21.8.2024 07:00:01 CEST | Spotlio AS | Annual financial and audit reports
(Oslo, 21 August 2024) The Board of Directors of Spotlio AS (the “Company”) has approved the Annual Report for the financial year ending 30 April 2024. The Annual Report is attached together with the Audit statement.
The Annual Report shows for the financial year ending 30 April 2024, the Company reported revenues of USD 7.3 million and a negative EBITDA of USD -3.9 million (adjusted EBITDA of USD -2.9 million excluding for approximately USD 1 million of one-time severance and legal costs). The Company continued to deliver significant cost rationalization with a reduction of over USD 2.5 million on annualized basis during the financial year. Had such cost been removed for the entire financial year the Company would have generated a negative EBITDA of approximately USD -1.7 million. This represents a significant improvement from the reported EBITDA of USD -4.9 million in prior year and firmly sets the foundations for the path to profitability.
As per 30 April 2024, the company had a cash position of USD 0.6 million. In April 2024, the company successfully established a new debt facility with certain existing shareholders and key management team members with a total loan amount of approximately USD 1.7 million. As per end of April 2024, the company had drawn approximately USD 0.6 million of this debt facility.
Disclosure regulation
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
Contacts
Albert Ferrando, CEO, Spotlio AS, +34 932 20 35 45, albert.ferrando@spotlio.com
James Price, CFO, Spotlio AS, +34 972 001 021, james.price@spotlio.com
About Spotlio AS
Spotlio AS is a trailblazing force in destination digital technology, offering tailor-made Solutions from apps to e-commerce and almost everything in between that redefines the way consumers interact with resorts, parks, and attractions. With a Decade long legacy of excellence, Spotlio empowers clients with innovative white-label digital solutions and pricing services, fostering connections and enhancing experiences on a global scale.
Attachments
Spotlio AS Signed Audit Opinion.pdf
Annual Report Spotlio AS May 2023 to April 2024.pdf
