Aconex Ltd
(ASX:ACX), which provides a cloud platform for project management, has released its September quarter update.
At 30 September, Aconex reported a cash balance of $46.5 million, and net operating cash flow from core operations totalling $2 million.
As for its FY17 outlook, the company forecasts revenue will be between $172 and $180 million, and EBITDA to range from $22 to $25 million.
The company says, underpinning this outlook, is solid underlying growth and momentum. In addition, the company has factored in oil price uncertainty (which has caused delays in decision making in the Middle East), and lower than expected European business growth (due to Brexit uncertainty).
Aconex posted a net profit of $5.7 million at 30 June 2016.
