In Q3 FY24, Beonic (ASX: BEO) secured over AU$6.5 million in contracts, including renewals, notably with Orlando International Airport for a LiDAR-based queue management system. This airport ranks as the eighth busiest in the U.S., handling over 25 million passengers annually. Beonic reported a slight increase in Recurring Revenues to AU$4.2 million, which marks a 5% year-over-year growth. Total Operating Revenues reached AU$5.9 million, and cash receipts were slightly higher at AU$6.0 million. However, the company experienced a net cash outflow from operations of AU$0.5 million, largely due to restructuring costs.
A Transformation Plan is in place, aiming to drive profitability by focusing on high-margin sectors like airports and retail properties, scaling products, enhancing distribution partnerships, and continuing cost reduction initiatives. The plan anticipates over AU$2 million in annual operating cost savings by Q1 FY25. Beonic emphasizes the importance of aligning its recurring revenue streams to exceed operational costs for sustainable growth.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
