Key points
- Annual Contract Value (ACV) up 16% to $16.9m
- Annual Recurring Revenue (ARR) up 15% to $14.0m
- Recurring Revenue now over 90% of Total Revenue
Full summary
EP&T Global Limited (ASX: EPX) has announced its Half Year results for the six-month period ended 31 December 2024. Key highlights include:- Annual Contract Value (ACV) of $16.9m, up 16% on the prior corresponding period (PCP)- Annual Recurring Revenue (ARR) of $14.0m, up 15% on PCP- Six-month statutory Total Revenue up 16% to $7.5m- Six-month statutory Recurring Revenue up 25% to $7.4m- Recurring Revenue continues to represent over 90% of Total Revenue- Six-month underlying EBITDA loss reduced by 96% resulting in the business approaching EBITDA breakeven- Cash flow from operations was $0.9m, a 39% improvement over the PCPThe company has also completed the acquisition of Coda Cloud, adding a new business vertical. The Coda acquisition is expected to deliver further growth, with the company securing customer agreements with a projected ACV of over $0.5m.EP&T's CFO, Patrick Harsas, stated that the results continue to support the company's strategy of driving operational efficiencies while investing in growth, resulting in double-digit recurring revenue growth and improvements in underlying EBITDA and operating cash flow.
Guidance
EP&T Global has not provided any high-importance, price-sensitive forward-looking financial metrics in the announcement.
Outlook
The company has not provided a specific outlook statement, but the announcement indicates that EP&T Global is focused on continuing to improve EBITDA and operating cash flow while driving revenue growth opportunities.