• Quarterly receipts from customers of $6.8 million, an increase of 59% compared to the last quarter.
• Positive cash flow from operations of $1.7 million for the quarter, an increase of 114% compared to the previous corresponding quarter.
• Total income (unaudited) of $5.8 million for the quarter, an increase of 24% compared to the previous corresponding quarter.
• Positive momentum across multiple divisions, with growing demands for infrastructure/electrification services and digital transformation.
The Company recorded receipts from customers of $6.8 million for the Quarter, up 59% and 49% from the June 2022 quarter and previous corresponding quarter, respectively. The record quarterly customer receipts achieved in Orcoda’s operating history was attributable to SaaS revenues from its logistics technology platforms, as well as underlying growth of Betta Group.
Quarterly cash inflow from operations this period was $1.7 million, which included annual R&D tax incentives and income tax refunds received during the quarter. This continues Orcoda’s positive trend of quarterly positive operating cash flow over the past two years.
Commenting on the quarterly results, Geoff Jamieson, Managing Director of Orcoda said:
“We have had an impressive first quarter for FY2023, achieving record customer receipts of $6.8 million, positive cash flow from operations of $1.7 million and total income of $5.8 million, all up significantly compared to previous quarters. The strong financial results were attributable to large increase in SaaS revenues from our technology platforms, Betta Group which is continuing to perform well under the new management team, as well as R&D tax incentive receipts and income tax refunds related to the last financial year.”