Urbanise.com Ltd. (AU:UBN) has released an update.
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Urbanise.com Ltd is engaged in a legal dispute with Colliers Australia over a contract valued at $680k for the development of Urbanise’s facilities management platform, with claims exceeding $3m for unpaid fees and early termination disputes. Despite the conflict, Urbanise is confident in achieving cash flow breakeven by FY2025, thanks to a strong sales pipeline in the APAC and Middle East regions, and the dispute does not affect its contract with Colliers New Zealand. The company continues to see strong demand for its SaaS platforms in property and facilities management across various sectors.
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