OneSoft Solutions Reports Q4 and Annual Results for Fiscal 2023 and Reiterates Fiscal 2024 Guidance - Seite 3
- The Company published its Fiscal 2024 financial guidance on February 20,2024.
FISCAL 2024 outlook
Fiscal 2023 was a pivotal year for OneSoft, with the Company achieving its key objectives of: (a) exceeding $10 million revenue; (b) achieving near zero Adjusted EBITDA for the year; and (c) gaining more traction to become the next generation data management and analytics platform for the O&G pipeline industry. Management believes the Company has securely crossed the new technology adoption chasm wherein its technology and solutions have been strongly validated by industry innovators and visionary early adopters. The Company's 2024 objectives include completing the new functionality modules currently under development, integrating them into the CIM platform and advancing its role as the sole SaaS vendor to fulfill customers' functionality requirements regarding data management and analytics. Recent new customer acquisitions confirm that the Company has successfully progressed to attract pragmatic customers, who are generally more conservative in their adoption of new technology and represent the majority of opportunities in the marketplace.
We reiterate our Fiscal 2024 revenue guidance of $15 million to $16 million, as published in our February 20, 2024 news release, representing a 44% to 54% increase, respectively, over Fiscal 2023 revenue. Most of 2024 revenue is expected to come from increased use of our SaaS solutions due to existing and new customers onboarding more pipeline miles and commercialization of some of the new modules that are under development. The Company intends to invest in sales and marketing to pursue new customers in South America and Europe in 2024, as well as seek relationships with industry partners who can assist us to broaden the adoption of our solutions world-wide.
The Company is also investigating alternatives to accelerate revenue growth and business development, potentially through synergistic M&A activities. Management is optimistic that OneSoft is well positioned to capitalize on its first mover technology advantage to deliver enhanced benefits to customers and increase value for shareholders.
Given the current business and operational plans for fiscal 2024, management does not anticipate raising additional capital to execute its current business plan.
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WEBCAST: FISCAL 2023 FINANCIAL RESULTS CONFERENCE CALL:
When: | APRIL 2, 2024 9:00 AM Mountain Time |
Webcast URL: | https://www.webcaster4.com/Webcast/Page/3031/50264 |
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Toll Free: 888-506-0062 |