Dear investors, we are pleased to announce that Xref Ltd has reported a 10% increase in revenue for the fiscal year ending on 30 June 2023, reaching A$20.4 million. Despite this positive growth, the company recorded a net loss of A$3.4 million, primarily due to a substantial increase in employee expenses and share-based payments.

The revenue growth was driven by a 3% increase in the candidate referencing segment, reaching A$16 million, as well as a 10% increase in the Australian market segment, amounting to A$15.7 million. Additionally, our expansion efforts in the United States proved successful, with a 19% revenue increase to A$1.1 million.

Xref Limited's business model focuses on providing innovative HR and recruitment technology solutions, including candidate referencing, ID verification, and engagement surveys. Our platforms offer fast and efficient reference checking, identity verification, and fraud prevention services to help organizations make informed decisions.

We encourage investors to delve deeper into our financial results and business operations by reviewing the full announcement. Your questions and feedback are valuable to us, so please do not hesitate to reach out for further clarification or information. Thank you for your continued support.