Gentrack back in the red as R&D ramps up

Gentrack expects its airport business to benefit from the post-covid recovery in aviation. (Image: Depositphotos)

Tue, 29 Nov 2022

Gentrack shares fell 2.4% after the utilities software developer said it was back in the red after ramping up spending on research and development and its sales and marketing drive. The company reported a loss of $3.3 million in the 12 months ended Sept 30, turning around a profit of $3.2m a year earlier when Gentrack's bottom line was bolstered by a $3.7m foreign exchange gain on its restructuring. Revenue rose 19.3% to $126.3m in a year Gentrack described as “successful” with “progress on a number of fronts&rdq...

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