The Australian: Straker achieves record profitability and cash flow in FY24
Pioneering AI-powered translation company Straker (ASX:STG) has delivered a strong set of results for the year ending March 31, 2024.
Despite challenging market conditions, the company reported record profitability and positive free cash flow, affirming its strategic focus on leveraging AI technologies.
The company reported record revenue of $50 million for the period, with cash receipts slightly higher at $52.2 million.
Gross margin (GM) of 63.8 per cent exceeded guidance and was up a whopping 680 basis points over the past two years.
Adjusted EBITDA surged to $4.5 million, a threefold increase from $1.4 million in the previous corresponding period.
Free cash flow (FCF) also saw a substantial uplift, improving by $3.2 million to reach $2.3 million. The company maintains a robust balance sheet with no debt and cash reserves of $12.2 million, even after a $2 million share buyback.
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