STG Quarterly Activities and 4C FY24 Q2

We report our Q2 FY24 quarterly activities (three months ended 30 September 2023). Cash receipts were NZ$15.87 million (up 34% on the preceding quarter, substantially ahead of Revenue), Revenue was NZ$12.4 million (down 5% on the preceding quarter and 12.5% on the prior corresponding period as cautious market conditions persisted), Gross Margin was 63.3% (up 458bp on the preceding quarter, up 780bp on the prior corresponding period), Adjusted EBITDA (unaudited) was NZ$1.2 million (versus -NZ$1.0m pcp), Operating Cash Flow was NZ$2.8 million, and Free Cash Flow was a record NZ$1.95 million.