Schrole Group Ltd. (AU:SCL) has released an update.
Schrole Group Ltd reported strong first quarter results for 2024, with an 8% growth in Annual Recurring Revenue (ARR) to $4.2m and a significant 24% increase in customer cash receipts to $1.6m. The company’s strategic shift from development to sales has yielded positive operating cash flow of $135,000 and brought them close to free cash flow breakeven, showing a substantial 87% improvement from the same period last year. With the majority of SaaS revenues coming from international schools, Schrole’s financial position appears robust, boasting a solid cash reserve of $1.2 million and no debt.
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