Objective Corporation Limited (AU:OCL) has released an update.
Objective Corporation Limited celebrated a year of significant milestones in FY2024, transitioning to a subscription-only software business with an 81% recurring revenue driving its $118 million revenue. The company’s commitment to innovation and quality resulted in a 49% increase in profitability and a 78% surge in operating cashflow, although its total Annual Recurring Revenue (ARR) growth of 11% fell slightly short of the targeted 15%. These results underscore Objective’s position as a strong player in the digital government solutions market, with sustained investments in research and development promising continued growth.
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