Qoria (QOR) Q4 2024 TU earnings summary

Executive summary

• Net cash used in operating activities for the quarter was $967,000, with year-to-date net cash from operations at $7.46 million.

• Cash and cash equivalents at quarter end were $9.39 million, down from $14.57 million at the start of the quarter.

Financial highlights

• Receipts from customers totaled $21.12 million for the quarter and $97.49 million year-to-date.

• Major cash outflows included staff costs ($13.12 million), product manufacturing and operating costs ($3.51 million), and advertising/marketing ($1.67 million) for the quarter.

• Net cash used in investing activities was $4.99 million for the quarter, primarily for property, plant, equipment, and development assets.

• Net cash from financing activities was $1.16 million for the quarter, with $2 million in new borrowings and $500,000 in lease liability repayments.

Capital allocation and financing

• Total financing facilities at quarter end were $40.15 million, fully drawn, with an agreement to extend by $10 million pending documentation.

• The main debt facility is secured, with a 5-year term and interest at BBSY + 8.75% per annum, allowing partial interest capitalization for the first 2 years.

• Other borrowings include insurance premium funding and minor facilities.