Cirrus Quarterly Activities Report – Record H1 FY19 Revenue

Cirrus Networks has continued to deliver strong revenue growth in the first half of the 2019 financial year. Following the record Q1 revenue of $19.5m, Q2 delivered $26.2m in revenue totalling $45.7m for the Half Year and representing a $15.1m (49%) improvement for the half year on year.

HIGHLIGHTS

  • Strong H1 revenue of $45.7m (unaudited) – 49% improvement on H1 FY18
  • Positive Q2 operating cash flow of $282k
  • Last 5 quarters operating cash positive
  • H1 FY19 operating cash $564k positive v. H1 FY18 of $416k negative
  • 136% growth in higher margin managed services from H1 FY18
  • Continued growth on the eastern seaboard – revenue up 57%

VIEW THE REPORT HERE