Cumulative result. Across the 10 months Jul 2025 – Apr 2026, Smarte's net result is −$166,166. Profitable months: 3 of 10 (Aug 25 +$21K, Oct 25 +$1.8K, Feb 26 +$46K). The MSP contract book itself runs at 60–64% gross margin — the loss is showing up in months where revenue dips below the fixed cost base (wages ~$40–66K + super + rent + IT).
Monthly revenue & net profit
10-month trend
Cumulative net profit
Running total — where Smarte sits each month
Revenue mix by month
Trading income by source
P&L summary — FY26 to date
| Line item | FY26 total (10 mo) | Avg / month |
|---|
Why this matters. The P&L above swings wildly month-to-month because project work (AxxS Development, Hardware, Install) is lumpy. Underneath that, the MSP / IT Services recurring base is steady and growing — +30% Jul→Apr. Splitting the two reframes "are we OK" from a yes/no panic to a "the foundation is healthy, project revenue needs to be more predictable" story.
MRR vs Project revenue — monthly
Recurring (IT Services + Recurring old) vs Project (AxxS Dev, Hardware, Install, StorAxxS, other)
MRR growth trajectory
Recurring revenue trend with 3-month moving avg
AR concentration risk. Total accounts receivable as at 30 Apr 2026 is $114,903, of which $97,977 (85%) is owed by AxxS Tech Pty Ltd alone. 99.6% of AR is overdue (only $436 sits in "Current"); $59,160 (51%) is more than 90 days late. Rough DSO is ~50 days. If AxxS Tech delays further, this becomes a working-capital problem before it becomes a profitability one.
AR by aging bucket
As at 30 April 2026 · oldest →
Top debtors
Top 10 outstanding balances
Aged receivables — full list
As at 30 April 2026. "Current" = within terms; older = days past due.
| Contact | Current | 1-30 d | 31-60 d | 61-90 d | 90+ d | Total |
|---|