IODMs Robust Q3 FY24 Performance

In Q3 FY24, IODM Limited (ASX: IOD) reported a significant 65% increase in quarterly cash receipts to A$640k, with the UK segment soaring 196% due to a new deal with Convera, emphasizing the impact of strategic partnerships on growth. The period also marked IODM's expansion into the US market, securing its first client and establishing a promising opportunity pipeline.

This achievement underscores IODM's effective expansion strategy and the appealing nature of its cloud-based financial communication solutions. Additionally, the Australian business saw a 27% rise in cash receipts, driven by new enterprise clients in pharmaceuticals and professional services. The quarter's success was further bolstered by an A$800k fundraise to support ongoing operations, highlighting investor confidence in IODM's growth trajectory and strategic initiatives.

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