month in Q3 FY24 representing an increase vs the pcp in Q3 FY23 (excluding Google)o Revenue for Q3 FY24 was $54.1 million, down 13% on previous corresponding period (pcp) (which included $21.9 million of revenue from Google).o Excluding Google, revenue for Q3 FY24 grew 35% on pcp (from $40.2 million in Q3 FY23).o TractioninmultiplegenerativeAIprojectscontributedtorevenuegrowth for China and one of our Global customers.• EBITDA improving with cash EBITDA positivity target met in August FY24o Underlying EBITDA1 (before FX) for Q3 FY24 was a profit of $1.0 million,a $8.5 million improvement on pcp loss of $7.5 million.o Underlying cash EBITDA2 (before FX) for Q3 FY24 was a profit of $0.04 million, a $8.6 million improvement on pcp loss of $8.6 million.o With cost out programs now complete, the focus continues to be on profitable growth.• Cash balance remains healthyo Cash on hand as at 30 September 2024 was $30.3 million. Following successful completion of the A$50.0 million institutional placement in October, pro-forma cash balance is $62.4 million
APX Price at posting:
$1.97 Sentiment: Buy Disclosure: Held
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