many things going on in this company. from many MoUs, few converted to agreement, higher receivables without customer concentration due to diversified customer base, and quite a number of AI solutions at the application layers targeting SMEs in Malaysia (banks and different industries). If the company is successful, the numbers will be reflected accordingly.

For those wondering what the agreement with SNS meant - Agmo Studio shall be responsible for the following: (i) provision of Artificial Intelligence (AI)-related software stack, including AI model deployment frameworks, Application Programming Interface (API) integration layers and application management services; (ii) application deployment and management on the GPU infrastructure provided by SNS Network, inclusive of full administrative (root) control over the operating system and software stack; and (iii) provision of technical support and integration services to end customers in relation to the Services. Agmo Studio is granted a non-exclusive right to market, distribute and resell the GPU infrastructure services to end customers. SNS Network shall remain the infrastructure provider of record for all Services delivered under the Agreement.

Agmo is currently the only company in main board software sector to offer AI products/solutions at the application layer and recently added the infrastructure/compute layer. Worth watching as regional software companies seeing higher demand/reported stronger earnings and outlook.

spot on, sheldon. the uptake on AI solutions is still at the infant stage for SMEs/banks/industry in Malaysia. Huge potential for Agmo. Btw, Agmo is also Malaysia’s largest homegrown Claude AI team, backed by a team of Claude Certified Architects. AgmoClaude helps Malaysian organisations adopt, run, and scale Claude AI with local support, local billing, and architecture you can trust.

while recurring revenue is consistent, the PAT collapsed at much faster rate, lau. hammered by amortisation cost (370k) plus higher tax rate (from below 20% to almost 30%). it is still debt free. this amortisation cost (non-cash) is something that needs to be monitored as it will continue to drag the PAT lower

i am keeping this in the watchlist for now until growth sign appears (yoy revenue > 10%). which means a min of 10.5mil qtrly revenue. q3fy25 and q4fy25 crossed the 10mil mark. q1fy26 revenue fell below and back to normal range.