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- Cirralto (CRO) is releasing its latest quarterly financial update, revealing it ended September with just under $400,000 in customer receipts
- The fintech stock ended Q1 FY22 cashflow negative after spending $2.7 million on operating activities, with most of those costs related to staff wages
- CRO had $18.97 million worth of cash in the bank heading in to the December period, enough money to keep it running for another 7 quarters of growth
- In comparison, the payments business brought in $154,000 in receipts in Q1 FY22, and ended the period cashflow negative with just $1.97 million in cash
- Cirralto shares are down 6.35 per cent to trade at 5.9 cents each
Cirralto (CRO) has released its latest quarterly financial update, revealing it ended September with just under $400,000 in customer receipts.
The fintech stock, which supplies transaction services for businesses and owns the Spenda platform, reported $396,000 worth of receipts at the end of Q1 FY22.
That figure is an increase on the previous year’s results, where the company notched up $154,000 in sales during Q1 FY21.
CRO ended September cashflow negative after spending $2.7 million on operating activities, with most of those costs related to staff wages and corporate costs.
It had $18.97 million worth of cash in the bank heading into the December period, enough money to keep it running for another 7 quarters of growth if its rate of spend stays the same.
The company’s bank balance is higher than its previous total at the end of Q1 FY21, when CRO had just $1.97 million worth of cash stashed away.
However, the business entered September with more cash on hand, ending the 2021 financial year with $21.4 million in the bank.
Cirralto also had access to $5.5 million in finance at the end of September 30 but signalled that it plans to repay almost $1 million back to current Mezzanine holders during the December quarter.
Following the release of today’s 4C, CRO shares have dipped 6.35 per cent to trade at 5.9 cents per share at 11:18 am AEDT.
