Locafy Reports Transformative Fiscal 2024 Results

Locafy Ltd. ( (LCFY) ) has released its Q4 earnings. Here is a breakdown of the information Locafy Ltd. presented to its investors.

Locafy Ltd., a software-as-a-service technology company based in Australia, specializes in entity-based search engine optimization (SEO) solutions. It aims to revolutionize the $700 billion SEO sector by helping businesses enhance their online search prominence using automated approaches.

Locafy Ltd. recently reported its fiscal fourth quarter and full year 2024 financial results, highlighting a transformative year marked by a shift to a performance-based revenue model. This transition has driven significant growth in services revenue, although overall operating revenue has seen a decline due to reduced subscription and advertising revenues.

A notable highlight from the fiscal year was the 231.3% increase in services revenue driven by strategic partnerships and technology advancements, such as the introduction of the Article Accelerator technology and the Hotfrog Proximity Page. However, the company faced challenges with a 22.8% decline in total operating revenue, primarily due to a decrease in subscription and advertising revenues, attributed partly to the transition of customers to upgraded technology platforms and changes in advertising programs.

Despite the financial setbacks, Locafy has successfully reduced its operating expenses by 30.2% through cost-cutting measures, including a significant reduction in headcount and technology expenses. This strategic realignment positions the company to enhance its technological offerings and expand its market presence in the coming year.

Looking ahead, Locafy’s management expresses confidence in its ability to adapt to the evolving SEO landscape. With plans to expand its suite of technologies and capitalize on AI-driven content trends, the company is optimistic about driving growth and delivering superior results for its clients in fiscal 2025.