Etherstack is pleased to provide a trading update and revenue guidance for the financial year ending 31 December 2023. All amounts are in USD.
Trading update
The unaudited 30 June 2023 half year results are:
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Revenue: revenue was $2.9 million down 40% on the prior corresponding period (half ending 30 June 2022 or “pcp”). The decrease is primarily due to project delays outside of Etherstacks’ control but also reflects the inherent nature of Etherstack’s revenues which may be volatile when driven by a small number of large projects and associated milestones which often balance out in the subsequent half. Revenue guidance for the full year ending 31 December 2023 is set out below
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EBITDA: EBITDA is ($0.54) million down from $2.2 million in the pcp
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Statutory net profit/(loss) after tax: Statutory net loss after tax is ($1.5) million a decrease from $1.6 million profit for the pcp
Full details will be set out in the half year financial report to be finalised shortly
For more information, download the attached PDF.
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