DXN (ASX:DXN) FY24 Financial Results Overview

DXN Limited (ASX:DXN) has reported its financial results for the fiscal year 2024. The company's group revenue reached $10.8 million, marking a significant 63.5% increase from the previous year. DXN also achieved a positive EBITDA of $0.64 million, a notable turnaround from the previous year's loss of $4.96 million. The company's net loss reduced by 76% to $2.3 million compared to the prior year. DXN's operating cash flow saw a positive trend, with $1.3 million positive operating cash flow in the second half of FY24, compared to a negative cash flow of $0.9 million in the first half. The company's closing cash stood at $2.98 million. Additionally, DXN has refreshed its board, welcomed a new CFO, and Company Secretary.

Executive Commentary on FY24 Performance

DXN designs, manufactures, operates, and owns data centers that bring critical communication infrastructure closer to where users need it. We are pleased with the significant growth in group revenue and the positive EBITDA achieved in FY24. The increase in module orders and revenue, as well as the successful deployment of over 80 prefabricated modular data centers globally, demonstrate the market's confidence in our offerings. We are optimistic about the outlook for FY25, with over $1.5 million in new module orders year-to-date and a revenue guidance of $16.0 million, reflecting a 48% increase from FY23. We are also introducing new services for modules, such as data centers as a service (DCaaS), and exploring opportunities for high-density modules for the AI industry.

Summary of FY24 Results and Outlook

DXN Limited (ASX:DXN) has delivered strong financial results for FY24, with a notable 63.5% increase in group revenue and a positive EBITDA of $0.64 million. The company's performance was driven by a 202% improvement in module orders, with $12.4 million orders won in FY24. DXN's data centers in Hobart and Darwin contributed $2.5 million in revenue and $1.3 million in EBITDA. The company has also achieved a $1.4 million annual saving from the exit of the Sydney data center lease. Looking ahead, DXN anticipates a 48% revenue increase in FY25, supported by over $8.9 million in module orders in hand and an additional $1.5 million contracted since the year end. The company is focused on optimizing operations, expanding sales coverage into international markets, and introducing new services for modules, indicating a positive outlook for future growth and development.