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- Orcoda (ODA) reports “strong growth” in customer receipts and operating cash flows for Q4 FY23
- The company posted customer receipts of $22.4 million for the June quarter and operating cash flows of $2.1 million
- Subsequent to the quarter’s end, ODA acquired Future Fleet, “substantially” adding to the company’s recurring revenue stream
- The company held $5.8 million in available funding at the end of the financial year
- Orcoda last traded at 28 cents
Orcoda (ODA) has reported continued “strong growth” in customer receipts and operating cash flows for the three-month period to June 30, 2023.
The company revealed 31 per cent year-on-year (yoy) growth in customer receipts totalling $22.4 million and operating cash flows of $2.1 million, up 97 per cent to the previous year.
Orcoda also highlighted total unaudited income of $20.7 million, up 25 per cent yoy.
The company announced it had $5.8 million in available funding at the end of the financial year.
“I am particularly pleased by our recent commercial successes with the signing of several large contracts in both our software and contracting businesses, providing a strong pipeline for FY24,” ODA Managing Director Geoff Jamieson said.
“Additionally, we acquired Future Fleet which will add substantially to our recurring revenue stream and we will be working closely with Future Fleet to integrate our products and realise cross-selling synergies.
“With the continued acceleration of digital transformation and rapid developments in connected cars and AI, I am excited about the future growth opportunities for Orcoda as a leading provider and innovator of Smart Cities transport technology and contracting solutions.”
The company has also announced it’s on track to launch vehicle pooling and vehicle rental segments software in the coming months.
Orcoda last traded at 28 cents.
