Significant Investments Made in Product & UK Market Launch

GEO (NZX:GEO) today announced its unaudited financial results for the year ended 30 June 2022, showing an increase in its net loss from operations and EBITDA loss, as well as an increase in subscription revenue and customer acquisition rates.

Revenue decreased due to discontinued operations and COVID-19 subsidies, but customer wins rose significantly, with new customer wins up 85% over the prior period, new licence sales up 72% and new customer ARR up 80%.

The Company’s accelerated investment programme following its capital raise in October 2021, including investments in product and technology capability and the launch of its UK office, is expected to improve customer retention rates and drive sustained growth.