Announcement • Mar 18
Carly Holdings Limited, Annual General Meeting, Apr 16, 2025 Carly Holdings Limited, Annual General Meeting, Apr 16, 2025. Location: at suite 2, level 3, 189 kent street, sydney, nsw 2000 Australia Reported Earnings • Aug 31
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: AU$0.016 loss per share. Revenue: AU$3.60m (up 71% from FY 2023). Net loss: AU$4.18m (loss widened 33% from FY 2023). Revenue missed analyst estimates by 22%. Earnings per share (EPS) also missed analyst estimates by 31%. Breakeven Date Change • Mar 13
No longer forecast to breakeven The analyst covering Carly Holdings no longer expects the company to break even during the foreseeable future. The company was expected to make a profit of AU$200.0k in 2025. New forecast suggests the company will make a loss of AU$2.70m in 2025. New Risk • Mar 12
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$5.5m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$5.5m free cash flow). Share price has been highly volatile over the past 3 months (20% average weekly change). Negative equity (-AU$1.3m). Market cap is less than US$10m (AU$5.90m market cap, or US$3.90m). Minor Risks Currently unprofitable and not forecast to become profitable next year (AU$3.3m net loss next year). Shareholders have been diluted in the past year (31% increase in shares outstanding). Revenue is less than US$5m (AU$2.8m revenue, or US$1.9m). Announcement • Dec 07
Carly Holdings Limited announced that it has received AUD 2.85 million in funding from Ipartners Nominees Pty. Ltd. Carly Holdings Limited announced a private placement that it has issued 2,850,000 convertible notes to professional, sophisticated or other exempt investors who are not related parties of the company, namely new investor, Ipartners Nominees Pty. Ltd. ACN 619 036 663 as trustee for iPartners Carly Hybrid Notes Sub-trust with a face value of AUD 1 per convertible note and an issue price of AUD 1 for the aggregate gross proceeds of AUD 2,850,000 on December 6, 2023. Announcement • Oct 06
Carly Holdings Limited Announces Change of Company Secretary Carly Holdings Limited advised that Karen Logan has resigned as Company Secretary of the Company. Ms. Logan will be replaced by Mr. Max Crowley with effect from 6 October 2023. Carly's new Company Secretary, Mr. Crowley, is an experienced corporate lawyer and company secretary specialising in ASX listings, employee equity schemes, capital raising and providing advice on corporate governance and compliance issues. As a member of Automic Group's Company Secretary team, Mr. Crowley acts as Company Secretary to a number of ASX listed and unlisted public companies across a range of industries. Breakeven Date Change • Sep 05
Forecast to breakeven in 2025 The analyst covering Carly Holdings expects the company to break even for the first time. New forecast suggests losses will reduce by 46% to 2024. The company is expected to make a profit of AU$200.0k in 2025. Average annual earnings growth of 99% is required to achieve expected profit on schedule. Announcement • Aug 31
Carly Holdings Limited, Annual General Meeting, Nov 16, 2023 Carly Holdings Limited, Annual General Meeting, Nov 16, 2023. Reported Earnings • Aug 31
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: AU$0.018 loss per share. Revenue: AU$2.10m (up 68% from FY 2022). Net loss: AU$3.14m (loss widened 4.5% from FY 2022). Revenue missed analyst estimates by 25%. Earnings per share (EPS) also missed analyst estimates by 62%. Revenue is forecast to grow 71% p.a. on average during the next 2 years, compared to a 6.8% growth forecast for the Transportation industry in Australia. New Risk • Aug 29
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Shareholders have been substantially diluted in the past year (131% increase in shares outstanding). Market cap is less than US$10m (AU$6.17m market cap, or US$3.97m). Minor Risks Less than 1 year of cash runway based on current free cash flow (-AU$2.0m). Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Currently unprofitable and not forecast to become profitable over next 2 years (AU$1.4m net loss in 2 years). Share price has been volatile over the past 3 months (14% average weekly change). Revenue is less than US$5m (AU$1.6m revenue, or US$1.0m). Announcement • Jul 23
Carly Holdings Limited Announces Resignation of Todd Hunter as Director Carly Holdings Limited advised that Mr. Todd Hunter has stepped down from the Board of Directors of Carly, effective July 21, 2023. Mr. Hunter was appointed to the Board in October 2019 by Turners Automotive Groupfollowing their strategic investment of $1.0 million via placement in June 2019. Mr. Hunter, together with his fellow Board members, has guided the Company through its refocus as a car subscription business. Mr. Hunter steps down as a director of the Company due to his increasing commitments as CEO of Turners Automotive Group. Turners Automotive Group continues its Turners Subscription business in New Zealand through a licensing arrangement with Carly. Reported Earnings • Mar 03
First half 2023 earnings: EPS and revenues miss analyst expectations First half 2023 results: AU$0.011 loss per share (improved from AU$0.016 loss in 1H 2022). Revenue: AU$880.7k (up 69% from 1H 2022). Net loss: AU$1.62m (loss narrowed 5.3% from 1H 2022). Revenue missed analyst estimates by 48%. Earnings per share (EPS) also missed analyst estimates by 18%. Revenue is forecast to grow 132% p.a. on average during the next 2 years, compared to a 16% growth forecast for the Online Retail industry in Australia. Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has fallen by 58% per year, which means it is significantly lagging earnings. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 5 non-independent directors. Independent Non-Executive Director Michelle Vanzella was the last independent director to join the board, commencing their role in 2018. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Sep 28
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 5 non-independent directors. Independent Non-Executive Director Michelle Vanzella was the last independent director to join the board, commencing their role in 2018. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 31
Full year 2022 earnings released: AU$0.027 loss per share (vs AU$0.057 loss in FY 2021) Full year 2022 results: AU$0.027 loss per share (up from AU$0.057 loss in FY 2021). Revenue: AU$1.25m (up 26% from FY 2021). Net loss: AU$3.01m (loss narrowed 10% from FY 2021). Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has fallen by 46% per year, which means it is significantly lagging earnings. Announcement • Aug 30
Carly Holdings Limited, Annual General Meeting, Nov 17, 2022 Carly Holdings Limited, Annual General Meeting, Nov 17, 2022. Announcement • May 30
Carly Holdings Limited Appoints Michael Mobilia as Its Chief Financial Officer Carly Holdings Limited announced the appointment of Michael Mobilia as its Chief Financial Officer (CFO). With the recently implemented vehicle supply strategy, the appointment is made during a crucial expansion period for Carly.Michael Mobilia is a well credentialed finance professional with 20+ years of experience in both the public and private sector, with C-suite roles including business and financial leadership, commercial management, risk management, investment activities and treasury oversight across a range of industries. Effective from 30 May 2022, Mr. Mobilia will have responsibility for Carly's finance, accounting and financial strategy development. Mr. Mobilia is a highly entrepreneurial individual with a very strong asset finance background, having held the CFO and GM Group Risk roles at Equigroup. He has significant experience in asset finance funding structures, having financed billions of dollars of assets through various structures including receivable sales and P&A funding, as well as securing residual value funding. Mr. Mobilia holds a Bachelor of Economics from Latrobe University and gained a Masters, Applied Finance and Investment from SIA. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 5 non-independent directors. Independent Non-Executive Director Michelle Vanzella was the last independent director to join the board, commencing their role in 2018. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Apr 09
Carly Holdings Limited Announces Resignation of David Loeffler as Chief Financial Officer Carly Holdings Limited announced the resignation of its recently appointed Chief Financial Officer, David Loeffler, who is pursuing another opportunity in another industry. Announcement • Feb 21
Carly Holdings Limited Announces Appointment of David Loeffler as Its Chief Financial Officer Carly Holdings Limited announced the appointment of David Loeffler as its Chief Financial Officer (CFO). With the recently implemented vehicle supply strategy, the appointment is made during a crucial expansion period for Carly. David Loeffler is a well credentialed finance professional with experience across global organizations and in the health care and media sectors. Effective from 21 February 2022, Mr. Loeffler will have responsibility for Carly's finance, accounting and financial strategy development. Mr. Loeffler is a chartered accountant and has more than 20 years' executive experience in both Australia and Singapore, driving business growth, implementation of strategy, board reporting and modernization of finance processes and systems. Mr. Loeffler joins Carly from magazine publisher ARE Media, having previously held key finance positions at St Vincent's Health Network, Nine Entertainment Co and YAHOO! Inc. He has also provided CFO consulting services to a wide range of companies in Australia and Singapore. Reported Earnings • Aug 28
Full year 2021 earnings released: AU$0.057 loss per share (vs AU$0.13 loss in FY 2020) The company reported a decent full year result with reduced losses and improved control over expenses, although revenues were weaker. Full year 2021 results: Revenue: AU$996.8k (down 17% from FY 2020). Net loss: AU$3.36m (loss narrowed 38% from FY 2020). Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 50% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Nov 26
New 90-day high: AU$0.23 The company is up 2.0% from its price of AU$0.23 on 28 August 2020. The Australian market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Online Retail industry, which is up 11% over the same period. 