Revenue and Income - Revenue for the year ended December 31, 2022, was AUD2,327,058(approximately1,580,881), a decrease of AUD1,251,545or353,578,603 in 2021 due to supply chain challenges [224]. - Interest income surged to AUD168,843(approximately114,703) in 2022, a significant increase of AUD167,263or7,2601,580 in 2021, attributed to short-term deposits from the August 2022 IPO [226]. - Foreign exchange gains were AUD1,175,735(approximately798,733) in 2022, compared to AUDnilin2021,reflectingfavorablecurrencyexchangeratechanges[227].−FairvaluegainsfromfinancialliabilityamountedtoAUD3,768,466 (approximately 2,560,099)in2022,comparedtoAUDnil in 2021, linked to the revaluation of warrants from the August 2022 IPO [228]. - Government grants from IIA increased to AUD923,033(approximately627,060) in 2022, up AUD135,489or17787,544 in 2021 [225]. Expenses - Total expenses increased to AUD7,807,135in2022,upAUD1,987,312 or 34% from AUD5,819,823in2021,drivenbyhighersalesandmarketing,andgeneraladministrativecosts[230].−SalesandmarketingexpensesrosetoAUD2,464,936 (approximately 1,674,550)in2022,anincreaseofAUD772,862 or 46% from AUD1,692,074in2021,duetoexpandedactivitiesintheUSandEurope[231].−GeneralandadministrativeexpensessurgedtoAUD2,690,920 (approximately 1,828,071)in2022,anincreaseofAUD1,260,058 or 88% from AUD1,430,862in2021,primarilyduetocostsrelatedtotheIPO[233].ProfitandLoss−Grossprofitfor2022wasAUD1,443,575, down AUD891,445fromAUD2,335,020 in 2021, with a gross margin of 62% compared to 65% in 2021 [229]. - As of December 31, 2022, the company incurred a net loss of AUD341,469(approximately231,978) and has accumulated losses of AUD24.1million(approximately16.3 million) since inception [249]. Cash Flow and Financial Position - As of December 31, 2022, the company had cash and cash equivalents of AUD19.0million(approximately12.9 million) and receivables of AUD828,351(approximately562,740) [250]. - For the year ended December 31, 2022, net cash used in operating activities was AUD4,468,304,anincreasefromAUD1,806,179 in 2021, primarily due to decreased receipts from customers and increased payments to suppliers [254]. - Net cash provided by financing activities for the year ended December 31, 2022, was AUD19,475,174,significantlyhigherthanAUD3,368,358 in 2021, mainly due to proceeds from the August 2022 initial public offering [257]. - For the year ended December 31, 2022, net cash used in investing activities was AUD26,628,aslightdecreasefromAUD30,534 in 2021 [256]. - The company estimates it has adequate financial resources for at least 12 months from December 31, 2022, based on current cash and trade receivable balances [250]. - The company is exposed to liquidity risk but believes existing funds will cover operating expenses and capital expenditures for the next twelve months [413]. - The company may need to seek additional funds in the future, depending on its ability to generate significant recurring revenues [251]. Economic and Risk Factors - The company continues to monitor macro-economic conditions, including inflation and supply chain issues, which may impact operations and cash flow [263]. - The company does not currently hedge foreign currency exchange risk but may consider formal currency hedging transactions in the future [411]. - The company has contractual obligations totaling AUD$743,123 as of December 31, 2022, primarily related to operating leases and employee benefits [260].
