Novatti Group Ltd. (AU:NOV) has released an update.
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Novatti Group Limited reports a solid financial performance in FY24 with a 10% year-on-year revenue increase to $42.9 million, a 19% decrease in normalized operating expenses, and a 16% improvement in underlying EBITDA. The fintech company has undergone significant restructuring, reducing its business portfolio and implementing a $7 million cost reduction program, which positions it for further improvements in FY25. Novatti is targeting a positive operating cash flow by the end of the first half of FY25 and is committed to a strategic plan aiming for a 70%+ margin target within three years.
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