- Total revenue increased 115% to $1.296 million
- Gross profit rose 173% to $524,719
- Underlying EBITDA at -$307,186 before $986,731 in costs for ASX listing.
- Cash on hand is $3.8 million.
The nearly $1 million cost of a backdoor listing on the ASX last year has seen Scalare Partners (ASX: SCP) post a statutory EBITDA loss of $1.294 million for the six months to December 31.
The loss exceeds the company’s total revenue of $1,295,718 for the period.
Scalare (ASX: SCP) went public on November 14 in a reverse takeover of confectionary maker Candy Club, raising $4.301 million of an $8m share offer at $0.25 cents a share.
Releasing its first results as an ASX-listed company, Scalare’s total revenue increased 115% on 12 months ago to $1,295,718 for the half, primarily due to a 94% growth in trading income, including a 46% increase in virtual support services.
Gross profit rose by 173% to $524,719, and gross margins improved from 32% to 40%. The statutory EBITDA (earnings before income, tax, depreciation and amortisation) included $986,731 in one-off ASX listing costs to put the underlying EBITDA loss at $307,186.
CEO Carolyn Breeze said Scalare’s strong revenue growth reflects increasing demand for its services.
“Tech Ready Women and the Australian Technology Competition continue to attract high-calibre founders seeking holistic support, offering a compelling alternative to traditional venture capital models,” she said.
“Over the next six months, we will continue expanding our services and investment portfolio, leveraging our robust pipeline to drive further returns.”
TRW, which empowers women in tech and innovation through mentorship and skills development, is rolling out nationally with support from Westpac for an additional 20 part-scholarships for women founders, while Advance Queensland has backed 20 local scholarships for TRW’s Investment Ready Program, which equips women with the skills, confidence, and networks to raise capital.
“Our ASX listing in November 2024 was a pivotal milestone, elevating Scalare’s profile and reinforcing confidence in our business model. We are now entering a highly scalable growth phase, positioning us for long-term value creation,” Breeze said.
Alongside those programs, Scalare also invests in startups.
It valued its portfolio of 27 portfolio companies at $10.7 million at December 31, on the back of $4.3 million in investments, with the realised and unrealised gains increasing by $248,878 in 1H FY25.
The company said that’s a softer performance compared to 1H FY24.
Scalare plans to make up to eight new investments annually in early-stage technology companies.
It’s also begun exploring expansion into the US and had a soft launch of Ascend, a program delivered in partnership with Luna, to help early-stage tech founders accelerate growth, with its first paid cohort up and running.
Scalare shares have bounced along below their listing price of 25 cents since the IPO, and fell more than 10% last week ahead of the half-yearly results to $0.16 cents.
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