Urbanise Releases Quarterly Activities Report
Urbanise.com Limited (ASX:UBN) (“Urbanise” or “the Company“) today provides a business update and Quarterly Cash Flow Report for the period ended 30 June 2020 (Appendix 4C). Urbanise is a leading provider of multi-tenant cloud-based Software-as-a-Service (SaaS) platforms to strata and facilities managers in Australasia, the Middle East, Europe and South Africa.
Urbanise’s CEO Saurabh Jain said: “We are very pleased with our performance during the June quarter which reflected our continued focus on licence revenue growth, cost discipline and driving working capital efficiencies. Underlying average monthly cash used of $75k was at its lowest level since the 2014 IPO. Our financial position remains strong with no material debt at 30 June 2020 and a closing cash balance of $4.55m.