PERTH, AUSTRALIA, July 27, 2022 (GLOBE NEWSWIRE) — Locafy Limited (NASDAQ: LCFY, LCFYW) (“Locafy” or “the Company”), a globally recognized software-as-a-service technology company that specializes in local search engine marketing, today announced preliminary unaudited earnings for the fiscal year ended June 30, 2022 (“FY22”), and additional select unaudited metrics of performance.

FY22 Preliminary Unaudited Financial Results:

• Revenue is expected to be A$4.2man increase of approximately 92% compared to the fiscal year ended June 30, 2021.
• Gross Profit is expected to increase by around 81% compared to the fiscal year ended June 30, 2021.
• Fast growing distribution channel with 421% growth in Total Partners to 135 as of June 30, 2022. The size and caliber of these partners continues to improve as we demonstrate the in-market performance of our local search solutions.

“The fiscal year ended June 30, 2022 was a year of change for Locafy, which included our successful Nasdaq IPO on March 25, 2022,” said Gavin Burnett, CEO and Founder.

“Locafy enjoyed satisfactory revenue growth of around 92% in the last financial year, and the Locafy team is now focused on achieving profitability in FY23 through a combination of cost management, profitable organic growth and profit-accretive acquisition,” said Mr Burnett.

“This tremendous growth and our strong competitive position would not have been possible without the talent and determination of the entire Locafy team.”

Current Trading and Outlook

Monthly Recurring Revenue (MRR) for July 2022 is expected to be $500,000 based on current contracts, an increase of approximately 110% compared to July 2021.

Mr Burnett commented, “The new financial year has started well and we look forward to continuing the upward momentum seen in the previous financial year. Our core values ​​of growth, innovation and resilience keep Locafy at the forefront of competition.

We intend to release our technology roadmap for FY 2023 in the near future, which will demonstrate our commitment to continuous innovation to stay ahead of the pack and drive tangible benefits for our channel partners and customers.

We believe these upcoming releases will increase our competitive advantage in the local search market where we are quickly establishing ourselves as leaders, benefiting our clients with their digital presence needs.”

Financial Disclosure Advice

Locafy has not yet completed its reporting process for its financial year ended June 30, 2022. The preliminary results presented here are approximate and based on its reasonable estimates and the information available to it at this time. As such, Locafy’s actual results may differ from the preliminary results presented herein and will not be finalized until Locafy reports its final results for its financial year ended June 30, 2022 after complete its normal accounting procedures at the end of the financial year, including the implementation of its internal controls over financial reporting. In addition, any statements regarding Locafy’s estimated financial performance for the fiscal year ended June 30, 2022 do not reflect all of the information necessary for an understanding of Locafy’s financial condition and results of operations. operations as of and for the annual period ended June 30, 2022.

Non-deal roadshow hosted by HC Wainwright & Co

Gavin Burnett, CEO and founder, and David Penner, CTO, will participate in a virtual non-deal roadshow (“NDR”) with HC Wainwright & Co on Wednesday, July 27, 2022 and Thursday July 28, 2022.

The Company’s NDR presentation materials can be accessed through the Investor Relations section of the Company’s website at https://investor.locafy.com.

About Locafy Limited
Founded in 2009, Locafy’s (NASDAQ: LCFY, LCFYW) mission is to revolutionize the US$700 billion SEO sector. We help businesses and brands increase search engine relevance and prominence in a specific vicinity using a quick, easy, and automated approach.

For more information, visit www.locafy.com

Safe Harbor Statement
This press release contains forward-looking statements that are subject to significant risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as “subject to”, “believe,” “anticipate,” “plan,” “expect,” “intend,” “estimate,” “project ,” “can,” “could,” “should,” “could,” “could,” “could,” their negatives, variations thereof and similar expressions, or in through strategy discussions, although not all forward-looking statements contain these words. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, they involve assumptions, risks, and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these statements, which speak only as of the date of this press release. The actual The Company’s results may differ materially from those anticipated in these forecasts ag in the future as a result of various factors, including those discussed in the Company’s periodic reports filed with the Securities and Exchange Commission and available on its website (http: //www.sec.gov) . All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified by the entirety of these factors. Except as required under securities laws, the Company undertakes no duty to update these forward-looking statements.

Contacts

Investors Locafy Investor Relations Locafy is limited E: [email protected]

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