Global Invacom Group (QS9) H2 2023 earnings summary

Executive summary

• FY2023 revenue was $64.4 million; gross profit rose 18.2% to $15.9 million and net loss narrowed to $1.0 million.

• Strategic review advanced through AIM delisting, North American manufacturing changes, added engineering resources, and continued development of integrated platform solutions.

Financial highlights

• Revenue was $64.4 million in FY2023 versus $72.8 million in FY2022.

• Gross profit increased 18.2% to $15.9 million from $13.4 million.

• Net loss narrowed to $1.0 million from $15.5 million in FY2022.

Outlook and guidance

• Strategic review will continue, assessing corporate and operational structure, growth opportunities, routes to market, and the cost base.

• Priorities include further simplification, removal of duplicated costs, and investment in product development and software-defined solutions.

• Developing integrated platform solutions for Gateway and User Terminal applications, combining antenna, transceiver, and tracking capabilities.

• Medium-term Satcom ground-equipment demand is expected to remain robust; New Space models are expected to support long-term growth despite launch delays.