Prophecy International Holdings (ASX:PRO) Reports Record H1 FY25 Revenue
Financial Performance
Prophecy International Holdings Ltd (ASX:PRO) reported a 1% increase in revenue to $11.6 million for H1 FY25, marking a record half-year. The company’s contracted annualised recurring revenue (ARR) reached $25.9 million as of 31 December 2024, with emite contributing $15.4 million and Snare subscriptions $10.5 million. Prophecy expects to achieve positive cash flow in FY25 and closed the period with a cash balance of $9.1 million and zero debt.
Operational Achievements
The company’s growth was driven by its AI-enabled products, Snare and emite, attracting diverse new customers globally, particularly in the Middle East. Emite’s performance was bolstered by key partnerships with Genesys and Amazon Connect, and significant contract wins including a $10.7 million agreement with Optus Networks Pty Ltd. Snare expanded its footprint with new contracts from enterprises like UPS and Nielsen, and achieved SOC2 compliance, enhancing its data security standards. Prophecy also established strategic partnerships with Devo and Securonix, and joined the AWS Independent Software Vendor Accelerate Program to drive further growth.
Future Outlook
Prophecy remains optimistic about continued growth in Snare and emite, focusing on expanding sales and marketing in global markets, enhancing subscription-based models, and developing new revenue streams. Key priorities include increasing emite sales to large enterprises, leveraging new partnerships in the API integration market, and delivering product innovations. The company plans to release its audited H1 FY25 results on 26th February 2025.
Executive Comments
CEO Brad Thomas stated, “AI models, particularly in cybersecurity, operational intelligence and business analytics, require vast amounts of high-quality data for accurate predictions and decision-making. Snare and emite provide the secure, structured and real-time data streams that AI systems need to function optimally. With Snare’s ability to collect and standardise security data from diverse sources, and emite’s data integration capabilities, Prophecy’s customers can rely on a robust foundation of accurate historical and real-time data on which to apply AI-driven security and operational intelligence.”
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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