EP&T Global H1 FY24 Results Overview

EP&T Global Limited (ASX: $EPX) has announced the release of its half year results for the period ended 31 December 2023. The company reported a 29% increase in statutory revenue to $6.5m, with recurring revenue accounting for over 90% of the total revenue. The underlying EBITDA loss reduced by 76% to ($0.5m) compared to the prior corresponding period. EP&T also achieved positive operating cash flow of $0.6m, marking a $3.2m improvement over the prior period. The total cash on hand at 31 December 2023 was $0.7m, and the contracted buildings increased by 8% to 531.

EP&T Global Executive Commentary

The results for the half year to 31 December 2023 are a significant improvement over the prior corresponding period and prime EP&T for continued success. What we have accomplished over the last 12 months is a testament to the focus and dedication of the team. Looking forward, the nature of EP&T's data as a service business continues to be in demand by existing and new customers. With a strong pipeline of opportunities, we are now focused on driving revenue growth. Initiatives are being rolled out to target improvements in sales lead times and include enhanced productization to better align to our customers net zero and ESG ambitions. The successful February 2024 capital raise will also allow EP&T to pursue greater ACV growth with our existing customers as they work with us to optimize their portfolios around the world.

EP&T Global H1 FY24 Results Summary

EP&T Global (ASX: $EPX) has reported a 29% increase in statutory revenue to $6.5m for the half year to 31 December 2023, driven by growth in the Company's subscription-based, data-as-a-service revenue model. The recurring revenue, which now accounts for over 90% of total revenue, increased by 37% to $5.9m. The underlying EBITDA loss decreased by 76% to ($0.5m), reflecting the revenue growth and operational efficiencies implemented during the period. EP&T achieved positive operating cash flow of $0.6m, marking a $3.2m improvement over the prior period. With a strong pipeline of opportunities, the company is focused on driving revenue growth and targeting improvements in sales lead times, along with enhanced productization to align with customers' net zero and ESG ambitions. The successful capital raise in February 2024 will enable EP&T to pursue greater ACV growth with existing customers as they optimize their portfolios globally.