Full Year 2024 Envirosuite Ltd Earnings Call Transcript
Key Points
- EnviroSuite Ltd (ASX:EVS) reported a 25.5% improvement in EBITDA over the previous year, indicating strong financial performance.
- The company achieved a 2.8% year-on-year growth in annual recurring revenue, reaching $61.1 million.
- EnviroSuite Ltd (ASX:EVS) has a global footprint, supporting customers in over 40 countries, which allows for the addition of new sites without significant increases in operating expenses.
- The company has a scalable business model, which is expected to transition it to profitability with controlled operating costs.
- EnviroSuite Ltd (ASX:EVS) is recognized as a leader in environmental intelligence technology, with strong validation from hundreds of sites worldwide using its technology.
- The company experienced a slight decrease in customer size, attributed to the end of fixed-term contracts and a strategic focus on long-term, high-value customers.
- Nonrecurring revenue dropped compared to the previous year, with some significant projects deferred to FY25.
- EnviroSuite Ltd (ASX:EVS) faced an impairment of goodwill amounting to $18.3 million, reflecting conservative growth rates.
- There was a slight increase in sales and marketing expenses, partly due to events like FORUM23, impacting overall costs.
- The company acknowledged that its share price does not reflect its valuation, which is disheartening for management and shareholders.
Good morning, everyone, and welcome to our FY24 full-year results and annual report presentation. My name is Jeremy Gaedtke. I'm the Director of Marketing and Communications at Envirosuite, and I will be your moderator today. I'm joined by Jason Cooper, our CEO; and Justin Owen, our CFO.
We're very pleased to present our annual report for FY24. Before we get into the presentation, a little bit of housekeeping around Q&A. (Event Instructions)
With that, I'd like to hand over to Jason to kick off today's session.
Thanks, Jeremy. Thank you very much. And we're certainly excited to be sharing the results here for FY24. Let's get into the detail here. So the structure for today is we will come back over and certainly introducing Envirosuite and give a better context to the strategy that we have got in place and how we're tracking to that.
We'll get into the FY24
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