OSSIF - OneSoft Solutions expects 81% higher Q4 revenue

• OneSoft Solutions ( OTCQB:OSSIF ) ( TSXV: OSS:CA ) said its Q4 revenue stood at $2.2M, almost 81% higher on a yearly basis.
• The Q4 revenue contributed to a 55% Y/Y increase in FY22 revenue, with the FY22 revenue estimated at $6.9M.
• For FY23, the company believes revenue will exceed $10M, of which about 90% is forecasted to come from increased use of our software-as-a-service solutions. A total of $9.2M of forecasted revenue is expected to come from existing customers.
• FY22 net loss is estimated to be $2.89M, while FY23 net loss is expected to narrow down to $1.30M.
• FY22 adjusted EBITDA is estimated to be a negative $1.88M, and for FY23 it should be a negative $28,000.
• Cash is forecasted to be $4M at FY23 year-end and cash from operations to be ~ breakeven near the end of the year.
• FY22 direct costs as a percentage of revenue is estimated to be 29%, and forecasted to decrease to 25% in FY23.
• Additionally, the company said it plans to recruit new directors, anticipating to maintain a 5-person, diverse board.
• Source: Press Release

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