Full Year 2023 Prophecy International Holdings Ltd Earnings Call Transcript
Key Points
- Record revenue of $19.6 million in FY '23, up from $16.4 million in FY '22.
- Annual Recurring Revenue (ARR) grew by 26% to $23.2 million.
- Cash flow positive in the second half of FY '23 with $2 million generated.
- Strong customer acquisition including major brands like Macy's, Verizon, and BAE.
- Successful transition of Snare product to a subscription model, with 80% of commercial customers opting for subscriptions.
- Overall negative cash flow for the year, with a $1 million deficit.
- Legacy revenue expected to phase out completely by the end of FY '24.
- Operating expenses increased by 20% due to higher employee costs and professional fees.
- Challenges in securing large US government contracts, with only seven out of nine bids still open.
- The company trades at a significant discount compared to other small-cap tech peers, potentially due to market perception and liquidity issues.
Morning, everyone. Thanks for joining us today. Welcome to the Prophecy FY'23 results investor conference call. We've got everybody in listen-only mode at the moment. On the call today, we've got Prophecy CEO Brad Thomas. I'll pass you across in a moment to Brad to kick off our discussion of the company's FY'23 results.
We'll have a presentation from Brad today, followed by an opportunity for Q&A. If you would like to ask a question during the call, please type it into the Q&A panel within the Zoom app.
So to kick things off, I'll hand over now to Prophecy CEO, Brad Thomas. Go ahead, Brad.
Thank you, Tim. Hey, folks. Welcome to the call. I can see that people are still joining. Some familiar names and a few new ones, which is great for those that are joining us for the first time. Welcome and thanks for joining the call. And for those that are returning, great to see you again and look forward to updating you on how we've gone over the last financial year.
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
