Beam Communications signals an inflection point as earnings reach record highs

Beam Communications (ASX: BCC) chief executive officer and president Michael Capocchi and chief financial officer Dean Sleigh join Small Caps to discuss the company's strong finish to FY2023.Show more

The SatCom specialist concluded its 2023 financial year with record earnings, a 75% increase in operating cash inflow to $2.5 million, and a 39% cash balance increase to $5 million.

The company also achieved record levels of sales and royalty increases across all business units, including strong demand for its SatPhone Shop business and an $18 million contract with global satellite leader Iridium Communications.

Mr Capocchi attributed the success to unwinding trade working capital and the successful launch of products like the Iridium GO! exec device.

He expressed optimism for continued growth in the global mobile satellite services sector, citing the company's strong balance sheet, growing cash flows, and a positive outlook for the joint venture with ZOLEO Inc.

Articles:
https://smallcaps.com.au/beam-communications-signals-continued-growth-strong-finish-fy-2023/
https://smallcaps.com.au/beam-communications-fy23-earnings-revenue-expected-reach-record-highs/
https://smallcaps.com.au/apple-starlink-benefit-or-threat-companies-beam-communications/

For more information on Beam Communications:
https://smallcaps.com.au/stocks/asx-bcc/

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