Highlights ● Receipts from Customers: Achieved strong receipts from customers totaling $3.86 million (Q4 FY23: $2.45 million), representing a 58% increase vs PCP and demonstrating robust revenue generation and customer engagement. ● Net Positive Cash from Operating Activities: Achieved positive net cash flow from operating activities of $0.85 million (Q4 FY23: neg -$1.52 million), representing a $2.37 million improvement vs PCP, highlighting a significant turnaround in operational efficiency. ● Positive Free Cashflow for Q4 FY24: Achieved positive free cashflow of $0.37 million (Q4 FY23: neg -$2.24 million), representing a $2.61 million improvement vs PCP. ● Strong Reduction in Operating Payments by 29%: Payments before product manufacturing costs were reduced significantly to $2.69 million (Q4 FY23: $3.78 million), reflecting a 29% decrease vs PCP due to the impact of cost-saving measures and improved financial management. ● Significant Paid Subscriber Growth by 110%: Paid subscribers for Spacetalk Mobile (MVNO) grew by 110% vs PCP to over 30.9k (Q4 FY23: 14.7k). ● Annual Recurring Revenue (ARR) up: Increased by 17% vs PCP to $9.7 million (Q4 FY23: $8.3 million). ● Quality of Revenue Improved: Recurring revenues for the quarter were $2.5 million representing 68% of total revenues (Q4 FY23: $2.2 million), up 16% vs PCP. ● Cash Position: The company held $1.79 million in cash as of 30 June 2024 (Q3 FY24: $1.42 million) up 26% from March 2024.
