Vinyl Group hits record quarterly revenue of $6.3M
Key points
- Vinyl Group generated a record $6.33 million in first-quarter revenue, representing a 38% increase from the prior quarter.
- The company's share price surged 21.43% following the quarterly update.
- Management expects to achieve a sustainably positive monthly earnings run-rate starting in December.
Vinyl Group (ASX:VNL) posted record first-quarter revenue of $6.3 million, representing a 38% increase from the previous quarter as recent media acquisitions boosted growth.
The strong top-line performance contrasted with a tight liquidity position, as customer receipts reached $5.52 million while quarterly cash stood at $777,000.
“We have built the audience scale; our priority now is profitable business scale,” said Vinyl Group CEO Josh Simons.
The company entered October with more than $1.5 million in overdue receivables, prompting non-executive chairman Ken Gaunt to expand an unsecured loan facility to $12 million to support working capital needs.
Vinyl Group stated that it remains on track to deliver full-year revenue between $38 million and $40 million for the 2027 financial year.
Following the announcement, the Vinyl Group share price was up to $0.034.
The business expanded its operating footprint this year by acquiring Val Morgan Digital, Pedestrian Group, and Time Out Australia to broaden its media title portfolio.
