Gentrack loss widens on increased R&D, marketing spend

Staff reporters
Tue, 24 May 2022

Gentrack says it's well placed to capture the opportunities created by changes to the utilities and airport sectors. (Image: Depositphotos)
Gentrack says it's well placed to capture the opportunities created by changes to the utilities and airport sectors. (Image: Depositphotos)
Staff reporters
Tue, 24 May 2022
Gentrack’s first-half loss widened as it ramped up spending in preparation for the UK energy market to come out of a major shake-up that has stretched the utilities software provider’s business for the past couple of years. The company reported a net loss of $5.8 million in the six months ended March 31, widening from a loss of $1.1m a year earlier. Earnings before interest, tax, depreciation and amortisation (Ebitda) sank 79% to $1.2m, as the company’s spending grew at a faster pace than the 12% increase in revenue to $5...

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