- Logistics software company Yojee’s (YOJ) December quarter revenue grew 58 per cent on the prior quarter to $531,000, up 160 per cent this time last year
- Over the quarter, the company’s cash receipts were up 56 per cent on the prior quarter to $346,000, a 47 per cent increase on the same quarter in the previous year
- Net cash from operating activities outflows reduced 3.6 per cent to $1.3 million
- Yojee has been focusing on investing in research and development, execution on expansion hubs and customer success
- Yojee is down 2.78 per cent and is trading at 17.5 cents per share
Logistics software company Yojee’s (YOJ) December quarter revenue grew 58 per cent on the prior quarter to $531,000, up 160 per cent this time last year.
Yojee’s platform facilitates the flow of freight movements into a single ecosystem, making the complex process of managing land transport simple and reduces carbon emissions.
Due to COVID-19, there has been a global acceleration in the digital world, providing strong tailwinds for Yojee which has seen a number of projects speed up.
Over the quarter, the company’s cash receipts were up 56 per cent on the prior quarter to $346,000, a 47 per cent increase on the same quarter in the previous year.
In terms of expenditure, net cash from operating activities outflows reduced 3.6 per cent to $1.3 million, Yojee has been focusing on investing in research and development, execution on expansion hubs and customer success.
This focus has led to efficient gains in areas such as time to deployment and go live across hubs, entrance into the European market and the successful proof of concept with a major enterprise of the Yojee ‘Smart Connected Warehouse’ product.
Yojee ended the quarter with a strong cash balance of $15.4 million.
Managing Director Ed Clarke said the company was able to “realise the incredible work it did in previous months to hasten rollouts and growth whilst building customer satisfaction through investment and execution on the product roadmap.”
“Last quarter I stated we see the results coming from our activity and strategy, and already this quarter we can see that happening, validating the company’s strategy and
exponential revenue growth capacity.”
“Notwithstanding ongoing covid effects, we continue to lead with innovation and customer centric decisions which has been reflected in our incredible revenue growth in the quarter. Yojee is significantly growing its revenue without significant reductions in its embedded growth potential.”
Yojee was down 2.78 per cent to 17.5 cents per share at 1:34 pm AEDT.