bullish
Rent.com.au Ltd - Cash Burn Slowing, Annuity Revenue Growing
SUMMARY
- Rent.com.au Limited (ASX:RNT) is a purpose-led company seeking to empower home renters through its technology platform and a growing number of aligned transactional services.
- The company has provided a trading update at its annual general meeting, noting that cash burn has slowed, with reductions in discretionary spend.
- The company also highlighted that revenue from annuity income streams was growing and now around 13% of total revenue, compared with 7% in H1 FY23 and 10% in H2 FY23.
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