Bigtincan Q3 FY24 Business Update

Bigtincan Holdings Limited (ASX: $BTH) has reported record results for the third quarter of the fiscal year 2024, achieving EBITDA of $4.2m with a 14% margin and Free Cash Flow of $4.8m. The company is on track to meet its FY24 outlook, supported by new AI offerings and customer progress.

Executive Commentary on Q3 FY24 Results

The results for Q3 FY24 reflect the positive impact of our business adjustments in 2023 and the investments made in Bigtincan Al technology. We are pleased to see the financial progress with EBITDA of $4.2m and Free Cash Flow of $4.8m, demonstrating the effectiveness of our refocused business strategy. The new AI offerings have been well received, and we are encouraged by the customer progress, including the renewal of contracts and the addition of new customers. The Board renewal program is also progressing well, and we look forward to updating the market on our progress in the next quarter.

Summary of Bigtincan's Q3 FY24 Business Update

Bigtincan (ASX: $BTH) has achieved record EBITDA and Free Cash Flow results in Q3 FY24, positioning the company on track to meet its FY24 outlook. The company's focus on Al technology development has resulted in new AI offerings, with over $3m in Al impacted contracts added during the quarter. Customer progress has been notable, with renewals and new customer acquisitions exceeding targets. Additionally, industry recognition and awards further validate Bigtincan's leadership and innovation. The Board renewal program is advancing as planned, indicating a positive outlook for the company's future.