- ORCODA (ODA) reports strong growth in customer receipts and operating cash flows for Q4 FY23
- The company posted record full year customer receipts of $22.4 million and operating cash flows of $2.1 million for FY23
- In July, ODA acquired Future Fleet, substantially adding to the company’s recurring revenue stream
- The company held $5.8 million in available funding at the end of the financial year
ORCODA has reported continued strong growth in customer receipts and operating cash flows for the three-month period to June 30, 2023.
The company revealed 31% year-on-year (yoy) growth in customer receipts totalling $22.4 million and operating cash flows of $2.1 million, up 97% to the previous year.
ORCODA also highlighted total unaudited income of $20.7 million, which is up 25% yoy.
The company announced it had $5.8 million in available funding at the end of the financial year 22/23.
“I am particularly pleased by our recent commercial successes with the signing of several large contracts in both our software and contracting businesses, providing a strong pipeline for FY24,” ODA Managing Director Geoff Jamieson said.
“Additionally, we acquired Future Fleet which will add substantially to our recurring revenue stream and we will be working closely with Future Fleet to integrate our products and realise cross-selling synergies.
“With the continued acceleration of digital transformation and rapid developments in connected cars and AI, I am excited about the future growth opportunities for ORCODA as a leading provider and innovator of Smart Cities transport technology and contracting solutions.”