Ava Risk Group Limited
FY24 Results – A Year of Strategic Pivots and Steady Progress
By Elric Langton | 29 August 2024
Alex, Elric and Mike have a financial interest in Ava Risk Group.
Ava Risk Group announced its latest full-year results on 27 August 2024, painting a picture of a company balancing on the precipice of significant growth yet grappling with the immediate costs of transformation. This fact has created a stop-go-stop in the decision to bail on the Company and redeploy the proceeds elsewhere.
Highlights
Sales order intake of $35.3 million, up 14% on PCP
Group revenue and other income of $30.2 million, up 5.6% on PCP and 2H24 up 13% on 1H24
Significant orders in major infrastructure projects in Australia and Latin America secured
Major supply agreement with Telstra Group announced in February 2024
Group gross margin of 60%, in line with expectations
Underlying Group EBITDA of $(0.9) million following investments in technology and commercial capabilities supporting a record sale order intake, with EBITDA positive in 2H FY24
Sales order backlog of $8.5 million on 30 June 2024, representing orders received yet to be fulfilled
Backlog includes $2.0 million of annual recurring revenue under contract driven by a strong uptake of subscriptions for Aura Ai-X
Cash balance of $5.1 million on 30 June 2024
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Sales are on the Rise, but Profits Elude