Karl Redenbach (LiveTiles)
LiveTiles has seen a significant improvement in its bottom line after cutting its previous $30 million loss down to just $818,000 for the financial year ended 30 June 2022.
The software vendor marked its annual statement on the Australian Securities Exchange (ASX) with a revenue rise of 14 per cent to $53 million.
The bulk of LiveTiles’ revenue -- $42 million -- came from software subscriptions, a rise of 25 per cent year-on-year.
Software-related services revenue came in at $9.3 million. LiveTiles’ new employment engagement platform made $900,000 in revenue while a further $400,000 was classed as ‘other’ revenue.
Meanwhile, its underlying EBITDA increased by 362 per cent to $3 million from $1.1 million in 2021 while actual EBITDA improved by 151 per cent to $5.1 million.
LiveTiles also said it was continuing to focus on key channel partners, as well as its Microsoft alliance as part of its ‘partnership strategic focus’.
Indeed, LiveTiles even went so far as to acquire its Perth-based partner The Human Link for $1 million to expand in the employee experience (EX) market.
Earlier this month, LiveTiles announced its plans to de-list from the ASX. The company claimed the trading prices of its shares in recent years had not been reflective of a fair value and is lower when compared to unlisted companies similar in nature to LiveTiles.
Looking at life beyond the ASX, the company said it was looking to maintain high customer retention, high margin customers and “retaining a market leading position” across Asia Pacific, EMEA and the Americas.
It also is planning a an “extensive” operational review of its business and the continued move of “certain” jobs to Portugal and the Philippines.
