Financial Highlights
Q2 2016 was a solid quarter for the Company, with revenue up 89% on Q1 2016 as a result of both new clients and increased product usage by existing clients. Importantly, ARPU rose 67% QoQ, providing encouraging signs of adoption.
Q2 2016 cash receipts were lower, at A$70,000, due to an increase in trade receivables. The Company has subsequently stepped up measures to collect these outstanding amounts.
On a positive note, cash flow from operating expenses was slightly less than USD$1m, determined on a cash basis.
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