Alcidion Group Limited (AU:ALC) has released an update.
Alcidion Group Limited reported a mixed financial year for FY24, with revenues at $37.1M, an 8% decrease from the previous year, but a slight increase in annual recurring product revenue by 6%. Despite an EBITDA loss, the company achieved a second-half turnaround with positive operating cashflow and cost savings, positioning it for a stronger FY25. Key milestones included significant new contracts, expected revenue growth, and a debt-free cash balance of $11.8M.
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