Full Year 2024 Ras Technology Holdings Ltd Earnings Call Transcript
Key Points
- RAS Technology Holdings Ltd (ASX:RTH) reported a 38% increase in total revenue for FY24, reaching $16.2 million.
- The company's EBITDA grew by nearly $2 million, totaling $1.9 million for FY24.
- Annualized recurring revenue reached nearly $19 million by the end of FY24, showing a 43% growth.
- The company achieved its first before-tax profit of $187,000, a significant improvement from the prior year.
- Strong growth in digital advertising and key strategic deals, such as those with stake.com and Playbook Engineering, have bolstered the company's momentum.
- Despite the positive financial metrics, the company only saw a slight reduction in cash balance, ending the year with $8.3 million.
- The company's operating cash flow, although improved, still indicates a need for better cash management.
- The integration and impact of new deals like stake.com and Playbook Engineering have yet to fully materialize in the financials.
- The company faces challenges in maintaining and growing its market share in a highly competitive industry.
- There is uncertainty around the need for potential equity raises to fund future acquisitions.
Good morning, and welcome to Ras's sports investor webinar to discuss the company's FY24 result. In today's webinar we have CEO, Stephen Crispe; and CFO, Tim Olive. (inaudible) (Event Instructions)
I'll now hand it over to Stephen.
Wonderful. Thanks, Dan, and thank you, everyone, for joining us for the investor presentation of the FY24 results. So what has been a really pleasing year for us. And I believe that, you know, our ambition of becoming a global leader in the wagering technology data's space in the racing industry is really well and truly underway and I don't think you'll see through the slide deck. Several of the key steps we've taken over the past 12 months have really cemented and enforced that position as we continue to grow and expand the business.
So let's just take a quick snapshot of where racing and sports is today with the three [primary] business lines that we have within the business. So enhanced information
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