- Buddy Technologies (BUD) has told shareholders it expects to table revenue of between $24 million and $28 million for H2 FY21
- By way of comparison, in the prior corresponding period, the Internet of Things (IoT) and cloud-based technology company generated $10.8 million in revenue
- The company also said that while it expects adjusted earnings to be positive, it's not yet in a position to provide specific guidance for the period
- BUD shares are trading flat at 5.8 cents
Buddy Technologies (BUD) has told shareholders it expects to table revenue of between $24 million and $28 million for H2 FY21.
Revenue within this range would be more than double what the company generated in the prior corresponding period when it reported $10.8 million in unaudited revenues.
"With these two quarters historically being our quieter period of the year, it would demonstrate the remarkable market opportunity before this company as the world shifts to smarter spaces, and smarter light," said CEO David McLauchlan.
The Internet of Things (IoT) and cloud-based technology company also expects positive adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) for the second half of the financial year.
"With our recent progress in restructuring our finance facilities and debt, achieving cost downs across our product range and the elimination of all restrictions on our ability to manufacture product as and when necessary, we are thrilled to be in a position to provide financial guidance to the market for the first time in our company’s history," David added.
Buddy, however, said it is not yet in a position to provide specific EBITDA guidance but expects the figure to be positive.
These forecasts are based on orders which have been paid for either in part or in full and do not include anticipated orders.
BUD shares are trading flat at 5.8 cents at 10:18 am AEDT.