Technology company, K2fly Limited (ASX: K2F) has announced its Q4FY20 operational update. The company saw its invoices increase by 28 per cent as compared to Q4 FY19. The cash flow from the operations remained positive at AUD 0.66 million.
Despite the challenging environment due to the pandemic, K2F managed to sign new contracts with significant clients. It has inked a five-year agreement with Orano SA for its RCubed solutions. New clients added during Q4 are- South32, Sibelco, Kinross Gold, and Orano. In this quarter, K2F’s SaaS annual recurring revenue has grown to ~AUD 2.36 million and total contract value for SaaS contracts is at ~AUD 7.47 million.
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