Prophecy International Holdings Ltd (AU:PRO) has released an update.
Prophecy International Holdings Ltd reports a 20% year-on-year increase in contracted annualized recurring revenue (ARR) to $27.6M, including significant contributions from new partnerships and customer acquisitions. The company has seen invoicing rise by 13% to $20.2M for the first nine months of FY24 and anticipates positive cash flow, boasting a strong net cash position of $11.3M with zero debt. High-profile customer wins and strategic partnerships, notably with Devo Technology, are expected to further boost ARR, with a promising outlook for the current fiscal year.
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