FY24 Highlights:
- Total income of $25.4 million, +23% vs year ended 30 June 2023 (“FY23”), driven by:
- Strong growth within Transport Technology division, notably Future Fleet
- Sustained performance across Infrastructure Services division
- Annual Recurring Revenue (ARR) growth of 64% to $6.4 million, illustrating growing demand for Orcoda solutions across a diverse customer base
- Record EBITDA of $2.5 million, +24% vs FY23, and an EBITDA margin of 9.8%. Excluding R&D tax incentive and other income, FY24 margin expansion was +270bps
- Growing Transport Technology income contribution (>33% of Group), reflecting underlying strength of Future Fleet, supported by successful implementation of multiple large enterprise software contracts
- Divisional EBITDA margin of 21.5%, sustained following rapid income growth
- Successful execution of large Infrastructure Services contracts resulted in modest improvements in divisional income vs FY23 (+3%), notwithstanding impact of wet weather in H2
- Divisional EBITDA margin of 19.9%, up from 15.9% in FY23, reflecting improved productivity and cost management initiatives
- Net profit after tax (NPAT) of $0.9 million, +129% vs FY23, including benefit from initial recognition of past tax losses
Orcoda Limited (ASX: ODA) (“Orcoda” or “Company”) is pleased to announce its full year (audited) results for the period ended 30 June 2024 (“FY24”).
Commenting on the FY24 results, Managing Director Geoff Jamieson said:
“Another high growth year capitalising on our excellent 2023 results. At the heart of Orcoda lies an unwavering commitment to innovation, adaptability, and collaboration. In a rapidly evolving landscape, we must not only embrace change but also drive it. Success comes from empowering our teams, understanding our customers deeply, leveraging technology to create solutions that improve lives and drive growth for our shareholders. Together, we don’t just grow; we can transform how transport operates within smart cities and smart transport corridors of the future.”
