Kinatico Q3 FY24 trading update

Kinatico Limited (ASX: $KYP) has reported a significant increase in its Software as a Service (SaaS) revenue for the third quarter of the 2024 financial year. The company's SaaS revenue for the quarter reached $2.5 million, marking a substantial 73% rise from the prior corresponding period. The total revenue for the quarter amounted to $7.0 million.

Executive commentary on Q3 FY24 performance

The vision of making Kinatico a provider of simplified daily compliance is continuing to deliver results. Once again, Kinatico has demonstrated an ability to increase our booked SaaS revenue at an impressive rate independent of seasonal or employment market impacts. This is further proof, if more were needed, of the success of the Company's ongoing transition from background screening to delivery of monitored compliance software. I am looking forward to providing a more detailed review of the year and our quarterly performance in next week's webinar.

Summary of Kinatico's Q3 FY24 performance

Kinatico Limited (ASX: $KYP) has shown remarkable growth in its Software as a Service (SaaS) revenue, reaching $2.5 million for the third quarter of the 2024 financial year, signifying a substantial 73% increase from the prior corresponding period. The company's total revenue for the quarter amounted to $7.0 million. The upcoming investor webinar is expected to provide further insight into the quarter's performance and the company's plans for the future. Kinatico's CEO, Michael Ivanchenko, expressed satisfaction with the company's progress, emphasizing the success of the transition from background screening to monitored compliance software. The company continues to position itself as a leading provider of 'know your people' solutions internationally, with a focus on global expansion of its suite of RegTech solutions.