Strong FY22 revenue growth from strategic initiatives
Key Highlights:
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Sales revenue up 94% on pcp: Strong revenue growth driven by a full year contribution from GreenOrbit, a ten-month contribution from Libero and key growth initiatives.
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Annual Recurring Revenue (ARR) up 54% on pcp: Tracking at an ARR of $9.4m in July 2022
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Investing in growth: Additional investments in sales and marketing, product development and customer support, combined with a significantly larger post-acquisition operational footprint, increased operating expenses to $12m in FY22, up from $5.3m in FY21.
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Near break-even cash flow: In FY22, operating cash out flow was $220K, demonstrating that the strategic decision to invest in growth, was predominately self-funded.
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Solid cash position: The cash balance of $3.1m at 30 June 2022 increased further to $5m by end July 2022.
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Increased operating leverage in FY23: Knosys enters FY23 with industry trends driving a healthy pipeline of opportunities for its portfolio of solutions. Earnings and operating cash flow are expected to improve in FY23 as revenues increase faster than operating expenditure.
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