Kinatico's FY24 Financial Performance

Kinatico Limited (ASX: $KYP) has reported a significant increase in profit for the 2024 financial year, reaching $0.8m, marking a 225% rise from the previous year. The company's Software-as-a-Service (SaaS) revenue also experienced substantial growth, reaching $9.7m, a 90% increase from the prior year. Kinatico's total revenue for FY24 amounted to $28.7m, with SaaS revenue contributing 34% to the total.

Executive Commentary on FY24 Performance

These results reaffirm that Kinatico's vision of becoming a provider of simplified daily compliance is resonating with our chosen markets, and that our combined efforts to transform the business towards that clear goal are delivering results. In the ongoing uncertainty of this macro-economic environment in which we find ourselves, Kinatico has once again grown revenue and increased our booked SaaS revenue at an impressive rate independent of seasonal or employment market impacts. I want to thank all Kinatico staff for their valued commitment to our common goal.

Summary of FY24 Results and Outlook

Kinatico Limited (ASX: $KYP) has demonstrated a remarkable performance in FY24, with a substantial increase in profit driven by the significant growth in Software-as-a-Service (SaaS) revenue. The company's strategic shift towards providing simplified daily compliance management through SaaS has proven to be successful, as evidenced by the impressive financial results. With the SaaS revenue accounting for 34% of the total revenue, Kinatico is well-positioned to capitalize on the growing demand for compliance management solutions. The company's CEO, Michael Ivanchenko, expressed confidence in the company's direction and acknowledged the dedication of the Kinatico staff. As Kinatico prepares to release its annual report, the outlook for the company appears positive, reflecting its ambitions for global expansion and the continued growth of its suite of RegTech solutions.