Full Year 2024 Wrkr Ltd Earnings Call Transcript
Key Points
- wrkr Ltd (ASX:WRK) reported a 45% increase in revenues for the year, marking significant growth.
- The company achieved a positive EBITDA for the first time since listing in 2016, indicating improved financial health.
- wrkr Ltd successfully renewed its contract with Precision Administration Services with a 25% uplift, showcasing strong client relationships.
- The company entered strategic partnerships, including with Transmit Security, to enhance security and cyber posture, focusing on fraud prevention.
- wrkr Ltd's capital raise attracted institutional investors, strengthening its balance sheet and providing funds for future growth initiatives.
- Operating expenses increased by $0.84 million, driven by new resources and partnerships, which could impact profitability.
- The company faces challenges in reconciling trust accounts daily, although improvements are being made.
- There is uncertainty regarding the timing of achieving the targeted 2 million user onboarding, which could affect revenue projections.
- wrkr Ltd is exposed to fluctuations in income from float, which is dependent on market interest rates and outside of the company's control.
- The competitive landscape poses a threat, with potential new entrants and existing competitors possibly catching up to wrkr Ltd's offerings.
Okay. Well, look, thanks very much for everybody who has attended, always excited to have our investors both old and new join the call. So today we will predominantly be focused on the finances. So of course you have myself, Trent Lund, the CEO; to my side is Karen Gilmour, our CFO. What we want to run through today is really the audited results for the year, how the year finished up, give some context behind those numbers. And then a little bit of a highlight into what we're focusing on coming out of the recent capital raise as well for the next 12 to 18 months.
Post that, we'll jump straight into Q&A. We want to leave as much time as we can for the Q&A. We always get some really interesting questions so that'll be the prime focus. So without further ado, I think what I what I'd like to do is just like Karen kick off and run through really the numbers with detail. A reminder to everyone, it's being recorded. It will be posted and made available on the Wrkr InvestorHub. But also, throughout the
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