Quarterly Activities/Appendix 4C Cash Flow Report
| Stock | Fineos Corporation Holdings Plc (FCL.ASX) |
|---|---|
| Release Time | 29 Jan 2025, 4:44 p.m. |
| Price Sensitive | Yes |
FINEOS Reports Quarterly Activity and Cash Flow
- Closing cash balance of €19.8m, down from €29.1m due to seasonal impact
- New client contracted for FINEOS Absence (IDAM) with go-live planned in 2025
- FINEOS AdminSuite launched at Guardian and New York Life - Group Benefit Solutions
FINEOS Corporation Holdings PLC (ASX:FCL), a leading provider of core systems for life, accident and health insurance carriers globally, presented its unaudited quarterly activity report and Appendix 4C cash flow statement for the three-month period ending 31 December 2024 (Q4 2024). The company's closing cash balance at 31 December 2024 was €19.8 million, down from €29.1 million at 30 September 2024, reflecting the seasonal impact of less subscription fee collections in Q4 2024 and an additional prepayment for FY25 cloud costs. Customer cash receipts (net of tax) were €24.5 million, in line with the prior corresponding period but down 31% on the previous quarter due to the previous quarter benefiting from the seasonally higher collection of subscription revenues. The company contracted a new client for its FINEOS Absence (IDAM) Platform in Q4 2024, with go-live planned in 2025. Additionally, FINEOS AdminSuite went live in production at Guardian since Q4 2024, and the launch of voluntary benefits on FINEOS AdminSuite at New York Life - Group Benefit Solutions was successful as planned for January 2025. The company's North American new business pipeline remains healthy, with four new preferred vendor positions for FINEOS Absence and FINEOS Claims, and the pipeline for the Employer market also continues to grow. FINEOS is committed to driving continuous process, platform and people operational efficiencies, as well as growing its revenues, and expects to generate free cash flow in total for FY25 and be self-funded thereafter.
The company expects to generate free cash flow in total for FY25 and be self-funded thereafter.
FINEOS is committed to driving continuous process, platform and people operational efficiencies, as well as growing its revenues. The company's growth prospects remain strong, with a healthy pipeline and four new preferred vendor positions for FINEOS Absence and FINEOS Claims in the North American market.