Ansarada Group (ASX:AND) tables profit in maiden FY21 results

Technology

ASX:AND MCAP $155.6M 31 August 2021 14:40 (AEST)

CEO, Sam RileySource: Ansarada Group

• Ansarada Group (AND) posted a $642,000 profit in its first annual report since completing the reverse acquisition of thedocyard
• AND took over the fellow software business late last year and between January and June it has generated $18 million in operating revenue
• It ended the year with $33.2 million in revenue, as well as 3453 customers and 2566 subscribers for its software
• The company also had $22.6 million in the bank with plans to increase product use and partnerships across FY22
• Shares in Ansarada Group ended Tuesday down 4.56 per cent at $1.68 each

Ansarada Group (AND) has posted a $642,000 profit in its first FY21 annual report since completing the merger with thedocyard.

AND took over the business late last year via a reverse acquisition and between January and June has generated $18 million in operating revenue.

It ended June 30 with $33.2 million in total operational revenue as well as earnings before interest, tax, depreciation and amortisation of $3 million.

The company had 3453 customers, 2566 subscribers and more than 460,000 unique users of its software at end of FY21.

It entered FY22 with a boosted cash balance of $22.6 million and cashflow positive, with Chairman Peter James labelling the past year as transformative.

"We are a different company now to the one we were a year ago. One of the most significant milestones we achieved this year was the combination with thedocyard and successful capital raising to fund the transaction," Mr James said.

The Chairman added that the company was planning to increase its product use and partnerships across FY22.

"We have many reasons to have a confident and positive outlook in FY22. Our business is robust and well positioned to increase market share in very large and growing markets," Mr James said.

"The rising trends of digital transformation, compliance and governance support our growth. With continuing new product enhancements and innovation, we can provide even more value to clients domestically and offshore."

Shares in Ansarada Group ended Tuesday down 4.56 per cent at $1.68 each.

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