Media ReleasesMGM Wireless

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First Half Results - Record Performance and Revised Guidance


Highlights:
• Record revenue $7.6 million, up 87%*
o First half exceeds total FY19 revenue
• Record gross profit $5.1 million
o GP margin of 67%
• EBITDA $0.45 million
• Net loss $2.7 million, due to one-off non-cash expense of options issued of $2.4 million
• Cash of $5.0 million and debt of $1.75 million at 31 December 2019
• Post 1H FY20, new monthly AllMyTribe app subscription record of $120,000 for January 2020, up 180%
• AllMyTribe app annualised run rate of $1.44 million, up 180%
• FY20 revenue $12 million - $13 million expected, an increase of 70%-85% on FY19

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