Highlights

  • Biztrak revenue reached RM526,000 (about A$184,000), up from RM429,000 a year earlier, mainly on licences and subscriptions.
  • Net operating cash outflow was A$123,000, leaving cash at A$697,000 versus A$820,000 at the start of the quarter.
  • Platformo estimates about five quarters of funding at current outflows, and no financing facilities are drawn or available.
  • Product work spanned MSB, Online and WMS, including a mobile framework migration to .NET MAUI heading into internal testing.

Small software business. Steady growth. A shrinking cash pile. Platformo Ltd (ASX:PFM) lodged its September 2026 quarterly report and Appendix 4C on 27 October 2026, and the numbers tell a story of rising revenue from its Malaysian Biztrak unit set against ongoing cash costs.

Revenue and collections

Unaudited revenue from Biztrak was RM526,000 (about A$184,000), up from RM429,000 (A$150,000) in the same quarter of 2025. The company attributed the 22.6 per cent increase mainly to MSB accounting software licence revenue and cloud hosting subscriptions.

Cash collections for the quarter were RM498,000 (A$174,000), about 3 per cent below the RM515,000 (A$180,000) collected in the June 2026 quarter. Customer receipts in the Appendix 4C were A$174,000 for the quarter and A$557,000 for the year to date. The company did not disclose customer numbers or total transaction value.

The revenue figures are unaudited and reported in Malaysian ringgit, with Australian dollar equivalents supplied by the company. Year-to-date receipts of A$557,000 compare with year-to-date operating cash outflow of A$383,000, so receipts covered part of the group's cash costs over the nine months.

Cash flow and runway

Net operating cash outflow was A$123,000 for the quarter. Staff costs were A$205,000, administration and corporate costs A$82,000, and product manufacturing and operating costs A$13,000. There was no investing or financing cash flow, and cash at quarter end was A$697,000, down from A$820,000 at the start of the quarter.

The company estimated five quarters of funding at the current rate of outflow, calculated as A$697,000 divided by A$123,000 and rounded down. It said no financing facilities were drawn or available. Payments to related parties were A$67,000, all non-executive director fees including superannuation, included within operating cash flow.

The report carries some presentation inconsistencies. Two figures in the net change row of the Appendix 4C are labelled 820 and 1,084, which appear to be opening cash balances rather than net changes. The entity is named Platformo Limited in the 4C, while the report uses Platformo Ltd. A separate A$3,000 Biztrak cash outflow is not reconciled in the 4C.

Product development

For Biztrak MSB, the company said it completed enhancements across database utilities, accounts payable, e-invoicing, Maybank ePay, eBridge and customer integrations. The Singapore InvoiceNow integration, a sales summary report and a general ledger audit trail await user acceptance.

Biztrak Online delivered batch allocation clearing, faster accounts receivable ageing exports, standardised party list search and a password visibility control. Work continues on sales replacement, new financial reports and e-invoice import.

Biztrak WMS received enhanced import functions and mobile order picking, and it completed migration of its mobile framework from Android Xamarin to .NET MAUI, with internal testing to follow. Work on a mobile payment approval and enquiry module is continuing.

In marketing, the company continued search engine optimisation, website updates and blog content, and exhibited at The Manufacturing and Trade Exposition 2026 in Kuala Lumpur.

Outlook

Management expects a competitive environment with international pricing pressure and rising costs. Its focus will be targeted digital marketing, a stronger domestic sales pipeline, prudent assessment of regional partnerships and disciplined cost management. No numerical guidance was given.

Taken together, the report describes a small software business whose quarterly receipts of A$174,000 remain below its operating costs, with cash falling by A$123,000 in the quarter. The stated five-quarter runway depends on outflows staying near current levels, and the report does not set out capital raising plans. The next milestones are user acceptance of the pending MSB features and internal testing of the WMS mobile application, neither of which carries a date.