Pureprofile reveals record quarterly revenue, up 26% to $8.2m in Q2
Consumer research, data and insights company Pureprofile has revealed a record quarter for revenue, announcing a 26% increase to $8.2 million for Q2 of FY21.
In its quarterly results presentation, Pureprofile revealed that its recapitalisation plan has been successfully completed, with $3.5 million in new cash raised and debt facility reduced from $25 million to $3 million.
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Net cash from operating activities for Q2 FY21 was an outflow of ($301,000), an improvement of $179,000 on Q2 FY20.
Operating cash flow was impacted by the timing difference of payments made to the ATO of $355,000 (Payments for administration and corporate costs). Payments made to related parties for Q2 FY21 were $133,000.
Looking deeper at a significant upturn in EBITDA, which was up 866% to $0.7 million Pureprofile said its growth had been driven by strong performance in all business units.
In its ASX announcement, Pureprofile said this quarter’s performance “was well ahead of expectations for the quarter, leaving the company well placed for the remainder of the 2021 fiscal year and beyond.”
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In addition, the appointment of Martin Filz as its CEO in July of 2020, almost a year after its last CEO Nic Jones stepped down, was credited with being part of the reason the company was able to attract new revenue accretive talent and win customers.
Other initiatives that contributed to growth in revenue and EBITDA were listed as maintaining staff on reduced salaries, continued investment in client-facing and revenue-generating capabilities with new hires in sales teams, and an increase in Pureprofile client spend as they sought to use data to understand the impact of COVID-19 on consumer preferences.
In a statement, Pureprofile added: “Looking forward the company is well-positioned to take advantage of the impact privacy legislation is having on the ability for companies to generate their own insights and intelligence around theirs and competitor consumers.
“This is resulting in new and exciting data partnership discussions within existing and new markets resulting in a very healthy pipeline.”
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Zanda Wilson was a reporter and podcast producer at Mumbrella, specialising in radio reporting. He left Mumbrella in September 2021.
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