Full Year 2024 Ava Risk Group Ltd Earnings Call Transcript
Key Points
- Record group sales of $35.3 million, up 14% from the previous year.
- Revenue within guidance at $30.2 million, reflecting a 6% increase.
- Positive EBITDA in the second half of FY24, indicating a successful foundational transformation.
- Strong gross margin maintained at approximately 60%.
- Solid cash position and successful capital raise of $4.3 million earlier in the year.
- Gross margin slightly lower than the previous year due to revenue mix.
- Impairment charge of $1.5 million on the Illuminate segment due to underperformance.
- Revenue in the Detect segment was down, impacting overall gross margin.
- Seasonality affects revenue, with Q1 traditionally being slower due to the Northern summer.
- Illuminate segment had a flat year, requiring rebuilding of key customers and technology.
Good morning, everyone, and welcome to the AVA Risk Group FY24 result webinar. (Operator Instructions) As a reminder, this call is being recorded.
I will now turn the webinar over to David Cronin, Chair of AVA Risk Group.
Good morning, everyone. Welcome to the AVA webinar. I'm very pleased to have you here. On the call today is Mal Maginnis, our Group CEO; and our CFO, Neville Joyce. From the corporate snapshot, you can see that we still have a good majority of the shareholdings within the top 20, and very pleasingly, we raised $4.3 million earlier this year at $0.13 per share, and I welcome the new institutional shareholders to the register and also thank our existing shareholders for their participation in that offer was well oversubscribed from the existing shareholders, and that was really pleasing to see.
So, without further ado, we'll get into the agenda, which is strategy and highlights the FY24 performance and the outlook.
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