Envirosuite (ASX: $EVS) FY24 Q3 Sales Update

Envirosuite Limited (ASX: $EVS) has achieved $2.9m of New Sales in FY24 Q3, with New ARR of $1.8m and Project Sales of $1.1m. Total ARR has grown to $62.6m, up 11.4% PCP.

Envirosuite CEO, Jason Cooper's Commentary

The Company continues to achieve sustainable growth as it remains focused on delivering on its guidance target of positive Adjusted EBITDA less Capitalised Development on a run rate basis in FY24. The EVS Industrial growth we are seeing, particularly from the Mining and Waste sectors and in the Americas region, is a direct reflection of the Company's focused growth strategy in these segments and is further supported by macro-economic drivers including ESG, Environmental Justice in the USA, and the increasingly prevalent need for industry operators to demonstrate responsible operational practices.

Outlook and Summary

Envirosuite remains committed to meeting its guidance target to deliver positive Adjusted EBITDA less Capitalised Development on a run rate basis during FY24. The Company expects a solid finish to the year with FY24 Q4 New ARR in the range of $2.0-2.5m and Project Sales in the range of $1.8-2.3m. Envirosuite's pipeline growth across its focus sectors is well supported by global macroeconomic drivers around ESG, the Environmental Justice social movement in the USA, and environmental and social responsibility. The Company remains funded to pursue sustainable growth in its focus sectors, with no plans to raise further capital to fund organic growth.