Q3 FY20 Highlights:
• Strong cash position of $5.2 million; surplus in net cash from operating activities in Q3 FY20
• Annual Recurring Revenue (ARR) steady at USD3.1m
• Faria investment converted to equity demonstrating strong support of the business
• Year to date (YTD) cash receipts from customers down 5.9% compared to prior year to $3.7m, reflecting continued uncertainty associated with COVID-19 on schools
• Cash receipts from customers of $1.47m in the quarter supporting positive net cash from operating activities
• Total user numbers in Q3 FY20 increased by 21% compared to Q3 FY19
• Increased engagement on ISS-Schrole Advantage platform underpinned by record number of attendees at the first iFair in October
• Redevelopment of Schrole software platform underway and on track for July 2021 release
• Appointment of Guy Perkins as non-executive director bringing a breadth of highly relevant experience in scaling Software as a Service (SaaS) businesses
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