Business
Trading Update and Notice of Half Year Results
Trading Update and Notice of Half Year Results.
About this update from Activeops Plc
[{"type":"text","content":"\n \n \n \n 25 October 2022\n \n \n \n \n ActiveOps plc\n \n \n \n (\"ActiveOps\" or the \"Company\")\n \n \n \n Trading Update\n \n \n \n \n and\n \n \n \n \n Notice of Half Year Results\n \n \n \n \n \n \n \n \n \n Sustained growth and positive profit trajectory\n \n \n \n \n \n \n \n \n ActiveOps plc (AIM:\n AOM\n ), a leading provider of Management Process Automation (MPA) software for running hybrid and global back-office operations, today provides an update on trading for the six months ended 30 September 2022.\n \n \n The Board is pleased to report continued growth in the first half of FY23, with the Group trading in line with its expectations and on target to turn run rate EBITDA positive at the end of this current financial year. The Company continues to expand its customer base and benefit from its high recurring revenues, strong gross margins and strong balance sheet.\n \n \n SaaS revenues in the period were up approximately 14%, driving a 12% growth in exit\n Annual Recurring Revenue (ARR) to £22.1m (September 2021: £19.8m), providing a strong basis for the full year expected performance. The Group expects to report overall revenue growth of approximately 7% (H1 2021: £11.5m), a\n nd a stronger than expected profit performance marginally above breakeven at the adjusted EBITDA level (H1 2021:\n loss (£0.2m)\n )\n , largely reflecting the positive impact of currency movements in the period.\n \n \n Cash and cash equivalents as at 30th September 2022 was £11.0m (Sept 2021: £10.9m)\n \n \n The first half saw the signing of new WorkiQ and ControliQ customers, alongside substantial expansion deals, across the ActiveOps product offering and territories, as the Group continues to execute its land & expand sales strategy. Meanwhile, the Group's third offering, CaseworkiQ, was successfully launched and has shown to be highly applicable across the existing customer base, contributing to the growth in ARR and creating further upsell opportunities.\n \n \n The Group has continued the development of its product suite, with a focus on the introduction of machine learning based capabilities, as ActiveOps seeks to provide its customers with increasingly dynamic and sophisticated tools that are able to help manage the growing complexity of the back-office.\n \n \n \n Notice of Results\n \n \n \n The Company intend...