Serko (SKO) AGM 2024 summary

Opening remarks and agenda

• Chair welcomed shareholders, outlined meeting logistics, and confirmed quorum requirements were met.

• Notice of meeting was sent on 28 May 2024, and voting procedures for both in-person and online attendees were explained.

• Agenda included performance review, strategic priorities, Q&A, and formal business with resolutions.

Financial performance review

• FY24 total income reached NZD 71.2 million, up 48% from FY23.

• Underlying average monthly cash burn reduced to NZD 600,000, a 78% improvement.

• Cash on hand as of 31 March 2024 was NZD 80.6 million, with no debt.

• Operational leverage improved, with net loss after tax and EBITDA both showing significant gains.

• Employee engagement increased from 72% to 78%.

Board and executive committee updates

• Board welcomed Sean Gourley as a new non-executive director, bringing expertise in data and AI.

• Executive team expanded with new roles: Chief Product Officer and Chief Revenue Officer in FY24.

• Focus on succession planning, performance management, and talent growth.