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Q4 FY22 Investor Update
Optimatech.io
28 July 2022
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FY22 Q4 Performance highlights
Optimising cash runway while repositioning for ESG growth
Financial | $(2.4m) | $10.7m | $11.7m | 51% | ||||||||||
performance | ||||||||||||||
Cash flow1 | Cash on Hand | Platform ARR2 | Platform GM3 | |||||||||||
$(2.8m) in Q3 | $4.3m in Q3 | Comprised of $0.5m | 46.5% in Q3 | |||||||||||
$(3.7)m in Q2 | new business, 7.9% | Note margin | ||||||||||||
churn, $0.3m FX/ | ||||||||||||||
$(4.9m) in Q1 | includes US | |||||||||||||
Other | ||||||||||||||
operations | ||||||||||||||
$11.7m in Q3 | ||||||||||||||
Channel partner | ✓ Expand existing channel partners | ✓ New channel partners | ||||||||||||
focus | (Reach, relevance & global penetration) | (New products: Net Zero & EV capability) |
Operational | Brand | Technology | Sales | Marketing | US |
investments | |||||
Review of US | |||||
GTM repositioning to | Improvements and | Increased channel | Brand awareness | ||
operations ongoing | |||||
serve the ESG | data capability | sales capability in | and lead generation | ||
and focus on | |||||
market: Net Zero | developed for new | the UK as priority | initiatives targeted | ||
licensing of micro | |||||
data solutions | segments/services | at Net Zero | |||
services | |||||
reporting | |||||
Notes
- Cash flow represents quarterly cash movement excluding net monies generated via capital raise (Q4 +$7.9m), exercise of options (Q4 nil), payments made in relation to earnout (Q4 nil), impact of one-off R&D incentives (Q4 +$0.7m) and Fx movements (Q4 +$57k)
- Platform ARR is calculated as annualised revenue (excluding credits, adjustments) for the relevant quarterly period, excludes Rebate business and discontinued operations
3. Platform GM is calculated as actual revenue (excluding credits/adjustments) less cost of goods/services sold (excluding credits/adjustments), divided by actual revenue (excluding credits/adjustments) for the relevant quarterly period, excludes Rebate business and discontinued | 2 |
operations |
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Q4 Results update
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FY22 Q4 Cash Flow Optimisation
Operating efficiency initiatives driving significantly improved cash flow from $(4.9m) in Q1 to $(2.4m) in Q4
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Cash flow1
Q1 FY22 | Q2 FY22 | Q3 FY22 | Q4 FY22 |
$(2.4)m | |
$(2.8)m | |
$(3.7)m | |
Excludes $0.7m | |
+$2.6m | received in |
annual R&D |
Q4 FY22 cash flow improved to $(2.4m), underpinned by:
- Completion of exit from ~20 unprofitable US contracts saving ~+$4m on an annualised basis
- "Right-sizing"the corp. executive & AU team, saving an additional ~+$1m (incremental to +$1m previously communicated) on an annualised basis
- Enhanced cost efficiencies, including rationalising and consolidation of vendors and continued R&D claims (note +$0.7m impact from R&D claims is not included in cash flow in the chart opposite)
- Revised billing and collection processes
- Note that normalised cash flow is in part influenced by seasonality of upfront customer receipts.
Despite the significant reduction in cash burn over Q4, we have
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$(4.9)m
tax incentive
continued to efficiently invest in new growth levers - technology, sales capability, brand, marketing and product, which better positions business for future Net Zero market reporting demand
Notes
1. Cash flow represents quarterly cash movement excluding net monies generated via capital raise (Q4 +$7.9m), exercise of options (Q4 nil), payments made in relation to earnout (Q4 nil), impact of one-off R&D incentives (Q4 +$0.7m) and Fx movements (Q4 +$57k)
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FY22 Q4 Platform ARR
Incremental ARR1 of $0.5m achieved via new business, however offset by churn and exchange rate impacts. ARR expected to scale in coming quarters as benefits of investment in brand, technology, sales and marketing are realised
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Platform Annual Recurring Revenue (ARR)1
$(0.2)m
$0.5m
$(0.3)m
$11.7m | $11.7m | |||||
- New business was led by contract wins with a UK based oil and gas conglomerate deploying new EV pricing/charging product, APA Group, Harvey Norman, Fonterra, Sunrice
- Q4 annualised churn of 7.9% was broadly in line with average annualised churn from Q1 to Q3 (7.2%)
- In line with recent strategy, we are focused on new customer wins that are profitable for the platform
ARR Q3 New Business Churn | Other/FX | ARR Q4 |
Notes
1. Platform ARR is calculated as annualised revenue (excluding credits, adjustments) for the relevant quarterly period, excludes Rebate business and discontinued operations
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BidEnergy Limited published this content on 27 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 July 2022 23:57:08 UTC.