bullish
WRKR Ltd - All systems go for FY25
SUMMARY
- RaaS has published an update on superannuation and payroll compliance solutions business Wrkr (ASX:WRK) following its Q4 FY24 results in which it delivered a record Q4 quarterly cash receipts (up 56% on the pcp) and positive operating cash flow of $0.326m for Q4 and $0.791m for H2 FY24.
- Our numbers and analysis suggest an EBITDA positive H2 FY24 ($0.4m) and in FY25.
- We (and management) remain confident of positive FY25 EBITDA, the question is how positive and what projects may slip from FY25 to FY26 in our assumptions.
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