Autocount Dotcom Berhad (ADB) Q2 2024 earnings summary

Executive summary

• Revenue for Q2 2024 rose 53.17% year-over-year to RM13.51 million, driven by strong growth in financial management software distribution.

• Profit before tax increased 84.65% year-over-year to RM5.98 million, with a PBT margin of 44.25%.

• Malaysia contributed 86.49% of total revenue, with Singapore as the main overseas market.

Financial highlights

• Cumulative revenue for the first half of 2024 was RM27.18 million, up 41.27% year-over-year.

• Cumulative profit after tax reached RM8.59 million, up from RM6.01 million a year ago.

• Basic and diluted EPS for Q2 2024 was 0.82 sen, up from 0.43 sen in Q2 2023.

• Net assets per share increased to RM0.11 as of 30 June 2024.

Outlook and guidance

• The industry is expected to sustain growth, supported by digitalisation trends and government initiatives in Malaysia and the region.

• Regional expansion and innovation are strategic priorities, with IPO proceeds allocated for these initiatives.

• The e-invoicing initiative implemented on 1 August 2024 is anticipated to drive further software demand.