Spenda achieves record quarterly cash receipts of $3.57 million
ASX-listed Spenda Limited, an innovative software company with an integrated set of capabilities that enable trading networks to buy, sell, and pay more efficiently, have released its Quarterly Activities and Cash Flow report for the quarter ended 31 December 2024 (Q2 FY25).
Spenda achieved another record $3.57 million in cash receipts from customers during Q2 FY25. The result is an increase of 160% on Q2 FY24 and an increase of 86% on Q1 FY25. More importantly, cash receipts of $5.49 million for the half year ended December 31, 2024, have surpassed total cash receipts collected in FY2024 ($5.4 million). The company expects to continue to build on its strong start to FY2025.
Payment Volumes of $138 million up 116% up from $64 million in Q2 FY24. Cash and cash equivalent was $7.2 million as at 31 December 2024 (up from $6.5 million as at 30 September 2024).
The primary drivers of the Spenda’s earnings growth are the continued roll out in contracted programs with Capricorn DSD and Swift Statement, Carpet Court SOE, and several other channels delivering multiple recurring income streams.
Spenda’s GM of Corporate Development, Francis de Souza said, “In the past quarter, the Company has focused on initiatives aimed at closing the revenue / operating cost gap as the Company marches towards breakeven and then EBITDA positivity. We are pleased to demonstrate that our initiatives over the last 18 month have put breakeven firmly within reach. Successful execution of the existing programs of work will further reinforce the upward trajectory of the Company, allowing us to broaden our customer network focus into other verticals. We look forward to continuing to report on our progress in a manner that better captures the Company’s key success milestones.”
Spenda Managing Director, Adrian Floate (pictured), said, “The December quarter was satisfying for the team as we saw our strategy start to deliver meaningful revenue across the product portfolio. Most pleasingly, our channel strategy has started to deliver ROI for our customers whilst delivering increased wallet share to the Company as we displaced manual processes and disparate systems.
“Short term delivery on current projects will further assist in closing the EBITDA gap and transform us from cash-burner to cash-earner. Maintainable earnings are a function of continuing successful execution of our strategy. As the Company is able to generate multiple incomes streams and increase ARPU from each Customer channel, we look to 2025 as a year of consolidation and growth from the business we have built.
“I recognise this strategy has taken longer than expected to execute, but we are very pleased to see successful delivery of the vision into multiple channels that are translating into meaningful revenue growth. We are excited by what the future holds for us as a business and for you all as shareholders.”
