onlyuse personalFor Interim Report
1 | Xref Limited | Interim Report 2021 |
For personal use only
Contents
For the Year Ended 31 December 2021
Financial Statements onlyDirectors' Report
Auditor's Independence Declaration under Section 307C of the Corporations Act 2001 Statement of Profit or Loss and Other Comprehensive Income
Statement of Financial Position
Statement of Changes in Equity Statement of Cash Flows Notes to the Financial Statements Directors' Declaration
useIndependent Audit Report &RUSRUDWH'LUHFWRU
personal General information
Fore financial statements cover Xref Limited as a consolidated entity consisting of Xref Limited and the entities it controlled at the end of, or during, the half-year. e financial statements are presented in Australian dollars, which is Xref Limited's functional and presentation currency.
Xref Limited is a listed public company limited by shares, incorporated and domiciled in Australia. Its registered oce and principal place of business is:
Suite 13, 13 Hickson Road,
Dawes Point, New South Wales, Australia, 2000
ACN: 122 404 666
A description of the nature of the consolidated entity's operations and its principal activities are included in the directors' report, which is not part of the financial statements.
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Directors' Report
31 December 2021
e directors present their report, together with the financial statements, for the consolidated entity (referred to hereaer as 'the
Group') consisting of Xref Limited (referred to hereaer as the 'Company' or 'parent entity') and the entities it controlled at the end of, or onlyduring, the half-year ended 31 December 2021 (H1 FY22).
Directors
e following persons were directors of Xref Limited during the whole of the financial half-year and up to the date of this report unless therwise stated:
mas Stianos , Non-Executive Chairman (Appointed on 14/10/2021)
Brad Rosser, Non-Executive Director (Resigned 26/11/2021) (Non-Executive Chairman until 14/10/2021) useLee-MartinSeymour, Executive Director
Nigel Heap, Non-Executive Director
Lija Wilson, Non-Executive Director
Principal Activities
During the financial half-year, the principal continuing activities of the Group consisted of soware development and service for the HR
industry. personalReview of Operations
Key achievements for H1 FY22 included:
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e loss for the Group for the financial half-year aer providing for income tax amounted to $36,987 (H1 FY21: $1,987,182), an improvement of 98%.
Xref continues to execute a data-drivenmulti-channel marketing strategy generating 3,200 leads during H1 FY22, up 124% from the same period in the previous year.
ForXref's growth trajectory continued throughout H1 FY22. e first half is traditionally the Company's lowest sales period due to seasonal fluctuations in the Australian recruitment industry following the financial year-end and the summer holiday season in the Northern Hemisphere. However, Xref achieved a record first-half revenue of $8.9 million, resulting in 73% growth compared to the same period last year.
e evolution of Xref's business reflects the leadership team's unwavering focus on achieving positive free cash flow.
4 | Xref Limited | Interim Report 2021 |
Operating Results
onlyFinancial Summary Total revenue
EBITDA
NPAT
Net cash generated from/(used in) operating activities
useBusiness Results Xref revenue Rapid ID revenue Total revenue
Cost of sales
personalOPEX
Share based payments
Total expenses
Other income
Depreciation and amortisation
Operating profit
Finance income
Finance expense
Net profit/ loss aer tax
ForEBITDA
Net profit/(loss)
Add back: net interest income and expense
Add back: net depreciation and amortisation
EBITDA
31 December | 31 December | |||
2021 | 2020 | % Change | ||
8,873,451 | 5,139,669 | 73% | ||
468,476 | (1,552,769) | 130% | ||
(36,987) | (1,987,182) | 98% | ||
2,292,485 | (538,637) | 526% | ||
31 December | 31 December | |||
2021 | 2020 | % Change | ||
7,030,558 | 4,489,110 | 57% | ||
1,842,893 | 650,559 | 183% | ||
8,873,451 | 5,139,669 | 73% | ||
(2,207,836) | (994,980) | 122% | ||
(5,845,221) | (5,930,455) | -1% | ||
(448,386) | (321,108) | 40% | ||
(8,501,443) | (7,246,543) | 17% | ||
96,468 | 554,105 | -83% | ||
(212,623) | (227,400) | -6% | ||
255,853 | (1,780,169) | 114% | ||
3,016 | 8,717 | -65% | ||
(295,856) | (215,730) | 37% | ||
(36,987) | (1,987,182) | -98% |
(36,987) | (1,987,182) | 98% | ||
292,840 | 207,013 | -41% | ||
212,623 | 227,400 | 6% | ||
468,476 | (1,552,769) | 130% |
5 | Xref Limited | Interim Report 2021 |
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Xref Limited published this content on 28 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 February 2022 01:51:02 UTC.