Gooroo Ventures Limited (ASX: GOO), a company from the software and services sector which is into the business of providing global technology solutions and strategic advice to transform the way people, organizations and communities make decisions about the future announced its 20% increase in the revenue growth in Q2 FY2019. The estimation of the company states that in the December quarter, their revenue increased by 20%. Based on the comparative analysis as per the previous corresponding year, the company revenue is above 385%.
Based on its recent agreement with PeoplePlus, Davidson and Catalyst Group along with the strong growth the existing pipeline of the significant deals across the globe has built confidence within the company to deliver continuous growth in the upcoming quarters.
Other than this, the company always tries to maintain a healthy, long-term, strategic partnership with the leading consultancies, service providers and technology platforms which helps Gooroo technology to sell and implement its technologies. Through its strategies, the company can expand and scale its opportunities, and it expects that within 12 months to 18 months period, it’s revenue will increase with an increase in the gross margins.
The official listing of Gooroo Ventures Limited on ASX is 19 October 2016, where the performance of the company was consistently negative till last one year. However, its YTD performance was 10.42%.
For the financial year 2018, which ended on 30 June 2018, Gooroo Ventures Limited made a net loss of $3,235,500. The balance sheet of Gooroo Ventures Limited appears healthy with a strong net asset base of $2,612,640 and a debt-equity ratio of 0.134 which indicates that the company is financially sound to meet its long-term obligations. A lower debt to equity ratio means that during the period the company used its resources and assets in case of financial requirement. GOO has a total current asset of $1,893,725 and a total current liabilities of $352,202 which says that the company can efficiently handle its working capital requirements and can also clear its short-term debts. However, as compared to the previous financial year, the accumulated losses got almost doubled in FY2018 which indicates a weak operating performance and is also a reason to worry as it might create a negative influence on the shareholders and the investors of the company. The total shareholder’s equity is worth $2,612,640.
As a result of an increase in the payment to suppliers and the employees, there was a decrease in the net cash and cash equivalent in FY2018. The net cash and cash equivalent by the end of the financial year 2018 were $1,511,341.
Although the financial year 2018 performance was not up to the mark, however, based on the historical sales revenue analysis of past five quarters, its agreement with various companies and its next 12-18 months outlook might have created a positive influence on the shareholders and the investors of the company. By the end of the trading on 15 January 2019, the closing price of the share was A$0.055 which is 0.002 points above its previous trading day’s closing price. The stock has a market capitalization of A$5.18 million.
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