Ansarada Group Limited: Quarterly Updates

Ansarada Group Limited (ASX: AND), the global information governance software provider, achieved remarkable customer growth through the implementation of its freemium strategy, despite subdued M&A deal volumes. The company reported a 122% increase in its customer base, with a total of 12,499 customers, a YoY growth of 122%. Notably, the freemium customer segment saw a substantial rise of 302%, totalling 9,680 customers, offering the opportunity for conversion into paid subscriptions. The subscriber numbers remained stable YoY, while the ecommerce customer acquisition channel exhibited remarkable growth with 1,235 active customers, a 119% YoY increase.

Ansarada achieved an Annual Recurring Revenue (ARR) of AU$11.6 million, aligning with its long-term target of AU$100 million. Total revenue for the first quarter reached AU$13.3 million, with a 3% YoY increase. Q1 saw a positive cash flow of AU$21.6 million. The outlook for 1H FY24 remains positive, driven by contracted deferred revenue of AU$18.6 million, supporting continued cash flow positivity and growth. Ansarada's disciplined strategy execution aims to tap into the AU$52 billion addressable market, fostering sustainable growth and recurring revenues.

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