K2fly Limited (AU:K2F) has released an update.
K2fly Limited reported a 19% year-over-year increase in Annual Recurring Revenue (ARR) to $8.3 million in Q3 FY2024, attributed to key contract renewals. Despite this growth, the company saw a revenue drop to $2.9 million due to the completion of previous implementation projects and a higher net operating cash outflow of $0.7 million. The post-quarter win of a Vale contract brought the ARR up to $8.8 million, signaling continued business expansion.
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