40m as at 1 January 2021
•  Underlying average monthly cash used of $281k (H1 FY2020: $218k)
•  Closing cash balance of $9.03m4 and no material debt5
•  COVID-19 Update: No material impact to date on the demand for Urbanise’s cloudbased software

DISC: I hold

21/1/21

Appendix 4C & Quarterly Activities Report for the period ended 31 December 2020

• Q2 FY2021 revenue $2.98m1, up 29.4% vs previous corresponding period (pcp) due to record professional fees for Facilities Management and licence fee growth

• Q2 FY2021 professional fees of $711k1, up 118.8% vs pcp reflecting recent contract wins and expanding customer base among asset owners as well as Tier 2 FM outsourcers

• Q2 FY2021 recurring licence revenue of $2.26m1, up 15.2% vs pcp as a 27.3% increase in Strata licence fees due to progress on PICA implementation and new Dubai Asset Management contract was offset by a mixed performance in the Middle East

• H1 FY2021 revenue of $5.73m1, up 25.6% vs pcp and licence fee revenue of $4.33m1, up 14.0% vs pcp; 75.6% recurring revenue

• Underlying2 cash out flow of $870k1 in Q2 FY2021 and underlying average monthly cash used of $290k largely reflecting additional investment in sales and marketing

• Closing cash balance of $9.03m1 (31 Dec 2019: $4.59m) and no material debt3 following successful completion of $6.80m placement during the December quarter

• COVID-19 Update: To date, there has been no material impact on the demand for Urbanise’s cloud-based software

• Urbanise’s H1 FY2021 result will be released in February

DISC: I have small holding