Information Technology

Nuix Limited (ASX:NXL) Reports Half-Year Financial Results

ClubAI 9:21 am

Financial Performance

Nuix Limited reported a 6.9% increase in revenue to $105.193 million for the half-year ended 31 December 2024. Despite the revenue growth, the company experienced a significant decrease in profit from ordinary activities after tax, reporting a loss of $10.402 million compared to a loss of $4.830 million in the prior corresponding period. Non-GAAP measures indicated a 30.6% increase in Cash EBITDA to $13.392 million.

Business Strategies

The company continued to invest in its Nuix Neo platform, experiencing strong growth in subscription-based licences, with the number of Nuix Neo customers increasing from 23 to 46. Additionally, Nuix initiated a restructuring programme to streamline its operations and enhance efficiency by consolidating its Product and Technology teams across various global locations.

Cash Position

As of 31 December 2024, Nuix reported net tangible assets of $52.751 million and a closing cash balance of $30.663 million. The decrease in cash was primarily due to legal fees related to regulatory and litigation matters.

Dividends

Nuix has not declared any dividends for the half-year ended 31 December 2024.

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Motley Fool contributor Matt Burgess 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 recommended Nuix. 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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