SciDev delivered revenues of A$23.9m (+74% on pcp) during Q2 FY23 along with record cash receipts of A$25.1m (+157% on pcp). Cashflow from operations of A$2.3m, is an improvement on the previous quarter and reflects a normalisation in our working capital cycle. During the period, SciDev made a payment of A$3.62m associated with the acquisition of Haldon Industries (ref ASX release 29 March 2021). The final earnout payment is due in FY24. EBITDA for the quarter of A$0.9m, was below 1QFY23 levels. The quarter-on-quarter result was significantly impacted by the movement of USD relative to the AUD, affecting both recognition of US profits and translation of the US balance sheet. SciDev maintained a robust balance sheet with cash and cash equivalents of A$9.0m at 31 December 2022, with a further A$5.0m in inventory I like this bit Gross profit margin of 25%
SDV Price at posting:
42.5¢ Sentiment: Hold Disclosure: Held
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