ReadCloud Limited (ASX: ReadCloud) recorded a 25% surge in consolidated revenue and other income for FY23, reaching AU$10.70 million compared to AU$8.55 million in the previous corresponding period (pcp). This growth was propelled by both organic expansion and the inclusion of Southern Solutions Training Services, acquired during the period. Noteworthy financial achievements include an underlying EBITDA of (AU$785,675) for FY23, an improvement from the prior year (pcp AU$822,834), and a substantial enhancement in net operating cash outflow to AU$386,047, compared to the AU$1,048,806 outflow in FY22.
The successful capital raising generated AU$1.35 million, supported by major institutional shareholders, Directors, and executives, resulting in a cash position of AU$1.71 million as of September 30, 2023. Operationally, ReadCloud onboarded 61 new school customers in 2023 and expanded its eBook Solutions into the Queensland Department of Education's preferred supplier panel. Additionally, the Company's engagement with international schools is increasing, and a new executive management structure has been established, fostering accelerated team integration and business growth.
Customer Notice:
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.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com
Nov 21, 2024
Nov 21, 2024
Nov 21, 2024
Nov 21, 2024
Nov 21, 2024
Nov 21, 2024
Nov 21, 2024
Nov 21, 2024
Nov 20, 2024
Nov 20, 2024
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.
