SkyFii Limited (AU:BEO) has released an update.
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SkyFii Limited, trading as Beonic, has successfully raised approximately $5 million in a two-tranche institutional placement aimed at funding its transformation plan, which includes advanced data analytics development and other strategic initiatives. Despite a net cash outflow of $1.3m in Q4 FY24, the company reported recurring revenues of $4.1m and is implementing cost-saving measures expected to reduce annual operating expenses by over $2m by Q1 FY25. These efforts are part of Beonic’s broader strategy to reinforce its market presence, particularly in the global retail and airport sectors, and to drive towards profitability and enhanced shareholder value in FY25.
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