RAS Technology (RTH) H2 2024 earnings summary

Executive summary

• Achieved record FY24 revenue of $16.2 million, up 38% year-over-year, and first net profit before tax since listing.

• Annual recurring revenue reached $18.9 million, up 43% year-over-year.

• Signed landmark deals with Stake.com and Playbook Engineering, expanding global reach.

• Strong operational momentum with new and extended contracts across major industry players.

• Positioned for continued success with a strategic focus on core product areas and international market momentum.

Financial highlights

• Group revenue reached $16.2 million, up 38% year-over-year.

• EBITDA was $1.9 million, an increase of $1.7 million from the prior year.

• Annual recurring revenue (ARR) grew 43% to $18.9 million.

• Net profit before tax was $187,000, the first positive result since listing.

• Cash flow from operations was $2.3 million, up from $64,000 year-over-year.

Outlook and guidance

• Well positioned for robust revenue and profit growth in FY25 after a strong FY24 finish.

• Strategic partnership with Waterhouse VC expected to accelerate global growth.

• Major opportunities identified in the UK, Europe, and other international markets.

• Recent agreements with Pragmatic Play and Pointsbet expected to drive further global expansion.

• Record pipeline of business opportunities and plans for strategic acquisitions to increase scale.