The logistics and supply chain company announced AU$66 million in cash in addition to partnerships with various entities.
GetSwift (ASX:GSW), a logistics and supply chain management company, announced AU$1.7 million in revenues, rising 174 percent year-over-year, in its third quarter financial results.
Cash equivalents stood at AU$66 million, while it further reported business integrations with Heineken in Malaysia, Egypt and Mexico, to name a few.
As quoted in the press release:
Total revenue and other income for the quarter ending 30 September 2019 was approximately $1.778 million, an increase of 174 per cent on the equivalent quarter last year and an increase of 26 per cent from the preceding quarter ending 30 June 2019. This was the twelfth consecutive quarter of revenue growth since the firm’s listing on the ASX. Net loss after tax was approximately $5.285 million.
The company has a strong balance sheet, with the quarter ending 30 September 2019 holding substantial liquidity with cahsa and cash equivalents of $66.075 million and no outstanding debt.