Absolute Software Announces First Quarter 2023 Financial Results

Absolute Software Co., Ltd.
Absolute Software Announces First Quarter 2023 Financial Results Cash flow from operating activities was $15 million, and ARP for businesses and governments grew by 18% year-on-year

On November 16th, Absolute Software Corporation (Headquarters: Vancouver, Canada; hereafter, Absolute) will announce the financial results for the first quarter of fiscal year 2023 (July-September 2022). Cash flow from operating activities was $15 million, and ARP for businesses and governments recorded strong growth of 18% year-over-year.
On November 16th, Absolute Software Corporation (Headquarters: Vancouver, Canada; hereafter, Absolute) will announce the financial results for the first quarter of fiscal year 2023 (July-September 2022). All dollar figures below are in U.S. dollars unless otherwise stated.
Absolute President and CEO Christy Wyatt said: “We delivered on our plan in the first quarter. The investments we made this quarter will have a strategic impact on businesses and organizations around the world with our self-healing, intelligent security solutions. We realize that we are creating significant business opportunities, and we remain focused on striking a balance between profitability, cash generation and growth, and delivering value for our customers, partners and shareholders. To go.”
FY2023 Q1 (FY23 Q1: July-September 2022) Overview
Key financial indicators
FY23 Q1 sales increased 23% year-on-year (hereafter, FY22 Q1) to $53.6 million Adjusted revenue(1) was $54.2 million in Q1 FY23, up 11% from Q1 FY22 FY23 Q1 net loss was $9.5 million, up 25% from FY22 Q1
FY23 Q1 Adjusted EBITDA(1) of $11.5 million, 21% of Adjusted Sales(1), down from $12.8 million, 26% of Adjusted Sales(1) in Q1 FY22 Total ARR(2) as of September 30, 2022 was $215.7 million, up 15% year-on-year The Corporate & Government sector grew 18% year-on-year and accounted for 78% of total securities valuations as of September 30, 2022 Education sector sales increased 7% year-on-year and accounted for 22% of total sales as of September 30, 2022
FY23 Q1 new logo ARR (2) decreased from $4.7 million in FY22 Q1 to $4.4 million FY23 Q1 net dollar holdings(2) were 108%, down from 109% in FY22 Q1 Cash flow from operating activities was a payment of USD 15.2 million in Q1 FY23, compared to a payment of USD 600 million in Q1 FY22 Paid a quarterly dividend of C$0.08 per common share outstanding in FY23 Q1 note:
Adjusted revenues, Adjusted EBITDA and Adjusted EBITDA as a percentage of adjusted revenues are non-IFRS measures. Please refer to the FY23 Q1 MD&A ‘Use of Non-IFRS Measures and Key Metrics’ section for further details on these measures.
Total ARR, new logo ARR and net dollar retention are key metrics. Please refer to FY23 Q1 MD&A “Use of Non-IFRS Based Measures and Key Metrics” section for further details on these measures.
financial highlights
Millions of US dollars, excluding ratios, number of shares and amounts per share.
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http://www.absolute.com/ beginning November 8. These documents are also available on Absolute’s SEDAR profile ( http://www.sedar.com/ ) and EDGAR ( http://www.sec.gov/ ). In addition, on November 8th, the FY23 Q1 financial results briefing and a dashboard of key operating and financial indicators will be available on the investor information section of the website (http://www.absolute.com/company/investors/). It is open to the public.
Use of non-IFRS measures and key indicators
This press release sets out a number of indicators and metrics that we believe are meaningful in evaluating Absolute’s performance. Many of these indicators and metrics do not have a standard meaning under International Financial Reporting Standards (IFRS) issued by the International Accounting Standards Board and are comparable to similarly titled indicators reported by other companies. less likely to be compared. Please note that the disclosure of these items is considered additional to, and not a replacement for, discussion of financial results or cash flows from operating activities determined in accordance with IFRS.
These non-IFRS measures and key metrics provide useful supplemental information to readers wishing to consider the impact of certain non-cash and non-recurring items on our results of operations and are used to assess Absolute’s results of operations. is intended to assist in comparing to past periods. Supplementing the IFRS disclosures with the non-IFRS measures set out below provides management with an additional view of performance by excluding expenses that are not directly related to performance in a particular period. Management uses both IFRS and non-IFRS measures in planning, monitoring and evaluating Absolute’s performance.
forward-looking statements
This press release contains statements about future events or future business, operations, financial performance and conditions of Absolute, as defined under applicable securities laws, including, but not limited to, the Private Securities Litigation Reform Act of 1995. Certain forward-looking statements and information (collectively, “forward-looking statements”) are included in Forward-looking statements generally include the words “intends,” “intends,” “estimates,” “may,” “should,” “may,” “expects,” “estimates,” “estimates,” “plans.” , “potential,” “project,” “intended,”
“intended,” “believed,” “intended,” and similar terms, including statements in this press release regarding the acquisition and integration of NetMotion. but is not limited to that. Forward-looking statements provide information about management’s current expectations and plans for the future and are intended to provide investors and others with a better understanding of Absolute’s expected financial condition, results of operations and operating environment. purpose. Please note that such information may not be suitable for other purposes.
Forward-looking statements are not guarantees of future performance, actions or developments, and are based on expectations, assumptions and other factors that management believes appropriate at the present time. The significant expectations, assumptions and other factors used in making the forward-looking statements contained herein include, but are not limited to, Absolute’s ability to successfully execute its plans, strategies and objectives. Not a thing.
Although management believes the forward-looking statements made herein are reasonable, the risks and uncertainties associated with and inherent in Absolute’s business could cause actual results to differ materially. There is a nature. This includes risks such as the inability to accurately predict Absolute’s growth rate and
profitability.
All forward-looking statements contained in this press release are expressly qualified in their entirety by these cautionary statements. The forward-looking statements contained in this press release speak only as of the date hereof, and Absolute does not make any
forward-looking statements based on new information, future events or otherwise, except as required by applicable securities laws. We undertake no obligation to publicly update or revise any
forward-looking statements.
About Absolute Software
Absolute Software is the only provider of intelligent security solutions with self-healing capabilities. Embedded in over 600 million devices, Absolute is the only platform that provides permanent digital connectivity that intelligently and dynamically applies visibility, control and self-healing capabilities to endpoints, applications and network connections. We help customers strengthen their cyber resilience as the threat of ransomware and malicious attacks increases. G2, an organization that evaluates products based on real end-user comments, has named Absolute, trusted by over 18,000 customers, the leader in endpoint management for the 11th consecutive quarter in the Fall 2022 Grid(R) Report. acknowledged as In addition, we are recognized as a leader in the Grid Report’s Zero Trust Networking category.
(C) 2022 Absolute Software Corporation. All rights reserved. ABSOLUTE, the ABSOLUTE logo, and NETMOTION are registered trademarks of Absolute Software Corporation or its subsidiaries. Other names and logos mentioned herein may be trademarks of Absolute or their respective owners. In this document, the absence or complete absence of the (TM) and (R) symbols near each trademark is not a waiver of ownership of the associated trademark.
Details about this release:
https://prtimes.jp/main/html/rd/p/000000004.000098983.html


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