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2nd November 2021: ASX RELEASE


MSL Q1 FY22 revenue of $7.7m (unaudited) is an increase of 40%+ from Q1 FY21 (prior corresponding period), driven by UK business rebound post-COVID and the positive contribution of the SwiftPOS acquisition completed in November 2020.

Q1 Positive operating cashflow of ~$500k, the 5th quarter in a row of generating operating cash.

Strong Sales in Q1 FY22 driven by enterprise sales deals for SwiftPOS in APAC, including new wins at AAMI Park, MyState Bank Arena, Logan City Council, Theatre Royal with Trafalgar Entertainment and NSW National Parks and Wildlife Service.

Additional new UK enterprise client wins for SwiftPOS with Angus Steak House and British Airways i360.

Cash balance of $4.6m as at 30 September 2021, and a projected cash balance of over $6m which includes the SPP contribution, the retirement of all interest-bearing debt and outgoing deferred and earnout payments related to the SwiftPOS acquisition.

The company completed the acquisition of complementary POS provider OrderMate on 30th September 2021. The initial signs through October have been positive. The timing of the OrderMate acquisition has coincided with the NSW and Victoria states emerging from lockdown seeing 85 sales orders closed making October OrderMate’s highest sales month for 2021.

  • The profile of OrderMate and its acquisition is:
  • $5.5m cash on Completion
  • $2.0m MSL share on Completion (subject to escrow)
  • Normalised FY21 EBITDA of over $1m
  • FY21 revenue of over $6m with $3m of recurring revenue
  • Positive operating cashflow