Business
Annual Financial Report and AGM Notice
Annual Financial Report and AGM Notice.
About this update from Ondo Insur Tech Plc
[{"type":"text","content":"\n\n31st July 2023\nOndo InsurTech Plc (\"Ondo\" or \"the Company\")\nPosting of Notice of Annual General Meeting\nAnnual Report & Financial Statements for the Period Ended 31 March 2023\nOndo InsurTech Plc (\"Ondo\"), the London-listed leader in claims prevention technology for home insurers, is pleased to announce Audited Results for the 18 month period ended 31 March 2023. The full set of audited accounts are available on the Company's website here.\nOndo is also pleased to announce that the Audited Results, a Notice of its 2023 Annual General Meeting (\"AGM\") and a Form of proxy will be posted to shareholders shortly and are available on the Company's website here.\nThe AGM will be held at 11.00 a.m. on 25 September 2023 at the offices of Shakespeare Martineau LLP, 6th Floor, 60 Gracechurch Street, London, EC3V 0HR\nOndo InsurTech Plc acquired LeakBot Limited in March 2022 and since this acquisition falls outside of the scope of IFRS 3, Reverse takeover accounting (RTO) has been applied. This therefore means that the period figures within these annual report and financial statements for the Group are for the 18 months to 31st March 2023 with the comparatives represent those of LeakBot Limited only for the year ended 30 September 2021.\nFinancial Highlights - Audited Period (18 months to 31 March 2023)\n \n● Revenue of £2.4m for 18 months to 31 March 2023 (12 months to 30 September 2021 £0.9m)\n● Gross Profit before expenses £0.85m for 18 months to 31 March 2023 (12 months to 30 September 2021 £0.55m)\n● £0.4m of inventory accumulated in anticipation of 2023 partner launches\nPost RTO Highlights - 12 months to 31 March 2023\n \n● 54,206 LeakBot units sales +299% higher vs the same period a year ago (12 months to 31 March 2022: 13,598)\n● Registered Customers on platform at period end were 69,793 +75% growth (12 months to 31 March 2022: 39,859)\n● Revenue of £ 2.1m for the 12 months to 31 March 2023, which is +182% higher than for the same period a year ago (12 months to 31 March 2022: £0.7m)\n● £1.0m of which was from recurring Software and Services +536% growth (12 months to 31 March 2022: £0.2m) £1.1m being from one-off Hardware and Set-up fees +86% growth (12 months to 31 ...