Announcement PDF Vinyl Group Ltd (Formerly known as Jaxsta Limited) Appendix 4D Half-year report 1. Company details Name of entity: ABN: Reporting period: Previous period: Vinyl Group Ltd 15 106 513 580 For the half-year ended 31 December 2023 For the half-year ended 31 December 2022 2. Results for announcement to the market $ Revenues from ordinary activities up 317.9% to 876,211 Other income and interest revenue down 0.5% to 237,311 Loss from ordinary activities after tax attributable to the owners of Vinyl Group Ltd up 5.7% to (4,762,293) Loss for the half-year attributable to the owners of Vinyl Group Ltd up 5.7% to (4,762,293) Dividends There were no dividends paid, recommended or declared during the current financial period. Comments The loss for the Group after providing for income tax amounted to $4,762,293 (31 December 2022: $4,506,365). Refer to Market announcement, which precedes the Appendix 4D, for further commentary on the results for the half-year ended 31 December 2023. 3. Net tangible assets Reporting period Cents Net tangible assets per ordinary security 4. Control gained over entities Not applicable. 5. Loss of control over entities Not applicable. 6. Dividends Current period There were no dividends paid, recommended or declared during the current financial period. Previous period There were no dividends paid, recommended or declared during the previous financial period. (1.29) Previous period Cents (0.99) Vinyl Group Ltd (Formerly known as Jaxsta Limited) Appendix 4D Half-year report 7. Dividend reinvestment plans Not applicable. 8. Details of associates and joint venture entities Not applicable. 9. Foreign entities Details of origin of accounting standards used in compiling the report: Not applicable. 10. Audit qualification or review Details of audit/review dispute or qualification (if any): The financial statements were subject to a review by the auditors and the review report is attached as part of the Interim Report. The review report is expected to contain a paragraph addressing material uncertainty related to going concern. 11. Attachments Details of attachments (if any): The Interim Report of Vinyl Group Ltd for the half-year ended 31 December 2023 is attached. 12. Signed Signed ___________________________ Linda Jenkinson Non-Executive Director and Chair Melbourne Date: 29 February 2024 Interim Report 2024 Inside this report General information The financial statements cover Vinyl Group Ltd as a Group consisting of Vinyl Group Ltd and the entities it controlled at the end of, or during, the half-year. The financial statements are presented in Australian dollars, which is Vinyl Group Ltd’s functional and presentation currency. Vinyl Group Ltd is a listed public company limited by shares, incorporated and domiciled in Australia. Its registered office and principal place of business is: 11 Wilson Street, South Yarra VIC 3141 A description of the nature of the Group’s operations and its principal activities are included in the directors’ report, which is not part of the financial statements. The financial statements were authorised for issue, in accordance with a resolution of directors, on 29 February 2024. The directors have the power to amend and reissue the financial statements. Chief Executive Officer’s Letter “ Dear Shareholders, Product Growth I am pleased to have this opportunity to celebrate with shareholders, the remarkable growth Vinyl Group Ltd has achieved since the beginning of this financial year. Our journey over the last six months has included The successful integration of Vampr and Jaxsta was a key product milestone providing our creators with a unique blend of recognition and opportunity through enhanced music profiles. Additionally, we introduced a numerous successful product enhancements, further operational optimisation, key strategic transactions and unprecedented financial growth, setting the stage for a transformative year ahead and a clear path to profitability. new boutique business tier on Jaxsta, tailored to meet the specialised needs of our customers which we anticipate will drive further adoption of our credits product this year. The company’s combined revenues are now on an annualised trajectory of approximately $10M, redefining the Vinyl Group and the path ahead. Financial Highlights: 4.3x Increase in Revenue Vinyl.com: A Record-Breaking Success Our annualised revenue run rate reached $1.6M at the end of December 2023, a 4.3x increase from the same period last year. This growth has occurred as a direct result of the successful implementation of our product roadmap, as well as focused sales and marketing efforts driving increased demand for our services. FY2024 H1 revenues surpassed the total revenue of the entire FY2023 year, signalling a new benchmark for success and a clear indicator of the scalability of our integrated platform. Ending the year on a high note, Vinyl.com achieved four straight months of record revenues, a clear indication of the company’s growing influence in the music e-commerce space. Looking Ahead: Momentum The first half of FY24 has been a period of significant achievement and growth. As we look to the future, we remain steadfast in our pursuit of growth, profitability and excellence, driven by innovation and an unwavering commitment to our customers and shareholders. Expansion of our Global Media Footprint The recently completed acquisition of The Brag Media, funded by an $11M funding facility from Richard White, provides the company with a powerful flywheel for driving group product revenue growth this year and well into the future. The company now owns key online publications such as The Music Network and Tone Deaf, as well as ANZ licences publishing major global mastheads including Rolling Stone and Variety. The acquisition of Brag Media will fast track our mission to offer world class e-commerce and creator tools and solutions to the music industry and music consumers. Thank you for being an integral part of this journey. Sincerely, Josh Simons 3 Revenues H1’23 vs H1’24 Operating Cash Flows H1’23 vs H1’24 Breakdown of Operating Loss H1’23 vs H1’24 Vinyl Group Ltd (Formerly known as Jaxsta Limited) | Interim Report 2024 Directors’ Report Directors’ Report The directors present their report, together with the financial statements, on the consolidated entity (referred to hereafter as the ‘Group’) consisting of Vinyl Group Ltd (referred to hereafter as the ‘Company’ or ‘parent entity’) and the entities it controlled at the end of, or during, the half-year ended 31 December 2023. Directors The following persons were directors of Vinyl Group Ltd during the whole of the financial half-year and up to the date of this report, unless otherwise stated: Linda Jenkinson Robert Kenneth (‘Ken’) Gaunt Ben Katovsky Steve Gledden Non-Executive Director and Chair Non-Executive Director Non-Executive Director Non-Executive Director Principal activities During the financial half-year the principal continuing activities of the Group consisted of creating an online platform to hold official music metadata and to develop a repository of official music-related information, comprising liner notes and label copy. Dividends There were no dividends paid, recommended or declared during the current or previous financial half-year. Review of operations The loss for the Group after providing for income tax amounted to $4,762,293 (31 December 2022: $4,506,365). The Group had a significant increase in revenues as part of an increase in retail performance of the Vinyl.com store during the Christmas sales period, the integration of the Vampr services into the half year and sustained growth in our B2B services. This resulted in total revenues of $876,211 for the half year, a growth of 317.9% in the half year compared to the previous half year. The Group continued realigning its operations as part of the requirements for the new products and services both organic and acquired, increasing its marketing spend to acquire customers for its e-commerce and digital platforms and setting its structure to accommodate future requirements. The Group also announced the acquisition of the Brag Media which it completed on 31 January 2024 which will provide additional channels in the music industry and comes with a significant revenue base. To that end, the Group entered into an $11 million funding facility with Richard White to provide funds for the acquisition and for working capital for both the integration and ongoing Vinyl Group businesses. The above performance and changes have increased the existing and future revenues of the Group with the addition of the Brag Media to the results from February onwards. The combination and synergies from that deal will also provide reduction in the cash burn as the Group looks to keep growing the revenues of all key brands to enhance operating cash flows. The half-year ended 31 December 2023 was a period of high growth for the Group and Management continue to achieve on their goals as they continue on their path towards profitability. 6 Vinyl Group Ltd (Formerly known as Jaxsta Limited) | Interim Report 2024 Directors’ Report Significant changes in the state of affairs Change in name On 5 December 2023, the Group announced a change in its name to Vinyl Group Ltd (ASX code: VNL). Changes in shares on issue On 13 September 2023, the Group converted Tranche #1 of the Songtradr convertible note into ordinary shares, reducing $1,774,597 in debt at the pre set price of 2.1 cents, resulting in the issue of 84,504,631 ordinary shares. On 29 December 2023, the Group also converted the Rickert convertible note from the Vampr acquisition into ordinary shares, reducing $413,459 in debt at the pre-set price of 5.0 cents, resulting in the issue of 8,269,185 ordinary shares. There were no other significant changes in the state of affairs of the Group during the financial half-year. Matters subsequent to the end of the financial half-year On 16 January 2024 the Company appointed UHY Haines Norton Chartered Accountants (UHY) as the auditor in accordance with ASX Listing Rule 3.16.3. On 21 December 2023, the Group announced it had entered into an agreement to purchase Australia’s largest youth publisher The Brag Media, subject to completion which had not been met by 31 December 2023. On 31 January 2024 the Company had confirmation of all deliverables been satisfied and successfully completed the acquisition. The purchase price was $8,050,792 and was comprised of consideration of $1,291,979 and repayment of loans of $6,758,813. There is also a further $2,000,000 payable in cash or stock based on a sliding scale dependent on The Brag Media achieving both a minimum revenue of $12.0 million and a minimum EBITDA of $2.0 million up to maximum of $15.5 million in revenue and maximum EBITDA of $2.8 million. The Group also entered into an $11 million placement and debt facility provided by WiseTech Global (ASX:WTC) Founder and CEO Richard White on 30 January 2024. The facility is a combination of debt and equity, with a placement of $4,044,587 at a price of 4.482 cents for an issue of 90,240,674 ordinary shares, and a debt component of $6,955,413 that the Company is seeking shareholder approval to convert at a price of 4.482 cents at an upcoming extraordinary general meeting which would result in a further issue of 155,185,475 ordinary shares. No other matter or circumstance has arisen since 31 December 2023 that has significantly affected, or may significantly affect the Group’s operations, the results of those operations, or the Group’s state of affairs in future financial years. Auditor’s independence declaration A copy of the auditor’s independence declaration as required under section 307C of the Corporations Act 2001 is set out immediately after this directors’ report. This report is made in accordance with a resolution of directors, pursuant to section 306(3)(a) of the Corporations Act 2001.. On behalf of the directors ___________________________ Linda Jenkinson Non-Executive Director and Chair 29 February 2024 7 Level 9 | 1 York Street | Sydney | NSW | 2000 GPO Box 4137 | Sydney | NSW | 2001 t: +61 2 9256 6600 | f: +61 2 9256 6611 sydney@uhyhnsyd.com.au www.uhyhnsydney.com.au Auditor’s Independence Declaration Under Section 307C of the Corporations Act 2001 To the Directors of Vinyl Group Ltd (formerly known as Jaxsta Limited), I declare that, to the best of my knowledge and belief, in relation to the review for the half-year ended 31 December 2023, there have been: (i) no contraventions of the auditor independence requirements as set out in the Corporations Act 2001 in relation to the review; and (ii) no contraventions of any applicable code of professional conduct in relation to the review. This declaration is in respect of Vinyl Group Ltd and the entities it controlled during the financial period. Mark Nicholaeff Partner Sydney 29 February 2024 UHY Haines Norton Chartered Accountants An association of independent Ƃrms in Australia and New Zealand and a member of UHY International, a network of independent accounting and consulting Ƃ rms. UHY Haines Norton—ABN 85 140 758 156 NSWBN 98 133 826 Liability limited by a scheme approved under Professional Standards Legislation. 8 Passion beyond numbers Vinyl Group Ltd (Formerly known as Jaxsta Limited) | Interim Report 2024 Condensed Consolidated Financial Statements Condensed Consolidated Financial Statements Vinyl Group Ltd (Formerly known as Jaxsta Limited) Condensed Consolidated Statement of profit or loss and other comprehensive income For the half-year ended 31 December 2023 Note Consolidated 31 Dec 2023 31 Dec 2022 $ $ Vinyl Group Ltd (Formerly known as Jaxsta Limited) Condensed Consolidated Statement of profit or loss and other comprehensive Condensed Consolidated Statement of profit or loss and other comprehensive income Revenue 3 876,211 209,648 income for the half-year ended For the half-year ended 31 December 2023 31 December 2023 Other income Interest revenue calculated using the effective interest method Expenses Raw materials and consumables used Revenue Employee benefits expense Product development expense Other income Depreciation andcalculated amortisation expense Interest revenue using the effective interest method Impairment of assets Professional Expenses fees Marketing expense Raw materials and consumables used Occupancy expense Employee benefits expense Fair value loss on financial liabilities Product development expense Other expenses Depreciation and amortisation expense Finance costs Impairment of assets Professional fees Loss before income tax expense Marketing expense Occupancy expense Income taxloss expense Fair value on financial liabilities Other expenses Loss after income tax expense for the half-year attributable to the owners of Finance costs Vinyl Group Ltd Loss before income tax expense Other comprehensive income Income tax expense Items that may be reclassified subsequently to profit or loss Foreign currency translation Loss after income tax expense for the half-year attributable to the owners of Vinyl Group Ltd Other comprehensive income for the half-year, net of tax Other comprehensive income Total comprehensive income for the half-year attributable to the owners of Vinyl Ltd Items Group that may be reclassified subsequently to profit or loss Foreign currency translation Other comprehensive income for the half-year, net of tax Basic earnings per share Total income for the half-year attributable to the owners of Dilutedcomprehensive earnings per share Vinyl Group Ltd Basic earnings per share Diluted earnings per share 4 Note 3 5 4 5 5 5 13 5 5 5 13 5 15 15 15 15 221,822 Consolidated232,860 31 Dec15,489 2023 31 Dec 5,676 2022 $ $ (458,800) 876,211 (973,423) (525,564) 221,822 (186,530) 15,489 (651,443) (307,776) (458,800) (6,992) (973,423) (2,241,451) (525,564) (320,985) (186,530) (202,851) (651,443) (4,762,293) (307,776) (6,992) (2,241,451) (320,985) (202,851) (4,762,293) (4,762,293) (1,331) 209,648 (1,696,294) (384,584) 232,860 (86,716) 5,676 (68,016) (266,456) (66,003) (1,331) (6,216) (1,696,294) (1,775,157) (384,584) (159,153) (86,716) (444,623) (68,016) (266,456) (4,506,365) (66,003) (6,216) (1,775,157) (159,153) (444,623) (4,506,365) (4,506,365) - - (34,233) (4,762,293) (34,233) (4,506,365) - (4,796,526) (34,233) Cents (34,233) (0.84) (0.84) (4,796,526) (4,506,365) Cents (1.32) (1.32) (4,506,365) Cents Cents (0.84) (0.84) (1.32) (1.32) The above condensed consolidated statement of profit or loss and other comprehensive income should be read in conjunction with the accompanying notes 5 9 Vinyl Group Ltd (Formerly known as Jaxsta Limited) | Interim Report 2024 Condensed Consolidated Financial Statements Vinyl Group Ltd Consolidated Statement of financial position as at 31 December 2023 Condensed (Formerly known as Jaxsta Limited) Condensed Consolidated Statement of financial position s at 31 December 2023 Note Consolidated 31 Dec 2023 30 Jun 2023 $ $ ssets Current assets ash and cash e uivalents rade and other receivables Other assets otal current assets 6 7 1,248,112 394,797 111,425 1,754,334 2,966,748 919,551 29,205 3,915,504 8 11,541 5,592,056 5,603,597 18,329 5,761,390 5,779,719 7,357,931 9,695,223 848,977 63,150 77,975 52,587 1,042,689 868,357 40,332 4,547,882 120,515 5,577,086 412,315 7,620,156 13,560 8,046,031 431,239 5,055,960 29,107 5,516,306 Total liabilities 9,088,720 11,093,392 Net liabilities (1,730,789) (1,398,169) 51,171,581 5,484,854 (58,387,224) 46,873,583 5,353,179 (53,624,931) (1,730,789) (1,398,169) Non-current assets Property, plant and e uipment Intangibles otal non-current assets Total assets Liabilities Current liabilities rade and other payables ontract liabilities Borrowings and derivative financial instruments Employee benefits otal current liabilities 9 10 Non-current liabilities ontract liabilities Derivative financial instruments Employee benefits otal non-current liabilities 10 E uity Issued capital Reserves ccumulated losses 11 Total deficiency in e uity The above condensed consolidated statement of financial position should be read in conjunction with the accompanying notes 10 Vinyl Group Ltd (Formerly known as Jaxsta Limited) | Interim Report 2024 Condensed Consolidated Financial Statements Vinyl Group Ltd Consolidated Statement of changes in equity for the half-year ended Condensed (Formerly known as Jaxsta Limited) 31 December 2023Statement of chan es in e uity Condensed Consolidated For the half-year ended 31 December 2023 ssued ccumulated Total deficiency in e uity $ Consolidated capital $ Reserves $ losses $ Balance at 1 uly 2022 38,620,271 4,806,801 (42,832,790) 594,282 oss after income tax expense for the half-year Other comprehensive income for the half-year, net of tax - - (4,506,365) - (4,506,365) - otal comprehensive income for the half-year - - (4,506,365) (4,506,365) 359,573 - 268,087 - 359,573 268,087 38,979,844 5,074,888 (47,339,155) (3,284,423) ccumulated Transactions with owners in their capacity as owners ontributions of e uity, net of transaction costs hare-based payments (note 16) Balance at 31 December 2022 ssued Consolidated capital $ Reserves $ losses $ Total deficiency in e uity $ Balance at 1 uly 2023 46,873,583 5,353,179 (53,624,931) (1,398,169) oss after income tax expense for the half-year Other comprehensive income for the half-year, net of tax - (34,233) (4,762,293) - (4,762,293) (34,233) otal comprehensive income for the half-year - (34,233) (4,762,293) (4,796,526) Transactions with owners in their capacity as owners ontributions of e uity, net of transaction costs (note 11) hare-based payments (note 16) 4,297,998 - 165,908 - 4,297,998 165,908 Balance at 31 December 2023 51,171,581 5,484,854 (58,387,224) (1,730,789) The above condensed consolidated statement of changes in equity should be read in conjunction with the accompanying notes 11 Vinyl Group Ltd (Formerly known as Jaxsta Limited) | Interim Report 2024 Condensed Consolidated Financial Statements Vinyl Group Ltd Consolidated Statement of cash flows for the half-year ended Condensed (Formerly known as Jaxsta Limited) 31 December 2023Statement of cash flows Condensed Consolidated For the half-year ended 31 December 2023 Note Cash flows from operatin activities Receipts from customers (inclusive of ) Payments to suppliers and employees (inclusive of ) Receipts from grants - research and development (inclusive of Receipts from grants - export development (inclusive of ) Consolidated 31 Dec 2023 31 Dec 2022 $ $ 785,251 (3,126,664) 751,656 21,688 108,191 (2,762,347) 1,039,787 36,600 Interest received Interest and other finance costs paid (1,568,069) 12,546 - (1,577,769) 4,579 (3,951) et cash used in operating activities (1,555,523) (1,577,141) - - (5,500) (157,613) 372,950 (13,377) (64,559) (163,113) 295,014 et decrease in cash and cash e uivalents ash and cash e uivalents at the beginning of the financial half-year (1,718,636) 2,966,748 (1,282,127) 3,123,935 ash and cash e uivalents at the end of the financial half-year 1,248,112 1,841,808 ) et cash from investing activities Cash flows from financin activities Proceeds from issue of shares hare issue transaction costs Repayment of borrowings 11 et cash (used in) from financing activities The above condensed consolidated statement of cash flows should be read in conjunction with the accompanying notes 12 Vinyl Group Ltd (Formerly known as Jaxsta Limited) | Interim Report 2024 Notes to the Financial Statements Vinyl Group Ltd (Formerly known as Jaxsta Limited) Notes to the financial statements 31 December 2023 Notes to the financial statements Note 1 aterial accountin policy information Note 1. Material accounting policy information hese general purpose financial statements for the interim half-year reporting period ended 31 December 2023 have been prepared in accordance with ustralian ccounting tandard B 134 Interim Financial Reporting and the orporations ct 2001, as appropriate for for-profit oriented entities. ompliance with B 134 ensures compliance with International Financial Reporting tandard I 34 Interim Financial Reporting . hese general purpose financial statements do not include all the notes of the type normally included in annual financial statements. ccordingly, these financial statements are to be read in con unction with the annual report for the year ended 30 une 2023 and any public announcements made by the ompany during the interim reporting period in accordance with the continuous disclosure re uirements of the orporations ct 2001. he accounting policies adopted are consistent with those of the previous financial year and corresponding interim reporting period, unless otherwise stated. New or amended ccountin Standards and nterpretations adopted he roup has adopted all of the new or amended ccounting tandards and Interpretations issued by the ustralian ccounting tandards Board ( B ) that are mandatory for the current reporting period. he adoption of these ccounting tandards and Interpretations did not have any significant impact on the financial performance or position of the roup during the financial half-year ended 31 December 2023 and are not expected to have a significant impact for the full financial year ending 30 une 2024. ny new or amended ccounting tandards or Interpretations that are not yet mandatory have not been early adopted. Goin concern he roup incurred a loss after tax of 4,762,293 (31 December 2022 4,506,365) and had a net cash outflow from operations of 1,555,523 (31 December 2022 1,577,141) for the half-year ended 31 December 2023. s at 31 December 2023, the roup had net current assets of 711,645 (30 une 2023 net current liabilities of 1,661,582). s at the signing date of the Financial tatements, the roup had cash assets of 3,988,343. he roup is currently executing on the next phase of its strategy, accelerating the growth of its existing platforms and adding complementary products and services organically and inorganically. he organic growth is led by its inyl.com e-commerce platform that was launched in 2023 and went through its first hristmas sales period. B2B customer growth also provided a further boost to the revenues in the period. he ac uisition of ampr in 2023 is one of the inorganic additions to the portfolio that had an impact to the total revenue growth. s such, total revenues grew 318 in the half year compared to the previous half year to 876,211. Management has prepared cash flow forecasts for the which assumes continuity of business on the basis of the following events occurring he roup completed the ac uisition of the Brag Media on 31 anuary 2024, and although not reflected in the financials at 31 December 2023, their forward impact on operations will be part of the ongoing growth strategy as they had unaudited revenues of 8.38 million and net operating profit of 305 in the year ended 30 une 2023. he integration of the Brag Media business is incorporated into our forecasts for the period starting 1 February 2024 onwards the continued evolution of the inyl.com platform to expand its product offering, geographical reach and additional innovation to become a recognised destination for music consumers the continued integration of our different platforms to expand the product offering whilst reducing the running cost of our tech infrastructure and If needed, a capital or debt raising to meet cash li uidity re uirements and fund the working capital re uirements of the roup as it continues its path to profitability. he Directors believe that the roup is a going concern and that the above events will eventuate in the short term and accordingly the financial statements have been prepared on a going concern basis. In the Group event that Vinyl Ltdthe above assumptions do not eventuate, there are material uncertainties that cast significant doubt over the ability of theknown roupas to continue as a going concern. s a result, the roup may not be able to realise its assets and extinguish (Formerly Jaxsta Limited) its liabilities the ordinary course of operations and at the amounts stated in the financial statements. Notes to theinfinancial statements 31 December 2023 o ad ustments have been made to the recoverability and classification of recorded asset values and the amount and classification of liabilities that might necessary should the ompany and the roup not continue as a going concern. Note 1 aterial accountin policybeinformation (continued) Comparatives omparatives have been realigned where necessary, to be consistent with current year presentation. here was no effect on profit, net assets or e uity. Note 2 Operatin se ments Identification of reportable operating segments 13 (Formerly known as Jaxsta Limited) Notes to the financial statements 31 December 2023 Note 1 aterial accountin policy information (continued) Vinyl Group Ltd (Formerly known as Jaxsta Limited) | Interim Report 2024 Comparatives Notes to the Financial Statements omparatives have been realigned where necessary, to be consistent with current year presentation. here was no effect on profit, net assets or e uity. Note Operating segments Note 2 2. Operatin se ments Identification of reportable operating segments Operating segments are presented using the management approach , where the information presented is on the same basis as the internal reports provided to the hief Operating Decision Makers ( ODM ). he ODM is responsible for the allocation of resources to operating segments and assessing their performance. Management identifies one operating segment based on the information is as disclosed throughout these financial statements. he roup s segment operating loss reconciles to the roup s service lines, therefore the operating segment roup s loss before tax as presented in its financial statements. he information reported to the ODM is on a monthly basis. eographical information Geo raphical non-current Sales to external customers assets 31 Dec 2023 31 Dec 2022 31 Dec 2023 30 Jun 2023 $ $ $ $ ustralia mericas Europe, Middle East and frica sia Pacific 89,899 730,708 54,021 1,583 5,047 148,520 55,818 263 5,603,597 - 5,779,719 - 876,211 209,648 5,603,597 5,779,719 he geographical non-current assets above are exclusive of, where applicable, financial instruments, deferred tax assets, post-employment benefits assets and rights under insurance contracts. 14 Vinyl Group Group Ltd Ltd(Formerly known as Jaxsta Limited) | Interim Report 2024 Vinyl Vinyl Group Ltd as Jaxsta Limited) (Formerly known Notes to the Financial Statements (Formerly known as Jaxsta Limited) Notes to the financial statements Notes to the financial statements 31 December 2023 31 December 2023 Note 3 3. Revenue Note Revenue Note 3 Revenue Consolidated 31 DecConsolidated 2023 31 Dec 2022 31 Dec $ 2023 31 Dec $ 2022 $ $ ales ales 876,211 876,211 209,648 209,648 isaggregation of revenue isaggregation of revenue he disaggregation of revenue from contracts with customers is as follows he disaggregation of revenue from contracts with customers is as follows Consolidated 31 DecConsolidated 2023 31 Dec 2022 31 Dec $ 2023 31 Dec $ 2022 $ $ ajor product lines ajor productrevenue lines ubscription ubscription PI revenue revenue PI revenue Other Other Timing of revenue recognition Timing of revenue recognition oods transferred at a point in time oods transferred at a point in time 298,061 298,061 151,691 151,691 426,459 426,459 151,752 151,752 51,999 51,999 5,897 5,897 876,211 876,211 209,648 209,648 876,211 876,211 209,648 209,648 ubscription revenues include barter revenues realised in exchange for data information feeds. hese amounted to ubscription revenues include revenues2023 realised in exchange for da