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FY2023 Results Limited (ASX:UBN) released its full year result to 30 June 2023

  • FY2023 licence revenue of $11.16 up 1.5% vs previous corresponding period (pcp) as new customers and organic growth deliver $1.0m in underlying licence revenue growth.

  • FY2023 revenue of $12.85m, up 1.5% vs pcp driven by license fee growth and 1.3% increase in professional fees; 87% recurring revenue.

  • Annualised recurring revenue (ARR) of $11.56m, up 6.5% on pcp driven by new customer wins and organic growth.

  • Contracted ARR (CARR) of $12.4m at 1 July 2023, up 2.5% on pcp and includes estimate backlog of $0.8m.

  • EBITDA loss of $4.2m, 27.1% decline vs pcp (FY2022: $3.3m) largely driven by an increase in operating expenses due to the discontinuation of the capitalisation of Strata development costs.

  • FY2023 underlying average cash used $223k vs $241k in FY2022.

  • Closing cash balance of $4.25m (31 December2022: $2.83m) and no material debt.


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