Locafy Announces Preliminary Unaudited Revenue for the Financial Year Ended June 30, 2022
July 27 2022 - 09:20AM
Locafy Limited (NASDAQ: LCFY, LCFYW) (“Locafy” or “the Company”), a
globally recognized software-as-a-service technology company
specializing in local search engine marketing, today announced
preliminary unaudited revenue for the financial year ended June 30,
2022 (“FY22”), and additional select unaudited performance metrics.
FY22 Preliminary Unaudited Financial Results:
- Revenue is expected to be A$4.2m, an increase of
approximately 92% compared to the financial year ended June 30,
2021.
- Gross Profit is expected to increase by approximately
81% compared to the financial year ended June 30, 2021.
- Rapidly growing distribution channel with 421% growth in
Total Partners to 135 as at June 30, 2022. The size and caliber
of these partners continues to improve as we demonstrate in-market
performance of our local search solutions.
“The financial year ended June 30, 2022 was a transformational
year for Locafy, which included our successful IPO on the Nasdaq on
March 25, 2022,” said Gavin Burnett, CEO and Founder.
“Locafy enjoyed pleasing revenue growth of around 92% over the
previous financial year, and the Locafy team is now focussed on
achieving profitability in FY23 through a combination of cost
management, profitable organic growth and profit-accretive
acquisitions,” Mr Burnett said.
“This tremendous progress and our strong competitive position
would not have been possible without the talent and determination
of the entire Locafy team.”
Current Trading and Outlook
Monthly Recurring Revenue (MRR) for July 2022 is expected to
be around $500,000 based on current contracts, an increase of
approximately 110% compared to July 2021.
Mr Burnett commented, “The new financial year has started well
and we expect the increasing momentum seen in the last financial
year to continue. Our core values of growth, innovation and
tenacity is keeping Locafy ahead of the competition.
We intend releasing our technology roadmap for FY 2023 in the
near future, which will demonstrate our commitment to continued
innovation to stay ahead of the pack and drive tangible benefits
for our channel partners and customers.
We believe these upcoming releases will increase our competitive
advantage in the local search market where we are rapidly
establishing ourselves as leaders, benefiting our clients with
their digital presence needs.”
Financial Disclosure Advisory
Locafy has not yet completed its reporting process for its
financial year ended June 30, 2022. The preliminary results
presented herein are approximate and based on its reasonable
estimates and the information available to it at this time. As
such, Locafy's actual results may materially vary from the
preliminary results presented herein and will not be finalized
until Locafy reports its final results for its financial year ended
June 30, 2022 after the completion of its normal financial-year-end
accounting procedures, including the execution of its internal
controls over financial reporting. In addition, any statements
regarding Locafy's estimated financial performance for the
financial year ended 30 June, 2022 do not present all information
necessary for an understanding of Locafy's financial condition and
results of operations as of and for the yearly period ended June
30, 2022.
Non-deal roadshow hosted by H.C. Wainwright & Co
Gavin Burnett, CEO & founder, and David Penner, CTO, will
participate in a virtual non-deal roadshow ("NDR") with H.C.
Wainwright & Co on Wednesday, July 27, 2022 and Thursday July
28, 2022.
The Company's NDR presentation materials can be accessed through
the Investor Relations section of the Company's website at
https://investor.locafy.com. About
Locafy LimitedFounded in 2009, Locafy’s (NASDAQ: LCFY, LCFYW)
mission is to revolutionize the US$700 billion SEO sector. We help
businesses and brands increase search engine relevance and
prominence in a specific proximity using a fast, easy, and
automated approach. For more information, visit www.locafy.com
Safe Harbor StatementThis press release contains
“forward-looking statements” that are subject to substantial risks
and uncertainties. All statements, other than statements of
historical fact, contained in this press release are
forward-looking statements. Forward-looking statements contained in
this press release may be identified by the use of words such as
“subject to”, “believe,” “anticipate,” “plan,” “expect,” “intend,”
“estimate,” “project,” “may,” “will,” “should,” “would,” “could,”
“can,” the negatives thereof, variations thereon and similar
expressions, or by discussions of strategy, although not all
forward-looking statements contain these words. Although the
Company believes that the expectations reflected in such
forward-looking statements are reasonable, they do involve
assumptions, risks, and uncertainties, and these expectations may
prove to be incorrect. You should not place undue reliance on these
forward-looking statements, which speak only as of the date of this
press release. The Company's actual results could differ materially
from those anticipated in these forward-looking statements as a
result of a variety of factors, including those discussed in the
Company's periodic reports that are filed with the Securities and
Exchange Commission and available on its website
(http://www.sec.gov). All forward-looking statements attributable
to the Company or persons acting on its behalf are expressly
qualified in their entirety by these factors. Other than as
required under the securities laws, the Company does not assume a
duty to update these forward-looking statements.
Contacts
InvestorsLocafy Investor RelationsLocafy LimitedE:
investor@locafy.com |
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