EOS announces Q4 and 2023 Cash Flows, including Highest Ever Receipts from Customers and Operating Cash Flow

Electro Optic Systems Holdings Limited (EOS or Company) (ASX: EOS) announces today its Q4 and Full Year 2023 Cash Flows and Activity Statement (Appendix 4C).

Read the full announcement here.

Key highlights are:

  • EOS focus on cash flow in 2023 and in Q4 continued to drive financial results. 
  • 2023 Receipts from Customers of $325m is the highest ever achieved by EOS.
  • This drove Operating cash flow of $113m in 2023, also the highest ever achieved by EOS.
  • This helped EOS repay $27m of debt in September 2023 - the next debt repayment of $21m is due in April 2024.
  • Cash balances at 31 Dec 23 were $71m.
  • Three new contracts were signed recently, totalling $68m, including further launch sales of the EOS Slinger Counter-Drone product, announced 29 January 2024.

Summary Financial Results – Cash Flow

Cash Flow Q4 2023

  • Receipts from Customers of $105.4m (up $64.7m from $40.7m in Q4 2022)
  • Net Cash Inflow from Operations of $34.5m (up $48.4m from $13.9m Outflow in Q4 2022)

Cash Flow 2023 Full Year

  • Receipts from Customers of $325.4m (up $179.5m from $145.9m in 2022)
  • Net Cash Inflow from Operations of $113.1m (up $164.6m from $51.5m Outflow in 2022)
  • Cash Balance at 31 December 2023 of $71.0m (up $49.3m from $21.7m at 31 Dec 2022)

Recent Announcements

New $15m contract for Slinger Counter-Drone Systems
New $25m Remote Weapon Systems (‘RWS’) order for Western European Customer
EOS Resolves Dispute with Lender WHSP
EOS Expects 2023 revenue of $210 to $230m
New $28m RWS contract for R600

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