- Continued growth in customer receipts of $5.5 million for the Quarter, +2% vs previous corresponding period (“pcp”) cycling a very strong Q3 FY23. Q3 FY24 results were impacted by severe wet weather conditions in Queensland which affected progress of multiple projects
- Another consecutive quarter of positive operating cash flows with $0.3 million for the Quarter
- Strong year to date (YTD) FY24 results, on track to exceed FY23 full year results:
- YTD customer receipts $21.3 million, +28% over pcp
- YTD operating cash flow $2.2 million, +61% over pcp
- YTD total income (unaudited) $19.7 million, +27% over pcp
- Positive momentum in Transport Technology, with successful implementation and new SaaS contract wins. Going forward, key focus is on sales & marketing to secure further contracts and growing recurring revenue
- Cash and cash equivalents of $4.8 million and available working capital of $5.8 million (cash plus undrawn bank facilities) as of 31 March 2024
Orcoda is pleased to provide shareholders and investors with an overview of activities to accompany Appendix 4C for the quarter ended 31 March 2024.
Commenting on the Quarter, Orcoda Managing Director, Geoff Jamieson, said:
“Notwithstanding a challenging Quarter for Betta Group – as many of its projects were affected by prolonged heavy rainfall – I am particularly pleased to report that we have delivered continued growth in customer receipts while also achieving sustained positive operating cash flows. This is a testament of our resilience and strong positive contribution from the Transport Technology division.
Current momentum within our Transport Technology division is encouraging, with the successful implementation and activation of new SaaS contracts including our first contracts in ORCODA Connect and ORCODA GO, and awarded several new SaaS contracts with community transport providers. On the back of our progresses and considerable investment made in new product development in FY24 year to date, we are now focused on sales & marketing efforts to accelerate penetration of our addressable markets and growing our recurring revenue base.
Overall, I am excited about Orcoda’s prospects as a leader in providing smart transport technology solutions and services to customers in parallel with the broader digital transformation accelerating across our key markets.”
Financial Highlights Presentation
The Company is also pleased to provide shareholders with a copy of its Q3 Financial Highlights Presentation.
Please click the image HERE to view the full presentation.
