Transcript of the quarterly update
Please note that this transcript has been edited slightly for readability.
Welcome shareholders to the Gooroo Ventures Q2 FY2019 investor update. There are three things that I'd like to cover off with you today.
First, our financial performance for quarter two.
Second, sales and contracts.
And finally, our priorities for this next year.
Before I get started, I'd like to wish you, your family, and your business all the success in 2019.
2018, for Gooroo, saw an accelerated commercial program, the release of new products, the learning from our customers about what's working and how to best accelerate Gooroo within their business, and also position our business for growth and performance in 2019.
Financial performance for Q2
As you will have read in our last ASX announcement, we're expecting to report a 20% revenue uplift for this last quarter. That represents a continued growth in revenue, and we're expecting that to continue. From an expense profile perspective, we are maintaining a prudent cost-management regime as we push toward cash flow positivity.
During November and December, we completed a private placement for $550,000, and now there's an opportunity, as a shareholder, to participate in a eight for one non-renounceable rights issue. I encourage you to participate and continue on the journey with us.
New sales and contracts
I'd like to highlight two recent deals we've completed and give you some background as to who we're targeting and why, and what this means to the company.
Let me talk about PeoplePlus, and the deal we announced back in December. PeoplePlus is a leading provider of job services for the Australian government. Gooroo is providing much-needed intelligence and matching technology to both careers and to jobs for the long-term unemployed in this country. Gooroo is going to share in the revenue generated by PeoplePlus. With thousands of people going through this program every year, Gooroo expects that over the next one to two years this contract will be a significant one for our company.
The second contract I'd like to discuss is Davidson. Davidson are a national recruitment executive search and consultant group. In addition to using Gooroo internally for their customers, they are also applying Gooroo technology and selling Gooroo technology into their client businesses to support them on their transformation journey.
Deals like PeoplePlus and Davidson are great examples of the deals that we expect to continue to announce.
Finally, our priorities moving forward.
Revenue growth, both direct to customer and via our partners.
Our partners themselves, and increasing our partner channel. It is these organizations that have the relationship and the trust with those organizations that need to be using Gooroo technology. They act as our sales channel, but also our implementation partner.
International expansion efforts are well underway, and you should expect to hear more about this over the coming period.
Speeding up the path to adoption and value for our customers because, by doing so, it drives benefit to our customers, and also, to Gooroo.
Clarifying and refining our value proposition to both customers and to investors. You're going to hear more about that shortly.
Thank you, investors, and again, best wishes for 2019. As always, if you have any questions, please don't hesitate to contact me.