Skyfii Ltd (ASX:SKF, OTC:SFIIF) non-executive director Susan O’Malley has demonstrated her faith in the company’s technology strategy by participating in the share purchase plan (SPP) announced on April 6, 2021.
The SPP, which was completed on April 26, raised A$10.7 million with funds used to fund the acquisition of CrowdVision, as well as working capital requirements and additional resourcing in the UK and US markets.
O’Malley acquired 181,818 indirect shares at 16.5 cents per share for a total of almost $30,000, increasing the number of securities held in that interest to 944,785 shares.
Strong FY21
Skyfii recently ended the 2021 financial year in an exceptionally strong position, with a 58% hike in recurring revenues in the fourth quarter and a 72% spike in total operating revenues from the previous corresponding quarter.
The ASX-listed omnidata intelligence company is in a strong position to push forward with its plans to deliver another year of double-digit recurring revenue growth in the 2022 financial year.
It is also targeting to be in a cash flow positive position in the 2023 financial year.
Skyfii chief executive officer and managing director Wayne Arthur said at the time: “Skyfii has exited FY21 in an exceptionally strong position.
“Our ARR of A$14 million, up 40% over the past 12 months, highlights the growth in our core business and our cash position of A$8.6 million provides a strong and flexible balance sheet to support future growth activities.
“The impact of COVID-19 has provided a strong macro-tailwind for our business delivering a significant opportunity to accelerate our growth efforts.”