Strong Growth Across Key Financial Metrics; Approaching Cash Breakeven
Highlights
• Revenue of $4.0m in Q4 FY2023, up 18% from Q3 FY2023 and up 38% from Q4 FY2022 • FY2023 revenue was up 28% on FY2022 • Annual Recurring Revenue (ARR)2 of $7.5m in Q4 FY2023, 7% higher than Q3 FY2023 and 25% higher than in Q4 FY2022 • Net Operating Cash Inflow for the quarter was $1.0m; Net Operating Cash Outflow for FY2023 was $0.6m compared to $0.8m in FY2022
• Material contracts update
o Eramet SA (Resource Disclosure solution); 3-years - TCV $564k / ARR $152k
o Post quarter end: Roy Hill (Ground Disturbance solution); 5-years – TCV $2.0m / ARR $300k
• Cash balance on 30 June 2023 was $4.4m
o A working capital facility of $2.0m with 24-month term was established with Maptek Pty Ltd, providing K2fly with additional flexibility to manage its working capital requirements
o The facility is undrawn
K2F Price at posting:
10.5¢ Sentiment: Buy Disclosure: Held
