IODM (IOD) Q4 2024 TU earnings summary

Executive summary

• Q4 FY24 cash receipts reached A$512k, up 26% year-over-year, with UK receipts at A$307k, up 72% due to a new Convera agreement.

• Annual cash receipts totaled A$2.06m, a 71% increase from the previous year.

• Presentations to US, Canadian, and Japanese educational institutions signal ongoing global expansion efforts.

• CEO highlighted strong UK growth and anticipated further gains from newly onboarded universities and global pipeline.

Financial highlights

• Q4 FY24 UK revenue was A$301k, up 77% year-over-year, driven by the Convera revenue share agreement.

• Net cash used in operating activities for Q4 was A$810k; for the year, A$2.45m.

• Cash and cash equivalents at quarter end were A$280k, down from A$837k in the previous quarter.

• Government grants and tax incentives contributed A$25k in Q4 and A$675k for the year.

Outlook and guidance

• Four new UK universities onboarded, expected to boost receipts and revenue in the coming academic year.

• Company expects increased domestic signings and continued elevated demand from enterprise clients.

• Anticipates further growth in North America and Japan as presentations progress.

• Expects an increase in cash receipts and revenue following new UK university onboardings.