Beam Communications Reports Shift to Recurring Revenue

Beam Communications Holdings Limited (AU:BCC) has released an update.

Beam Communications Holdings Limited reported a revenue dip of 17% in FY24, with hardware sales down but a significant 67% increase in recurring revenue and a steady gross margin of 30%. Despite a 27% drop in EBITDA and a net loss, Beam maintained positive free cash flow and is focusing on growing high-margin recurring revenue while managing cost pressures. The outcome of the ongoing ZOLEO arbitration could notably impact the company’s future.

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