Urbanise.com Limited (ASX:UBN) released its half year result to 31 December 2024
H1 FY2024 license revenue of $5.77m, up 3.7% vs prior year corresponding period (pcp) as new and backlog contracts and organic growth deliver $0.8m in underlying license fee growth
H1 FY2024 total revenue of $6.27m, down 0.9% vs pcp with increase in license fees more than offset by a decline in professional fees; 92% recurring revenue
Annualised Recurring Revenue (ARR) of $11.99m, up 6.3% on pcp driven by new customer and organic growth
Contracted ARR (CARR) at $12.8m at 1 January, up 4.0% on pcp; includes estimated backlog of $0.8m
EBITDA loss of $1.52m, 29.1% improvement vs pcp (H1 FY2023: $2.1M), largely driven by lower operating expenses
Closing cash balance of $3.76m (30 June 2023: $4.25m) and no material debt.