Ava Risk Group Ltd. (AU:AVA) has released an update.
Ava Risk Group Ltd. reported an increase in sales order intake to $35.3 million, up 14% from the previous comparative period, with revenues rising by 5.6% to $30.2 million for the FY24. Despite significant investments in technology and commercial capabilities leading to a temporary underlying EBITDA loss of $0.9 million, the company secured major supply agreements, including with Telstra Group, and ended the year with a solid cash balance of $5.1 million. The financial year saw a positive shift in the second half, with the company poised for further growth in FY25.
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