Bigtincan (BTH) AGM 2024 summary

Opening remarks and agenda

• Meeting opened with confirmation of quorum, introduction of board, management, auditors, and legal representatives, and addresses from Chair Tom Amos and CEO David Keane outlining the agenda and strategic direction.

• AGM held as a hybrid meeting, with voting available both in person and online via Computershare.

• The agenda included chairman's address, CEO update, formal business, Q&A session, and closing remarks.

Financial performance review

• FY24 revenue was $117.1 million, with a record EBITDA of $11.3 million, a turnaround from a $4.9 million loss in FY23.

• Adjusted EBITDA for FY24 was $16.2 million, with operating cash flow of $6.2 million and $5 million free cash flow in H2.

• Gross margin stood at 88%, and the cash balance was $31.4 million as of 30 June 2024.

• Revenue declined slightly due to macroeconomic conditions, but operational efficiency and profitability improved.

• Focus on sustainable EBITDA and transition to a cash flow positive business.

Board and executive committee updates

• Inese Kingsmill retired from the board at the conclusion of the meeting after three years of service.

• Board acted actively and transparently in response to multiple change of control proposals.

• Board composition and committee roles were reviewed, with new director elections on the agenda.