Financial Performance - For the nine months ended February 28, 2025, the company reported revenue of S$21,758,502, an increase of 23.5% compared to S$17,614,663 for the same period in 2024[12] - Gross profit for the same period was S$10,660,450, up 26.2% from S$8,444,937, driven by increased revenue in all product segments[12] - The company achieved a pre-tax profit of S$319,711, a significant turnaround from a pre-tax loss of S$604,326 in the previous year[12] - The company reported a net profit of S$318,985 for the nine months ended February 28, 2025, compared to a net loss of S$593,658 in the prior year[15] - Total revenue for the nine months ended February 28, 2025, was SGD 21,758,502, up 23.1% from SGD 17,614,663 in the previous year[58] - Reported segment profit for the nine months ended February 28, 2025, was SGD 5,957,606, an increase of 31.2% from SGD 4,543,024 for the same period in 2024[57] Revenue Sources - Subscription and support service revenues contributed to the overall revenue increase of S$4,143,839 during the reporting period[12] - Revenue from contracts for enterprise application software solutions and energy management solutions is recognized based on the percentage of completion method, reflecting the work completed relative to total work[31] - Maintenance service revenue is recognized over time as customers simultaneously receive and consume benefits, typically invoiced monthly[32] - Subscription revenue is recognized over time as customers simultaneously receive and consume benefits, based on the number of accounts[33] - Revenue from external customers for the Simplicity segment reached SGD 20,547,390, an increase from SGD 16,626,902 in the previous year, representing a growth of approximately 23%[54] - The Starlight segment generated revenue of SGD 1,211,112, up from SGD 987,761, indicating a growth of about 23%[54] Expenses and Costs - Increased management expenses were noted due to a rise in employee numbers, inflation-adjusted salary increases, and one-time items related to the proposed privatization[12] - Operating cash flow for the nine months ended February 28, 2025, was a net outflow of S$1,574,260, an improvement from a net outflow of S$3,095,618 in the same period last year[18] - Employee costs, including directors' remuneration, increased to SGD 14,682,259 for the nine months ended February 28, 2025, from SGD 12,549,721 in the previous year, reflecting a rise of 17%[66] - Operating expenses for Q3 2025 totaled SGD 10,680,108, a 14.27% increase from SGD 9,346,733 in Q3 2024[122] - The cost of subscription and support services for Q3 2025 was SGD 9,629,288, an increase of SGD 3,271,405 or 51.45% compared to Q3 2024, primarily due to increased operational support staff and cloud computing capacity demands[123] Assets and Liabilities - Current assets totaled S$21,236,185 as of February 28, 2025, slightly up from S$21,138,626 as of May 31, 2024[16] - The company’s total liabilities decreased to S$6,303,072 as of May 31, 2024, from S$5,558,022 as of February 28, 2025[16] - The company’s net assets increased to S$18,502,110 as of February 28, 2025, compared to S$17,903,067 as of May 31, 2024[16] - Total assets as of February 28, 2025, were SGD 24,702,865, a decrease of 4% from SGD 25,729,690 as of May 31, 2024[57] - Total liabilities decreased to SGD 6,200,755 as of February 28, 2025, from SGD 7,826,623 as of May 31, 2024, reflecting a reduction of 20.7%[57] Shareholder Information - The board has not declared any dividends for the nine months ended February 28, 2025, consistent with the previous year where no dividends were declared[13] - The total number of shares issued and fully paid was 406,976,128 as of both May 31, 2024, and February 28, 2025[99] - As of February 28, 2025, the CEO and directors held a total of 60,572,000 shares, representing 14.88% of the company’s issued shares[130] - The company granted a total of 39,915,849 stock options under the post-IPO stock option plan on October 12, 2023, with 16,000,000 options awarded to two executive directors[137][139] Corporate Governance - The company is committed to fulfilling its responsibilities to shareholders through robust corporate governance practices[145] - The company has adopted and complied with all applicable corporate governance code provisions during the reporting period[145] - The audit committee has been established, consisting of two independent non-executive directors and one non-executive director, with the main responsibilities including reviewing financial statements and overseeing risk management[147] Market Strategy and Future Outlook - The company is focused on expanding its subscription and support services to sustain revenue growth in the future[12] - The company continues to explore new strategies for market expansion and product development to enhance its competitive position[12] - The company anticipates a significant increase in legal and professional fees related to the proposed privatization in the upcoming months[126]
安科系统(08353) - 2025 Q3 - 季度业绩