Keypath Education International, Inc. (ASX: $KED) H1 FY24 Results

Keypath Education International, Inc. (ASX: $KED) has released its Appendix 4D for the half-year ended December 31, 2023, reporting strong revenue growth and profitability. The H1 FY24 revenue of US$66.9 million marks a 14.0% increase from H1 FY23, with Healthcare revenue reaching US$40.0 million, a 27.8% rise from the previous year. The company's Adjusted EBITDA also improved significantly, leading to a strong cash position of US$41.7 million as of December 31, 2023.

Executive Commentary on H1 FY24 Results

Keypath's Founder and CEO, Steve Fireng, expressed satisfaction with the company's progress in FY24, highlighting the strong revenue and Adjusted EBITDA growth in H1 FY24. He emphasized the strategic focus on Healthcare in the U.S. and the APAC region, driving confidence in revenue growth and continued profitability improvements. Fireng also noted the significant improvement in contribution margin and the progress in building a global Healthcare platform, expecting future vintages to achieve US$25 million - US$35 million in revenue at maturity.

Summary of H1 FY24 Results and Outlook

Keypath Education International, Inc. has demonstrated robust performance in H1 FY24, with strong revenue growth, improved contribution margin, and raised Adjusted EBITDA guidance. The company's strategic focus on Healthcare and the APAC region is expected to drive long-term sustainable and profitable growth. With a strong cash position and positive business momentum, Keypath aims to reach the upper end of its FY24 revenue guidance and raise its Adjusted EBITDA guidance. The release of Form 10 reflects the company's commitment to regulatory compliance and potential future flexibility in accessing a broader range of investors. Keypath remains confident in its ability to deliver long-term sustainable revenue growth and drive continued improvements in positive Adjusted EBITDA into FY25.