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.