IODM - UK Education Material Revenue Uplift
Key points
- UK Education revenue for October 2024 increased 306% YoY
- Original 5 universities contributed ~AUD271k of October 2024 revenue
- Cash receipts for December quarter expected to increase ~38% YoY
- Unaudited revenue for 1H25 expected to increase ~38% YoY
Full summary
IODM Limited (ASX: IOD), a cloud-based software platform delivering a complete working capital communications solution, has provided an update on its United Kingdom Education ('UK Education') segment revenue. UK Education has achieved revenue for the month of October 2024 of ~AUD289k, a 306% increase on the same month last year. The five original universities that contributed revenue for the Company in October 2023 generated ~AUD271k of the October 2024 revenue, demonstrating the positive impact of the UK Education revised revenue sharing agreement announced on 5 February 2024, as well as the increased organic revenue growth potential from each university as a direct consequence of commissioning the IODM connect platform. The four additional universities on-boarded during the 1H25 contributed limited revenue of ~AUD18k for October 2024, but all nine universities will fully contribute to the Company's ongoing monthly UK Education revenue from November 2024. The Company now anticipates cash receipts for the December quarter to be AUD670k, a c.38% increase on the Previous Corresponding Period (PCP), while UK Education is presently programmed to report ~AUD490k, 110% up on PCP. In addition, the Company anticipates unaudited revenue for 1H25 to be AUD1.16m, a c.38% increase on PCP, whilst UK education is presently programmed to report ~AUD780k, a 77% up on PCP.
Guidance
The Company now anticipates cash receipts for the December quarter to be AUD670k, a c.38% increase on the Previous Corresponding Period (PCP), while UK Education is presently programmed to report ~AUD490k, 110% up on PCP. In addition, the Company anticipates unaudited revenue for 1H25 to be AUD1.16m, a c.38% increase on PCP, whilst UK education is presently programmed to report ~AUD780k, a 77% up on PCP.
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