Business
Q3 Trading Update
Q3 Trading Update.
About this update from Alfa Financial Software Holdings Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 7101R\n Alfa Financial Software Hldgs PLC\n 09 November 2021\n \n \n \n 9 November 2021\n Alfa Financial Software Holdings PLC\n Scheduled Q3 trading update\n Momentum in the business continues\n \n Alfa Financial Software Holdings PLC (\"Alfa\" or the \"Company\"), a leading developer of mission-critical software for the asset finance industry provides a scheduled update on trading.\n \n \n Revenue and Cash\n Revenue in the third quarter was strong at £20m, significantly ahead of £16m for the same period last year with high levels of chargeability which has continued through October. Our net cash generation has remained strong.\n \n \n Delivery\n Delivery performance has remained excellent. We had delivered fifteen successful go-lives of Alfa Systems at the time of the half year results in September. This has now increased to twenty three, the most significant of which was a new implementation go-live for a large US automotive client with the successful migration of well over 1 million contracts.\n \n \n Pipeline and TCV\n At the time of our half-year results on 22 September 2021 we had seven prospects in our late stage pipeline. We are continuing to make progress on converting prospects into signed contracts and in addition have added a large prospect in Europe so the late stage pipeline currently sits at eight prospects.\n We have had two wins so far in H2, which were announced at the time of the half year results in September. These, along with the signing of additional statements of work, net of work performed has resulted in our TCV (\"Total Contracted Value\") increasing from £125m at 30 June 2021 to £128m at 30 September 2021.\n \n \n Outlook\n Overall, given the strength of the revenue performance in Q3 and the chargeability through October, we now expect to exceed our revenue estimates for 2021 by a further circa 3%.\n \n \n Andrew Denton, Chief Executive Officer of Alfa said:\n \"This has been an outstanding quarter in what has been an outstanding year for Alfa. We are delighted to see continued good progress across all areas of the business. Already this year more new customers have started using Alfa Systems in more geographies than any year in our history. We have continued to develop the Alfa Systems ...