- Positive operating cash flow of $434k in 1H FY23
- Record half yearly $11.3 million customer receipts and $9.7 million total income for 1H FY23
- Well capitalised to capture future growth opportunities.
- Several prospective new contracts awarded.
- New product development announcement
After a bumper quarter last period, ORCODA announces it has continued growth and positive momentum in quarterly receipts from customers and total income. Reporting a record half yearly $11.3 million customer receipts and $9.7 million total income for 1H FY23, increasing by 27% and 18% respectively when compared to 1H FY22.
New Contracts on the Horizon
A positive benchmark for ORCODA is its operating cash flow of $434k in 1H FY23. Significant investments and restructurings position ORCODA for future growth opportunities, and several prospective new contracts have been awarded, subject to contract signing.
- The Betta Group: Large infrastructure services contract for execution during 2H FY23
- SaaS contract with a mining company to use the ORCODA Workforce Logistics System (OWLS) to manage their workforce accommodation.
- In partnership with Teletrac Navman and Telstra, SaaS contracts with several fleet operators to use the ORCODA Logistics Management System (OLMS) to manage their fleet operations.
New Product Development
Our Research and Development Team can announce the development of a new car management software product which leverages our existing booking platform technology and our automotive industry expertise. This is on the back of strong interest received from prospective clients and market opportunities that could be significant when they are successfully commercialised.
Financial capital for growth
ORCODA has reported a $2million cash and cash equivalent at quarter end and $3million available working capital, which positions the company well to capture future growth opportunities.
About ORCODA Limited
ORCODA Limited (ASX:ODA) is a leading provider of smart technology solutions for transport logistics and transport services with expertise in business efficiency and optimisation of processes. We are operational efficiency specialists who supply best-in-class solutions combining technology, management expertise and contracting services that makes our clients among the most productive and cost-effective organisations in their respective industries.
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