Cisco Systems New Zealand has released its latest financial report detailing its finances for the year ending 31st July 2023. The report shows that Cisco Systems NZ's total revenue from continuing operations has increased from NZD $34.9 million in 2022 to NZD $40.6 million in 2023, an increase of roughly 16.3% year on year.
Profit before tax for the company surprisingly saw a decrease year-on-year, dropping from NZD $4.7 million in 2022 to NZD $4.6 million in 2023, down 2%.
The company's cash and cash equivalents as of 31st July 2023 saw a monumental increase year-over-year, increasing from NZD $1.48 million in 2022 to NZD $5.9 million in 2023, an incredible increase of 299%.
The report also showed that Cisco Systems NZ’s total assets grew from NZD $24.3 million in 2022 to NZD $26 million in 2023, an increase of 7.3% year-on-year.
Another area of interest in the report is that receipts from customers for Cisco Systems NZ grew from NZD $33.59 million in 2022 to NZD $56.59 million in 2023, an increase of 68.4% year on year.
Finally, the total comprehensive income saw a small 9.8% decrease from NZD $3.28 million in 2022 to just NZD $2.98 million in 2023.
The audit of Cisco Systems NZ was performed by the international audit firm PWC.
This news follows the recent announcement by Cisco, which has launched its Smart Agent for Cisco AppDynamics, a new application that simplifies application instrumentation for full-stack observability and allows customers to onboard new applications faster.
According to Cisco, the Smart Agent aims to reduce the need for manual intervention, increasing operational efficiency and software compliance.
The rapidly evolving nature of applications, which have become more distributed, modular, and scalable, has led to a rise in the number of agents' management complexity. As such, companies often use outdated versions, leaving them vulnerable to security risks. The Smart Agent will allow IT and operations teams to alleviate these problems, simplifying the process of installing and upgrading agents, and providing quick access to new capabilities with push-button upgrades, the company states.