Orcoda
Orcoda

Orcoda is pleased to provide shareholders and investors with an overview of activities to accompany Appendix 4C for the quarter ending 31 December 2023 .

Financial Highlights

  • Robust growth momentum across our smart transport technology solutions and infrastructure contracting businesses, with receipts from customers of $6.5 million for the Quarter, up 45% compared to the previous corresponding quarter.
  • 10 consecutive quarters of positive 12-month rolling operating cash flows.
  • The strong first two quarters in the current financial year contributed to record half yearly results in customer receipts of $15.9 million (up 41% over pcp), operating cash flows of $1.9 million (up 345%) and total income (unaudited) of $14.5 million (up 49%) for 1H FY24.
  • Completed implementation of several large SaaS fleet management contracts that add substantially to recurring revenue going forward, and continued momentum in winning new SaaS contracts.
  • Launching new vehicle pooling and rental apps following a successful trial.
  • A robust balance sheet with cash and cash equivalents of $5.3 million and available working capital of $6.3 million as of 31 December 2023.
Quarterly Activity Report
Q2 Financial Presentation

Commenting on the Quarter, Orcoda Managing Director, Geoff Jamieson, said: “Q2 was a strong quarter as we recorded 45% growth in customer receipts and delivered our 10th consecutive quarter of positive 12-month rolling operating cash flows. I am delighted to report that we have achieved record half-yearly customer receipts, total income and operating cash flows for 1H FY24.

During the Quarter, our Transport and Healthcare Logistics division completed implementation of several large SaaS transport management contracts enabling us to earn substantial recurring monthly software revenues from these contracts going forward. Future Fleet is performing well and I am pleased that founder Michael Worthington has committed to remain at Future Fleet as a consultant for another six months to help promoting the Future Fleet and Orcoda solutions to existing and prospective customers.

In terms of business developments, our priorities are: (i) pursue and execute commercial opportunities with our new vehicle pooling and rental apps which I believe have significant market potential, ii) secure further transport management SaaS contracts to continue to grow our recurring revenue, iii) realise cross-selling and product integration synergies between Orcoda and Future Fleet.

Overall, I am excited about Orcoda’s prospects as a leader in providing smart transport technology solutions and services to clients against the broader digital transformation trend that is accelerating within our markets.”

Read the article and watch the video interview by The Market Herald with Geoff Jamieson, Managing Director of ORCODA regarding the latest quarterly ASX releases

ACTA badge

Orcoda, Australia’s number one software provider for client management and transport technology, is proud to announce its role as the official Name Partner for the upcoming Australian Community Transport Association (ACTA) National Conference. The event, taking place next week on Wednesday and Thursday, will see Orcoda sharing the spotlight with its wholly owned subsidiary, Future Fleet, one of the nation’s leading telematics and transport technology providers.

As the demand for community transport in Australia continues to grow, providers are facing the dual challenges of moving more people while operating more cost-effectively. Orcoda and Future Fleet will be showcasing a comprehensive, integrated solution designed to meet these challenges head-on by helping organisations to aggregate, optimise, and automate their entire transport operation.

Conference attendees will get a firsthand look at Orcoda’s comprehensive software package, including the brand-new Customer Booking Portal and App. This powerful new tool empowers customers, carers, and agencies to book their own transport directly via a web portal or mobile app, providing them with greater independence and a complete record of past, present, and future bookings. The platform also supports administration teams by simplifying complex government DEX reports and integrating with accounting software to eliminate double handling.

Complementing this powerful software is the cutting-edge in-vehicle technology from Future Fleet. With over 20 years of trusted service, Future Fleet provides Australia-wide GPS fleet and asset tracking powered by IoT, AI, satellite, and 5G technology. A key focus at the conference will be on enhancing safety and compliance with innovations like:

  • AI-Powered Video Telematics: AI cameras that act as a trusted co-pilot, helping to prevent collisions and providing real-time in-cab driver coaching to reduce risky behaviours like mobile phone use and distraction.
  • SeatCheck: A safety system that detects wheelchair presence and ensures correct restraint usage, sending real-time notifications and violation reports to management.

As a proudly Australian-based team, Orcoda and Future Fleet are committed to continuously improving their platforms to better serve the community transport sector.

We invite all attendees to visit our booth to see how our fully integrated software and hardware solutions can drive efficiency and safety for your organisation.

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