Readcloud Ltd. · ASX:RCL
Readcloud — Shareholder Meeting (February 2024)
14 slides from Readcloud's shareholder meeting presentation, Feb 23, 2024
Slide 1: CEO Presentation Annual General Meeting
For personal use only ReadCloud Limited Technology, Training and Content solutions for school and industry CEO Presentation Annual General Meeting 23 February 2024
Slide 2: Financial Performance: Getting into gear
Financial Performance For personal use only Getting into gear FY23 1QFY24 YTD (Jan 2024) progress Consolidated revenue Up 25% to $10.7m Up 19% on pcp Up 14% on pcp Operating costs Up 17% to $7.0m 8% reduction on pcp 11% reduction on pcp Cash $1.7m $1.2m Current cash $2.1m* * As at 21 February 2024 R
Slide 3: ReadCloud's Markets
ReadCloud’s Markets For personal use only 243,000 3.9 million students 1.7 million students in students in enrolled in VET 2,861 secondary VET-in-school courses with 3,519 schools in Australia2 courses1 training providers in Australia 1. National Centre for Vocational Education Research – VET in Sch
Slide 4: eBook Solutions
eBook Solutions For personal use only FY23 Revenue growth of 2.6% ➢ encouraging transition to higher margin direct sales channel (12.6% growth in FY23) Improved retention of Australian schools in FY 24 expected to be 84%, compared to FY23 of 69% The addition of ReadCloud to the Queensland Education
Slide 5: VET-in-schools
VET-in-schools For personal use only Management layers removed enabling greater focus on student and teacher stakeholders Strong performing gross margin business (at 90% in FY23) ➢ delivery of digital VET course materials to students and teachers via the proprietary ReadCloud platform ➢ investment i
Slide 6: Southern Solutions Industry Training
Southern Solutions Industry Training For personal use only Enrolment Target of 45 new students each month (excluding January) consistently exceeded ➢ 253 enrolments FYTD up 241% on pcp and 41% ahead of February 2024 target of 180 Margins improving with focus on training efficiencies. FY24 gross marg
Slide 7: Outlook
Outlook For personal use only Focus on delivering breakthrough positive underlying EBITDA in FY24 On track for positive operating cashflow in FY24 Driving the execution of organic growth initiatives in eBook Solutions, VET-in-schools and industry training Disciplined cost control Near term growth fr
Slide 8: Additional Information
For personal use only Additional Information 8
Slide 9: Investment Highlights
Investment Highlights For personal use only On course for positive EBITDA and positive Operating Cashflow in FY24 Stable fixed cost base with cost efficiencies embedded for FY24 to offset impact of inflation Strong operating leverage in VET-in-schools and Industry Training 60 VET qualifications on s
Slide 10: Corporate Snapshot
Corporate Snapshot For personal use only ASX Code: RCL Substantial Shareholders Share Price (21 February 2024) $0.049 Thorney Group* 11.4% Microequities Asset Management 9.1% Market capitalisation (@ 4.9 cents) $7.2m Lars Lindstrom 6.4% Shares on issue 146.2m Hunmar Holdings/Darren Hunter* 5.1% Top
Slide 11: FY23 Financials: Underlying EBITDA
FY23 Financials Underlying EBITDA For personal use only $’000 FY23 FY22 YOY Sales and fee revenue 10,349 8,212 +26.0% • Underlying EBITDA = earnings adjusted for Interest, Tax, Depreciation and Amortisation, Share-based payments, transaction Less publisher & bookseller fees (3,619) (3,334) +8.5% cos
Slide 12: FY23 Financials: Balance Sheet
FY23 Financials Balance Sheet For personal use only $’000 Note 30-Sept-23 30-Sep-22 Notes Cash and cash equivalents 1,709 2,467 1. Includes trade receivables of $0.81 million and FY23 Trade and other receivables 1 1,154 945 R&D tax incentive receivable of $0.33 million (received in February 2024) Pr
Slide 13: FY23 Financials: Cash flows
FY23 Financials For personal use only Cash flows $’000 Note 30-Sept-23 30-Sep-22 Notes Receipts from customers 10,690 7,879 1. Improvement in operating cash flow driven by Payments to suppliers (11,564) (9,166) revenue growth, increased contribution from R&D tax incentive refund 424 396 (higher marg
Slide 14: Disclaimer
Disclaimer For personal use only This presentation has been prepared by ReadCloud Limited (“Readcloud”), based on information The distribution of this presentation may be restricted by law and you should observe any such available as at the date of this presentation. The information in this presenta