(
Spotlio is also pleased to announce that it has received binding commitments from certain existing shareholders and key management team members in relation to a new debt facility with a total loan amount of approx.
During the third quarter, the relentless focus on cost rationalization measures led to a 24% reduction in personnel and other operating expenses compared to last year. At the end of the quarter, Spotlio undertook a further strategic restructuring, culminating in successfully executing initiatives projected to save an additional approx.
"The recent period has been eventful for us, with the forging of new partnerships and client commitments. As the summer season draws near, we're especially excited about our pipeline of opportunities within the Parks & Attractions sector to kickstart our summer offerings across
Erlandson further commented, " Our strategic endeavors in cost management and operational efficiency have significantly reduced our cash burn. By continuously refining our operations and seeking new avenues for growth, all while prioritizing financial stability, we're setting our sights on sustainable, long-term profitability."
Disclosure regulation
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
Contacts
Christian Erlandson , CEO, +44 7795953849, christian.erlandson@spotlio.com- James Price, CFO, Spotlio AS, +34 972 001 021, james.price@spotlio.com
About Spotlio AS
Spotlio AS is a trailblazing force in destination digital technology, offering tailor-made solutions - from apps to e-commerce, and almost everything in between - that redefine the way consumers interact with resorts, parks, and attractions. With a decade-long legacy of excellence, Spotlio empowers clients with innovative white label digital solutions and pricing services, fostering connections and enhancing experiences on a global scale.
Attachments
- Q3 FY24 Earnings Presentation.pdf
© NTB Norway, source