Cirata plc (CRTA) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Today, I want to walk you through Serata's results for the first half of our 2025 financial year and share how we're positioning the business for long-term success. I'm pleased to report that in the first half of 2025, Serata delivered solid growth. Revenue rose to 4.8 million, up from 3.4 million a year ago, an increase of over 40%. Bookings increased to $3.8 million, a 58% year-on-year rise. Importantly, our cash overheads fell to $8.5 million, a sharp reduction from the $11.8 million of last year. This improved efficiency has had a real impact. There is further evidence of operating leverage. Our adjusted EBITDA loss halved, moving from $8.6 million loss last year to a $4 million loss this period. As at the end of June, we held $6.1 million in cash with a further $1.3 million in receivables, giving us the cash plus receivables position of $7.4 million as we move into the second half of the year. So we're encouraged by our progress we've made in reducing costs, focus in the business and strengthen in our balance sheet. However, we still have to deliver results and consistent scalable growth with an emphasis on new logos and new customer names. A major driver of the growth and momentum is our data integration business, which is the core focus for Serata's future. Bookings in this segment reached $3.1 million, up over 200% year on year. During the first half, we signed 20 contracts, including our first enterprise-wide license agreement with one of the world's top 20 retailers, a renewal with a top five Canadian bank, and a new partnership win through our collaboration with Databricks. This first half momentum comes on the heels of our Q4 FY24 announcement of our contract with the top US bank. Q4 FY24 and Q1 FY25 were $3 million bookings quarters, and this level of pe...