Straker Translations half-year FY21 results
Straker Translations announced its half-year FY21 results to the market on 26 November 2020. Highlights from the release include:
- Revenue increased 9% to $14.8 million from $13.6 million
- Annualised repeat revenues at 30 September 2020 up 32% to $28.1 million (representing 93% of total revenue) from $21.3 million at the same time a year ago
- Enterprise customers generated 59% of total revenues
- Statutory gross margin of 51.1% falls from 54.4% amid COVID-19 induced pricing pressures and the dilutionary effect of recent acquisitions
- Adjusted EBITDA1 profit at $0.04 million, up from the prior year’s $0.24 million loss due to acquisition synergies and COVID-19 related cost reductions
- Cash used in operating activities of $0.4 million falls from the prior year’s $1.5 million cash outflow reflecting the improved operating performance of the business
- Cash on hand of $7.7 million provides capital to fund operations
Click here to read the full announcement.