• Biztrak business continues strong performance with 23% revenue increase and 68% cash receipts increase
• Increased investment in professional and advisory costs for corporate activity
• Biztrak focused on e-invoicing compliance and warehouse management system enhancements

Cape Range Ltd (ASX:CAG) presented its quarterly activities report for the three months ended 31 December 2024. The company's Biztrak Business Solutions Sdn Bhd (Biztrak) subsidiary, a software development and distribution business operating in Asia, continued to perform strongly during the quarter. Biztrak generated revenue of RM730k (AUD255k), a 23% increase from the previous corresponding quarter, and cash receipts from customers were RM829k (AUD293k), a 68% increase. The improved performance was primarily due to the implementation of product improvements and software services and training related to the Malaysian e-invoicing rollout. For the full 2024 year, total cash receipts from customers were AUD935k, a 56% improvement compared to the previous year. The company incurred increased professional and advisory costs during the quarter to explore potential transactions to build scale, diversify and add value. Biztrak maintained its commitment to supporting clients with e-invoicing compliance through product upgrades, comprehensive training and implementation services, as the majority of its accounting software clients are required to comply with e-invoicing regulations by 1 July 2025. The Biztrak Warehouse Management System (WMS) team also actively engaged with prospects generated during the MALT 2024 expo, focusing on aligning Biztrak's asset management solutions with their operational needs. Overall, 2024 was a productive and successful year for the company, marked by the groundwork laid in e-invoicing training, strengthened client relationships, and increased visibility through strategic industry events.