• Revenue up 22.3% to $26.2m
• Loss from continuing operations down 84.8% to $2.0m
• Underlying EBITDA loss improved 62% to $2.3m

Novatti Group Limited has reported its financial results for the half-year ended 31 December 2024. The company's revenue increased by 22.3% to $26,239,000, up from $21,449,000 in the prior corresponding period. The loss from continuing operations after tax was $5,268,000, down 84.8% from $11,672,000 in the prior corresponding period. The gain from discontinued operations after tax was $3,024,000, compared to a loss of $1,800,000 in the prior corresponding period. The company's underlying EBITDA loss improved by 62% to $2,332,000, compared to a loss of $6,158,000 in the prior corresponding period. The net asset position improved by $1,511,000 to $1,752,000 as at 31 December 2024. Cash and cash equivalents excluding assets held for disposal was $6,250,000 at 31 December 2024. During the half-year, the company made substantial progress in executing its turnaround strategy, including 22% growth in revenue, 30% reduction in operating expenses, and continued growth in the core Payments AU/NZ business with a 38% increase in gross transaction value. The company also completed the sale of its IBOA Group Holdings Pty Ltd subsidiary for $2.87 million and raised $7 million through a capital raise to fund growth initiatives, address legacy liabilities, and strengthen working capital.

The company did not provide any high-importance, price-sensitive forward-looking financial metrics.