Quarterly Report
Brisbane, Jan 31, 2019 AEST (ABN Newswire) - OtherLevels Holdings Limited (
ASX:OLV) (OtherLevels) has today released its Appendix 4C for the quarter ended 31 December 2018, featuring:
- Cash receipts from customers were A$1.8m for the quarter, compared to A$2.1m for the prior corresponding period.
- Total operating cash receipts for H1 FY19 were A$3.7m, compared to A$3.4m for H1 FY18.
- Excluding acquisition related costs, operating and investing costs were A$2.1m for the quarter compared to A$2.0m in the prior corresponding period.
- Included in the above data, are cash receipts and operating costs relating to the recent acquisition of the XCOM Media Pty Ltd ("XCOM") business.
- Notwithstanding that excluding acquisition costs, operating and investment costs have averaged A$1.997m for the last 8 quarters, the Company continues to manage costs carefully.
- The Company conducted a successful placement to sophisticated investors and a number of small cap specialist funds to fund the XCOM acquisition. A$1.435m was received and transaction costs totalled A$0.323 of which A$0.298m has been paid in H1 FY19.
Although Q1 FY19 was strong, delays in converting sales opportunities impacted cash flow in the current quarter. However, H1 total compares favourably with the prior corresponding period. Cost discipline was maintained, and the Company continues to make progress towards its goal of achieving positive operating cashflow.
During the period, the Company also completed the acquisition of XCOM and made rapid progress on integration to ensure the flow through of synergies in H2 FY19.
Commenting on the results, Managing Director, Brendan O'Kane said, "We are pleased that cash across H1 improved compared to the prior period, strong cost discipline, and the positive contribution from XCOM. OtherLevels continues to grow and make strong progress with the increasing interest from clients and prospects in our technology, especially the In-Play real-time capabilities for our iGaming clients".
About Otherlevels Holdings Ltd
OtherLevels Holdings Ltd (ASX:OLV) (FRA:7OL) is a leading second-generation digital marketing platform with offices in Europe, the US and Australia.
The OtherLevels platform enables clients to acquire sooner, engage smarter and retain longer across desktop, mobile web and apps audiences. The OtherLevels platform offers both Intelligent Messaging for Conversion, and Intelligent Messaging for Marketing Clouds and CRM, hence delivering both acquisition and engagement capabilities for digital marketers. OtherLevels leading clients include Camelot (UK), Tatts/Tabcorp, Coles, Flight Centre, IHG, LadbrokesCoral, Betfred and Doubledown.
For more information, please visit https://otherlevels.com.
For media enquiries please contact media@otherlevels.com.
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