FINEOS Corporation Holdings Plc Shs Chess Depositary Interests Repr 1 Sh (AU:FCL) has released an update.
FINEOS Corporation Holdings PLC reported a robust quarterly performance with a cash balance increase to €29.8 million and customer cash receipts of €36.9 million, despite a 16% year-over-year decline. Key product milestones were achieved, such as the release of AdminSuite software, and the company is on track with major projects, including Guardian’s go-live and New York Life’s entry into the US voluntary benefits market. The company also focused on cost efficiency and renegotiation of a significant client contract, expecting a positive impact on future cash collections.
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