Way 2 Vat Ltd · ASX:W2V
Way 2 Vat — Corporate Update (May 2024)
7 slides from Way 2 Vat's corporate update, May 30, 2024
Slide 1: Global VAT/GST Refunds Business update
GLOBAL VAT/GST REFUNDS Business update May 2024
Slide 2: FY23 financial highlights
FY23 financial highlights $3.1M $23.7M Record revenue up Record transaction 64% on pcp volume up 11% on pcp (FY22: $1.88m) (FY22: $21.3m) 78.6% $3.57M Gross margin Trade receivables (FY22: 77%) (as at 31/12/23)
Slide 3: Q1, a record start to FY24
Q1, a record start to FY24* • Revenue of $680K, up 32% on pcp – Q1 traditionally lowest quarter of year given seasonality of client reclaim submissions. Quarterly Revenue (A$k) 1200 • Transaction volume of $4.1M, up 84% on pcp. 1000 • Cash receipts of $934k, up 83% on pcp. 800 600 • Accounts receiva
Slide 4: Growth momentum continues in Q2
Growth momentum continues in Q2 Growing enterprise clients Continued signing new clients* in April and May, including one of the world’s largest recruitment companies, offering Way2VAT’s VAT/GST claim and returns solution to over 40,000 employees in more than 4,500 offices. Pipeline 24 potential dea
Slide 5: AI-AP Compliance – preparing for launch after successful pilot
AI-AP Compliance – preparing for launch after successful pilot Pilot results • Piloted new AI-AP Compliance product with two key clients, including a NASDAQ-listed telecom provider with a global footprint. • Pilots on track to finish in Q2. • AI-AP Compliance product delivering 90% success rate on t
Slide 6: Growth strategy
Growth strategy Building on strong momentum Clear strategy to differentiate through IP protected AI technology to address a global market of unclaimed VAT/GST valued at $20 billion per year. Meeting unmet market needs with new AI compliance technology through expanded product suite Targeting existin
Slide 7: Questions
Questions