Full Year 2024 TASK Group Holdings Limited Earnings Call Transcript
Key Points
- Strong revenue growth with a 20% increase in operating revenue to AUD70.7 million.
- Significant expansion of the team with a 27% increase in FTE to support growth drivers.
- Introduction of new product innovations, including operating system agnostic POS and kitchen systems.
- Expansion of Plexure Platform into key Asian markets like Hong Kong and Taiwan.
- Maintained a net cash position of $18.8 million with no debt facilities or borrowings.
- Operating costs increased by 30% due to focused investment in people and platform.
- Staff costs rose by $9.4 million, impacting overall profitability.
- IT costs increased by $6.2 million due to higher active user numbers on the McDonald's platform.
- Posted a net loss after tax of $7.4 million for FY24.
- Share-based payment expenses and related costs amounted to $4.3 million, contributing to the net loss.
Good morning, and thank you all for joining us today to discuss TASK Group financial results for the year ended March 31, 2024. I'm TASK's CEO, Daniel Houden, and alongside me is Glenn Day, our Chief Financial Officer.
I'd like to update you today on our strong revenue growth performance for the year and as well as the continued operating profitability of TASK Group while also making strategic investments in our end to end offering. Following this, we'll have time for Q&A.
Turning out to our agenda this morning. First, I will provide an overview of our financial and strategic highlights of the year, including the strong foundations we laid for profitable growth. I'll also provide a business update on our work to maintain our continued technology leadership in the transaction management loyalty space, including our new product offerings. Then, I'll hand over to our CFO, Glenn Day, to explain our financial results in more detail. And lastly, I'll open up for any questions.
Turning now to
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