Novatti Group Limited reported a 41% quarter-on-quarter improvement in net operating cash outflow to $2.5m, with quarterly revenue of $12.5m, up 23% year-on-year.
FY24 revenue increased 19% to $46.5m, while operating expenses decreased 21% year-on-year.
The company sold its interest in International Bank of Australia for $2.87m and plans to remove an additional $3m in annualized costs in Q1 FY25.
Novatti aims to achieve positive operating cashflow by the end of H1 FY25 and is progressing towards its three-year 70% gross margin target for Payments AU/NZ, which currently stands at 45%.
ASX Code: NOV