Enprise Group reports $20.7m revenue, $11.8m loss

Enprise Group has released its unaudited financial statements for the year ended June 30, 2023.

The company reported unaudited revenue of $20.7 million for the period, a 10.7% increase from the previous year.

However, total comprehensive income for the year was a loss of $11.8 million, down from a loss of $2.1 million in the previous year.

This decline was attributed to various factors, including the write-off of goodwill from Kilimanjaro and iSell, as well as a change in accounting policy.

The breach of banking covenants will continue, and the board plans to seek a further waiver.

Kilimanjaro Consulting had recurring revenue of $3.7 million and contracted revenue of $4.2 million, while iSell's annual recurring revenue increased to $1.22 million.

Datagate Innovation grew its annual recurring revenue to over $3.3 million and is forecasting to reach break-even in the last quarter of 2023.

Vadacom Holdings' new cloud PBX phone system, 'Next Voice,' continues to expand its functionality.

Enprise Group is an investment vehicle for high-growth tech companies.