Key Highlights:
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Record cash receipts: Q1 FY23 cash receipts hit a record high of $4.3m, up 45% on Q1 FY22. Seasonally, the first quarter has the strongest cash flow due to annual renewals across all product lines.
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Increasing Annual Recurring Revenue (ARR): ARR of $9.6m as at October 2022, up 16% yearon-year.
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Positive quarterly cash flow: An increase in R&D costs and product manufacturing & operating costs was more than offset by record cash receipts to deliver positive operating cash flow of $1.1m.
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Major contract extension: ANZ Bank signed a 3-year contract extension for enterprise Knowledge Management solution, KnowledgeIQ, with a total contract value over $5m.
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Outlook for FY23: Approaching cash flow breakeven in FY23 with a solid pipeline of opportunities, continued growth in the recurring revenue base and increased operating leverage.
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