Kinatico (ASX:KYP) has announced its report for the second quarter of the 2023 financial year, highlighting a $1M revenue from SaaS (Software as a Service), up 59% on the prior corresponding period (pcp), and up from the previous quarter by 32%. 

The RegTech company also says automation and process improvements created a 19% employee reduction, giving annualised savings on $1.1M.

Kinatico says its operating cashflow of $0.7M in Q2 was the 10th consecutive quarter of positive cashflow from operations.

Its total revenue was $6.7M, up 3% on pcp, and its H1 revenue was $13.6M, up 6% on H1 FY22.