Happy with the result. I had $15.9 mil in my calcs but they received $16.18 mil.
Also, looks like they have secured an additional $800k post 30 June taking total revenue to $17 mil.
With the new acquisition and scale - this will help drive costs lower. Margins will improve from this year.
This year was all about laying down the ground work - they have paid for platform development, increased staff, content licensing and acquisitions. Implemented Web2TV platform. Barely been selling in aged care sector for 3 months and already been huge success. Cash flow positive quarter.
And the best part is - 90% of the revenue is recurring so $15.3 mil in the bag for Fy18 already. Now its a matter of getting new contracts - 83 sites in aged care, cross sell swift services to VOD clients and implement Swift services on larger scale such as the Shell Prelude (which is on its way from ) and INPEX etc.
I am confident we will hit around$20-$21mil and NPAT for FY18.
Good job team Swift !!!
Happy with the result. I had $15.9 mil in my calcs but they...
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