Flexiroam achieves positive cash flow in 2Q19 | Digital Asia

News Update

  • From negative flow of AU$275,000 in 1Q19 to a positive AU$84,000 in
  • Increase of 64% and 170% in overall subscribers and total users respectively

FLEXIROAM Limited, a global data solution provider listed on the Australian Stock Exchange, has announced positive net cash flows for the first time in 2Q19 with AU$84,000 (US$59,868), attributing this to improved consumer and corporate sales.

In 1Q19, the company reflected a negative cash flow of AU$275,000 (US$195,997). The company experienced a significant 188% increase in cash receipts to AU$3.5 million in the half year ended Sept 30, 2018, compared to AU$1.2 million in the same period last year.

’s customer base experienced with a 64% increase in overall subscribers to 168,920. Meanwhile, total users increased by 170% from 26,444 to 71,311 in comparison to the corresponding previous half year.

Additionally, the company also raised AU$1.16 million through a private share placement in August 2018.

Flexiroam’s customer base now spans 190 countries with the top five countries being Malaysia, , Indonesia, the United Arab Emirates and Brazil.

The founder and managing director, Jef Ong, commented: “With the momentum we have generated, I am highly optimistic about the performance for FY2019. We remain focussed on executing the strategies we have put in place to scale globally.”

Flexiroam achieves positive cash flow in 2Q19 | Digital Asia 1

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