essensys PLC (GB:ESYS) has released an update.
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essensys PLC, a global software provider for the flexible workspace industry, reported a 9% decrease in revenue and a significant improvement in their statutory loss before tax, which was reduced by 61% for the first half of the 2024 fiscal year. Despite a challenging economic climate and decreased non-recurring revenue, the company achieved £8m in cost savings and remains debt-free with a net cash position of £3.5m. essensys is on track for positive adjusted EBITDA and cash generation by FY25, driven by a focus on strategic customers and operational efficiency.
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