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H1 FY2023 Results Limited (ASX:UBN) released its full year result to 31 December 2023

  • H1 FY2023 licence revenue of $5.56m1, up 2.6% vs previous corresponding period (pcp) and Q2 FY2023 licence revenue of $2.81m up 2.1% vs pcp driven by new and organic growth

  • H1 FY2023 revenue of $6.32m, down 0.6% vs pcp and Q2 FY2023 revenue of $3.08m, down 4.0% vs pcp due to a decline in professional fees and loss of Ventia

  • Q2 FY2023 average monthly cash used was $49k1. Adjusting for late receipts, underlying average monthly cash used was $83k

  • Urbanise exceeded its cash burn reduction target of $2.5m in Q2 FY2023 with a total of $2.714m realised since Q3 FY2022

  • Closing cash balance of $2.83m1 (30 September 2022: $2.98m) and no material debt2

  • From 1 July 2022, Urbanise is expensing all strata development costs. FM development costs are already fully expensed.

  • Urbanise will release its H1 FY2023 result in February 2023 when it will provide further details on Annualised Recurring Revenue (ARR) and backlog.


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