Qoria Ltd (FMZNF) Q1 2026 Earnings Call

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Replay transcript excerpt

WEBVTT 00:00:00.031 -- 00:00:05.158 collections, coming in at $46.3 million, which is 23% up on 00:00:05.158 -- 00:00:07.261 last year's Q1. 00:00:07.261 -- 00:00:12.348 We've gone to the market to a 20% increase PCP on this half's cash 00:00:12.348 -- 00:00:15.312 collections, and obviously we've been set up well there. 00:00:15.312 -- 00:00:20.378 ARR growth is very strong, K12 BISM. We've gone through what was a massive 00:00:20.378 -- 00:00:24.864 sales period June last year. Chris Winston's team have done an outstanding job, not only 00:00:24.864 -- 00:00:29.431 selling new low, but we're seeing signs of a real uptick in cross and up sales, which 00:00:29.431 -- 00:00:33.293 is really important for the future of this business. 00:00:33.293 -- 00:00:36.056 We'll talk about that in coming 00:00:36.056 -- 00:00:41.060 quarters about our cross-sell journey, products per customer, metrics like that. 00:00:41.060 -- 00:00:44.501 You'll hear a lot about that from us soon. 00:00:44.783 -- 00:00:48.787 But again, a highlight, which we've talked about for a couple of quarters now, is custodial. 00:00:48.787 -- 00:00:50.829 Now we're putting a little bit more money into that business. 00:00:50.829 -- 00:00:56.034 It is taking off with ARR growth across the group of 25% year-on-year, but the custodial 00:00:56.034 -- 00:00:59.600 business growing at 33% on an annualised basis. 00:00:59.600 -- 00:01:04.565 Generated free cash flow of nearly $12 million, which is 50% up on last year. 00:01:04.565 -- 00:01:08.849 And we're not only reiterating the guidance that we provided last quarter, but we've 00:01:08.849 -- 00:01:12.632 now upgraded the guidance to $145 million. 00:01:12.632 -- 00:01:18.516 So, yeah, a fantastic start to the year. Let's go through it a little bit more det...