Flash Update 12/12/2023
ASX:CF1
2023 Highlights and Key Milestones: The group focused on building an ecosystem for equity capital market participants, achieving several key milestones including a deal with NRI- AUSIEX, the acquisition of MIntegrity, a partnership agreement with Praemium, signing clients like Wilsons and Bell Potter, and deploying a new portfolio modelling and rebalancing tool. Financially, there was a year-on-year growth in Annual Recurring Revenue (ARR) across all key business units, a focus on cross-selling, up-selling, and acquisitions to drive incremental ARR, and significant cost cutting to improve gross margin and profitability.
Developing Strategic Relationships: The company, in collaboration with ECS and Praemium, focused on adapting to a fast-changing regulated framework, tech- focused solutions, enabling clients to provide quality customer solutions, and improving business opportunities for clients. This was part of their strategy to position themselves as a first-of-breed offering in the industry.
Business Acquisition of MIntegrity: This acquisition was aimed at broadening the revenue base, with an anticipated incremental annual revenue of $1.48 million in the first year. It also helped in growing the corporate client base, providing access to MIntegrity’s client base and integrating MIntegrity with group clients and users. This acquisition positioned Complii as a one-stop shop for AFSL compliance technology, services, and consulting, and introduced cross- promotional opportunities with MIntegrity’s digital regulatory web service (RegsWeb) and e- learning portal (MIWize).
Corporate Highway: Next Generation: The presentation highlighted the success of their Corporate Highway initiative with $30 billion raised since its launch, including over $10 billion in FY23 alone. It also mentioned a strong pipeline focusing on institutional deal types and increased efficiency for joint-lead managers on institutional deals. This initiative has led to a significant increase in registered dealers and client signings, showcasing the company's growth and expansion.
Group Oering – A Complete Ecosystem: The company offers a comprehensive range of services covering the entire corporate lifecycle from inception to becoming a unicorn. This includes registry services, unlisted share trading facilities, capital raising and administration tools, shareholder services post-listing, compliance controls for capital market dealings, and consulting services. This holistic approach demonstrates the company’s commitment to providing a full suite of solutions to its clients.
This note was based on facts from the company update dated 12/12/2023.
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