Total operating costs for FY23 were $9.0 million including a full year of operating costs for the
acquired DevoluIVA business, compared to $8.4 million for FY22 which included only one quarter of
DevoluIVA operating costs of $1.0m. On an unaudited full-year pro forma basis, the operating costs
of DevoluIVA were reduced significantly by 31% from $2.9 million in FY22 to $2.0 million in FY23
through the successful integration with Way2VAT. The operating costs of W2V standalone were also
reduced by 5% from $7.4 million in FY22 to $7.0 million in FY23 through cost control measures.
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