2025 Annual Report
01/10/2025 08:30 NZDT, ANNREPP
Revenue $24.83M (Up 14%)
Operating loss $85K (2024 Loss $298K)
Loss for the period $129K (2024 Loss $46K)
Net cash at bank $937K (2024 $1,737K)
Shareholders Funds $3,055K (2024 $3,104K)
Performance Overview
During the financial year ended 30 June 2025, Enprise Group Limited recorded revenue of $24.83 million, representing a 14% increase from the prior year ($21.87 million). The Group reported an operating loss of $85,000, a notable improvement from the prior year’s loss of $298,000. The net loss after tax was $44,000, compared with a loss of $46,000 in FY24.
It should be noted that this result differs from the preliminary results posted on 29 August which reported an operating profit of $57,000 and net profit after tax of $98,000.
This result, however, reflects improved trading performance in both Kilimanjaro Consulting and iSell, alongside disciplined cost management. Our associate, Datagate Innovation, continued to demonstrate growth in the SaaS telecom billing sector.
Divisions and Investments
Kilimanjaro Consulting remains the Group’s largest contributor, generating revenue of $23.11 million (FY24: $20.45 million). Operating profit declined to $537,000 (FY24: $1.25 million), largely due to margin pressures and investment in strategic initiatives. The restoration of our relationship with MYOB has been instrumental in stabilising operations. The business recently completed the consolidation of the Australian and New Zealand entities into one cash generating unit, a process that commenced in 2021.
Recurring Revenue $5.048M (2024 $4.459M)
Contracted Revenue $5.075M (2024 $4.481M)
iSell Pty Limited delivered revenue of $1.68 million (FY24: $1.38 million), with an operating profit of $264,000, a significant turnaround from the prior year’s loss of $434,000. This reflects improved recurring SaaS revenues and cost control.
Datagate Innovation Limited (32.35% ownership) increased revenue to $5.0 million (FY24: $4.1 million). Our share of losses narrowed, and a gain on dilution strengthened the Group’s equity position. The implied market value of our stake remains well above book value.
Vadacom Holdings Limited recorded a downward fair value adjustment, reflecting lower revenue multiples in the VoIP market. The business however, remains profitable.
Financial Position
Total assets increased to $14.7 million (FY24: $14.6 million), with net assets of $3.1 million. Cash and cash equivalents were $1.9 million, supported by disciplined cost management and debt repayments. While net current liabilities remain at $2.8 million, the Group has continued to reduce borrowings and lease liabilities.
Operational Focus
The Board has maintained oversight of the Group’s recovery following the prior year’s dispute with MYOB. Key areas of focus have included:
- Sustained revenue growth in Kilimanjaro.
- Expansion of recurring SaaS revenues in iSell and Datagate.
- Continued cost discipline and capital efficiency.
- Strengthening governance and reporting frameworks.
Outlook
The Board remains cautiously optimistic. Forecasts for FY26 and FY27 indicate continued revenue growth and positive operating cash flows. However, performance remains sensitive to the maintenance of MYOB contractual arrangements and broader market conditions.
The Group’s long-term opportunity lies in scaling its SaaS businesses, particularly iSell and Datagate, while Kilimanjaro provides a stable, cash-generating foundation. We continue to monitor developments in artificial intelligence and support its pragmatic adoption across the Group, ensuring that innovations deliver tangible benefits to our customers.
Acknowledgements
On behalf of the Board, I extend our appreciation to our Managing Director, Ronnie Baskind, the leadership team, and all employees for their commitment and contribution. Their efforts have enabled the Group to improve its financial position and operational resilience.
We also acknowledge the ongoing support of our customers, partners, and shareholders. With continued discipline and innovation, Enprise Group is well positioned to pursue sustainable growth and long-term shareholder value.
Nick Paul
Chairperson
Ends
Elliot Cooper
Finance Director
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