bullish
Readcloud Ltd - Solid FY24 result a platform for growth
SUMMARY
- RaaS Research has published an update on edtech group ReadCloud (ASX:RCL) following its FY24 result in which it grew revenue by 15% and in line with our forecasts and positive underlying EBITDA of $0.4m, a $1.1m turnaround and ahead of our forecast for $0.1m.
- The company has delivered on all stated FY24 targets, providing a platform for sustained profitable growth over the coming periods.
- Management has pointed to 15% compound organic revenue growth out to FY26 to be complemented by further operating leverage and positive cash generation.
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