Slide 1: Global VAT/GST Refunds: 1H24 results and business update
For personal use only GLOBAL VAT/GST REFUNDS 1H24 results and business update 29 August 2024
Slide 2: The world's only fintech company automating global VAT reclaim processing
The world’s only fintech company automating global VAT reclaim processing through image processing and AI For personal use only LON Every month TLV BCN 1M invoices recovered automatically Market potential Enterprise clients $20B 375+
Slide 3: Ability to retrospectively administer several years of claims
How we add value – ability to retrospectively administer several years of claims CASE STUDY For personal use only • New large multinational NASDAQ-listed technology client with a current market cap over US$30 billion. • Expected to be a long-term relationship • Initial work with this client is proce
Slide 4: Ability to easily expand to meet growing client operations in different jurisdictions
How we add value – ability to easily expand to meet growing client operations in different jurisdictions CASE STUDY For personal use only • Large international water treatment and chemical company • Way2VAT client since 2022 • Way2VAT currently provides T&E and AP services to 33 company entities acr
Slide 5: Ability to accurately and quickly process VAT reclaims across the globe
How we add value – ability to accurately and quickly process VAT reclaims across the globe CASE STUDY For personal use only • One of the largest multinational recruitment companies in the world • More than 40,000 employees across 4,500 offices • Way2VAT were able to produce more accurate reports and
Slide 6: Financials
Financials For personal use only 1H24 Financial Highlights 1H24 Cash Flow
Slide 7: 1H24 financial highlights
1H24 financial highlights For personal use only $1.74M $1.3M Net revenue in 1H24 Gross Profit in 1H24 +27% on pcp +45% on pcp 75% $3.4M Gross margin Trade receivables + 9bps on pcp (as at 30/6/24)
Slide 8: Accelerating revenue run rate
Accelerating revenue run rate For personal use only Revenue (A$k) Revenue (A$k) 2000 1H comparison 1800 1740 1740 2000 1600 1740 1364 1800 1400 1242 1600 1364 1200 1400 1200 1000 760 1000 800 760 800 600 600 400 400 200 200 0 0 1H FY22 1H FY23 1H FY24 1H FY22 2H FY22 1H FY23 2H FY23 1H FY24
Slide 9: Operational expense management to harness growth
Operational expense management to harness growth • 1H24 operating expenses $4.68 million, up 22% on pcp (1H23: $3.84 million) For personal use only • Mainly due to: • Updating the provision and recording of expenses (a non-cash item) in connection with key research and development grant expenses. •
Slide 10: 2H24 Outlook
2H24 Outlook • Seasonally, Way2VAT revenue performs better in the second half due to various tax deadlines and financial year-ends in most EU jurisdictions For personal use only • Irrespective of seasonality, transaction volume and revenue is trending upwards off an increasing client base using the
Slide 11: Questions
For personal use only Questions