bullish
WRKR Ltd - Solid quarter amidst new client onboarding
SUMMARY
- RaaS has published an update on superannuation and payroll compliance solutions business Wrkr (ASX:WRK) following its Q1 FY25 results in which it delivered +22% in cash receipts and just +4.5% in cash outflows.• We have made timing adjustments to costs in FY25 which has resulted in our revenue forecasts reducing 13% and EBITDA by 65%.
- We still expect positive EBITDA and operating cashflow over FY25 and make no changes to medium-term estimates.
- The Q1 FY25 cash burn including capitalised expenses represents 14 quarters of runway by RaaS calculations.
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