Melbourne, Australia, 28 February 2022: AD1 Holdings Limited (ASX: AD1) (AD1 or the Company) today released its results for the half year ended 31 December 2022
Key highlights of HY22:
-- Significant revenue and customer receipts growth of 48.6% and 68.0%, respectively compared to HY21.
-- HR Tech (recruitment and mentoring solutions):
* Addition of 39 new logos with an estimated lifetime value of over $3 million in the first half of FY22.
* Milestone contract signed with HR.com, a US-based HR social network containing 1.9 million HR professionals, which has created a pathway for AD1 to connect with new networks across North America, creating a significant new active pipeline to be realised in H2FY22.
* Major contract wins across the board including Australian Department of Defence, Royal Australian Air Force, Queensland Department of Premier & Cabinet and Zimmer Biomet along with 4 other international clients.
* Our “Off the shelf” new product build has created the opportunity to provide our existing customers with a more robust product and improved customer experience with contract renewal discussions underway. The extension of Pharmacy Guild was an important renewal.
* Continued product innovation continues across both HR Tech businesses. The employment market is under pressure globally and the AD1 products are well positioned to compete and create value in this highly competitive market.
-- Utility Billing Solution
* Continued to observe a steady organic growth of 6% and 27% compared to FY21 and HY21, respectively with new opportunities in the pipeline progressing through later stages.
-- $5 million in funding secured in a partnership with PURE Asset Management (PURE) to execute its immediate and expanding growth strategy.
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