Melbourne, Australia, 26 July 2023: AD1 Holdings Limited (‘AD1’, the ‘Company’ or the ‘Group’) (ASX: AD1), a technology company with a portfolio of market-leading software
businesses, today releases its business update and Appendix 4C for the quarter ended 30 June 2023 (Q4 FY23).
Key highlights
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Cash balance at end of the financial year of $1.3m
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Cash receipts for the quarter of $2.3m, a 16% improvement on the prior corresponding period (pcp)
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Net cash used from operating activities has improved by 83% on pcp, achieving only a $0.2m deficit this quarter against a $1.1m deficit in pcp
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Group unaudited total revenue approximately $7m for FY23
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Art of Mentoring (AoM) division revenue is up 34% year-on-year (YoY)
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ApplyDirect revenue has increased 10% YoY
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USS sub-licencing has been finalised and that operation will be discontinued from 31 August 2023
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A continued strong pipeline for the US market with regular contract wins and expanding revenue on existing contracts being delivered
For more information, download the attached PDF.
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