Qoria's innovative integration of AI products for child cyber safety has resulted in a 30 per cent growth in annual recurring revenue in the US and Oceanic markets.
Perth founded international edtech provider Qoria has posted bumper half-year results, buoyed by innovative integration of AI products for child cyber safety, resulting in a 30 per cent growth in annual recurring revenue in the US and Oceanic markets.
The Tim Levy-led company posted a 26 per cent increase in annual recurring revenue across its software products.
Its K12 division surpassed the $100 million ARR milestone, ending H1 FY25 with $105 million ARR.
The company acquired advanced data analytics and AI innovator Ayra International, trading as Octopus BI, in late September for $5 million cash and some 11,000,000-performance rights contingent on OctopusBI achieving approximately $8 million in ARR within 30 months.
Its first OctopusBI product, Edtech Insights, launched this month and is expected to propel the company to a strong back half of the year, despite the March quarter being traditionally its quietest.
Commenting on the acquisition, Qoria managing director Timy Levy said OctopusBI had the right technology and the right team at the right time.
“OctopusBI creates a leapfrog opportunity for Qoria to be embedded in the strategic management of modern schools,” he said.
Complementing its acquisition of OctopusBI was the company’s rollout of several AI-driven products in the past year including real-time categorisation of websites using integrated AI image analysis.
It allows websites to be categorised accurately regardless of language or text content and automatically blurs sensitive content – it’s a technology the company is touting as a major turning point education and cyber software.
In Q3, the company will launch AI analysis of student cloud accounts as an additional feature of its Monitor safeguarding solution.
The scans will essentially screen student cloud accounts for illegal or harmful material.
It will also provide AI-driven behavioural alerts for parents, covering internet searches, messaging and more.
In the company’s quarterly update, it indicated an internet search for ‘sad songs’ on multiple occasions could notify a parent of potential mental health issues for their child, like depression.
It could be used to identify bullying in messaging apps – or even planned truancy, should a student receive a message saying, “let’s skip class”.
“Parents (are) increasingly concerned with social media and gaming behaviours,” the quarterly update said.
“Insights into messaging is the number one demanded feature by parents.”
Overall, cash flows from operating activities were $4.2 million for the December quarter, up from $2.7 million on the prior corresponding period, or 56 per cent.
The company’s debt position also remains healthy, with some $40 million in funding and net debt of $10.8 million on December 31.
Qoria shares are currently trading at 47 cents per share.
