Novatti Group Ltd. (AU:NOV) has released an update.
Novatti Group Ltd., a fintech company, reports a significant improvement in their financial performance with a 41% decrease in quarterly cash use and a 19% increase in annual revenue to $46.5m. The company has implemented strategic cost reductions, including a $4m annualised cost cut, and is on track for further expense removals and positive cash flow by H1 FY25. This transformation strategy has also yielded a 23% year-on-year increase in Q4 revenue, indicating robust growth and operational efficiency.
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