EP&T Global Limited (ASX: $EPX) Quarterly Activity Report Highlights

EP&T Global Limited (ASX: $EPX) has released its quarterly activity report and Appendix 4C for the quarter ending 31 March 2024. The company reported a 41% increase in cash receipts for Year to Date (YTD) March 2024 compared to the prior corresponding period. The operating cash flow for YTD March 2024 showed a $2.9m net operating cash inflow improvement compared to YTD March 2023. EPX also successfully completed a capital raising in February 2024, with net proceeds received of $2.5m in the March quarter.

Executive Commentary on Quarterly Performance

Patrick Harsas, CFO, expressed satisfaction with EPX's transformation over the past 12 months. He noted that although this quarter's cash receipts were lower than expected, customer billings remained steady, indicating potential for continued growth in cash receipts as more ARR comes on stream. Harsas also highlighted the effective management of costs within the parameters set by management while the business continues to deliver on ARR.

Summary of EP&T Global's Quarterly Performance and Outlook

EP&T Global Limited (ASX: $EPX) reported a significant 41% increase in cash receipts for YTD March 2024 compared to the prior corresponding period, demonstrating positive momentum in its financial performance. The company maintained a positive operating cash flow for the year to date, despite a net operating cash flow of ($0.5m) in the March 2024 quarter, attributed to delays in collections from the Middle East region and non-recurring costs. The successful capital raising in February 2024 provided net proceeds of $2.5m, which will be predominantly applied toward revenue growth investments. EPX's commitment to managing costs and delivering on Annual Recurring Revenue (ARR) reflects its strategic focus on sustainable growth. With a strong emphasis on energy efficiency and data-driven solutions, EP&T Global remains well-positioned to capitalize on opportunities for further expansion and continued financial improvement.