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IODM Limited (ASX:IOD)

ALERT: Price-sensitive ASX Announcement for IOD
Current share price for IOD : $0.140 -0.04 (-22.22%)+
Announcement
Release
31 Jul 2024 11:48AM
Price at Release
$0.180
Full Release
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Summary
IODM Limited released its Quarterly Activities Report and Appendix 4C for Q4 FY24 on 31 July 2024. Key highlights include a 26% increase in quarterly cash receipts to A$512k and a 71% increase in annual cash receipts to A$2.06m. The company's UK revenue grew significantly due to a new commercial agreement with Convera, which contributed to several positive financial metrics. Presentations have been made to educational institutions in the US, Canada, and Japan. Despite a traditional quiet period for payments in the UK education sector, the company saw strong cash receipts due to guaranteed minimum payments under the Convera agreement. IODM is currently undertaking a capital raising effort to support its operations and expects continued growth with the onboarding of additional universities.
Key Points
  • Quarterly cash receipts of A$512k, up 26% versus the previous corresponding period
  • UK cash receipts of A$307k, up 72% due to an agreement with Convera
  • Annual cash receipts increased 71% to A$2.06m
  • Several presentations to educational institutions in the US, Canada, and Japan
  • Strong cash receipts despite a quiet period for UK education sector
  • IODM is undertaking a capital raising effort
  • Onboarding of additional four universities in the UK
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.