IODM Ltd. (AU:IOD) has released an update.
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IODM Ltd. has reported a significant increase in quarterly cash receipts, rising to A$512k, a 26% boost compared to the previous year, largely due to a lucrative new agreement with Convera for the UK education sector, resulting in a 77% jump in UK revenue. The company has also expanded its market reach, onboarding four additional UK universities and initiating presentations to North American educational institutions, indicating a potential for further growth. Despite a traditionally quiet period, the company’s performance exceeded expectations, suggesting a strong outlook for future revenue and receipts.
For further insights into AU:IOD stock, check out TipRanks’ Stock Analysis page.