Rewardle Holding Limited FY24 Financial Performance Summary

Rewardle Holdings Limited (ASX: RXH) reported a 2.8% increase in revenues from ordinary activities to AU$9.68 million for FY24. However, the company recorded a net loss after tax of AU$3.44 million, compared to an AU$3.71 million profit in FY23, representing a 192.8% decline. The loss was largely driven by a AU$6.3 million rise in total expenses, including AU$2.2 million from its share of associate losses, mainly from CloudHolter Pty Ltd.

During the year, Rewardle advanced its proprietary B2B2C software platform, expanded into the digital health sector via its partnership with CloudHolter, and acquired controlling interests in Pepper Leaf and Sub11 Pty Ltd. These moves aligned with its strategy to diversify revenue streams and integrate complementary businesses. No dividends were declared, and net tangible assets per share fell to negative 0.23 cents from 0.28 cents in the prior period. The audit report carried an unmodified opinion.

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