Gentrack's FY24 financial performance

Gentrack Group (ASX:GTK) has unveiled its financial results for the year ending 30 September 2024. The company achieved a 25.5% increase in revenue from continuing operations, totaling NZD 213,242,000. However, the net profit from these operations fell by 5% to NZD 9,546,000. No dividend will be paid for this period.

Overview of Gentrack's strategic direction

Gentrack Group (ASX:GTK) has reported its FY24 financial results, showcasing a robust 25.5% rise in revenue. Despite this growth, net profit dropped by 5%, and the decision was made not to distribute dividends. The company is driving transformation in the utility sector through its innovative g2.0 product, developed in collaboration with Salesforce and AWS. This initiative emphasizes rapid proposition launches, cost reductions, and enhanced customer experiences. Looking ahead, Gentrack aims to continue its focus on sustainability and technological advancement in utilities, with further insights to be detailed in an upcoming investor presentation.

Executive insights on financial results

The company's growth in revenue reflects our ongoing transformation in the utility sector. Despite the challenges, we remain focused on leveraging our technology partnerships with Salesforce and AWS to deliver improved customer experiences and operational efficiencies.