Envirosuite Limited (ASX:EVS) Reports Half-Year Financial Results
Financial Performance
Envirosuite Limited reported a net loss of $6.5 million for the half year ended 31 December 2024, compared to a loss of $5.8 million in the previous year. Total revenue remained steady at $29.5 million, reflecting a marginal decrease of 0.2%.
Operational Highlights
The company’s Annual Recurring Revenue (ARR) increased by 7.5% to $65.7 million, driven by new ARR sales and expansions with existing customers. Envirosuite achieved a positive EBITDA of $0.2 million for the first half, marking a turnaround from a previous loss and demonstrating improved gross margins and disciplined cost management.
Strategic Partnerships
Envirosuite entered a collaboration agreement with Hitachi Construction Machinery Co., Ltd, resulting in a $10 million investment. This partnership aims to pursue ESG and Net Zero opportunities within the mining sector, leveraging combined expertise in technology and market capabilities.
Future Outlook
The company anticipates continued growth in recurring revenues and expects an increase in non-recurring revenue in the second half of the year from specialized projects, including participation in NASA’s X-59 QueSST mission. Strategic investments and ongoing projects are expected to drive future performance and shareholder value.
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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