Beonic has debt that falls due in January 2026, refinancing that debt is inevitable given there will not be sufficient cash available to pay it all down. With that in mind it was of critical importance that we improve the financial performance of the business through costs management and by driving structure change and efficiencies across the company.
We also said goodbye to some unprofitable revenue, as well as saying no to yet more diversification, again it was important that we tighten up our operations, our cost base and also our go to market - reaching profitability was a promise we made to the market at the end of January and we meant it.
Billy Tucker, Beonic CEO
BEO Price at posting:
18.0¢ Sentiment: None Disclosure: Held
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