Amended Chairpersons address at the ASM

Chairman’s Address – Annual General Meeting FY2025
Introduction
Good morning, and welcome to our shareholders. I would also like to extend a warm
welcome to Susie Stone, who joins our Board this year. FY2025 was a year of
incremental improvement, but there is still much work ahead.
Financial Performance
• Group Revenue: Increased by 14%, from $21.9M to $24.5M.
• Operating Profit: Improved from a loss of $300K to a loss of $85K, positioning us
for profitability in FY2026.
• Subsidiary Highlights:
o Kilimanjaro Consulting: Revenue grew from $20.45M to $23.11M.
Operating profit declined to $537K (FY24: $1.25M) due to margin
pressures and investment in Recipe Marketing and HubSpot
implementation.
o iSell: Achieved break-even for the first time, improving from a loss of
$434K to a profit of $238K.
o Datagate: Surpassed $5M ARR, driven by growth in the USA and Europe.
Operational Highlights
• Maintained position as MYOB’s No. 1 Enterprise Partner in AUNZ despite
challenging conditions.
• Expanded Acumatica footprint to 400 sites (up from 300), including some of the
largest globally.
• Introduced HubSpot CRM via Recipe Marketing, unlocking synergies with our
mid-market client base.
• Continued investment in our people, now a team of 110 skilled professionals.
Strategic Outlook
• Economies in Australia and New Zealand show signs of recovery.

• Strong global growth of Acumatica in the mid-market ERP category, supported
by Vista Equity Partners’ $2B acquisition and planned AI-enabled
enhancements.
• Focus on governance, compliance, and capital initiatives, including refinancing
and potential equity raising to:
o Replenish working capital reserves following investments in Recipe
Marketing.
o Support Kilimanjaro Consulting’s growth in AUNZ.
o Invest further in iSell with an eye on the US market in FY2026.
• Continued support for associate companies, with Datagate planning further
international expansion and iSell positioned for sustainable growth.
Closing Remarks. We remain committed to profitable growth, operational excellence,
and delivering value to our shareholders.
Finally, I would like to express my sincere gratitude to our dedicated team, whose
hard work and commitment underpin everything we have achieved. I also thank our
shareholders for their continued trust and support as we navigate this exciting
phase of growth together.