2024 Q4 Quarterly Activities Report & Appendix 4C
| Stock | Imexhs Ltd (IME.ASX) |
|---|---|
| Release Time | 31 Jan 2025, 9:43 a.m. |
| Price Sensitive | Yes |
IMEXHS Ltd reports Q4 FY24 results and Appendix 4C
- Q4 FY24 revenue of $6.1m, up 7% vs pcp; up 15% on a constant currency basis
- FY24 revenue of $26.5m, up 34% vs pcp; up 27% on a constant currency basis
- Secured new software contracts in Colombia and Peru, contributing $370,000 in New Annual Recurring Revenue
IMEXHS Ltd (ASX: IME) has reported its quarterly cash flow and activities summary for the period ended 31 December 2024. The company achieved 34% revenue growth in FY24, with quarterly revenue increasing 7% compared to the prior corresponding period (pcp) and 15% on a constant currency basis. For the full year, revenue reached $26.5m, up 34% on pcp. Annual Recurring Revenue (ARR) grew 20% to $30.0m. Contract renewals, including the Colombian National Police, were secured under improved pricing, and new agreements, such as those with Hospital General de Medellin and DPI in Peru, added $370,000 in New Annual Recurring Revenue (NARR). Pricing in the software business improved, with 59% of software ARR now in hard currencies. Cost control measures are progressing, with an improvement in EBITDA despite some foreign exchange impacts and a bad debt expense. The company expanded its regional presence, with 525 sites now using its software across 18 countries. Product updates focused on efficiency and compliance, with enhancements to the RIS system, Universal Viewer, and PACS, as well as alignment with ISO 27001:2022 standards.
The company had provided updated guidance for FY24, expecting to achieve around the top end of revenue guidance of between $24.0m - $27.0m (22% - 37% up vs pcp) and Underlying EBITDA in the range $0.75m - $0.9m. The company has achieved the Revenue guidance with FY24 Revenue of $26.5m, but has fallen slightly short of the bottom end of the Underlying EBITDA guidance with the finalization of a $0.3m bad debt expense, resulting in FY24 Underlying EBITDA of $0.6m.
The company continues to focus on cost control measures, product development, and expanding its regional presence. The new software contracts secured in Colombia and Peru are expected to contribute to future revenue growth.