In June, DFNN and Nautilus Data Technologies (Nautilus) signed a Memorandum of Understanding (MOU) to collaborate and jointly assist each other in projects involving the development of a data center in the Freeport Area of Bataan. This collaboration between DFNN and Nautilus is in line with the Company’s goal of contributing to the President’s vision of creating a leading digital infrastructure that is both sustainable and globally scalable to complement the government’s inclusive strategies to leapfrog the Philippine economy.
The Company bolstered its board of directors with the appointment of Steve Tsao, a veteran in finance with a wide range of experience in initial public offerings, mergers and acquisitions, venture capital, and fintech. His expertise is expected to complement the current board composition in its goal of sustaining growth and maximizing the opportunities in the technology sector to the benefit of our shareholders.
Reflecting the Group’s sustained recovery, revenue for the six months ended June 30, 2022, stood at ₱675.1 million, an increase of ₱406.2 million or an impressive 151.1% compared to the same period last year with recorded total revenue of ₱268.9 million. The Group posted an EBITDA of ₱230.7 million versus a loss before interest, taxes, depreciation and amortization of ₱40.4 million for the same period last year, an increase of ₱271.1 million from the same period last year, posting a 671% growth.
Net income stood at ₱144.9 million for the six months ended June 30, 2022, an outstanding performance increase of 288.6% coming from a net loss of ₱76.9 million in the same period last year, this a direct effect of the significant increase in the operations of all the company’s technology platforms as more COVID restrictions were eased by the government.
Revenue from share-based income generated from interactive technology platforms for six months ended June 30, 2022, increased by 189.7%. Total revenue in this category amounted to ₱617.4 million compared to ₱213.1 million for the same period in 2021. Meanwhile, revenue generated from the development and maintenance of software solutions during the six-month period ended June 30, 2022, amounted to ₱44.7 million, a decrease of ₱1.1 million or 2.4% compared to the same period last year.
Sales of software and application licenses for the six months ended June 30, 2022, amounted to ₱13.0 million, an increase of ₱3.0 million or 31.0% compared to the same period last year. The increase in revenue from foreign license income also positively responds to global recovery efforts.
Consolidated costs and expenses amounted to ₱464.4 million, an increase of ₱152.5 million or 48.9% compared to the same period last year. This is attributable to the increase in costs associated with the company’s marketing strategies as well as the continued improvement of its technology platforms and implementation of the same.
The Company’s cash position remains liquid throughout the six-month period, with consolidated cash and cash equivalents amounting to ₱98.2 million with no significant long-term debt.
Disclaimer: This Press Release contains soft information and/or statements about future events and expectations that constitute “forward-looking statements.” The statements made pertaining to the Company’s collaboration with Nautilus Data Technologies (Nautilus) do not guarantee future contracts, obligations and/or performance, and undue reliance should not be placed upon them. As disclosed, the Parties have yet to execute a separate commercial agreement that will be binding on both parties. The Company shall update the public for any development on the MOU and/or contemplated transactions.
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