Today we are pleased to report our full year FY21 earnings to 30 June 2021.
We are proud to demonstrate we are well positioned to achieve strong growth in the coming years and to meet the environmental intelligence needs of customers globally in FY22.
Envirosuite delivered annual recurring revenue (ARR) of $46.5m. Gross margin increased to 42.4% in FY21, up from 31.0%. COVID-19 impacted Envirosuite’s top line progress in the first six months of FY21, however in the second half Envirosuite delivered its strongest ever half year with $4.4m in new ARR orders. Total revenue doubled from $23.8m in FY20 to $48.6m in FY21. The FY21 results reflect the continued positive momentum for Envirosuite globally against the COVID-19 backdrop.
Performance highlights FY21:
Total revenue of $48.6m for FY21 of which 83% was recurring, more than doubling the revenue reported in the prior year
Gross margin continued to improve with gross margin of 42.4% compared with 31.0% in prior year
Operating expenses represented 66% of revenue compared with 107% in prior year
Adjusted EBITDA loss of $4.5m with the Group generating a positive Adjusted EBITDA in the 4th quarter
Total number of sites increased from 329 in FY20 to 373 in FY21, representing an increase of 13.4%
Strong growth for EVS Omnis achieving 24% growth in ARR, while EVS Aviation remained resilient with a 2% growth in a challenging environment
Operating Results
Access the full 2021 Annual Report on the ASX here.
Resilience leads to 8% growth of ARR during remarkable year
The past year has proven the resilience of our people, customers and business to show strong growth of 8% in ARR during a remarkable year. FY21 demonstrated the importance of the environment and its intersection with industry and community. It was also a year of growth and transformation for Envirosuite to set us up for long-term success. We play a vital role for our customers and society in providing environmental intelligence technology that produces real-time, predictive and optimisation value.
Globally, the growing importance of ESG, the advancement of the UN’s Sustainable Development Goals, and the recent US$1 trillion Biden infrastructure bill, all create strong tailwinds for Envirosuite in FY22 and beyond. The value and importance of environmental intelligence for the world is accelerating and the time for Envirosuite is now.
Harness the power of Environmental Intelligence
Founded in Australia and trusted around the world, Envirosuite supports the leading operators in airports, cities, construction, mining, heavy industry, waste and water to realise the full potential of their assets through the power of environmental intelligence.
