Ansarada Group Limited (ASX: $AND) has unveiled its preliminary final report for the half-year ending 31 December 2023, showcasing robust financial performance. The report highlights key financial metrics, including adjusted EBITA of $5.9M, a cash balance of $24.6M, AASB revenue of $27.7M, and annual recurring revenue (ARR) of $11.9M, reflecting a 7% year-on-year increase. The company also experienced significant growth, with a 125% year-on-year increase in customers, totaling 13,691, and a 4% year-on-year increase in subscribers, totaling 2,678. Additionally, the gross margin stood at an impressive 96%, and deferred revenue increased by 14% year-on-year to $19.1M. The average revenue per account also saw a notable 15% year-on-year increase to $1,485.
The company's strong financial results for the half-year ending 31 December 2023 reflect our continued commitment to delivering value to our customers and driving sustainable growth. We are pleased with the substantial increase in customers and subscribers, which underscores the market's recognition of the quality and relevance of our cloud-based SaaS information governance solutions. Our focus on operational efficiency and product-market fit has contributed to the impressive financial metrics, positioning us well for the future. We remain dedicated to executing our expansion objectives, enhancing customer conversion rates, and further strengthening our product offerings to meet the evolving needs of our clients.
Ansarada Group's half-year financial report demonstrates a robust financial performance, with notable increases in key metrics such as ARR, customer base, and gross margin. The company's strategic initiatives to self-fund growth, improve customer conversion rates, and establish a stronger product-market fit for ESG and GRC products are expected to drive continued success. Additionally, the recent Scheme Implementation Deed with Datasite reflects our commitment to strategic expansion. With a focus on operational efficiency and sustainable growth, Ansarada Group is well-positioned to capitalize on market opportunities and deliver long-term value to shareholders.