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Stuart Green, CEO of ZOO Digital #ZOO discusses their final results reporting double digit percentage gains on revenue & profit confirming the significant progress they are making towards their medium term $100m sales target.
Key Financials
· Revenue grew organically by 78% to $70.4 million (FY21: $39.5 million)
· Adjusted EBITDA* grew to $8.3 million (FY21: $4.5 million) - EBITDA* margin increased to 11.8% (FY21: 11.5%)
· Operating profit of $3.1 million (FY21: $1.0 million)
· Reported profit before tax of $1.1 million (FY21: loss of $3.6 million) after non-cash fair value movement on embedded derivative of $1.6 million
· Net cash at year end $6.0 million (FY21: $2.9 million)
· Completion of a $10.1 million placing in April 2021 to fund accelerated growth, deployed in global expansion efforts, particularly Korea, Turkey and India
· Conversion of the 7.5% unsecured convertible loan stock into 5,273,959 new shares, removing the majority of Group borrowings from balance sheet and associated interest payments