Results Announcement for the first half of FY18
Finzsoft is pleased to provide its half-year report and its performance highlights for the half-year ended 31 December 2017:
- Finzsoft continues to trade well and has invested heavily in new business models to support its leading position as the next generation Connected Core, digital and SaaS banking and financial institution software, and the expansion into Asean markets.
- In December 2017, Finzsoft entered into a market leading strategic relationship with Datacom Systems Limited to create a scalable and flexible model to ensure that the business can continue to grow into new and existing markets.
- Six month operating revenue of $7.44 million is down on the same period last year (31 December 2016 $10.39 million). The revenue is derived from annual licence, initial licence fees and professional services from existing and new clients. The timing of these are variable.
- EBITDA result of $200k is down on the same period last year (31 December 2016 $3.7 million). Net loss after tax of $305k is down on the same period last year (31 December 2016 $2 million net profitafter tax). The current six month period includes non-recurring transaction related costs in excess of $500k.
- Further investments into the sales and marketing function have been made to take advantage of opportunities presented both domestically and in Asean markets.
- Based on current contracted revenue, along with our pipeline opportunities, we will expect to seeFinzsoft operate profitably with no debt and positive cash flow.
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Results announcement report