Primech Holdings (PMEC) Q4 2024 earnings summary

Executive summary

• Revenue increased to S$97.5 million for the year ended 31 March 2024, up from S$94.7 million year-over-year.

• Gross profit rose to S$17.0 million from S$14.6 million year-over-year.

• Loss for the year widened to S$6.45 million compared to S$2.47 million in the prior year.

• The company completed a NASDAQ listing in October 2023, raising S$13.5 million in new share capital.

Financial highlights

• Revenue: S$97.5 million (up 3% year-over-year).

• Gross profit: S$17.0 million (up 16% year-over-year).

• Loss before tax: S$6.51 million (vs. S$2.49 million loss prior year).

• Net cash used in operating activities: S$7.95 million (vs. S$1.31 million prior year).

• Cash and cash equivalents at year-end: S$82,921 (vs. negative S$544,855 prior year).

Outlook and guidance

• Unsatisfied and partially unsatisfied performance obligations at year-end totaled S$194.6 million, indicating a strong pipeline for future revenue recognition.