Melbourne, Australia, 31 January 2023: AD1 Holdings Limited (‘AD1’, the ‘Company’ or the ‘Group’) (ASX: AD1), a technology company with a growing portfolio of market-leading software businesses, today releases its business update and Appendix 4C for the quarter ended 31 December 2022 (Q2 FY23).
Key highlights
-- Positive cash from operating activities increased the cash on hand balance at quarter end
-- Cash receipts of $1.3 million for the quarter, 29% lower than the prior corresponding period (pcp) of Q2 FY22 due to delays in customer payment (had overdue debtors been collected within terms cash receipts for the quarter would have been up 20% on pcp)
-- Current year-to-date (YTD) revenue of $3 million, consistent with prior year revenue despite loss of LPE revenues in USS
-- Added an additional 13 customers across the Group increasing YTD new customers to 22.
-- The combined HR tech businesses revenues are up 31% yoy
-- AoM (Art of Mentoring) current YTD clients invoiced up 23% compared to pcp with a 20% increase in revenue vs pcp
-- ApplyDirect launched an automated customer reporting function
For more information, download the attached PDF.
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