Melbourne, Australia, 26 August 2021: AD1 Holdings Limited (ASX: AD1) (AD1 or the Company) today released its financial results for the financial year ended 30 June 2021.
Key highlights of FY21:
• Significant growth of 65% YoY in revenue for ordinary activities, contributed by both organic growth and business acquisition.
• Successful acquisition and integration the Art of Mentoring (AOM) business in October 2020 not only added over $1 million in revenue but also expanded the group’s footprint within the lucrative HR tech market. Since becoming part of the group, AOM has continued its strong performance and added over 20 new customers to its portfolio, ended FY21 with significant revenue growth of 35% and a strong pipeline moving into the new fiscal year.
• Platform growth YoY – 60% increase in Utility Software Services (‘USS’) meters under management, 37% increase in ApplyDirect users and 27% increase in inbound traffic.
• Strong momentum observed throughout the year within the utilities sector with the introduction of 3P Energy and Powerclub in H1 FY21 and the signing of LPE in H2 FY21.
• Achieved high customer retention (100% across the ApplyDirect and Utilities Software Services customer base and 83% within AOM).
• ApplyDirect signed a project with the NSW Government in May 2021 to enhance its iworkforNSW careers platform and the accompanying mobile applications. The product "refresh" will further enhance the candidate experience and support NSW Government as an employer of choice. The development is well progressed and expected to be made available to the NSW Government in what was August 2021, will be September 2021.
• Introduction of the ApplyDirect’s off-the-shelf product with development currently on the way with expected pilots underway in the September 2021 quarter. Once product market fit is confirmed the B2B SaaS product will open opportunities within the broader market.
• Successfully secured $2 million debt facilities to support the delivery of revenue generating initiatives
AD1 Managing Director and CEO, Brendan Kavenagh, said: “FY21 has been a successful year for achieving significant YoY growth. The acquisition of Art of Mentoring has strengthened the Groups HR Tech footprint in what is a very quick moving and competitive space. AoM continue to respond to demand and are continuing to build on their client portfolio. ApplyDirect continues to support existing customers and delivering on projects to improve the service offering. Parallel to this, ApplyDirect is currently investing in the recruitment platform and is focused heavily on bringing that product to market with a series of pilot projects over the coming months.”
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