Bigtincan Holdings Limited (ASX:BTH), a global leader in AI-powered sales enablement automation, is excited to announce a significant corporate and business update ahead of its Annual General Meeting scheduled for November 29.
Financial Outlook for FY24 Following a strategic restructure announced in September 2023, Bigtincan is pleased to project a robust financial outlook for FY24:
- Revenue: Expected to be in the range of $123m - $130m.
- EBITDA: Anticipated to be between $10m - $12m.
- Adjusted EBITDA: Forecasted to exceed $15m.
- Cash Flow: Projected to be positive throughout FY24.
These projections represent a substantial improvement and are a testament to Bigtincan's commitment to growth and profitability.
Customer Deployments and EBITDA Improvements With over 2,000 customer deployments, including many household names, Bigtincan is poised to deliver significant EBITDA improvements in FY24. The company is strategically positioned for accelerated growth in FY25 and beyond, backed by a dedicated and experienced team.
Core Product Line Progression In FY23, Bigtincan focused on enhancing its core product areas, notably its multi-hub offering, which has seen substantial advancement in 1H FY24 with over 20 new capabilities. The company's business plan for FY24 and FY25 revolves around the Bigtincan Intelligent Enablement Platform (IEP), a pioneering solution integrating Learning, Content, and Engagement.
EBITDA Improvement and Operating Expense Adjustments Bigtincan projects an EBITDA improvement from ($4.9m) in FY23 to $10-12m in FY24, with Adjusted EBITDA exceeding $15m. This improvement is attributed to stable revenue streams, cost base adjustments, and a focus on core products. Operating expenses have been optimized across various sectors, including a reduction in capitalised software development by approximately 40% from FY23.
Cash Flow and Cost Management In 1H FY24, Bigtincan's Board and management have successfully implemented strategies to reduce operating expenses, focusing on core platforms and achieving cash EBITDA growth. The company is on track to be free cash flow positive in FY24.
Technology Advancements Bigtincan continues to innovate with its GenieAI technology, integrating AI into various products. The company anticipates AI-driven revenue to significantly contribute to the business in 2024. Key development areas include SearchAI, Voice Analytics, Intelligent Role Play, Content Automation, and advancements in Spatial Computing, including XR/VR.