Qoria Ltd

collections, coming in at $46.3 million, which is 23% up on last year's Q1. We've gone to the market to a 20% increase PCP on this half's cash collections, and obviously we've been set up well there. ARR growth is very strong, K12 BISM. We've gone through what was a massive sales period June last year. Chris Winston's team have done an outstanding job, not only selling new low, but we're seeing signs of a real uptick in cross and up sales, which is really important for the future of this business. We'll talk about that in coming quarters about our cross-sell journey, products per customer, metrics like that. You'll hear a lot about that from us soon. But again, a highlight, which we've talked about for a couple of quarters now, is custodial. Now we're putting a little bit more money into that business. It is taking off with ARR growth across the group of 25% year-on-year, but the custodial business growing at 33% on an annualised basis. Generated free cash flow of nearly $12 million, which is 50% up on last year. And we're not only reiterating the guidance that we provided last quarter, but we've now upgraded the guidance to $145 million. So, yeah, a fantastic start to the year. Let's go through it a little bit more detail. You know, I think it's, again, worthwhile highlighting not just the financial results, but we're literally impacting lives of people Communities across the globe and schools over a million parents help, sorry, rely on us to look up the 27 million kids more, our platforms, and there are Australians in the world. And we make every couple of hours. So everyone who's an investor in our business, thank you so much for your contribution. From a kind of key metrics perspective, nearly We're touching on $150 million today. Cash receipts, $46 million, which is higher than I think was most analysts expected, generating, delivering for us $12 million of free cash flow. We ended the quarter with $24 million of cash in net debt, comfortably under $30 million. And we'll just put a highlight here, with the pipeline being largely emptied and generating Crispin's marketing and sales teams have done an outstanding job on that and, in fact, have generated a record pipeline of that at the moment. All segments, except for maybe the UK, but we've spoken about the UK, will have access to all of our products. By starting in March with the kind of launch of the Coria platform, most of the U.S. products will be sold in the UK. So, Very excited about the back end of next year in the UK and beyond being a growth market. But outside of that, all comfortably north of 20%. And custodial last 12 months, 26%. But in the last quarter, the growing price was 33%. So U.S. is questionably the dominant part of our revenue. And if you include half of custodial, which is U.S. denominated, that's comfortably north of half of our revenue now denominated in U.S.

dollars.

This is probably a clearer view of vision to our ARR growth. We had a little bit of volatility through that, but over the quarter, it only negatively impacted ARR. Main contributions is new logos in K-top. Existing customers nearly caught up with new logos across all market sales, nearly caught up with new logos as well. Had a bit of churn. I think Ben might touch on this, but we've decided to focus the opticals business on our new product. So we've brought forward some churn in that business with GoToProducts. So that's all very well managed, still comfortably around 1% or less churn in the K12 business. And Custodio added 1.4 million, which is a massive increase on where they were last year. This chart shows, I love this showing, is the the cash collections that we deliver each year over the last four years. And you can see the clear goals in our invoicing and cash collections. But you can most importantly step change in our essentially the revenue invoicing and collections in our business every year. So I think it's a fantastic graph. And so you would expect our Q2 December quarter collections to be significantly above the $30 million that you've got here.