WAY 2 VAT LTD ( (AU:W2V) ) has shared an update.
Way2VAT Ltd reported a 48% increase in revenue for FY24, reaching $4.6 million, driven by the addition of new enterprise clients and the launch of an AI-driven accounts payable auditing product. The company implemented significant cost-saving measures, reducing operating expenses by 20%, and raised additional funds through convertible notes to support its growth strategy. Despite challenges in collections from European tax offices, Way2VAT is actively working to expedite payments and improve cash flow, positioning itself for operational profitability.
More about WAY 2 VAT LTD
Way2VAT Ltd is a global fintech leader specializing in automated VAT claim and return solutions. The company focuses on providing AI-powered services to streamline VAT/GST claims and returns for enterprise clients across various industries.
Technical Sentiment Consensus Rating: Buy
Learn more about W2V stock on TipRanks’ Stock Analysis page.