Key Highlights:
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Recurring Revenue up 16%: Total revenue up 12% to $9.9 million and recurring revenue from license and support fees up 16% to $9.6 million.
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Key customer contract renewals: Key enterprise renewals with ANZ Bank, Singtel, Optus and over 15 public libraries with multi-year contracts.
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Focus on strategy refinement: Strategically prioritised investment in areas of highest growth potential, following two years of acquisition growth.
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Operational restructure: Restructure of operations in June 2023, designed to reduce future annual operating costs by $1 million, primarily through reduction in head count.
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Disciplined cost control: Net cash out flow from operating activities of $0.8m and cash balance of $4.2 million as at late July.
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Improved results: Net Loss After Tax of $2.2 million, an improvement of 28% on the previous corresponding period.
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Strengthening pipeline in FY24: Focus on enterprise and mid-market opportunities in areas of highest potential growth is expected to achieve revenue growth whilst targeting EBITDA breakeven.
Knosys Limited (ASX:KNO) (“Knosys” or the “Company”) is pleased to provide its financial results for the financial year ended 30 June 2023.
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