Plexure Group Limited (NZX: PX1) Surpasses Market Guidance

Tuesday 9th March 2021

As part of its capital raise and secondary listing on the ASX, Plexure Group Limited provided the market with financial guidance on 11 November 2020. Plexure now expects to surpass that guidance based on its unaudited forecast:

- Total revenue for the year ended 31 March 2021 is expected to be $29.2m, $0.2m (1%) above the November 2020 ASX forecast of $29.0m and $4.0m, or 15.8%, ahead of the March 2020 result, subject to any major movements in the New Zealand dollar.

- Costs incurred since the November 2020 forecast have been lower than anticipated, principally due to a slower ramp-up in headcount numbers.

- Forecast EBITDA loss of $5.6m is 20%, or $1.4m, less than originally forecast.

Revenue from licences is expected to be 4%, or $0.7m, below the original forecast, however this has been offset by an increase in services revenue of 9%, or $0.9m. The net result being that total revenue of $29.2m is 1%, or $0.2m, above the original ASX forecast. Platform costs are 4%, or $0.4m, above the ASX forecast. The ASX forecast also included a positive impact of $0.2m from a lease change that has not eventuated. Other expenses that have been lower than anticipated include business development costs, office expenses and general expenses. ASX listing costs were also higher than originally forecast.

Overall, the impact of slightly increased revenue, offset by lower expenditure has meant that the forecast EBITDA loss of $5.6 m is 20%, or $1.4m, less than originally forecast. Note that all numbers provided for the year ended 31 March 2021 are unaudited.

Please see the link below for details:

Plexure Market Update

Source: Plexure Group Limited

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