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- LiveTiles (LVT) sees an 11 per cent drop in cash receipts to $12.9 million, compared to the prior corresponding period
- The software company says around $1.7 million in customer receipts were due by June 30 that were delayed and not received by this time
- Net operating cashflows were down to $2.3 million with the June quarter result impacted by the delayed customer cash receipts
- Unaudited operating revenues for FY22 totalled $52.8 million, up 17 per cent from FY21, with the increase due to a strong performance in software subscriptions
- LVT shares are down 25.9 per cent on the market, trading at 6.3 cents each at 12:37 pm AEST
Digital workplace software company LiveTiles (LVT) has dropped on the market after releasing its FY22 fourth-quarter report.
The company has reported an 11 per cent decline in cash receipts to $12.9 million, compared to the fourth quarter of FY21.
Around $1.7 million in customer receipts that were due by June 30 were delayed and not received by this time.
Net operating cashflows were down to $2.3 million with the June quarter result impacted by the delayed customer cash receipts.
At the end of the period, LiveTiles had about $13.1 million cash on hand, with a further $4 million in funds still remaining available to drawdown from the OneVentures debt facility.
Unaudited operating revenues for FY22 totalled $52.8 million, up 17 per cent from FY21, with the increase due to a strong performance in software subscriptions.
Contracted user licences were up 20 per cent to 2.78 million, compared to this time last year.
“The June quarter marks one of strong operational achievements with the completion of integration of The Human Link and the formal launch of our Employee Experience Academy,” Co-Founder and CEO Karl Redenbach said.
“These milestones represent a great opportunity for us to further expand our global footprint and lay the foundations for continued commercial growth through expanded distribution of our proprietary products globally.
“We remain confident LiveTiles is well positioned to consolidate its place as a leader in the Employee Experience market and continue to deliver growth through the next 12 months.”
LVT shares were down 25.9 per cent on the market, trading at 6.3 cents each at 12:37 pm AEST.
