- Yojee (YOJ) has reported a 36 per cent growth in revenue to $278,000 for the March 2021 quarter
- The cloud-based software company also saw a 42 per cent rise in cash receipts from the previous quarter and a significant 174 per cent year-on-year increase
- Yojee successfully implemented its platform in six revenue-generating hubs across the Asia-Pacific, with another two currently being implemented
- Its platform is used to manage, track and optimise freight movements along an entire logistics chain and Yojee is working on adding more enterprise clients
- In terms of expenditure, Yojee spent about $1.3 million across operating and investing activities but still rounded of the quarter with $19.7 million in cash
- Company shares are up 6.67 per cent and are trading at 16 cents
Yojee (YOJ) has reported a 36 per cent growth in revenue from ordinary activities to $278,000 for the March 2021 quarter.
The cloud-based software-as-a-service company also announced a 42 per cent growth in cash receipts to $332,000 for the quarter compared to the December quarter.
When compared to the March 2020 quarter, cash receipts from customers grew by 174 per cent — of which recurring revenue increased by 80 per cent.
Yojee’s cloud-based software logistics platform is used to manage, track and optimise freight movements along an entire logistics chain.
So far, the company has implemented its platform in six revenue-generating logistics hubs in the Asia-Pacific region. Across these six hubs, the Yojee platform processed 782,917 “planned delivery” transactions during the March quarter.
The company is now looking to implement the platform in two more logistics hubs. Yojee hopes to have 126 hubs under its three-year roll-out growth plan.
“We have made outstanding progress on all key fronts this quarter, including hub implementation, revenue growth, customer satisfaction and network advantages. Discussions are ongoing with existing and new enterprise clients for Yojee to develop a deeper and wider presence across the supply chain in Asia Pacific and beyond,” Managing Director Ed Clarke said.
Last quarter, Yojee signed long-term agreements with several small and medium companies including one with WORKLINK SERVICES (WSI).
WSI is the holding company of the Udenna Group’s shipping and logistics businesses, which provide efficient, effective and reliable courier, forwarding, trucking and logistics services to different industries.
“Our team have been impressed with Yojee’s user friendly system and it has given us more confidence to offer our services to new customers,” WSI President Dexter Silva said.
In terms of expenditure, Yojee spent about $1.3 million across operating and investing activities. More specifically, most of its cash outflows went towards advertising, marketing, product manufacturing, admin and staff costs, as well as intellectual property.
Nevertheless, Yojee still rounded off the March quarter with around $19.7 million, which is slightly less than the $21.1 million it started with.
Company shares are up 6.67 per cent and are trading at 16 cents at 2:31 pm AEST.