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Highlights
- Whispir, today (26 October), released it cash flow and activity report for the quarter ending 30 September 2022.
- The company has reiterated the likelihood of positive EBITDA in FY23 second quarter.
- The company has AU$17.13 million cash on hand as on 30 September 2022.
Software and services firm Whispir Limited (ASX:WSP) today (26 October 2022) released its cash flow and activity report for the quarter ending 30 September 2022 (Q1 FY23).
Post the update, the shares of the company were spotted trading 17.948% lower at AU$0.640 apiece at 11:12 AM AEDT on the ASX.
Key Highlights from the September quarter:
- Whispir has stated that it has an ascending sales pipeline and the company has different strategic initiatives to boost growth opportunities.
- Whispir is anticipating an upbeat EBITDA in the second half of FY23.
- The company has AU$14.42 million in cash receipts, down 15.0% as compared to AU$16.96 million of previous quarter (Q4 FY22).
- Whispir has AU$17.13 million as cash on hand as on 30 September.
- The Annual Recurring Revenue (ARR) stands at AU$62.0 million.
Quarterly performance
As per the company, the result of this quarter has been affected by the reduction in COVID-19 related revenues as compared to the previous corresponding period (Q1 FY22). Whispir stated that its operational costs have stabilised at the lower run-rate established in the fourth quarter of FY22.
The Annual recurring revenue (ARR) of the company, at the end of the quarter is AU$62.0 million, down from AU$65.4 million (PQ). The fall in ARR is attributed to the ANZ region where Whispir’s transactional revenues from the state health departments have not continued at the rate the company had anticipated.
Whispir on cyber threats
Post a number of high-profile data breaches in Australia, Whispir stated that protecting customer data and the integrity of the platform is its top priority. The company said in its report that it is cautious of threats from phishing attacks against customers and its workforce and continues to monitor the evolving threat landscape.
Whispir said in its report that in telecommunications, ‘5G’ – being the fifth-generation technology standard for broadband cellular networks - presents many opportunities for Whispir. It stated that 5G is much more than just speed and that Whispir is well positioned to support 5G carriers and its customers.
