Tech firm DFNN posts 884% EBITDA growth quarter-on-quarter in 2022 | Inquirer Business
Close  

Tech firm DFNN posts 884% EBITDA growth quarter-on-quarter in 2022

By: - Contributor / @inquirerdotnet
/ 08:23 PM May 17, 2022
DFNN President and CEO Calvin Lim. Contributed photo

DFNN President and CEO Calvin Lim. Contributed photo

In line with DFNN’s projections in the second half of 2021, revenue for the three months ended March 31, 2022, increased by 81.3% to ₱283.7 million compared to ₱156.5 million in the same period last year, posting an increase of ₱127.3 million. EBITDA stood at ₱95.8 million versus a loss before interest, taxes, depreciation, and amortization of ₱12.2 million for the same period last year, an increase of ₱108 million, an impressive growth rate of 884.2%.

Revenue from share-based income generated from interactive technology platforms for the three months ended March 31, 2022, increased by 116.6%. Total revenue in this category amounted to ₱229.3 million for the three-month period ended March 31, 2022, or an increase of 116.6% compared to ₱105.9 million in the same period in 2021. Income generated from the development and maintenance of software solutions during the three-month period ended March 31, 2022, amounted to ₱12.8 million, a decrease of ₱10.7 million or 45.5% compared to the same period last year. Sales of software and application licenses for the three months ended March 31, 2022, amounted to ₱41.6 million, an increase of ₱14.6 million or 53.9% compared to the same period last year. This surge in income is attributed to the increase in sales of foreign licenses.

ADVERTISEMENT

Consolidated costs and expenses amounted to ₱196.4 million, an increase of ₱20.2 million or 11.5% compared to the same period last year. This is attributable to the increase in costs associated with the company’s strategy of continued development and improvement of its technology platforms. The Company’s cash position remains liquid throughout the three-month period with consolidated cash and cash equivalents amounting to ₱66.5 million with no significant long-term debt.

DFNN continues to be cognizant that sustaining growth hinges heavily on its ability to timely act on developing COVID conditions and impose expedient measures that minimize health and economic risks. Therefore, in parallel with government mandates, DFNN continues to develop and adjust business strategies to effectively respond to the ever-changing business climate.

FEATURED STORIES
BUSINESS

Moreover, to ensure continued growth, DFNN is bolstering its technology, platforms, software solutions for enterprise, e-government, and retail clients as it invests in the latest technologies in data centers, space technology, and sustainability support systems platforms involving artificial intelligence.

This will involve supporting the industry built around launch platforms with objects into near space, low earth orbit, geostationary orbit, space tourism, beyond Earth, or on interplanetary trajectories. It will also include the developments necessary to support spaceport and space industries and their ancillary operations.

RELATED STORY

DFNN reaffirms confidence in PH, eyes new tech investments with foreign investors

Subscribe to our business newsletter

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.
Read Next
Don't miss out on the latest news and information.

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: DFNN, EBITDA, Growth, IT, Software, technology
For feedback, complaints, or inquiries, contact us.

Subscribe to our business news

By providing an email address. I agree to the Terms of Use and
acknowledge that I have read the Privacy Policy.



© Copyright 1997-2022 INQUIRER.net | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.