JCURVE SOLUTIONS LTD — Capital/Financing Update 2024

Aug 12, 2024

ABN 63 088 257 729 9 Help St, Chatswood NSW 2067, Level 8, Australia

https://www.jcurvesolutions.com/

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13[th] August 2024

Business Update Preliminary Unaudited Results for FY2024

JCURVE SOLUTIONS LIMITED (ASX: JCS) (Jcurve), the company that builds partnerships that help people and businesses grow, provides the following market update on our preliminary unaudited results for the full year ending 30 June 2024 (FY24).

We have provided a half year to half year comparison (2HFY24 vs 1HFY24) as well as the year-on-year comparison (FY24 vs FY23), along with commentary on items that materially affected key measures.

A full business update will be provided at the same time as our FY24 financial statements are released.

2HFY24 Half Year Result

The table below shows our 2HFY24 preliminary unaudited results with a comparison to 1HFY24.

Measure	2HFY24 $M’s	1HFY24 $M’s	% Change
Revenue	6.157	6.581	(6%)
Total Expenses (**)	6.185	8.232	(25%)
Normalised EBITDA	0.506	(0.612)	183%
Profit/(Loss) Before Tax	(0.028)	(1.652)	98%
Cash Balance at period end	1.596	1.555	3%
Remaining Performance Obligation (*)	2.105	2.784	(24%)

(*) Unearned services and deferred license revenues from existing contracts

(**) COGS, Operating Expenses, Interest, Impairments & Depreciation

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ABN 63 088 257 729 9 Help St, Chatswood NSW 2067, Level 8, Australia https://www.jcurvesolutions.com/

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FY24 Full Year Result

The table below shows our Full FY24 preliminary unaudited results with a comparison to FY23.

Measure Revenue Total Expenses (**) Normalised EBITDA Profit/(Loss) Before Tax	FY24 $M’s 12.738 14.418 (0.106) (1.680)	FY23 $M’s 16.397 16.106 1.561 0.291	% Change (22%) (10%) (107%) (677%)
Cash Balance at 30 June	1.596	4.265	(63%)
Remaining Performance Obligation (*)	2.105	3.507	(40%)

(*) Unearned services and deferred license revenues from existing contracts

(**) COGS, Operating Expenses, Interest, Impairments & Depreciation

Commentary

Although the full year FY24 result is disappointing, the half on half comparison reveals a significantly stronger business in 2HFY24 with improved earnings and cash flow.

At a revenue level:

• 2HFY24 saw the disposal of the digital marketing agency (as advised to the market on 15 January 2024) and the resulting reduction in revenue;

• There was a fall in the commission rate on renewal revenue from existing customers on a year on year basis as well as for the six month period 2HFY24 vs 1HFY24. Importantly, commissions from new sales remained unchanged from FY23 to FY24 and across both half year periods of FY24.

• Commencing FY24 we ceased invoicing customers in advance for multi-year contracts and moved to annual in advance invoicing.

At a cost level in 2HFY24 vs 1HFY24:

• 2HFY24 saw a significant focus on improving productivity and reducing total expenses throughout the period with the resulting reduction in costs across most areas of Jcurve.

• We maintained expenditure on sales and marketing as we look to accelerate revenue growth and new customer acquisition.

A more detailed commentary will be provided in the Business Update to be provided at the same time as the release of the Financial Statements.

This announcement has been authorised for release by the Board of Jcurve Solutions Limited.

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