Way2VAT Reports Record Revenue Growth and Expands Enterprise Client Base.

Way2VAT Ltd (ASX: W2V) achieved record quarterly revenue of AU$1.49 million in Q4 FY24, marking a 49% increase from Q4 FY23. Full-year FY24 revenue surged 43% to AU$4.721 million, driven by new enterprise clients and expanded services for existing customers. Cash receipts rose 62% to AU$758 thousand, while accounts receivable increased to AU$4.5 million. 

The company secured major contracts, including a multinational real estate services firm and Bulk Tainer Group, expanding its enterprise client base to 395 clients. Way2VAT also received AU$1.3 million in funding via convertible notes in January 2025, with an additional AU$1.3 million raised as of January 30. Operational cost reductions of 20% were implemented in December 2024, with full effects expected in Q1 2025. The company continues scaling its VAT reclaim and APAI Compliance solutions across Europe, solidifying its market leadership.

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