Netlinkz continues strong revenue growth for FY21
- Netlinkz poised for growth with a strengthened balance sheet and increasing revenue
- Netlinkz nearly triples cash receipts from customers in FY21
Quick facts: Netlinkz Ltd
Price: 0.023 AUD
Market Cap: $74.33 m
About the company
Netlinkz Ltd (ASX:NET) is the developer of a Virtual Invisible Network (VIN) offering security, meshing, and encryption technology that enables clients to connect anyone, anywhere, on any device over a mesh network.
The flagship product, Netlinkz VSN, provides Fortune-500 security commercially available for organisations of all sizes.
Netlinkz is focused on cloud-first, security, scalability and simplicity, allowing its customers to concentrate on business growth, team collaboration, and global sharing of critical data.
How it is doing
China revenue grew by 196% to $11.9 million (2020: $4 million) with the revenue base now underpinned by growing recurring revenue through licensing and servicing contracts.
A number of these contracts are with global Fortune 100 companies across several industry sectors, including infrastructure, logistics, renewable energy, healthcare and retail services.
The company also strengthened its balance sheet with net assets of $21.4 million and $10.8 million in cash by the end of the year after raising $40.7 million in equity and settling $25.3 million in debt.
Netlinkz Ltd (ASX:NET) saw group revenues in the third quarter of financial year 2021 rise 85% to $2.9 million over the corresponding period of 2020 with Asia continuing to lead the growth, particularly China
The company is expecting a stronger fourth quarter of FY21 due to the seasonality of revenue, with a growing proportion coming from recurring revenue.
Insight: Netlinkz nearly triples cash receipts from customers in FY21
Over FY21, the technology stock’s unaudited revenue increased roughly 174% on the previous financial year, with around $2.7 million brought in over the June quarter.
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