Credit Clear Limited announced 1H’24 results with a revenue increase of 15% to $20.03m, upgrading FY24 revenue guidance to $40m-$42m.
Underlying EBITDA improved by $1.8m on pcp, with statutory EBITDA up by $5.4m on pcp.
FY24 Underlying EBITDA guidance upgraded to in excess of $3m.
Underlying EBITDA margin to revenue improved from 0% to 9%.
Gross margin expanded to 54%, up from 50% in 1H’23, due to technology efficiency gains in the ARMA Consumer Division.
Strong balance sheet with $13m cash at bank, a $3.7m improvement on pcp, after paying $0.5m for the DRA acquisition.
Signed 225 new clients, a 24% increase on pcp, including tier-1 clients in banking, insurance, and utilities.
Digital collection increased by 72% on pcp to $52.9m, with technology boosting performance and profitability.
The rising cost of living and interest rates create increased demand for Credit Clear's services.
The company will host a 1H’24 investor briefing on 26 February.
Credit Clear is an Australian technology company offering a digital billing and communication platform powered by AI, serving various industries.