Novatti Group Ltd. (AU:NOV) has released an update.
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Novatti Group Ltd. has achieved a record quarterly revenue of $12.4m, marking a 16% increase from the previous quarter, with significant growth in its core Payments AU/NZ and International segments. Alongside this revenue surge, the company has launched a $4m+ cost reduction program expected to have a positive financial impact from Q4 onwards. Despite setting back the target for positive operating cash flow to late 2024, Novatti remains focused on achieving this goal through further cost management and strategic divestments.
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