I'm not overwhelmingly happy with these results ; the company remains a work in progress. The lack of growth in revenues is disappointing but it appears events may be working the way the company expects. Professional revenues were expected to decline as their partners take over distribution so maybe a decline of a half million in sales is not awful.
There are slight improvements in some financial ratios . One example here.
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Reported IFRS loss was $(3.1) million in Fiscal 2024, or $(0.6) per basic and diluted share, a 13% improvement versus a $(3.6) million loss in Fiscal 2023, or $(0.08) per basic and diluted share. The improvement was due to a $0.5 million decrease in adjusted operating expenses, with the full impact of the Company's realignment and cost efforts announced in January 2024 expected to be realized during the upcoming fiscal year"
There's another half million in cost savings to be realized.
"Reported IFRS loss was $(3.1) million in Fiscal 2024, or $(0.6) per basic and diluted share, a 13% improvement versus a $(3.6) million loss in Fiscal 2023, or $(0.08) per basic and diluted share. The improvement was due to a $0.5 million decrease in adjusted operating expenses, with the full impact of the Company's realignment and cost efforts announced in January 2024 expected to be realized during the upcoming fiscal year."
"The ending cash balance for as of March 31, 2024 was $2.2 million, plus $0.4 million of trade receivables.
Outstanding debt as of March 31, 2024 was 2.25 million which was drawn against the previously announced $4 million line of credit from Celtic Bank."
The company lives to fight on.