Wrkr (ASX: $WRK) Q3 FY24 Financial Highlights

Wrkr Ltd (ASX: $WRK) is pleased to announce its Quarterly Activity Report and Appendix 4C (Quarterly Cash Flow report) for the quarter ending 31 March 2024. The company reported positive cash flows from operating activities of $465k in Q3 FY24, with cash receipts from customers increasing by 76% compared to the previous corresponding period. The increase in cash receipts is attributed to milestone payments related to the Link Hong Kong and Superannuation Clearing House multiple contract, as well as growth in SMSF Hub subscriptions. Wrkr's cost to income ratio improved by 29% over the last 2 years, reflecting the company's focus on investing for growth and managing costs. The company continues to strengthen its brand and market awareness, with a pipeline of opportunities expanding across the Superannuation sector through collaborations with LinkGroup, KPMG Australia, and Workday.

Executive Commentary on Q3 FY24 Performance and Outlook

Wrkr's Q3 FY24 performance reflects our commitment to delivering value to our customers and stakeholders. The positive cash flows and increased cash receipts demonstrate the effectiveness of our strategic initiatives and collaborations. We are particularly pleased with the progress of our core platform implementations and pilots with LinkGroup for Hong Kong and Rest & SCH Online, which are pivotal for our future growth. Our collaboration with KPMG in launching KPMG's Workday Extend onboarding solution further strengthens our position in the market. Looking ahead, we remain focused on deploying the Link Group build of the Wrkr Platform, delivering the Hong Kong instance, and supporting KPMG's client implementations of Workday. We are optimistic about the opportunities in the Superannuation sector and are committed to meeting our business objectives and delivering long-term value to our stakeholders.

Wrkr's Q3 FY24 Summary and Outlook

Wrkr's Q3 FY24 report highlights the company's positive cash flows, increased cash receipts, and improved cost to income ratio, reflecting its strategic focus on growth and cost management. The collaborations with LinkGroup, KPMG Australia, and Workday have expanded Wrkr's opportunities in the Superannuation sector, with core platform implementations and pilots progressing well. Wrkr's focus for Q4 FY24 includes the deployment of the Link Group build of the Wrkr Platform, consultation with the market for PayDay Super reforms, and supporting KPMG's client implementations of Workday. The company's strong financial performance and strategic collaborations position Wrkr for continued growth and value creation in the future.