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#Trading Update
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Last edited 2 years ago

Xref has reported their trading performance during the final quarter of the Company’s 2022 financial year (Q4 FY2022). Unaudited results for the quarter show sales of $5.8 million and cash receipts of $5.5 million. Revenue also reached $4.6 million.

Xref has achieved $21 million in sales during FY2022, up 35 % on the previous corresponding period. Revenues totalled $18.6 million for FY2022, up 28 % on the previous corresponding period. 

Revenue from the use of Xref Credits grew 27% and sales of Xref Credits grew 4% when compared to the previous June Quarter. However, the lower demand for cryptocurrency reduced Identity checks sold by RapidID by 62% when compared to the same period. As a result, sales were $5.8m, 9% lower when compared to Q4 FY2021. For this reason, the following operational update compares growth figures with the proceeding Q3 FY2022 results. Despite the decline in demand for crypto Xref is excited to launch the Trust Marketplace. Sales of identity and graduate checks as well as additional checks from vendors on the Trust Marketplace will replace the reduction in sales from the Crypto market. RapidID was highly dependent on crypto clients previously and the new growth plan will diversify the revenue sources of Rapid and therefore de-risk that part of the business. A detailed update on the Trust Marketplace will be released during its website launch in September.

Executive Director / CEO Lee-Martin Seymour said: “During the fourth quarter many of the organisations we work with had been adversely impacted by floods, sickness, salary pressure, rising interest rates, the effects of war in Ukraine and the Australian federal election. However, due to the broad sectors and regions that contribute to our revenue we have once again broken records, remained profitable and demonstrated our resilience. We are delighted to launch our new investor presentation which showcases our new platform, strategy and value and signals what is set to be a very exciting year ahead.”


#ASX Announcements
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Added 3 years ago

Quarterly Update: Xref Announces Strong Start to FY21

  • Sales (Xref Credits Sold) - $2.4 million
  • Revenue (Xref Credits Used) - $2.2 million
  • Cash Receipts from Sales - totalled $2.5 million
  • Cash Expenses - totalled $2.8 million

Xref Limited (ASX:XF1), the human resources technology company, today reported a successful first quarter of trading, despite the impact of COVID-19. Unaudited results show sales reached $2.4 million, and cash receipts were also strong at $2.5 million. Credit usage reached $2.2 million for the quarter, which was an encouraging return to pre-COVID-19 levels.

Although faced with turbulent and disrupted market conditions during the quarter, caused by the pressures of COVID-19 globally, Xref was able to deliver a solid sales result. In addition to the five notable client wins announced on September 8, a further 45 new clients were introduced including, the Department of Treasury (Federal) in Australia, Marvel Med Staffing in Canada, The Open Polytechnic in New Zealand and The Gleneagles Hotel in Scotland. Further information about these new clients follows as an appendix

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#ASX Announcements
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Added 4 years ago

Xref Announces Notable New Client Wins Across All Sales Channels

  • Four notable client wins across US, UAE, AU and NZ during July and August FY21
  • Xref Lite, channel partnerships and direct sales all contribute to client acquisition
  • Multi-region, multi-language, global support, ATS integrations and unified checks continue to drive demand

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