Knosys Ltd. (AU:KNO) has released an update.
Knosys Ltd. has reported a positive shift in financial performance for FY24, with a focus on stabilizing revenue, reducing costs, and delivering a positive net profit after tax (NPAT). Despite a slight decline in revenue, the company managed to lower operating expenses by 19%, leading to an increase in cash balance to $4.2 million and a promising annual recurring revenue (ARR) of $9.5 million. Moving forward, Knosys is investing in market leading Library Management Solutions, eyeing revenue growth from FY26.
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