Australia-based job search site AD1 Holdings published its half-year report today which showed revenue for ordinary activities was down 38% to AUD 2,175,958 (USD 1.4 million) for the period ended 31 December 2023.

Last month the group reported a year-on-year increase of 12% in cash receipts to a total of AUD 1.44 million (USD 950,630) in the second quarter ended 31 December 2023.

The report also showed a net loss for the period attributable to members, down 61% to AUD 2,558,000 (USD 1.6 million).

In its Art of Mentoring (AoM) business, the group said it has observed steady growth throughout the period and the company's focus has remained on improving digital infrastructure, on-boarding efficiencies, and implementing new strategies to expedite deal closures. Specifically, the introduction of design workshops has proven to be a strong method to gain commitment before formal deal closure takes place.

Total pipeline across the AoM group is AUD 3 million (USD 1.9 million) in total contract value, a significant portion targeted to be closed within Q3 2024.

In the ApplyDirect business, following the implementation of a more streamlined growth strategy the division has experienced substantial growth achieving 47% revenue growth to AUD 270k (USD 175,467) for the quarter.

As part of the group’s revised strategy, the business has continued to implement cost reduction, the full benefit of which is expected to be realised in the second half of FY24.

AD1 Holdings shares last traded yesterday, 27 February and closed at AUD 0.005 (USD 0.0032), no change on the day and 25.00% above the 52 week low of AUD 0.004 (USD 0.0026) set on 17 November 2023. The company has a market cap of AUD 4.49 million (USD 2.91 million).