Winners and Losers: Prophecy foresees profitable future
Software developer Prophecy International peered into its crystal ball and has seen expectations of positive FY24 cash flow.
Prophecy International was a Winner this week, after its crystal ball showed a strong future for its subscription revenue. Photo: Unsplash.
Business software developer Prophecy International expects cash flow to be positive in the current financial year and last week announced it locked in key clients to boost its annual recurring revenue (ARR) to $27.6 million.
Per its third-quarter business growth update, the CBD-based company said consistent sales growth continued to underpin growth in its base of contracted annualised revenue.
As of 31 March, the company’s base of contracted ARR had grown to $27.6 million (up by 20 per cent year on year).
This includes $1.6 million generated from customers currently in deployment from its partnership with Devo Technology that Prophecy announced back in January.
“Once Devo accounts are fully deployed the contracted ARR for the group will exceed $30 million,” said the company, which develops event monitoring software Snare and contact centre management program Emite.
The update encouraged shareholders and pushed the company into the top five Winners for the last days of trading.
Iron miner Magnetite Mines clinched the top spot last week after publishing its third quarter activities report, and was followed by Axiom Properties which rose nearly 17 per cent over the five days.
Mayfield Group and Iron Road rounded out the top five.
Koonenberry Gold landed the number one Loser spot for the week and tumbled 25 per cent after raising capital to complete a $2.35 million raise.
Sparc Tech was second and was followed by Elixir Energy which emerged from a trading halt to release its quarterly report for the period ended 31 March 2024.
Elixir said its Daydream-2 gas project contributed to a quarter of “intense analysis and preparation for the next phase”.
Notably, Elixir said there was a small delay in the Daydream-2 project because of contract scheduling and other operational issues.
Resolution Minerals and Neurizer rounded out the bottom five for the week.
As for the next five days of trading, Baker Young Limited analysts said 113 companies will provide updates at the annual Macquarie Conference, so expect plenty of volatility this week.
The full list of Winner and Losers for the week ending 3 May:
Data courtesy of Baker Young Limited analysts.
