Half Year 2024 QANTM Intellectual Property Ltd Earnings Call Transcript
Key Points
- QANTM Intellectual Property Ltd (ASX:QIP) exceeded analyst expectations for FY 24 on both EPS and EBITDA measures.
- The company delivered its best half-year and overall period results since listing in September 2016.
- All business units showed strong organic growth, with service charges revenue up 9.2% to $56.8 million.
- Underlying EBITDA increased by 25.7% to $17.3 million, and underlying NPAT was up 43.4% to $9.6 million.
- The Board confirmed a dividend payment of $4.9, up 75% on the prior corresponding period.
- Patent filings showed some fluctuation, with a soft start in Q1 and a bounce back in Q2.
- Employee compensation costs increased slightly by 1.6%, reflecting the full impact of a cost-out program.
- Technology expenses increased by $0.5 million due to a new cloud policy implemented in January 2023.
- The company faced challenges in maintaining consistent cash conversion rates, with a notable improvement needed to sustain 87%.
- Restructuring and technology costs are expected to continue impacting financials in H2.
Thank you, Lewis. And good morning, all. Thank you for joining. And welcome to the QANTM Intellectual Property FY 24 half year results update. I'm Craig Dower, the CEO and Managing Director of QANTM. And I'm joined today by Brenton Lockhart, our Chief Financial Officer. Brenton and I will take turns in providing an update on how our business is performing and the progress that we're making on various strategic investments that we're making across the QANTM group.
Before I start today, I just want to briefly explain why we have brought forward our results announcement by a couple of days. The simple reason is that we completed our Board review and audit process a few days earlier than planned. And that on the strength of the results, we wanted to share them as soon as possible. But this has caused any challenges for investors or market analysts in terms of calendar slots, we will happily make time available to accommodate alternative time slots.
Moving to slide 3. Our agenda. I'll cover a few
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