Quarterly Report - March 2018
- Another strong result in Q3 FY18, with the second consecutive quarter of positive operational cashflow.
- Cash receipts from customers in excess of A$2,000,000, an increase of 95% compared to the prior corresponding period of A$1,050,000.
- A significant improvement in operating and investing cashflow for Q3 FY18 of A$51,000, compared to the prior year corresponding period which was an outflow of (A$784,000).
- Receivables as of March 31, 2018 in excess of A$500,000, which are due to be receipted in April 2018.
- Continuing effective cost control, with operating and investing cash outflows for the quarter of A$1,993,000, consistent with prior periods.
- Strong cash balance of A$834,000 as of March 31, 2018.
The quarter yielded another strong result for OtherLevels, reflecting the continued momentum the company is seeing with increased sales growth and continued effective operational cost controls.
Brendan O'Kane, the OtherLevels Managing Director, commented "Historically Q2 and Q3 of the fiscal year have been strong quarters for OtherLevels, and it is pleasing to see the company build on the FY18 Q2 success with a strong Q3. Conversely, FY18 Q4 and Q1 FY19 are cyclically quieter quarters as clients in the wagering sector are impacted by the annual northern hemisphere summer vacation period and this year, with their significant involvement with the Football World Cup. This has previously affected the timing of sales activities through this period although we remain confident of our ability to continue to grow the business over the long term.
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About Otherlevels Holdings Ltd
The OtherLevels platform enables clients to acquire sooner, engage smarter and retain longer and supports desktop, mobile web and apps. OtherLevels leading clients include Camelot (UK), Tatts, Coles, Flight Centre, IHG, LadbrokesCoral, Betfred, Doubledown and Playstudios.
For more information, please visit http://otherlevels.com.
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Otherlevels Holdings Ltd