Felix Group Holdings Ltd (ASX: $FLX) Quarterly Business Update & Appendix 4C - Q4 FY24

Felix Group Holdings Ltd (ASX: $FLX) has reported a record sales quarter in Q4 FY24, signing 17 total contracts, including 9 new customers and 8 contract expansions. The company achieved a 54% increase in total contracts signed, reflecting growing demand for its platform. The new ARR added in Q4 FY24 reached $616k, bringing Contractor ARR to $5.7m, a 42% increase on the previous corresponding period. Felix also maintained a high Contractor NRR of 114% in Q4 FY24 and recorded $7.7m Group ARR, a 29% increase on the previous corresponding period. The company reaffirms its target of reaching cash flow breakeven in Q1 FY25.

Executive Commentary on Q4 FY24 Performance and Outlook

Felix's Co-Founder and CEO, Mike Davis, expressed satisfaction with the company's performance, stating, 'We close FY24 with a record quarter of new customers, record-equalling expansion deals and second highest quarter of new ARR. Across the team, we are buoyed by the growing demand and enthusiastic reception from industry for our enterprise solution, with its core focus on solving for supply chain management and visibility. Importantly for shareholders, we are on the cusp of reaching operating cash flow breakeven in Q1 FY25 as a result of strong revenue growth and our disciplined approach to cost management throughout FY24. We enter the new financial year with strong sales traction, building operating leverage and the foundations in place for sustainable growth.'

Summary of Q4 FY24 Performance and Future Prospects

Felix Group Holdings Ltd (ASX: $FLX) achieved a record sales quarter in Q4 FY24, driven by significant new customer wins and expansions. The company's strong performance is evidenced by the 54% increase in total contracts signed, the 42% increase in Contractor ARR, and the 29% increase in Group ARR. With a focus on reaching cash flow breakeven in Q1 FY25, Felix is poised for sustainable growth and aims to continue its momentum in the new financial year.