- Envirosuite (EVS) records another quarter of record results as the software provider’s focus now shifts to maintaining momentum
- New annual recurring revenue (ARR) for the last three months came to $2.3 million, with a major portion coming from the aviation sector
- As of June 30, recurring revenue for the full year stood at roughly $46.5 million — an eight per cent increase compared to last year
- The company is now looking to ramp-up resources to support its entry into the US market
- Envirosuite is up 9.52 per cent to $0.12 per share at 10:46 am AEST
Envirosuite (EVS) has recorded yet another quarter of record results as the software provider’s focus now shifts to maintaining momentum.
New annual recurring revenue (ARR) for the last three months came to $2.3 million, with a major portion — $1 million — coming from the aviation sector. Roughly $500,000 came from waste and wastewater, while $400,000 came from mining and the remaining $400,000 came from other customer segments.
Of the new reported revenue, $1.3 million came from existing customers, which Envirosuite said shows the execution of its strategy to develop more in-depth relationships with its blue-chip customers.
Taking into account an $800,000 bonus from foreign exchange movements, as well as the reversal of some discounts, recurring revenue stood at around $46.5 million as of June 30 — an eight per cent increase compared to the same time last year.
Meanwhile, non-recurring revenue for the last three months came to $2.4 million, with $1.5 million generated from the aviation industry, $400,000 from mining and the remaining $500,000 from other segments.
Chief Executive Jason Cooper said the second half of the 2021 financial year had been a breakout period for new sales, new projects and growth.
“These results reflect our focus to build a culture of high performance,” he added.
In a statement released this morning, Envirosuite said the results set the foundation for continued growth while reducing both risks and costs. A particular emphasis is also being put on the development of its sales channels and the ramp-up of resources to bolster the company’s entry into the US market.
“The increasing emphasis surrounding environmental, social and governance (ESG) criteria highlights the critical role Envirosuite plays in safeguarding the environment and communities,” Mr Cooper continued.
“As we enter FY22, EVS is well positioned to capitalise on these macro themes with renewed focus and discipline to continue delivering on our customer acquisition strategy to land, expand and scale accounts across all sectors.”
Envirosuite is up 9.52 per cent to $0.12 per share at 10:46 am AEST.