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JCURVE SOLUTIONS LTD — Earnings Release 2023
Jul 26, 2023
65158_rns_2023-07-26_f7708952-1baf-46b2-81ec-dc6807395af6.pdf
Earnings Release
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ABN 63 088 257 729
9 Help St, Chatswood NSW 2067, Level 8, Australia https://www.jcurvesolutions.com/
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27 July 2023
Business Update – Preliminary Unaudited FY2023 Financial Results
Summary
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ü Record statutory revenue recognised of $16.4m in FY2023 (7% increase on the FY2022 result)
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ü $1.6m EBITDA in FY2023 (4% decrease on the FY2022 result)
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ü $0.3m statutory profit before tax in FY2023 (29% increase on the FY2022 result)
JCURVE SOLUTIONS LIMITED (ASX: JCS) (Jcurve), the business transformation technology company, today reported its FY2023 trading result with the release of its preliminary unaudited results for the year ending 30 June 2023 (FY2023).
Our FY2023 preliminary unaudited results with a comparison between key reporting measures and the comparative FY2022 period is outlined below:
| Measure | FY2023 PreliminaryUnaudited Result | FY2022 ActualResult (****) | Percentageincrease/(decrease) |
|---|---|---|---|
| Sales income (*) | $15.8m | $16.1m | (1%) |
| Revenue (**) | $16.4m | $15.3m | 7% |
| Unearned income (**) | $3.5m | $4.0m | (11%) |
| Normalised EBITDA (***) | $1.6m | $1.7m | (4%) |
| Net profit before tax (**) (****) | $0.3m | $0.4m | (29%) |
| Cash Balance (**) | $4.3m | $5.1m | (17%) |
(*) Not revenue as per the accounting standards and not reported in the statutory financial results
(**) Reported in the statutory financial results
(***) Earnings Before Interest, Taxation, Depreciation and Amortisation
(****) Adjustment to FY2022 Actual EBITDA result to exclude $0.3m government subsidiary received and add back the $0.4m Rapid Thailand net acquisition payment expensed under the accounting standards. Adjustments recorded for comparability purposes in the normalised EBITDA calculations.
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ABN 63 088 257 729 9 Help St, Chatswood NSW 2067, Level 8, Australia https://www.jcurvesolutions.com/
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Despite sales income coming in slightly below the FY2022 result, our delivery of projects and therefore statutory revenue reached a new record for Jcurve for FY2023 of $16.4m. Our underlying business earnings remain strong with an EBITDA for FY2023 of $1.6m.
The company remains debt free and continues to hold strong cash reserves, with a cash balance of $4.3m as of 30 June 2023. It is noted that the cash balance was impacted by some slightly delayed customer receipts, which were received in early to mid July which would have seen the balance above $4.5m at the end of the period if they had not been delayed.
The full-year audited results including detailed commentary on the results will be released in late August 2023.
This announcement has been authorised for release by the Board of JCurve Solutions Limited.
About Jcurve
Jcurve works collaboratively with ambitious organisations to drive growth through the effective use of technology. Serving as a trusted guide in an on-demand world, Jcurve helps build growing and resilient organisations to withstand market disruption.
From business management solutions and consulting services to field service management and digital marketing services – Jcurve is uniquely positioned to help organisations on their business transformation journey.
For more information, please visit www.jcurvesolutions.com.
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