Q4FY18 Results & Operating Update

Q4FY18 Results & Operating Update

We are pleased to announce our 4C results and operating update for the quarter ending 30 June 2018.

Summary highlights:

  • Another record quarter with $3.4 million of revenue reported in Q4 – up 25% on pcp (Q4FY17: $2.7 million)
  • Strong 20% uplift in customer cash receipts in Q4FY18 to $3.3 million vs $2.8 million Q4FY17
  • Total FY18 revenue of $12.5 million, 20% growth from FY17 (FY17: $10.4 million)
  • Focus on corporate and SME revenue delivering results with growth from these segments of 36% in Q4FY18 vs Q4FY17; 24% growth overall in FY18
  • NZ operations exceeded revenue targets on back of strong organic growth and NZ Children’s Worker Safety Check requirements
  • Cash burn $0.7 million in Q4FY18 bringing H2FY18 to an improved $1.1M vs $1.4million H2FY17

For full results published to ASX check out the “CV1 Appendix 4C and Operating Update” and “Appendix 4C” announcements which can be found on our investor page here.

Our Chief Executive Officer Rod Sherwood, said:

“The final quarter for FY18 reflects the continuing success of the strategic shift we implemented for the business, to increasingly build our corporate and SME customer revenues. The acceleration of corporate and SME customer acquisition in recent months is very encouraging; evidence our strategies in these segments are working. Over time we believe this will deliver more sustainable, long-term order growth of a higher quality, which will benefit our shareholders.”

“We continue to invest in our technology to ensure we remain at the forefront of this growing market opportunity. The Australian and New Zealand markets are becoming increasingly aware of the risks involved of not performing appropriate checks, and this offers us significant growth potential, particularly when we look at the trends experienced in more advanced checking markets like the US.”

Visit our investor page to find out more.

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