FY20 Highlights: • Annualised Recurring Revenue (ARR) up 34% year on year (YOY) (from $31.5m at end of FY19 to $42.2m at end of FY20), exceeding the Prospectus forecast of $42.0m • Revenue increased 25.5% YOY to $39.1m, ahead of Prospectus forecast of $37.8m • Net new customers up by more than 120 in FY20 to 630 total customers at year-end, ahead of Prospectus forecast of 621 • Gross revenue and customer churn at 2.4% and 7.0% respectively, better than Prospectus forecast • Total operating expenditure of $31.7m, better than Prospectus forecast of $32.9m • EBITDA of $(7.3m), significantly better than Prospectus forecast of $(9.4m) • Strong balance sheet with net cash balance of $15.2m
Not a bad first years results, growing strongly despite covid just shows the resilience of this company's business model.
WSP Price at posting:
$4.78 Sentiment: None Disclosure: Held
