TASK GROUP HOLDINGS LIMITED ersonal use only
1 H F Y 2 4 R E S U L T S B R I E F I N G
TASK Group Holdings Ltd
Held on:
21 November 2023, at 9am AEDT
Webcast:https://loghic.eventsair.com/tsk-investor-briefing/register/Site/Register
Copyright © 2023 Task. All rights reserved.
W E L C O M E
Agenda
only | • | Highlights |
ersonal use | • | Business Update |
• | 1H24 Financial Results | |
• | Shareholder Questions | |
Daniel Houden | Glenn Day |
CEO & Executive Director | Chief Financial Officer |
Copyright © 2023 Task. All rights reserved.
H I G H L I G H T S
Strong performance, investing for growth
only | Revenue1 up 36% pcp2 | $21.5m | Increased Development Resources | |||||||||
Increased Cash | ||||||||||||
$38.4m | $36.1m | 200 | ||||||||||
$31.1m | ||||||||||||
$28.3m | ||||||||||||
$26.5m | 150 | |||||||||||
use | 100 | |||||||||||
50 | ||||||||||||
1H23 | 2H23 | 1H24 | 1H23 | 2H23 | 1H24 | 1H23 | 2H23 | 1H24 | ||||
ersonal | • | Revenue up 36% to $36.1m | • | Debt free | Product & Development | Other | ||||||
• | Recurring revenue up 57% to $34.2m | • | Robust cash position of $31.1m, up | • | Large investment in product team: | |||||||
• | Uplift from 1H 23 reflects major | 45% from 1H23 | ||||||||||
o Support major client | ||||||||||||
contract renegotiation | • | H1 includes upfront payments in | ||||||||||
• | 1H24 below 2H23 only due to | Plexure | o Build out Payments capability | |||||||||
seasonality | o Improve digital capability | |||||||||||
1. Revenue from customers, excludes Other Income; | ||||||||||||
2. The prior corresponding period (PCP) is the financial half-year ended 30 September 2022. | ||||||||||||
3. Operating Profit is a non-IFRS measure (refer to slide 10 for a reconciliation to statutory net loss after tax). |
Operating Profit3 up 75% pcp2
$9.6m | ||
$3.3m | ||
$1.9m | ||
1H23 | 2H23 | 1H24 |
- Continued profitability despite significant investment in staff and capabilities
- 2H to benefit from revenue seasonality
Copyright © 2023 Task. All rights reserved.
ersonal use only
Business update
Confidential - Copyright©©20232023TaskTask.All.Allrightsreseserved. .
B U S I N E S S U P D A T E
Plexure is driving significant growth in digital engagement
only | ||
Investment in Plexure product capabilities to support significant | ||
growth aspirations for platform usage | ||
Strong operational growth, supporting key customer outcomes1 | ||
use | • Monthly Active User growth of +18% | |
• Active customers growth +33% | ||
• Engaged (transacting) customers +44% | ||
• +67% growth in Loyalty customers and >76-87% |
growth in Loyalty transactions2
ersonal | 1. Year-on-year platform growth based on H1 FY2024 vs H1 FY2023; 2. Dependent on |
form of Loyalty transaction (points versus stamp card gamification)
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B U S I N E S S U P D A T E
TASK platform capability investment
Investments in platform ensure TASK continues our technology leadership
use only
FY23
TASK transaction platform
Modules adopted
Single tech
stack
12 month platform investment
Major investment and launch of our mobile-first platform
New platform is delivering clients major benefits.
Added mobile and digital functionality:
>2x
*Customer
revenue
Roll out with all customers will
drive growth
Launched initially with Starbucks, now
with several customers
Up to | customer base |
10% | conversion currently |
slated for H2FY24 |
ersonal
Loyalty | Menu | Prices | |||
POS & API | Digital & POS | ||||
Early adopter deployment | |||||
Stock | Availability | Offers |
* Based on per location fees + transaction clips
Further platform enhancements will ensure TASK remains the best global platform
Capacity management
Live order tracking
Further personalisation
Wallet
Copyright © 2023 Task. All rights reserved.
B U S I N E S S U P D A T E
TASK platform capability investment
ersonal use only
All payments across the TASK platform are currently via integrations
Single tech | >2x | ||||||
*Customer | |||||||
stack | Global payment certifications | revenue | |||||
TODAY | H1FY25 | ||||||
TASK Payments overview | Progressing | Payments commercialisation | |||||
Huge volumes but no share in | TASK completing its payment certifications around | Trail customers established in Australia & | |||||
payment revenue | the world | ||||||
New Zealand | |||||||
0% | |||||||
Payment clip | 100% | ||||||
Revenue | New Zealand | ||||||
A comprehensive of 20+ | Australia | ||||||
70% | Introducing | ||||||
payment integrations | |||||||
65% | PAY | ||||||
Europe |
USA
20%
* Estimated based on customer transaction volume | Copyright © 2023 Task. All rights reserved. |
B U S I N E S S U P D A T E
Strong team
only | |
use | Bill Crichton |
Chairman | |
ersonal | Russ Bennett |
General Manager, Plexure |
Daniel Houden | Manda Trautwein | Phil Norman |
CEO | Non-Executive Director | Non-Executive Director |
Executive Director | Audit and Risk Committee Chair | Nominations and Remuneration Committee Chair |
Dean Houden | Glenn Day |
General Manager, TASK | Chief Financial Officer |
Copyright © 2023 Task. All rights reserved.
ersonal use only
1H24 Financials
Copyright © 2023 Task. All rights reserved.
ersonal use only
1 H 2 4 F I N A N C I A L R E S U L T S
Financial performance
Improved performance delivered 75% uplift in Operating Profit
- Group Total Revenue is up 36% on 1HFY23.
- Operating costs +33% on pcp
- Staff costs (excl. share-based costs) increased by $4.2m (+33% pcp) due to the Group investing in people to grow the Group's product offering through internal development and increase the customer base through more customer acquisition roles.
- IT costs increased by $3.9m (+62% pcp), reflecting the increased active users and engagement-related activities for McDonald's on Plexure division platform.
- Hardware costs are lower than H1FY23 (-53% pcp) by $1.5m in line with the reduced hardware sales.
- Operating Profit remains strong at $3.3m (+75% pcp) despite the Groups ongoing investment in staff and capabilities.
Six Months Ending 30 September 2023, NZD$'000 | |||
Income Statement | H124 | H123 | PCP% |
Recurring Revenue | 34,181 | 21,735 | +57% |
Hardware Sales | 1,338 | 3,292 | (59)% |
Non-recurring Revenue | 574 | 1,514 | (62)% |
TOTAL REVENUE | 36,093 | 26,541 | +36% |
Operating Expenditure | (32,798) | (24,661) | +33% |
Operating Profit | 3,295 | 1,880 | +75% |
Share-Based Payments Expense | (2,447) | (2,684) | (9)% |
EBITDA | 848 | (804) | +206% |
Depreciation | (911) | (1,029) | (11)% |
Amortisation | (5,581) | (5,609) | (1)% |
Net Interest, Other Income & FX | 1,025 | 2,209 | (54)% |
Net Loss Before Tax | (4,619) | (5,233) | +12% |
Income Tax | 1,647 | 636 | +159% |
Net Loss After Tax | (2,972) | (4,597) | +35% |
Copyright © 2023 Task. All rights reserved.
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Disclaimer
Task Group Holdings Ltd. published this content on 02 January 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 January 2024 15:52:46 UTC.
