Wrkr Ltd (ASX: $WRK) Quarterly Activity Report

Wrkr Ltd (ASX: $WRK) has released its Quarterly Activity Report and Appendix 4C (Quarterly Cash Flow report) for the quarter ending 31 December 2023. The report highlights a 24% increase in H1 FY24 cash receipts from customers compared to the previous corresponding period (pcp), reaching $1.91m. Additionally, unaudited revenue surged by 44% on pcp, amounting to $3.88m for H1 FY24.

Executive Commentary on H1 FY24 Performance

Wrkr's Chief Executive Officer, Trent Lund, and Chief Financial Officer, Karen Gilmour, will host an investor webinar to discuss the quarterly reports at 10am (AEDT) Thursday 1 February. The company's strong financial performance in H1 FY24 is evident from the 24% increase in cash receipts from customers and the 44% surge in unaudited revenue compared to the previous corresponding period. The company's strategic investments in resources for the Link Group build and Wrkr Platform, as well as engagement of Transmit Security, have contributed to the improvement in the cost to income ratio over the past 2 years. Looking ahead, Wrkr remains focused on delivering product improvements, deploying the Link Group build of the Wrkr Platform, and supporting client implementations of Workday with new API for Bank, Tax, and Super onboarding.

Wrkr's Outlook and Financial Measures

Wrkr's H1 FY24 financial performance reflects a robust growth trajectory with significant increases in cash receipts from customers and unaudited revenue. The company's focus on improving the cost to income ratio and strategic investments in resources and security enhancements have positioned it for continued success. Looking forward, Wrkr aims to conclude designs for product improvements, continue deployment of the Link Group build of the Wrkr Platform, and deliver solutions for the Rest Super deployment and Hong Kong implementations. The company's proactive approach to market collaboration and increasing inbound enquiries across its products bodes well for its future prospects. Wrkr's adherence to non-IFRS financial measures and compliance with accounting standards underpin its commitment to transparency and accuracy in reporting.