Visionflex Group trading update

Visionflex Group Limited (ASX: $VFX) is on track to deliver unaudited revenue exceeding $8.1 million in FY24, marking a 25% increase from FY23. The company's Visionflex business division anticipates revenue over $7.0 million, a substantial 177% rise from FY23. This follows the strategic exit from PetYeti and GoBookings, allowing the company to focus solely on Visionflex's high-growth potential.

Executive Commentary

Our selection by large enterprise customers continues to demonstrate our value as innovative and trusted partners in the transition to virtual healthcare. With an estimated $112 billion in government healthcare funding for 2024-2025, we are well-positioned to leverage key opportunities for substantial growth. We are confident in our strategic direction and well-positioned to capitalize on emerging opportunities in the healthcare sector.

Summary

Visionflex Group Limited (ASX: $VFX) anticipates a strong performance in FY24, with unaudited revenue projected to exceed $8.1 million, representing a 25% increase from FY23. The strategic exit from PetYeti and GoBookings has allowed the company to concentrate its resources on Visionflex's high-growth potential. The company aims to achieve EBITDA positive in FY25, focusing on accelerating large enterprise sales in core verticals such as aged care, hospitals, indigenous healthcare, and in-home care. With the estimated $112 billion in government healthcare funding for 2024-2025, Visionflex is well-positioned to capitalize on substantial growth opportunities in the healthcare sector.