Key Highlights for First Half FY2024:
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$5.3M revenue with a significant reduction in cost base: Total revenue of $5.3m, stable on pcp, and $1.4m in expense reductions produces a positive EBITDA of $0.6m.
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Net Profit: Net profit attributable to members of $0.1m, compared to $1.3m net loss on pcp.
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$9.4m Annual Recurring Revenue (ARR): ARR of $9.4m at January 2024, steady year-on-year.
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Positive operating cash flow: Operating cash inflow of $0.7m, compared to an operating cash outflow of $0.2m on pcp.
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Refined growth strategy: In line with market demand, priority will be given to Library Management Solutions (LMS), including the continued development of the new next-generation mobile applications.
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Strong cash balance: Cash position of $2.7m at 31 December 2023, further increased to $3.9m by 31 January 2024.
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Positive outlook for FY24: On track to deliver positive EBITDA in FY24, whilst continuing to invest in solutions with high growth potential.
Knosys Limited (ASX:KNO) (“Knosys” or the “Company”), is pleased to report on its first half FY2024 (“1H FY24”) financial results for the period ending 31 December 2023.
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