Yojee (ASX:YOJ) reports solid revenue growth in December quarter

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Yojee (ASX:YOJ) reports solid revenue growth in December quarter

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ASX YOJ, AS YOJ share price, Yojee quarter results
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Highlights

  • Yojee ended the December quarter with an AU$15.4 million solid cash position.
  • Despite COVID-19, the company enjoyed solid tailwinds for the last quarter. 

Shares of the ASX listed cloud-based SaaS logistics platform Yojee Limited (ASX:YOJ) have been grabbing attention after the company announced its December quarter results.

However, the scrip closed 5.56% lower at 17.0 cents today.

The company enjoyed solid tailwinds for the last quarter, supported by the ongoing global digitisation and digital transformation trend. It also expanded its enterprise customers.

Related read - Three ASX-listed SaaS shares to look at in January 2022

Financial Highlights -

  • As per the quarterly report, the revenue for December Q2 FY22 stood at AU$531K, demonstrating an annual revenue run rate multiple of AU$2.12M, followed by full-year trade revenue of AU$1.06 million.
  • The company has achieved 160% Y-o-Y growth following the consistent support to its customers’ key digitisation strategies in the last quarter.
  • Cash receipts grew to AU$346K, up 58% on the prior quarter and 47% on the previous corresponding period (pcp).
  • The net cash from operating activities outflows stood at AU$1.3 million, down 3.6% in the quarter.

Bottomline 

The company is more focused on investing in R&D and hubs expansions, which will help the company enter the European market. Yojee expects to achieve exponential revenue growth for at least ten years with its current growth plans.

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