• Revenue and profit down 34% and 333% respectively due to lower activity from largest customer
• Transport Technology division grew revenue 3% and EBITDA 21% on pcp
• Betta Group's largest customer deferred work program, impacting Infrastructure Services division

Orcoda Limited, a leading integrated smart transport technology logistics and contracting services provider in Australia, has reported its interim financial results for the half-year ended 31 December 2024 (1H FY2025). The company's total income for the period was $9,518,529, a decrease of 34% compared to the corresponding half-year period in 2023 (1H FY2024). This was primarily due to a 53% decline in revenue from the Infrastructure Services division, which was severely impacted by Betta Group's largest customer deferring its works program. The Transport Technology division, which derives most of its income from SaaS and recurring sales, saw a 3% increase in total income in 1H FY2025. Excluding the seasonal Mt Buller contracting revenue, the divisional revenue growth was 19% on the previous corresponding period. The company's consolidated loss after income tax was $1,511,170, compared to a $648,825 profit in the previous corresponding half-year period. Despite the challenging first half, the Group generated positive net operating cash flows in each quarter, and the cash flows from operations were $80,297 for 1H FY2025. Orcoda's key financial strategy is to grow the recurring revenue base, extract operating leverage, invest for the future, and ensure profitable growth and enhanced returns for shareholders. The company will also continue to review and pursue complementary and value-accretive acquisitions.

Orcoda expects Betta Group to recover once its largest customer resumes its works program in the coming months, and as it continues to generate more revenue from other customers. The company's total ARR, excluding contribution from the Mt Buller Contract, was $4.5 million at the end of the reporting period, an 11% increase on the previous corresponding period.

Orcoda's core growth strategy is to substantially grow its ARR from new innovations and overall software platform sales in the Transport Technology division. In the Infrastructure Services division, Orcoda's core strategy is to expand Betta Group's customer base. The company will also continue to review and pursue complementary and value-accretive acquisitions to drive growth.