• Licence, support and project fee revenues of $4.8m, a 1% decrease
• Total revenue of $5.4m, a 2% increase
• Expenses 10% higher due to investment in new product development

Knosys Limited reported its financial results for the half-year ended 31 December 2024. Licence, support and project fee revenues were $4.8m, a 1% decrease from the prior corresponding period, due to lower project and implementation fees, while licence and support fees were in line with the prior period. Total revenue, including R&D incentive income, was $5.4m, a 2% increase. Expenses increased by 10% compared to the prior period, primarily due to increased investment in development personnel resources for the strategic library-tech new product development. This resulted in a reduced, but positive EBITDA of $0.1m, compared to $0.6m in the prior period. The net loss attributable to members was $0.3m, a $0.4m decrease on the $0.1m profit in the prior corresponding period. The reported loss includes non-cash charges of $0.4m for amortisation of intangible assets. Annual Recurring Revenue (ARR) reached a record level of $9.7m as at January 2025, a $0.3m increase on the prior corresponding period. The company generated an operating cash outflow of $0.7m for the 6 months, reflecting the increased investment in development resources and the timing of customer receipts and the annual R&D rebate. Knosys ended the period with a solid cash position of $3.5m.

Knosys is investing in the next generation of market leading library-tech solutions. This transition is being managed in a responsible manner by maintaining revenue stability from major enterprise clients and through disciplined management of increased operational costs within funding capabilities. The product development program is on track, with the upcoming release of significant enhancements to the existing product suite and the launch of a new mobile Library App in March 2025, with new commercial revenue streams and new customer acquisition expected from FY26 onwards.