Vital reported solid financial results for the 2024 fiscal year, despite challenging business conditions.
The company's revenue for the year was $26.9 million, a 4.5% decrease from the previous year.
This decline in revenue was primarily due to Vital's decision not to renew a low-margin contract, which accounted for about 70% of the year-on-year revenue decline.
Adjusted net profit after tax was $0.3m, down from $0.5m in the previous year.
However, adjusted free cash flow of $4.1m was at the top end of the company's guidance metrics.
Vital's chief executive, Jason Bull, said the results were largely in line with expectations and the company could now focus on driving revenue growth and the acquisition of new customers.
Bull also noted that tough economic conditions were likely to persist in the coming financial year.
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