Rewardle Holdings Limited (ASX:RXH), a company focused on developing and commercialising its B2B2C software platform, has announced its preliminary final report for the year ended 30 June 2024. While the company saw a 2.8% increase in revenue from ordinary activities, reaching $9,676,264, it reported a loss of $3,441,023 attributable to owners, a significant shift from the $3,709,346 profit in the previous corresponding period. The company did not declare, recommend, or pay any dividends during the financial year.
The company attributed the loss to a substantial increase in total expenses, which rose by $6.3 million or 103% compared to the previous year. A significant portion of this increase, $2.2 million, was due to the company’s share of losses from its associates. The remainder of the increase was attributed to operating and employment expenses, mainly driven by increased consultant and contractor fees to support heightened activity. Rewardle’s net tangible assets per ordinary security decreased from 0.28 cents to -0.23 cents.
A key focus for Rewardle during the period was its growth services partnership with CloudHolter Pty Ltd, a MedTech business leveraging Rewardle’s platform in the health sector. As part of its strategy, Rewardle has arranged to convert licensing and professional service fees into shares in CloudHolter, allowing it to share in the potential upside. Additionally, Rewardle acquired distribution rights for the UpStreet Investors Fund and a controlling shareholding in meal-kit partner Pepper Leaf, consolidating operations with YourGrocer to enhance grocery delivery services.
Looking ahead, Rewardle expects CloudHolter’s growth and AI-based software development to deliver significant returns on its investment. The company is also integrating grocery services to commercialise its B2B2C platform, aiming to create a local community-powered alternative to major supermarket chains. Trading in the Company’s listed securities remains suspended and will continue until lodgement of the Company’s outstanding accounts.
