Full Year 2024 Alcidion Group Ltd Earnings Call Transcript
Key Points
- Alcidion Group Ltd (ASX:ALC) reported a 6% increase in annual recurring revenue, highlighting the company's ability to maintain a steady revenue stream.
- The company successfully reduced its EBITDA loss in the second half of FY24 to approximately $600,000, showcasing effective cost-saving measures.
- Alcidion Group Ltd (ASX:ALC) secured significant new contracts, including a 10-year term with North Cumbria Integrated Care NHS Foundation Trust, valued between $30 million and $40 million.
- The company has a strong balance sheet with $11.8 million in cash and improved working capital, setting a positive outlook for FY25.
- Successful deployments of new modules and solutions, such as the emergency department module at Hampshire Hospitals Trust, demonstrate the company's capability to innovate and meet customer needs.
- Full-year revenue for FY24 was $37.1 million, down 8% from the prior year, indicating a challenging market environment.
- The company reported an underlying EBITDA loss of $3.4 million for the full year, reflecting financial challenges.
- Slower-than-expected market activity in the first half of FY24 impacted overall performance, necessitating cost reductions.
- Implementation revenue decreased due to lower sales activity, affecting the overall revenue composition.
- The company faced challenges with some contracts, such as the delayed deployment of the emergency department module at University Hospital Southampton.
Morning, everyone, and welcome to Alcidion's Full Year Financial Results Webinar for the 12 months ending 30 of June 2024. Before we get started today, I would like to acknowledge the traditional owners of the land on which I'm presenting from today that were injury people of the Kulin Nation and of course, acknowledge the lands from which all of you are joining me today and I pay my respects to their elders past and present and I extend that respect to all Aboriginal and Torres Strait Islander people who have joined us on the call.
As this is our full year results, joining me on the call today is our Chair, Rebecca Wilson, and our Chief Financial Officer, Matth Gepp. Today, we'll take you through a presentation covering the key financial and commercial highlights for the year, and then we'll give you some of our thoughts on the outlook ahead, and we'll finish the call up with Q&A.
All attendees have the opportunity to ask questions at the conclusion of the presentation. And if you would
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