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8Common Ltd (ASX:8CO)

ALERT: Price-sensitive ASX Announcement for 8CO
Current share price for 8CO : $0.038 0.02 (111.11%)+
Announcement
Release
30 Apr 2025 6:22PM
Price at Release
$0.018
Full Release
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Summary
8Common Ltd (ASX: 8CO) reported its quarterly cash flow and business update for the quarter ending 31 March 2025, showcasing a transaction and recurring SaaS revenue of $1.1 million, marking a 5% increase compared to the previous corresponding period. The total revenue for the quarter was $1.5 million despite a seasonal decline due to reduced government travel. Key operational highlights included the successful transition to NAB payment cards for the Federal Government's Travel and Procurement Payment Services and significant cost reductions of 33% year on year, primarily in administrative and corporate expenses. The company ended the quarter with a cash balance of $0.1 million, bolstered by a $1.5 million financing facility from the Executive Chairman, ensuring adequate funding for ongoing operations.
Key Points
  • Total revenue for Q3 FY25 was $1.5 million.
  • Transaction and recurring SaaS revenue increased by 5% year on year.
  • Operational cash outflow for the quarter was $54,000.
  • Annualised recurring revenue stood at approximately $5.0 million.
  • Operational costs decreased by 33% from the previous year.
  • The cash balance at the end of March 2025 was $0.1 million.
  • A $1.5 million financing facility from the Executive Chairman was secured.
  • Infrastructure and technology upgrades resulted in significant cost savings.
  • The quarter experienced new customer implementations including government agencies.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.