Knosys Limited is pleased to announce a profitable result for the second half of the 2018 financial year and a 225% increase in revenue for the full financial year. This announcement continues the growth and success of this Melbourne-based knowledge management software company.
CEO John Thompson said, “The 2018 financial year has been very positive for Knosys with excellent revenue growth. Licence fee growth and project implementation revenues in the second half of the year led to our first profitable half year since the formation of the group and our listing on ASX in 2015. I am very pleased with the achievements of the Company and our team.”
Key financial and business metrics have been significantly improved in line with the Board’s plans. The Company had net assets of:
- Cash on hand of $1.1m and;
- $1.8m at 30 June 2018 and;
- The licensed user base of the Knosys product increasing by 80+% to over 29,900 by the end of 2018, with the commencement of invoicing of monthly licence fees for the new Optus contract.
“The financial position of the business improved strongly during 2018 and, with the completion of the non-renounceable rights issue in August, we now have a cash balance in excess of $3m," stated Mr Thompson, “Our recurring revenues are now tracking at over $200,000 per month and this, together with our cash position means we are really well placed to pursue our goals for this coming year.”
With the continued expansion of the market and the adoption of knowledge management and business process technology across many industries, Knosys is well placed to expand its customer base and add to its offerings through internal developments and acquisition of technologies. Whilst sales and marketing efforts are focused on direct initiatives, Knosys is also planning further developments that will allow greater partnership opportunities with global software vendors to address local and international opportunities going forward.
For further information
Knosys reports profitable 2nd half and 225% increase in full year revenue (ASX Announcement)
Contact: John Thompson, CEO, Knosys Limited
T: +61 3 9046 9700