The FY16 first half has been completed with new sales coming in at $6.15 million. This compares to $1.68 million in the FY15 first half and $5.54 million in the FY15 full year. The FY15 full year new sales number has been beaten as at the FY16 half year mark which is a great overall result for the period.
SNARE new sales for the half have come in at 120% growth compared to the same period last year which in turn showed a growth of 85% from the same period in FY14. The momentum in SNARE sales growth which began in late 2014 has continued to be very strong. In addition, the SNARE new sales pipeline for Q3 already looks very pleasing even though the quarter has only just opened. SNARE new sales to the end of FY16 Q2 are already ahead of the FY15 Q3 YTD sales achieved.
SNARE total invoicing, which includes base business renewals as well as new sales, came in at $4.18 million for the half, showing growth of 88% compared to the same period last year. The SNARE total invoicing growth for the same period a year ago was 41%, so a significant increase has been achieved over the last two years.
eMite new licence sales came in at 45% growth compared to the same period last year. This has been a great result, achieved in parallel with the significant work done to complete the acquisition and integrate the business processes during this period. Again, the eMite new sales pipeline for Q3 looks very strong at this early stage with good numbers expected for this full quarter.
eMite total invoicing, which includes base business renewals as well as new sales, came in at $3.23 million for the half, showing growth of 58% compared to the same period last year.
Total invoicing for the two key business components SNARE and Emite combined came in at $7.4 million which was a combined growth of 74% compared to the same period last year.
The current cash position is at a healthy $6.4 million.