ReadCloud Limited reports strong financial performance for the first half of 2024, with a 13% increase in sales, a 120% jump in EBITDA, and improved cash flow.
The company attributes its success to organic growth in its eBooks, Vocational Education and Training (VET) in schools, and industry training offerings.
ReadCloud is on track to achieve positive full-year operating cash flow and EBITDA while maintaining cost discipline.
The company's restructured workforce has improved customer retention and referrals, and its technology initiatives aim to enhance margins without disrupting cash flow or requiring significant capital investments.
ASX Code: RCL