Key Highlights:
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Strong cash receipts: Q3 FY23 cash receipts of $3.1m, up 52% on Q3 FY22, driven largely by timing of annual license fees from two Enterprise customers.
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Steady Annual Recurring Revenue (ARR): ARR of $9.5m at April 2023, up 7% year-on-year and steady quarter-on-quarter.
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Minimal Net Operating Cash Outflow for Quarter: Net operating cash outflow of $26K in Q3 FY23, year to date net operating outflow of $208k.
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Cash balance of $2.7m at 31 March 2023.
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Key customer renewals on multi-year contracts: Achieved recent multi-year contract renewals with library management solution Libero including Wagga Wagga City Council and the Woollahra Municipal Library
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Outlook for FY23: The pipeline of sales opportunities continues to develop heading into FY24, however the time to finalise and proceed to contract sign-off has lengthened in 2H FY23 for some customers, reflecting the mixed economic signals in early 2023.
Knosys Limited (ASX:KNO) (“Knosys” or the “Company”) is pleased to provide its March 2023 quarterly activity report and update on the Company’s operations and business.
For more information, download the attached PDF.
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