Qoria Limited (ASX: $QOR) H1 FY24 financial report highlights

Qoria Limited (ASX: $QOR) has reported a total revenue and other income of $48,782,973 for the period ended 31 December 2023, with revenue from ordinary activities being $48,479,032. The net loss attributable to members of the Group for the same period amounted to $32,781,919. The Group experienced a positive operating cash flow of $9 million and achieved an Annual Recurring Revenue (ARR) of $106 million with a 26% increase in ARR year-on-year.

Executive commentary on H1 FY24 performance

Qoria is focused on cyber safety and has developed a unique ecosystem-based approach to deliver cyber safety settings, advice, and support across any network and device. The Group's operations have focused on sales, marketing, and customer support of its suite of cyber safety products and services. The Group aims to achieve scale and operating leverage in the provision of online safety tools and advice, targeting the United States, United Kingdom, and European markets, as well as local markets in Australia and New Zealand. The Group's three-year goal is to be the largest and most impactful safety and wellbeing provider globally.

Outlook and future plans

Qoria's financial report for H1 FY24 reflects its focus on cyber safety and its efforts to achieve scale and operating leverage in the provision of online safety tools and advice. The Group aims to maintain a positive operating cash flow and target cash EBITDA profitability in 2024. Qoria's future plans include ongoing unification programs, product expansion, and market expansion to leverage its global education and telecommunication service provider partnerships. The Group is well positioned to continue its growth through key markets and through the cross-sell of additional products within education and the Qustodio consumer product to its existing students.