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2023 Financial Year Results Announcement

Strong FY23 performance and return to positive operating leverage

28 August 2023 – Sydney, Australia: Infomedia Ltd (ASX: IFM), a leading global provider of DaaS and SaaS solutions that empowers the data-driven automotive ecosystem, is pleased to announce its financial results for the 12 months ended 30 June 2023 (FY23).
IFM delivered a 14.4% increase in underlying cash EBITDA1 to $28.4 million relative to pcp2

FY23 financial snapshot (relative to pcp)3

As at 30 June 2023 FY23 Year on Year
Recurring revenue $128.1 m + 11%
Exit Annual Recurring Revenue1,4 (ARR) $132.3 m + 7%
Total revenue $129.9 m + 8%
Underlying cash EBITDA $28.4 m + 14%
Net Profit after Tax (NPAT) $9.6 m + 16%
Underlying free cash flow1 $28.9 m + 31%

We are pleased to announce a strong FY23 performance and completion of Phase I of our transformation strategy.

We have successfully shifted our focus to growing recurring revenue. Infomedia’s FY23 recurring revenue was 11% higher at $128.1 million and with growth in all regions and products in FY23.

Exit ARR was $132.3 million, representing strong growth of 7% over the 12 months since 30 June 2022 and exceeded our guidance provided at half yearly results on 24 February 2023.

Underlying cash EBITDA was $28.4 million, up 14% on FY22, due to continuous growth in revenue and cost discipline. Also driving this performance was one-off growth from accelerated Superservice delivery, recurring growth from sales pipeline conversion, operational excellence and improved sales and commercial rigour. Underlying cash EBITDA recurring margin5 was 21% from 17% in pcp.

Full year reported NPAT was $9.6 million, up 16% on FY22, largely due to much improved ongoing cost control and lower level of accrued acquisition earnout expenses.

Infomedia’s core solutions continued to perform well in FY23. Infodrive grew recurring revenue by 26% capitalising on increasing demand for data and insights solutions. Infodrive and SimplePart continue to expand outside their home regions.

Infomedia’s APAC region remains our best performing region with 15% growth in revenue and 14% rise in underlying cash EBITDA.

Infomedia’s Americas region recorded revenue growth of 14% on pcp (5% in local currency) and grew underlying cash EBITDA by 21%. The team in Detroit has been working closely with the SimplePart sales and account management teams in delivering an integrated sales approach.

We have signed an amended SimplePart purchase agreement fixing the maximum final payment at US$4.3 million and removing restrictive covenants. This enables us to accelerate integration of SimplePart and IFM Americas.

We successfully launched Microcat Pro in 1H23 and will continue to invest in our product roadmap.

In Phase I – Change, we took decisive steps to reduce Annual Recurring Cost (ARC). Underlying people cost was 3% higher in FY23 compared to a 25% rise in FY22. Our Biz-Dev-Ops model is now fully operational and enables a faster and more efficient allocation of resources to achieve the best outcome for our customers and drive product-led growth.

Infomedia has $65 million of cash on hand and remains debt free.

Commenting on Infomedia’s performance in FY23, Mr Monsees said: “I would like to give a big thank you to the team. I am proud of what we have achieved together in our first year executing our new strategy. The strong financial performance across all key measures is testament to our transformation strategy. There is good momentum in growth supported by a strong sales pipeline. We will continue to drive commercial rigour and operational excellence to deliver efficiency. I am very excited by the opportunities ahead.”

FY23 dividend

Infomedia declared a final dividend of 1.8 cents per share (franked at 100%). The dividend record date will be 4 September 2023 and the payment date will be 18 September 2023. Total dividend for FY23 is 4.0cps.


In FY23, Infomedia successfully executed Phase I of the transformation strategy. In FY24 we will focus on strengthening the company’s organic growth profile whilst driving efficiency and operational excellence.

We will continue to invest to expand globally into new OEM partnerships, new geographies and M&A opportunities.

Infomedia is well placed to deliver total revenue in the range of $135 million to $142 million in FY24.

Investor group briefing being held at 11:00am AEST today

As previously notified to the ASX, Jens Monsees (CEO) and Chantell Revie (CFO) will host an investor webinar at 11:00am AEST today, 28 August 2023 to present the FY23 results, followed by Q&A.

Please use the following link to register for the webinar:
1 Infomedia uses certain non-IFRS measures that are useful in understanding the company’s operating performance. These are consistent with the internal measures disclosed in Infomedia’s Operating Segment Note (note 1 to the annual financial report) and are directly reconciled to the company’s statutory reported IFRS financial information within the Operating Segment Note.
2 pcp: prior corresponding period
3 Unless otherwise denoted all comparatives are for the 12-month period ended 30 June 2022.
4 In constant currency
5 Underlying cash EBITDA % to recurring revenue