Platformo’s Rising Revenue Masks Ongoing Profitability Challenges
Platformo Ltd reported a 38% revenue increase driven by its Malaysian software arm Biztrak, alongside a modest improvement in its half-year loss. The company continues to navigate regulatory shifts and product enhancements in a competitive software market.
- 38% revenue growth to $406,706 led by Biztrak software business
- Half-year loss narrowed slightly to $207,675
- Ongoing product upgrades and training tied to Malaysian e-invoicing rollout
- No dividends declared; company maintains strong cash position of $1.33 million
- Auditors issued an unqualified review confirming financial statements
Revenue Growth Amid Regulatory Tailwinds
Platformo Ltd (ASX – PFM) has released its half-year results for the period ending 30 June 2025, showing a notable 38% increase in revenue to $406,706. This growth was primarily driven by its Malaysian subsidiary Biztrak Business Solutions, which benefited from product enhancements and expanded training services related to Malaysia’s phased e-invoicing mandate.
Biztrak’s focus on supporting customers through the evolving regulatory landscape has been central to its momentum. The company conducted multiple physical and online training sessions tailored to businesses required to comply with the new e-invoicing rules, which have been staggered by the Malaysian government to ease compliance for smaller enterprises.
Financial Performance and Cost Controls
Despite the revenue uplift, Platformo remains in a loss position, though the half-year loss after tax improved slightly to $207,675 from $211,474 the previous year. The company attributes this to tight cost management at the corporate level and ongoing investment in product development. No dividends were declared, reflecting the company’s focus on reinvestment and maintaining financial flexibility.
Platformo’s cash reserves remain healthy at $1.33 million, supporting the board’s confidence in the company’s ability to continue as a going concern. The company’s net tangible assets per share declined slightly, reflecting the balance between investment in growth and current liabilities.
Product Enhancements and Market Position
Platformo’s product suite continues to evolve, with key updates to Biztrak MSB desktop accounting software, including custom modules for major clients such as Jetpharma and USAINS Holdings. The cloud-based Biztrak Online platform launched its e-invoicing module on schedule, while the warehouse management system (Biztrak WMS) rolled out synchronization features with SAP software, enhancing integration capabilities for logistics customers.
Looking ahead, Biztrak plans to leverage upcoming industry events to generate new business leads, particularly for its enterprise software and warehouse management solutions. The company’s strategic focus remains on expanding its footprint in Asia’s enterprise software market, with potential for further product development or acquisitions.
Outlook and Market Implications
While Platformo’s improved revenue and stable cash position are positive signs, the company’s continued losses highlight the challenges of scaling in a competitive and regulatory-driven market. The revised Malaysian e-invoicing timeline introduces some uncertainty around the timing of future revenue, though Biztrak’s proactive training approach positions it well to capture ongoing demand.
Investors will be watching closely for signs of profitability improvement and successful customer acquisition from upcoming industry engagements. The company’s ability to balance growth investment with cost discipline will be critical in the next reporting periods.
Bottom Line?
Platformo’s revenue surge underscores growth potential, but sustained profitability remains the key hurdle ahead.
Questions in the middle?
- How will the revised Malaysian e-invoicing deadlines impact Platformo’s revenue trajectory in 2026?
- Can Biztrak convert its training and product enhancements into sustained profitability?
- What new enterprise software initiatives or acquisitions might Platformo pursue to accelerate growth?
