How Platformo’s Biztrak Boosted Revenue 41% Amid Malaysia’s E-Invoicing Shift

Strong Growth Amid Regulatory Tailwinds

Platformo Ltd (ASX, PFM) has reported a significant uplift in its operating business, Biztrak Business Solutions, for the June 2025 quarter. Biztrak, a Malaysia-based software developer focused on enterprise management solutions, saw its revenue climb 41% year-on-year to RM626,000 (AUD226,000). This growth was largely fueled by product improvements and the company’s active role in supporting the Malaysian government’s mandatory e-invoicing rollout.

The company’s cash receipts from customers also rose sharply by 50% to RM664,000 (AUD240,000), reflecting strong market demand for Biztrak’s software services and training programs. These figures underscore Biztrak’s growing footprint across multiple Asian markets, where compliance with evolving digital invoicing standards is becoming a critical business requirement.

Adapting to Revised Compliance Deadlines

During the quarter, Biztrak delivered a series of physical and online training sessions tailored to Malaysian companies with turnovers ranging from RM500,000 to RM25 million. These sessions were designed to help customers meet the initial 1 July 2025 e-invoicing compliance deadline. However, a mid-quarter announcement by the Malaysian government extended compliance timelines for smaller businesses, pushing deadlines out to January and July 2026 for lower turnover brackets.

In response, Biztrak swiftly adjusted its training schedule, planning fewer but fully online sessions to accommodate the new phased compliance approach. This strategic pivot aims to maintain revenue momentum into the September quarter while aligning with customer preferences for flexible learning formats.

Product Enhancements Drive Customer Value

Platformo’s Biztrak suite saw notable product developments during the quarter. The Biztrak MSB desktop accounting software received custom modules for major clients such as Jetpharma and USAINS Holdings, the latter managing assets for Universiti Sains Malaysia. Enhancements included a new QR code integration for taxpayers and expanded e-invoicing capabilities.

Meanwhile, Biztrak Online’s cloud accounting platform successfully launched its e-invoice module on schedule, with inventory management features now entering user acceptance testing. The Biztrak Warehouse Management System also rolled out key updates, including integration with SAP B1 and bespoke features for logistics partners like Ninja Van.

Financial Discipline and Cash Position

At the corporate level, Platformo maintained tight cost controls, reducing net cash outflow to AUD69,000 for the quarter, down from AUD91,000 in the prior period. This improvement reflects disciplined spending against a backdrop of increased operational activity. The company ended the quarter with a healthy cash balance of AUD1.362 million, providing a solid runway to fund ongoing development and market expansion efforts.

Director fees and related party payments amounted to AUD58,000, consistent with prior quarters. Overall, the financial results suggest Platformo is balancing growth ambitions with prudent cash management as it navigates the evolving regulatory landscape in Malaysia.

Looking Ahead

Platformo’s Biztrak is poised to capitalize on the staggered Malaysian e-invoicing compliance deadlines with a tailored training and product rollout strategy. Participation in upcoming industry events in August aims to generate new leads and broaden Biztrak’s customer base. Investors will be watching closely to see if the company can sustain its growth trajectory and convert regulatory-driven demand into long-term revenue streams.