Rewardle Holdings Limited (ASX:RXH) Announces March Quarterly Activities Update
Financial Performance
During the March quarter, Rewardle Holdings Limited (ASX:RXH) generated $4.701 million in cash receipts, resulting in $1.358 million in positive cash flow from operations. The company maintained cash and equivalents of approximately $1.0 million at the end of the period.
Growth Strategy and Partnerships
Rewardle continued to execute its growth strategy by investing operational cash flow into growth initiatives. The company advanced its Growth Services partnership with CloudHolter Pty Ltd, which raised capital at a $100 million valuation. Rewardle aims to replicate the success of this partnership by developing a pipeline of similar Growth Services opportunities.
Cash Flow Commentary
Q3 FY25 marked the 13th consecutive quarter of positive cash flow from operations. Cash receipts decreased by 40% to $4.701 million, primarily due to reduced Growth Services fees and timing of payments. Outgoing cash payments were $3.343 million, a decrease of 12% from the previous quarter.
Update on Financial Statements
Rewardle is working with its auditor to complete outstanding accounts to initiate the relisting process. The delay is due to the requirement for audited accounts for CloudHolter. The company aims to resume timely reporting as soon as possible.
Executive Comments
Founder and Executive Chairman Ruwan Weerasooriya stated, “We’re continuing to execute our growth strategy, investing the cash flow generated by leveraging our operations, resources and capabilities into growth initiatives to create a compounding growth flywheel for the business moving forward.”
“We’re very pleased with the ongoing success of our Growth Services partnership with CloudHolter and we’re looking forward to the value of our investment being unlocked for our shareholders as CloudHolter progresses its corporate strategy.”
“We’re working with our auditor to complete our outstanding accounts as soon as possible. Once complete, we will initiate the process of relisting which will allow the successful execution of our growth strategy to be appropriately reflected in the value of the Company’s shares.”
“Interested investors can reach me via email or mobile should they have any inquiries regarding our strategy, progress, and prospects.”
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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