ARN

Skyfii revenue up 50 per cent

Earnings expected to reach $600,000

Publicly-listed Skyfii has closed the 2019 financial year with total operating revenues of $9.4 million, or a 52 per cent growth compared to the previous reporting year, according to its unaudited results.

With recurring revenues also up by 50 per cent, or $5.1 million, the company expects its earnings before interest, tax, depreciation (EBITDA) and amortisation to be $600,000.

Skyfii told shareholders that it expects to see a "significant" contribution from North America and EMEA as it invests in its "operating model" to support that growth.

Skyfii said it has succeeded in diversifying its product and service offering to include analytics reporting from new data sources, including People Counting technology, 2D and 3D cameras, point of sale terminals, mobile applications, live weather and social media.

"The inclusion of new data sources provides a clear competitive advantage and increases the opportunity to sell through additional products and services to our current and prospective customer base. Skyfii is well positioned to become the preferred omnidata intelligence partner for physical venues globally," Skyfii stated.

Skyfii has signed several deals throughout FY19 including a five-year deal to provide its software-as-a-service solution to the Sydney Cricket Ground (SCG).

It also signed a three-year contract with Fortius Funds Management to collect and analyse data via guest Wi-Fi access at the investment firm’s mix-used properties in central Sydney and Albany Creek Village, outside Brisbane.

The data intelligence company also won a three year deal with the National Library of Australia (NLA) in Canberra to deploy its IO platform services. NLA is the country’s largest reference library that collects, preserves and displays documentary resources, attracting more than 1.3 million visitors yearly.

In May, Skyfii announced plans to acquire Melbourne-based customer insights company Beonic Technologies for $1.66 million, with the deal closing on the new financial year.