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- Orcoda (ODA) announces a 19 per cent quarter-on-quarter increase in customer receipts to $3.34 million in the June quarter
- The company also reports a significant 414 per cent increase in consolidated revenue from $1.73 million in FY20 to $8.91 million in FY21
- Orcoda attributes the revenue growth transporting more than 90,000 passengers at the Mt Buller ski resort since the beginning of the snow season
- The transport logistics and services provider rounded off the June quarter with $2.47 million in cash
- Company shares closed at 15 cents on July 22
Orcoda (ODA) has recorded its fourth consecutive cashflow positive quarter for the three months ending June 30, 2021.
The transport logistics and services provider saw a 19 per cent increase in customer receipts from $2.79 million in the March quarter to $3.34 million in the June quarter. This resulted in $8.48 million in cash receipts for the second half of FY21.
Consolidated unaudited revenue rose from $1.73 million in FY20 to $8.91 million in FY21 — representing a 414 per cent increase.
Further, consolidated earnings before interest, taxes, depreciation and amortisation (EBITDA) was $1.08 million for FY21, with the transport, healthcare and resource divisions all profitable in the June quarter.
Managing Director Geoff Jamieson commented on the quarterly results.
“The June 2021 quarter has been an important period for the company, with strong growth across all key metrics and business units,” he said.
Orcoda attributed the revenue growth to the Mt Buller ski resort, with more than 90,000 passengers being transported since the beginning of the snow season.
Significantly, the company signed a memorandum of understanding with several parties to design, manufacture and deliver its Smart Pole technology into the national market.
Smart Pole is planned to support roads and highways with intelligent management, vehicle flow detection and monitoring, road safety, and intelligent messaging. The technology also represents the potential to increase recurring revenues.
Orcoda rounded off the June quarter with $2.47 million in cash.
Company shares closed at 15 cents on July 22.
