From GlobeNewswire: 2024-05-01 08:00:00

Locafy Limited, a software-as-a-service technology company, reported its 2024 fiscal third-quarter financial results, showcasing a record quarterly gross margin of 83.6%. With a new pay-per-click SEO pricing model gaining traction, cost reduction initiatives have resulted in decreased expenses. The company is nearing profitability through revamped operations and increased subscription revenue opportunities.

Locafy’s Performance-Based SEO Pricing Model has already attracted interest, with proposals totaling over $750,000 in potential revenue. A $500,000 services contract with Localista is on track for completion in the 2024 fiscal fourth quarter, providing further revenue growth opportunities. Cost reduction measures have successfully lowered operating expenses, positioning Locafy for profitability in upcoming quarters.

Quarterly operating revenue decreased by 28.3% to $2.9 million, with subscription revenue showing a decline of 36.9% as of the 2024 fiscal third quarter. Advertising revenue decreased by 10.8%, while services revenue increased by 26.6%. Further cost reductions and a strong gross margin of 83.6% indicate positive momentum for Locafy’s financial performance.

Key Performance Indicators (KPIs) are now focused on Monthly Recurring Revenue for Locafy, showing a 34.8% decrease in the 2024 fiscal third quarter. The company’s revamped go-to-market strategy and updated KPIs are aligned with its mission to revolutionize the SEO sector. For more information on Locafy’s financial results and performance, visit their investor relations website.



Read more at GlobeNewswire:: Locafy Reports Fiscal Third Quarter 2024 Results