I would like to conclude by summarising what the consolidated group now looks like – from a financial perspective - and where our strategic focus will be as we move forward.
From a financial perspective, the Alcidion Group’s unaudited pro forma revenues for FY2018 were $12.7 million. That is, financials for the previous financial year adjusted to illustrate the impact of a full year contribution from the acquired businesses.
Our net loss for FY2018 on an unaudited pro forma basis was $1.6 million, however this included oneoff M&A costs of $1.0 million and $675,000 in other one-off additional expenses, so on this basis it can be reasonably expected that Alcidion is trending towards a break-even position.
We recently released our first quarter FY2019 results and reported a positive operating cash flow of $221,000 with a very strong uplift in cash receipts to $5.1 million for the quarter.
We now have a total of $11.1 million in contracted revenue which is scheduled to be realised in FY2019 and a further $18.2 million to be realised over the next five years.
The objective is to transition our business from a technically focussed, development-oriented company to one with a highly competitive offering, a strong market proposition and a demonstrated ability to deliver commercially. This transition will be a focus of the year ahead and will be supported by disciplined management to ensure we leverage the combined capabilities of our acquisitions, so we can achieve profitability in FY2019 and accelerated growth beyond.
I believe Alcidion is very well placed to deliver value for our shareholders.
sounds all positive to me!
ALC Price at posting:
4.4¢ Sentiment: Buy Disclosure: Held
sounds all positive to me!
