A strong FY2021 full year results announced this morning. Total...

A strong FY2021 full year results announced this morning. Total revenue increased 104% compared to last year, gross profit up 179% and the number of sites has grown from 329 to 373 (13.4% increase). All very positive numbers when dealing with the challenging times we find ourselves in.

Highlights:

• Total revenue of $48.6m for FY21 of which 83% was recurring, more than doubling the revenue reported in the prior year
• Gross margin continued to improve with gross margin of 42.4% compared with 31.0% in prior year
• Operating expenses represented 66% of revenue compared with 107% in prior year
• Adjusted EBITDA loss of $4.5m with the Group generating a positive Adjusted EBITDA in the 4th quarter
• Total number of sites increased from 329 in FY20 to 373 in FY21, representing an increase of 13.4%
• Strong growth for EVS Omnis achieving 24% growth in ARR, while EVS Aviation remained resilient with a 2% growth in a challenging environment

I'd like to highlight this quote from CEO Jason Cooper:

"Globally, the growing importance of ESG, the advancement of the UN’s Sustainable Development Goals, and the recent US$1 trillion Biden infrastructure bill, all create strong tailwinds for Envirosuite in FY22 and beyond. The value and importance of environmental intelligence for the world is accelerating and the time for Envirosuite is now."