Business
Final Results
Final Results.
About this update from Narf Industries Plc
[{"type":"text","content":"\n\n31 July 2024\nNARF INDUSTRIES PLC\n \nAudited Financial Results\nFor the 15-month period ended 31 March 2024\n \nNarf Industries plc (\"NARF\", the \"Company\", or the \"Group\") (LSE: NARF), the cybersecurity group specializing in high-end threat intelligence and critical infrastructure security, is pleased to announce that its Audited Financial Results for the 15-month period ended 31 March 2024 have been approved and extracts are attached to this announcement. They are available in full on the Company's website at https://narfgroup.com/investor-relations/corporate-document\n \nAll reference to $ are for USD$ and any reference to 2024 or 2022/FY2022 are for the 15-month period ended 31 March 2024 and the calendar year ended 31 December 2022 respectively.\n \nOVERVIEW\n· Increased total revenue 200% to $7.6 million\n· Scaled and expanded US Government business\no Government Research & Development (\"GR&D\") revenue increased 231% to $4.5 million\no Government Solutions & Services (\"GS&S\") revenue increased 159% to $3.0 million\n· Reported positive Adjusted EBITDA* of $165,000 from FY2022 Adjusted EBITDA* loss of $2.5 million\n· Reduced operating loss to $1.4 million from FY2022 operating loss of $3.3 million\n· Formed a skilled Board of Directors to advance the Company to its next stage\n· Strengthened the Group's internal and external financial reporting \n· Extended line of credit with the CEO to 31 July 2025 and increased facility from $2 million to $2.5 million\n \n*Adjusted EBITDA is earnings before interest, tax, depreciation, amortisation and share based payments.\n \nEXECUTIVE CHAIRMAN'S STATEMENT\nI am pleased to present the audited financial results for Narf Industries PLC for the 15-month period to 31 March 2024, which aligns to our new financial year end. \n \nThis has been a transformative period in which the Group achieved record revenue growth, positive Adjusted EBITDA* performance, increased its intellectual property portfolio through cutting-edge government funded research and development, and announced it was accelerating the launch of its break-through new social cyber-Software as a Service (\"SaaS\") ...