ELMO Software reports revenue lift but pandemic-related churn

Jessica SierNorth Asia correspondent

Aug 9, 2021 – 12.32pm

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Key Points

Full-year revenue ($m) 69.1, up 38.1pc
Pre-tax loss ($m) 38.3 v 20.3
Net loss ($m) 37.6 v 18.6
Dividend nil

A lift in business confidence and the steady increase in remote-based working helped human resources and payroll technology company Elmo Software beat earnings and revenue expectations for the last year, but record a slight lift in churn.

Revenue jumped 38 per cent to $69.1 million and earnings before interest, tax, depreciation, and amortisation (EBITDA) came in at $400,000 compared with a loss of $2.9 million the year before.

Jessica Sier is the North Asia Correspondent for The Australian Financial Review. She is based in Tokyo, Japan. Jessica has previously written on technology, global capital markets and economics. Connect with Jessica on Twitter. Email Jessica at jessica.sier@afr.com