1st Group Ltd. (AU:VFX) has released an update.
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1st Group Ltd. has reported a significant 169% increase in FY24 revenue to $6.95m, while reducing its EBTIDA loss from $3.2m to $0.7m, indicating a steady march towards profitability by FY25. The company has experienced a 400%+ increase in Annual Recurring Revenue, reaching $1.3m as of 30 June 2024, benefiting from a growing global virtual care market projected to reach $79.9 billion by 2032. They’ve also strategically streamlined their focus by divesting from unprofitable divisions to concentrate on Visionflex, their in-demand product suite that’s gaining traction across various healthcare sectors.
For further insights into AU:VFX stock, check out TipRanks’ Stock Analysis page.