January 30, 2020

Straker Translations Q3 FY2020 ASX Update

Via strakertranslations.com

Straker Translations has released its Q3 FY2020 Results to the market. 

Q3 shows early signs of progress from Straker Translations’ focus on Enterprise customers

Key highlights from Q3 FY2020:

  • Cash inflows of NZ$6.9 million, up 2% on Q3 FY2019
  • Operating net cash outflow of NZ$(0.3) million reflects the current transition to large global Enterprise customers, which has a longer lead time relative to small/private customer sales
  • Near seven-figure translation project signed with a major global Enterprise by Straker Translations’ newly established Burbank, Hollywood office, utilising capabilities enabled by the partnership with AppTek
  • In the advanced stages of an M&A opportunity that is expected to be signed by the end of March
  • Successfully integrated On-Global Language Marketing SL (On-Global) onto the Ai powered RAY platform within six months of purchase
  • Well-funded to continue progressing the Company’s growth strategy, with a cash balance of NZ$12.4 million, and no debt

Click here to read the full release.