Kinatico (ASX: KYP), a workforce compliance solutions provider, reported a substantial increase in software-as-a-service (SaaS) revenue, reaching $4 million for the quarter ending in March. This represents a 60% surge compared to the same period last year and accounts for nearly half of the company’s total quarterly revenue, which amounted to $8.1 million. This positive financial performance builds upon the momentum gained in the first six months of the year, during which Kinatico recorded consolidated revenue of $15.6 million and SaaS revenue of $6.5 million.
Chief Executive Officer Michael Ivanchenko expressed satisfaction with the company’s performance, highlighting the concurrent launch of their ComplianceX platform. Kinatico’s core offering centers around ‘know your people’ solutions, encompassing pre-employment screening, verification services, and comprehensive workforce compliance management. The company’s SaaS RegTech solution combines certifications and compliance data with business policy and legislative requirements, enabling scalable compliance monitoring across various industries. Kinatico also provides pre-employment checks through its CVCheck software, which is now a leading employment screening and verification product.
