Credit Clear achieves profitability and record revenue of $3 million in May 2022

Australian receivables management solution provider Credit Clear has announced that it achieved operational profitability in May, following a record month of $3.03 million in revenue and an ongoing disciplined approach to increasing its investment in technology and client success resources.

The profitability milestone was delivered two months ahead of the indicative forecast timing of July 2022. With operational profitability, a strong balance sheet following the $7.5 million capital raise conducted in June at $0.43 per share, and an economic environment where the cost of living is increasing at a rate well ahead of wage growth, Credit Clear is well positioned to continue delivering accelerated growth into FY2023.

Andrew Smith, Credit Clear CEO, said, “In 2022 Credit Clear has positioned itself to lead the market as an end-to-end credit management company. We’ve done this by providing a ‘best-of-both’ offering that sees award-winning AI technology combined with an experience-led and customer centric service offering. The uplift in performance produced for our clients has been quantifiably proven in recent case studies and is contributing towards greater referral volumes from existing clients, and an influx of new clients that we have signed in the past few months.

“We exit the 2022 financial year as a profitable market-leading company and our intention is to reinvest profits for growth. With a strong cash balance and an increasingly supportive economic environment Credit Clear is positioned to deliver strong growth across every business unit in FY2023.”