Australia's Skyfii jumps on strong Q1 results, outlook

Beonic

31/10/2022 01:01

** Shares of Australia's Skyfii  SKF.AX  rise as much as
5.9% to A$0.036, set to gain most since Sept 30 if gains hold
    ** The software firm records total operating revenue for the
first quarter of A$5.4 million ($3.46 million), representing a
7% jump on pcp  urn:newsml:reuters.com:*:nASX7dlxDh
    ** Co maintains its guidance and is confident that it will
deliver more than A$20 mln in Annual Recurring Revenue and
sustainable cash flow breakeven in the second half of fiscal
2023
    ** Also sees costs rationalisation and efficiency
initiatives to continue in Q2
    ** Says operating cash flow is expected to improve
significantly during FY23
    ** Stock has fallen 65.7% this year as of last close
($1 = 1.5615 Australian dollars)
 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))