iSentric Registers $6.4Mn in FY20 Revenue, Expenses Down by 52%

iSentric Limited (ASX:ICU), an advanced fintech and digital commerce software and services provider, has unveiled its preliminary final report for the period ended 30 June 2020 and important subsequent events.

Following are some of FY20 highlights:

  • Revenue from ordinary activities stood at AU$6,445,109.
  • Expenses noted a significant decline of 52% to AU$4,149,226.
  • Cash flow for FY20 was steady and the Company raised AU$409,477 in July 2020 post a series of capital raisings.

Additionally, the Company sharpened its focus on core fintech business divisions of Mobile Banking and Digital Payments across Malaysia and Indonesia. ICU also highlighted important changes in the board and senior executive teams, rebranding of its mobile banking and payment processing platform to the IOU Pay Platform, and the renaming to IOU Pay (Asia) Sdn Bhd from Isentric Wireless Sdn Bhd.

Notably, the Company’s Extraordinary General Meeting of Shareholders is scheduled for 30 September 2020.

On 1 September 2020, ICU was trading at AU$0.073 at AEST (12:45 PM).

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