Symbio Holdings Limited announces financial results for the half-year ended 31 December 2023

Symbio Holdings Limited (ASX: $SYM) has reported its financial results for the half-year ended 31 December 2023. The company declared a fully franked special dividend of 35 cents per Symbio ordinary share, conditional on the proposed Scheme of Arrangement with Aussie Broadband Limited (ASX: $ABB) becoming effective. The company's gross margin from operations increased by 8% to $51,311,000 compared to the same period in 2022. Underlying Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) rose to $16,264,000 from $11,614,000 in the previous corresponding period. Net profit/loss after tax excluding amortisation (NPATA) also increased to $7,009,000 from $4,344,000 in line with increased gross margin and continued cost saving measures.

Executive Commentary on Financial Performance and Business Outlook

Symbio Holdings Limited, a Software-as-a-Service (SaaS) company, has delivered strong financial results for the half-year ended 31 December 2023. The company's three revenue generating divisions, CPaaS, TaaS, and UCaaS, have shown promising growth. The CPaaS division aims to acquire 100 million phone numbers on the network by 2030 and has been empowering software companies and larger infrastructure-based service providers. The TaaS division, operating under the Telcoinabox brand, focuses on providing a digital platform for small service providers and has achieved a 6% growth in services. The UCaaS division, which focuses on enabling the roll-out and self-service management of Enterprise collaboration services, has shown significant growth in seats, including the addition of approximately 60,000 seats from the Intrado acquisition in January 2023. The company remains confident in the global megatrends of enterprise cloud adoption and new ways of working, and is expanding into the high-tech Asian markets of Singapore and Malaysia, further increasing its addressable market and fueling long-term growth.

Summary of Financial Performance and Business Outlook

Symbio Holdings Limited has reported a strong financial performance for the half-year ended 31 December 2023, with an increase in gross margin and continued cost saving measures driving growth. The company's three revenue generating divisions, CPaaS, TaaS, and UCaaS, have shown promising results, with a focus on acquiring 100 million phone numbers on the network by 2030. The company's business outlook remains positive, with confidence in the global megatrends of enterprise cloud adoption and new ways of working. Symbio Holdings Limited is profitable, cash generative, and maintains a strong balance sheet, positioning itself well for future growth and expansion into high-tech Asian markets. The proposed Scheme of Arrangement with Aussie Broadband Limited is expected to further enhance the company's position in the telecommunications industry.