Qtly Activity Report - December 2023

Here is my take on the December quarterly.

• Revenue growth (Qtrly pcp) 40% plus. What's that now, 8 quarters in a row?? There is no stronger underlying business metric that proves management is executing on their business strategy.
• Cash receipts up 24% pcp. Unlike many other micro-cap companies, Wrkr has no problems collecting cash. A testament to the business model of recurring revenue streams and contracted platform builds for clients that pay up-front for their development.
• Cash at bank was depleted from investing in the platform build principally for Link but this would have been offset had a client's payment of $770k been received by 31 December (end date for Qtrly reporting period). Wrkr have the funds (received in January). What I appreciate is management's clarity of exactly where and how they are spending their cash flow. It is also confirmation they are working flat-out on the Link build which in time will produce on-going annual recurring income streams.
• Confirmation that part of the revenue increase was PaaS development fees etc for ART. My guess estimate is an annual recurring revenue stream of $1.1M+ comes from the ART relationship and I expect this will grow with the advent of QSuper integration which I suspect will occur sometime this calendar year.
• Cost to income ratio increased marginally but management speak specifically to the reasons for this. Management actively control their business costs.
• It intrigues me that there is a sustained effort now to integrate Tansmit Security services/products into the Wrkr platform. Watch this space people, I think Transmit security (The key to Wrkr's Cyberposture) will become a bigger influence on Wrkr's products and services moving forward.
• Great to hear core engineering staff are engaged in deploying new clients onto the Wrkr platform.....that's future revenue confirmation.
• Clear timeline expectations as to the development and implementation of services for REST & HSBC (Hong Kong).
• Confirmation that the joint marketing of Wrkr's services is underway within the Link Group customer base.
• Also, Super Funds (that are not part of the Link' admin client cohort) are making enquiries directly to Wrkr. That will make the market stand-up if/when Wrkr brings a Super Fund onto the platform outside of the Link Group relationship.
• Clearly KPMG's Workday potential clients have motivated Wrkr to concentrate on platform integrations to cater for these potential client wins. With all that is going on with Link, to redirect resources implementing these initiatives is a strong indicator for me that we can expect new clients in the fist half of this calendar year via this channel partner (KPMG).
• SMSF Hub just keeps kicking financial goals.
• Increase revenue from interest received from float monies. Timing could not be better to reinvest this cash flow back into the business at this crucial time of the platform's development.

For their constrained financial and human capital resources, Wrkr is kicking huge goals.
The great thing is Wrkr's efforts are directed at verifiable business outcomes with guaranteed revenue returns. They are not building in hope of bringing business, they already have it contracted. It is just a matter of timing before the potential revenue streams becomes a reality.

Like @jocko, I am a very happy shareholder.