Some of the recently recalled power bank models contain potentially faulty lithium-ion battery cells, manufacturer Anker Innovations said. https://t.co/EYEDsaTAUa ...

Core Viewpoint - Sagtec Global Limited reported strong financial results for the fiscal year 2024, achieving a record revenue of US$11.6 million, reflecting a 78% year-over-year growth, driven by robust performance across all core verticals and strategic market expansions [2][3][5]. Financial Results - Total revenue for fiscal year 2024 was US$11.6 million, a 78% increase from US$6.5 million in fiscal year 2023 [3][4]. - Revenue from services surged by 122% to US$6.9 million, while revenue from tangible products grew by 50% to US$4.8 million [4][6]. - Gross profit increased by 49% year-over-year to US$2.8 million, with EBITDA standing at US$2.1 million, reflecting a 17.7% margin [5][10]. - Net income for fiscal year 2024 was US$1.6 million, up from US$1.0 million in fiscal year 2023, with earnings per share increasing by 56% to US$0.14 [7][11]. Cost Structure - Cost of service increased by 140% to US$5.9 million, driven by higher server capacity and maintenance expenses [8][14]. - Total cost of sales reached US$8.9 million, an 89% increase from US$4.7 million in fiscal year 2023 [7][8]. Cash Position and Capital Allocation - Net cash generated from operating activities was US$1.3 million, a 134% increase from US$0.5 million in fiscal year 2023 [12]. - Cash and cash equivalents improved significantly to US$82 thousand, compared to -US$52 thousand in the previous year [15]. Strategic Focus - The company aims to accelerate expansion into key regional markets, including Indonesia and Hong Kong, to capitalize on the growing demand for its innovative solutions [2]. - Sagtec is shifting its business model away from rental services to direct machine sales, enhancing its operational efficiency [6]. Company Overview - Sagtec Global Limited specializes in customizable software solutions, primarily serving the Food & Beverage sector, and also operates power-bank charging stations across Malaysia [16].