Let\u2019s take a look at the key highlights for Reckon\u2019s half-year results.<\/p>\n
Performance Highlights<\/h2>\n\n- Group revenue returned $33m<\/strong>, up 16%<\/strong> on the previous corresponding period.<\/li>\n
- EBITDA up 21%<\/strong> on the previous corresponding period, up to $14m.<\/li>\n
- NPAT of $4m<\/strong>, up 35%<\/strong> from the previous corresponding period.<\/li>\n
- Group operating cash flow increased from $4.3m<\/strong> to $6.5m<\/strong> in HY25.<\/li>\n
- 8%<\/strong> uplift in cloud revenues, driven by growth in Reckon One.<\/li>\n
- Legal Group revenue growth of 18%<\/strong> to $6.6m<\/strong>.<\/li>\n
- Acquisition<\/strong> of Cashflow Manager<\/strong> and Okke<\/strong> accounting solutions.<\/li>\n<\/ul>\n
These results showcase that the operations and delivery of Reckon\u2019s products and services are continuing to improve, and the company is investing in cloud products and services.<\/p>\n
Performance Analysis<\/h2>\n
With these strong results, the next six months will be a continued commitment to Reckon\u2019s short-term and long-term goals. Reckon looks forward to investing more into its cloud software to provide excellent performance and value for its customers. This is highlighted by numerous product releases and updates<\/a> that its user base has celebrated, contributing to the 8% uplift in cloud revenue growth.<\/p>\nThe half-year results also highlight that Reckon is looking for opportunities to grow with the acquisition of Cashflow Manager<\/a>. Bringing in CFM has added over 20,000 customers to Reckon\u2019s established user base, leading to an increase in subscriptions to Reckon\u2019s overall product suite.<\/p>\nReckon\u2019s legal group is continuing to perform above its weight class overseas, servicing billing and document workflow software for US and UK legal firms. A steady growth in subscriptions \u2013 bringing in $6.6m in subscription revenue \u2013 from key investments highlights the growth in this space.<\/p>\n
Words from Sam Allert, CEO of Reckon<\/h2>\n
Reckon\u2019s CEO, Sam Allert, had glowing remarks about the results.<\/p>\n
\u201cWe are very pleased with our first half results, as we continue with our plan to generate stable cash flows from our well-established Business Group, providing us the flexibility to invest in high growth opportunities\u2026\u201d<\/em><\/p>\nAllert also mentioned that Reckon\u2019s short-term goal is to transition legacy desktop software users across to its cloud suite.<\/p>\n
\u201cUsers of Reckon One and our mobile-based cloud products represent approximately 20% of our subscription revenue base within the Business Group and we have only scratched the surface on the opportunity to transition our legacy product users to Reckon One.\u201d<\/em><\/p>\nAllert also commented on the health of Reckon as a company to its shareholders.<\/p>\n
\u201cWe have continued our track record of rewarding shareholders with healthy dividends, and we maintain our intention is to pay one dividend annually at a healthy yield based on the current share price.\u201d<\/em><\/p>\nWhat\u2019s Next?<\/h2>\n
The half-year results show that Reckon is dedicated not only to its shareholders, but also to valued customers and small business owners. With a commitment to providing stellar accounting<\/a> and payroll software<\/a>, Reckon is delivering on its promises and paving the way for a multi-year growth plan.<\/p>\n[\/et_pb_text][ba_social_share icon_bg=”#03002e” icon_padding=”10px|12px|10px|12px|true|true” layout=”classic” show_text=”off” btn_padding=”0px|0px|0px|0px|false|false” btn_bg_color=”RGBA(255,255,255,0)” _builder_version=”4.23″ _module_preset=”default” custom_margin=”50px||||false|false” custom_padding=”25px||||false|false” custom_css_before=” content: %22SHARE THIS%22;|| font-size: 16px;|| font-weight: 700;|| line-height: 22px;|| letter-spacing: 0em;|| text-align: center;|| color: #ff5447;|| margin-bottom: 10px;|| display: inline-flex;|| position: absolute;|| margin-top: 10px;” border_width_top_main=”1px” border_color_top_main=”#e4e4e4″ border_radii_icon=”on|5px|5px|5px|5px” global_colors_info=”{}” custom_css_before_last_edited=”off|desktop”][ba_social_share_child _builder_version=”4.23″ _module_preset=”default” global_colors_info=”{}”][\/ba_social_share_child][ba_social_share_child network_type=”facebook” _builder_version=”4.23″ _module_preset=”default” global_colors_info=”{}”][\/ba_social_share_child][ba_social_share_child network_type=”linkedin” _builder_version=”4.23″ _module_preset=”default” global_colors_info=”{}”][\/ba_social_share_child][ba_social_share_child network_type=”email” _builder_version=”4.23″ _module_preset=”default” global_colors_info=”{}”][\/ba_social_share_child][\/ba_social_share][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":"
Reckon’s financial half-year report is out, announcing excellent results and a promising outlook for the remainder of the year.<\/p>\n","protected":false},"author":36,"featured_media":296159,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"
Is your small business a great place to work? Reckon is! For 2024-2025, Great Place To Work has stamped its seal of approval and determined that Reckon is an industry leader in nurturing our employees and providing a safe workplace.<\/span><\/p>So, who is Great Place To Work, and how did Reckon measure up?<\/span><\/p>About Great Place to Work<\/b><\/h2>
Great Place To Work<\/span><\/a> is an industry body that consults on workplace management and provides certifications for businesses of all sizes on their capacity to offer a great working environment.<\/span><\/p>Great Place To Work has reviewed the workplace culture and practices of many Australian businesses and developed a model that determines what is average, to good or great place to work. They don't share this model, but they hint at a few key indicators that are considered, such as leadership, experience, culture, and performance.\u00a0<\/span><\/p>How to make a good company culture<\/b><\/h2>
How the workplace thrives at Reckon starts with our Head of People & Culture, Jessica Morris. Here is what she had to say about our certification:<\/span><\/p>I\u2019m absolutely thrilled to share that we\u2019ve been officially certified as a Great Place to Work! This recognition is a testament to the incredible culture we have here at Reckon. The team's dedication, authenticity, and camaraderie have been the driving force behind our success, and we can all be proud of it.\u00a0<\/span><\/em><\/p>Reckon isn\u2019t your typical software company. We are smaller, close-knit, and share the same values you won\u2019t find in a bigger organisation. Everyone is encouraged to be themselves and given the opportunity to find success in their roles. It\u2019s a real privilege to work here.\u00a0<\/span><\/em><\/p>I\u2019d like to give a big thank you to each of our employees for making our company a fantastic place. Together, we\u2019ll continue to build an environment where everyone has the opportunity to thrive and grow.<\/span><\/em><\/p>So, how does Reckon stack up against the rest?\u00a0<\/span><\/p>![\"\"](\"https:\/\/www.reckon.com\/au\/wp-content\/uploads\/2024\/09\/Untitled-600-x-200-px-1-300x105.png\")
<\/p>
How Reckon scored<\/b><\/h2>
So, what is the industry standard for a good workplace? Several factors contribute to a great workplace, but ultimately, it comes down to a shared company culture and values that management and employees agree on. Through Great Place To Work\u2019s modelling, <\/span>Reckon differentiates itself from the typical Aussie company<\/span><\/a>.<\/span><\/p>Although Great Place To Work doesn\u2019t provide access to their modelling, it shows where you scored best.<\/span><\/p>![\"\"](\"https:\/\/www.reckon.com\/reckon-blog\/wp-content\/uploads\/2024\/09\/Graph-300x200.png\")
<\/p>
Justice\u00a0<\/b><\/h3>
Our highest score was in justice, at <\/span>96%<\/strong>. Justice is the extent to which employees perceive management promotes inclusive behaviour and ensures fairness.<\/span><\/p>Leadership behaviour<\/b><\/h3>
These results showcase that the operations and delivery of Reckon\u2019s products and services are continuing to improve, and the company is investing in cloud products and services.<\/p>\n
Performance Analysis<\/h2>\n
With these strong results, the next six months will be a continued commitment to Reckon\u2019s short-term and long-term goals. Reckon looks forward to investing more into its cloud software to provide excellent performance and value for its customers. This is highlighted by numerous product releases and updates<\/a> that its user base has celebrated, contributing to the 8% uplift in cloud revenue growth.<\/p>\n The half-year results also highlight that Reckon is looking for opportunities to grow with the acquisition of Cashflow Manager<\/a>. Bringing in CFM has added over 20,000 customers to Reckon\u2019s established user base, leading to an increase in subscriptions to Reckon\u2019s overall product suite.<\/p>\n Reckon\u2019s legal group is continuing to perform above its weight class overseas, servicing billing and document workflow software for US and UK legal firms. A steady growth in subscriptions \u2013 bringing in $6.6m in subscription revenue \u2013 from key investments highlights the growth in this space.<\/p>\n Reckon\u2019s CEO, Sam Allert, had glowing remarks about the results.<\/p>\n \u201cWe are very pleased with our first half results, as we continue with our plan to generate stable cash flows from our well-established Business Group, providing us the flexibility to invest in high growth opportunities\u2026\u201d<\/em><\/p>\n Allert also mentioned that Reckon\u2019s short-term goal is to transition legacy desktop software users across to its cloud suite.<\/p>\n \u201cUsers of Reckon One and our mobile-based cloud products represent approximately 20% of our subscription revenue base within the Business Group and we have only scratched the surface on the opportunity to transition our legacy product users to Reckon One.\u201d<\/em><\/p>\n Allert also commented on the health of Reckon as a company to its shareholders.<\/p>\n \u201cWe have continued our track record of rewarding shareholders with healthy dividends, and we maintain our intention is to pay one dividend annually at a healthy yield based on the current share price.\u201d<\/em><\/p>\n The half-year results show that Reckon is dedicated not only to its shareholders, but also to valued customers and small business owners. With a commitment to providing stellar accounting<\/a> and payroll software<\/a>, Reckon is delivering on its promises and paving the way for a multi-year growth plan.<\/p>\n [\/et_pb_text][ba_social_share icon_bg=”#03002e” icon_padding=”10px|12px|10px|12px|true|true” layout=”classic” show_text=”off” btn_padding=”0px|0px|0px|0px|false|false” btn_bg_color=”RGBA(255,255,255,0)” _builder_version=”4.23″ _module_preset=”default” custom_margin=”50px||||false|false” custom_padding=”25px||||false|false” custom_css_before=” content: %22SHARE THIS%22;|| font-size: 16px;|| font-weight: 700;|| line-height: 22px;|| letter-spacing: 0em;|| text-align: center;|| color: #ff5447;|| margin-bottom: 10px;|| display: inline-flex;|| position: absolute;|| margin-top: 10px;” border_width_top_main=”1px” border_color_top_main=”#e4e4e4″ border_radii_icon=”on|5px|5px|5px|5px” global_colors_info=”{}” custom_css_before_last_edited=”off|desktop”][ba_social_share_child _builder_version=”4.23″ _module_preset=”default” global_colors_info=”{}”][\/ba_social_share_child][ba_social_share_child network_type=”facebook” _builder_version=”4.23″ _module_preset=”default” global_colors_info=”{}”][\/ba_social_share_child][ba_social_share_child network_type=”linkedin” _builder_version=”4.23″ _module_preset=”default” global_colors_info=”{}”][\/ba_social_share_child][ba_social_share_child network_type=”email” _builder_version=”4.23″ _module_preset=”default” global_colors_info=”{}”][\/ba_social_share_child][\/ba_social_share][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":" Reckon’s financial half-year report is out, announcing excellent results and a promising outlook for the remainder of the year.<\/p>\n","protected":false},"author":36,"featured_media":296159,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":" Is your small business a great place to work? Reckon is! For 2024-2025, Great Place To Work has stamped its seal of approval and determined that Reckon is an industry leader in nurturing our employees and providing a safe workplace.<\/span><\/p> So, who is Great Place To Work, and how did Reckon measure up?<\/span><\/p> Great Place To Work<\/span><\/a> is an industry body that consults on workplace management and provides certifications for businesses of all sizes on their capacity to offer a great working environment.<\/span><\/p> Great Place To Work has reviewed the workplace culture and practices of many Australian businesses and developed a model that determines what is average, to good or great place to work. They don't share this model, but they hint at a few key indicators that are considered, such as leadership, experience, culture, and performance.\u00a0<\/span><\/p> How the workplace thrives at Reckon starts with our Head of People & Culture, Jessica Morris. Here is what she had to say about our certification:<\/span><\/p> I\u2019m absolutely thrilled to share that we\u2019ve been officially certified as a Great Place to Work! This recognition is a testament to the incredible culture we have here at Reckon. The team's dedication, authenticity, and camaraderie have been the driving force behind our success, and we can all be proud of it.\u00a0<\/span><\/em><\/p> Reckon isn\u2019t your typical software company. We are smaller, close-knit, and share the same values you won\u2019t find in a bigger organisation. Everyone is encouraged to be themselves and given the opportunity to find success in their roles. It\u2019s a real privilege to work here.\u00a0<\/span><\/em><\/p> I\u2019d like to give a big thank you to each of our employees for making our company a fantastic place. Together, we\u2019ll continue to build an environment where everyone has the opportunity to thrive and grow.<\/span><\/em><\/p> So, how does Reckon stack up against the rest?\u00a0<\/span><\/p> So, what is the industry standard for a good workplace? Several factors contribute to a great workplace, but ultimately, it comes down to a shared company culture and values that management and employees agree on. Through Great Place To Work\u2019s modelling, <\/span>Reckon differentiates itself from the typical Aussie company<\/span><\/a>.<\/span><\/p> Although Great Place To Work doesn\u2019t provide access to their modelling, it shows where you scored best.<\/span><\/p> Our highest score was in justice, at <\/span>96%<\/strong>. Justice is the extent to which employees perceive management promotes inclusive behaviour and ensures fairness.<\/span><\/p>Words from Sam Allert, CEO of Reckon<\/h2>\n
What\u2019s Next?<\/h2>\n
About Great Place to Work<\/b><\/h2>
How to make a good company culture<\/b><\/h2>
<\/p>How Reckon scored<\/b><\/h2>
<\/p>Justice\u00a0<\/b><\/h3>
Leadership behaviour<\/b><\/h3>