Business software developer Prophecy International Holdings Ltd (ASX: PRO, "Prophecy" or "the Company") is pleased to advise of continued financial and operational progress across its business units in Q1 FY25.
Highlights:- Contracted annualised recurring revenue (ARR) now $25.8M. Contracted ARR increased by 30% from FY23 to FY24 across the business after recent adjustments to ARR reporting
- Continued efficient conversion of revenue into cash, with Q1 FY25 invoicing +5.5% YoY to $5.2M
- Positive cash flow expected in FY25
- High-profile recent customer and partner wins across the business, including:
- emite: Eva Air, Manulife, Emirates NBD, HBF & Hollard Insurance
- Snare: UPS, Nielsen, Trustwave, NSW Dept of Communities and Justice, HCL America, C1SOC & Occidental Petroleum
- Strategic partnership with Devo Technology has made strong early progress on customer deployments, with more than 140,000 end points licensed with Devo to date and a positive outlook for continued growth. Migration of Devo’s existing customers to Snare will continue over CY25
- 12-month potential sales pipeline (unweighted) valued at $23.3M. Market tailwinds remain positive for continued expansion in cloud data management, CX analytics and cybersecurity data management
- Net cash of $7.8M as at 30 September 2024 with zero debt. Cash is lower in H1 as expected, due to seasonality of both payables and receivables across the company
- ISO27001 and SOC2 security compliance achieved
