News and Announcements
Collaborate Corporation December 2016 Quarterly Report And Business Update
- Published January 30, 2017 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
Collaborate Corporation Limited (ASX:CL8) is pleased to present its consolidated quarterly cash flow report and business update for the quarter ended 31 December 2016. Key highlights include:
- 13% increase in receipts from customers vs September 2016 Quarter and 42% increase in receipts vs December 2015 Quarter. Net Cash Used in Operating Activities declined 8%.
- Highest ever quarterly results for Rental Transaction Value, Gross Revenue, Net Rental Days Realised and Vehicle Rentals for DriveMyCar and MyCaravan.
- 21% increase in DriveMyCar Gross Revenue vs September 2016 Quarter + 164% increase in Gross Revenue from UberX rentals vs September 2016 Quarter
- 42% increase in MyCaravan Gross Revenue vs September 2016 Quarter.
- $370,000 in placement funds received from existing shareholders via flexible equity facility.
- Following the end of the Quarter, receipt of R&D incentive tax refund of $183,178.
Consolidated Cash Flows
Receipts from customers increased by 13% vs the September 2016 Quarter and 42% vs December 2015 Quarter. Given overall timing of cash flows, the cash receipts are not the most appropriate reflection of the true growth and performance during the Quarter, with reported revenues a more appropriate reflection of business performance. A number of bookings for the holiday period are made in advance and a proportion of cash receipts were received in the previous Quarter to hold bookings.
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