Here is a summary of the H1 2024 interim financial report for Datalex PLC
For the six months ended June 30, 2024, Datalex PLC reported a 3% increase in revenue year-over-year, totaling $13.2 million. This growth was driven by a 14% increase in platform revenue, offset partially by an 11% decline in services revenue due to customer terminations in the prior year. Gross profit saw a significant improvement, increasing by 25% year-over-year to $3.8 million, with a gross profit margin of 28.7%, a 5-percentage-point improvement. Adjusted EBITDA loss improved by 37% to $2.0 million, and the loss after tax remained relatively stable at $6.1 million.
The company attributes these results to the ongoing activation of product capabilities with new customers and the migration of existing customers to its latest product platform. Additionally, Datalex has announced a capital raise of approximately €25 million to support working capital requirements and debt repayment. The report also highlights the companys focus on optimization and creating efficiency in its operating model.
Looking <mark style="background-coloryellow">ahead</mark>, Datalex expects continued platform revenue growth and gross margin expansion, despite non-recurring revenue from 2023 creating a drag on year-over-year growth in 2024. The company remains committed to its strategic milestones and enabling its airline customers to unlock value through improved retailing capabilities.
| Metric | H1 2024 (US$'000) | H1 2023 (US$'000) | YoY Growth (US$'000) | YoY Growth (%) |
|---|---|---|---|---|
| Revenue | $13,210 | $12,867 | $343 | 3% |
| Platform Revenue | $7,212 | $6,342 | $870 | 14% |
| Services Revenue | $5,453 | $6,137 | ($684) | 11% |
| Consultancy Revenue | $545 | $388 | $157 | 40% |
| Gross Profit | $3,787 | $3,018 | $769 | 25% |
| Gross Profit Margin | 28.7% | 23.5% | 5% | 22% |
| Adjusted EBITDA | ($1,963) | ($3,109) | $1,146 | 37% |
| Loss after tax for the period | ($6,062) | ($6,158) | $96 | 2% |