Losses deepen for JCurve despite revenue uplift

Losses deepen for JCurve despite revenue uplift

Ends FY23 with loss of A$340,875.

Credit: Supplied

NetSuite reseller JCurve Solutions has posted a loss of A$340,875 for the financial year ended 30 June 2023. 

The Sydney-based company saw its 2022 loss of A$66,390 fall by another 413 per cent, partly driven by the derecognition of carried forward tax losses in Singapore and the Philippines. 

In its annual report, the Australian Securities Exchange (ASX)-listed company said it had seen “solid financial results” despite a “slight” decrease in year-on-year sales. 

Normalised EBITDA fell from $1.7 million to $1.6 million. Revenue, however, grew by 7.1 per cent from $15.3 million in 2022 to  $16.4 million in financial year 2023. 

Chris King (JCurve)Credit: JCurve
Chris King (JCurve)

Broken down, revenue from JCurve and NetSuite enterprise resource planning (ERP) licenses, support and implementation in Australia made up the bulk of revenue with $11.4 million. These licenses in Asia meanwhile brought it $2.9 million. 

Telecommunications expense management solutions counted for $1 million; the Dygiq business division brought in $700,000 and its Quicta solution $300,000. 

“Despite significant work undertaken on potential acquisition opportunities in FY2023, no acquisitions were made,” chairman Mark Jobling told shareholders. “Our commitment is to only make acquisitions that add value, are reasonably priced, not acquisitions at any cost and those that have synergies with our existing business operations.” 

The new financial year recently saw JCurve appoint Salesforce’s Chris King as its new CEO, filling the role held by Stephen Canning, who had spent eight years leading JCurve until his departure in June 2023. 

Tags JCurve Solutions

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