Financial Performance - For the nine months ended February 29, 2024, Anacle Systems Limited reported revenue of S$17,614,663, an increase of 12.9% or S$2,013,606 compared to S$15,601,057 for the same period in 2023[17] - Gross profit for the same period was S$8,444,937, up from S$7,419,663, reflecting a gross profit increase of 13.8%[17] - The pre-tax loss narrowed to S$604,326 from S$768,235 year-over-year, indicating improved financial performance[17] - Revenue growth was primarily driven by the Simplicity® real estate segment, which saw an increase of S$3,255,108, although this was partially offset by a decrease of S$1,330,539 in the digital workplace and utilities segments[17] - Revenue for the three months ended February 29, 2024, was S$6,397,924, a decrease of 17.6% compared to S$7,761,962 for the same period in 2023[21] - The company reported a pre-tax loss of S$604,326 for the nine months ended February 29, 2024, compared to a loss of S$768,235 for the same period in 2023[21] - The total comprehensive loss for the nine months ended February 29, 2024, was S$605,496, compared to a loss of S$800,234 in the previous year[21] - The basic and diluted loss per share for the three months ended February 29, 2024, was S$0.04, compared to earnings of S$0.45 in the same period last year[21] - Basic loss per share for the nine months ended February 29, 2024, was SGD 0.15, compared to SGD 0.19 for the same period in 2023, reflecting a decrease in loss of 21.1%[10] Revenue Segments - Revenue from external customers for the Simplicity segment was SGD 16,626,902 for the nine months ended February 29, 2024, compared to SGD 14,702,333 for the same period in 2023, representing a growth of approximately 13.1%[65] - Revenue from external customers for the Starlight segment was SGD 987,761 for the nine months ended February 29, 2024, compared to SGD 898,724 for the same period in 2023, indicating an increase of about 9.9%[65] - Revenue from maintenance services increased significantly to SGD 6,095,606 for the nine months ended February 29, 2024, compared to SGD 3,871,897 in the same period last year, representing a growth of 57.5%[68] - Simplicity® total revenue grew by 13.1%, reaching SGD 16,626,902, driven by an increase in implementation revenue by 34.0% to SGD 3,111,699[86][87] - Starlight® total revenue increased by 9.9% to SGD 987,761, with hardware leasing revenue rising significantly by 386.4% to SGD 188,875[89][90] - Simplicity® recurring revenue rose by 9.2%, totaling SGD 13,515,203, attributed to ongoing system enhancements and a shift towards SaaS[86][94] Expenses and Costs - Operating expenses for the nine months increased to S$2,181,329, up 10.1% from S$1,980,518 in the previous year[21] - Employee costs, including directors' remuneration, increased to SGD 4,451,369 for the three months ended February 29, 2024, from SGD 3,844,027 in the previous year, reflecting a rise of 15.9%[75] - The company incurred financial costs of SGD 89,960 for the nine months ended February 29, 2024, compared to SGD 54,182 in the previous year, marking an increase of 65.9%[74] - Total sales cost increased by 12.1%, amounting to 988,332 SGD, with Simplicity® sales cost rising by 12.9% to 8,697,436 SGD[97] - Administrative expenses increased as a percentage of revenue from 28.3% in Q3 2023 to 28.5% in Q3 2024 due to inflation adjustments and depreciation[102] Market Expansion and Strategy - The company is expanding into the Australian and Japanese markets, which has contributed to increased expenses[19] - The company established a new office in Japan in November 2023, aiming to enhance sales and marketing efforts in the region[92] - The company continues to invest in product improvements and cloud computing to enhance security features for Simplicity®[103] - The company held a technology event in July 2023 to support market expansion efforts[101] - The overall economic environment is expected to impact the company's revenue growth in the short term, particularly in the commercial and public sectors[92] Accounting Policies - Anacle Systems Limited reported unaudited consolidated financial results for Q3 2023/24, with a focus on lease liabilities and right-of-use assets accounting policies[41] - The company recognizes lease liabilities at the present value of unpaid lease payments, using the implicit rate or incremental borrowing rate if the implicit rate is not readily determinable[36] - Revenue from enterprise application software solutions and energy management solutions is recognized based on the percentage of completion method, with invoicing typically occurring within 90 days[45] - Maintenance service revenue is recognized over time as customers simultaneously receive and consume benefits, with invoicing on a monthly basis[48] - Subscription revenue is recognized over time based on the number of accounts, with no variable consideration in standard contracts[49] - Hardware sales revenue is recognized when the customer takes possession and accepts the product, with invoicing typically occurring within 30 days[50] - Rental income from hardware leases is recognized on a straight-line basis over the lease term[51] - Interest income is recognized using the effective interest method, discounting future cash flows to the financial asset's carrying amount[52] - The company has chosen not to capitalize low-value assets and short-term leases, recognizing lease payments as expenses on a straight-line basis[34] - Anacle Systems Limited's accounting policies reflect a commitment to transparency and adherence to IFRS standards in revenue recognition and lease accounting[44] Shareholder Information - As of February 29, 2024, major shareholders include Huang Yanyan with a beneficial interest of 60,572,000 shares, representing 14.95% of the company's issued shares[115] - Majuven Fund 1 Ltd. holds 36,528,219 shares, accounting for 9.01% of the total issued shares[115] - OWW Investments III Limited has a beneficial interest of 20,873,307 shares, which is 5.15% of the company's issued shares[115] - The total number of issued shares as of February 29, 2024, is 405,279,683 shares[116] - The board decided not to declare any dividends for the nine months ending February 29, 2024, consistent with the previous year where no dividends were declared[130] Audit and Compliance - The audit committee, established on November 24, 2017, consists of two independent non-executive directors and one non-executive director, with Mr. Mo Wei Sheng as the chairman[131] - The financial statements for Q3 2023/24 have not been audited by the company's auditors but have been reviewed by the audit committee[131]
安科系统(08353) - 2024 Q3 - 季度业绩