Business
Replacement - Final Results
Replacement - Final Results.
About this update from Eagle Eye Solutions Group Plc
[{"type":"text","content":"\n\n \n26 September 2023\nThe following amendment has been made to the audited results for the financial year ended 30 June 2023 announcement released on 19 September 2023 under RNS Number 8340M.\n \nThe final results announcement incorrectly stated the operating expenses for the year ended 30 June 2023 as £41,581,000, when it should have stated £41,725,000. The full corrected announcement is set out in full below. All other information remains unchanged.\n \nEagle Eye Solutions Group plc\n(\"Eagle Eye\", the \"Group\", or the \"Company\")\n \nFinal results for the year ended 30 June 2023\nAn exceptional year of growth, delivering revenue and profits ahead of initial expectations\n \nEagle Eye, (LSE: \"EYE\"), a leading SaaS technology company that creates digital connections enabling personalised, real-time marketing, is pleased to announce its audited results for the financial year ended 30 June 2023 (the \"Year\").\n \nFinancial Highlights\n\n\n\n\n\n\n\nFY 2023\n\n\nFY 2022\n\n\n% change\n\n\n\n\nGroup Revenue\n\n\n£43.1m\n\n\n£31.7m\n\n\n+36% (29% organic)\n\n\n\n\nRecurring revenue (subscription fees and transactions)\n\n\n80%\n\n\n76%\n\n\n+4ppts\n\n\n\n\nAnnual Recurring Revenue1 (ARR)\n\n\n£33.3m\n\n\n£23.9m\n\n\n+40%\n\n\n\n\nNet Revenue Retention2\n\n\n137%\n\n\n145%\n\n\n-8ppts\n\n\n\n\nAdjusted EBITDA3\n\n\n£8.8m\n\n\n£6.5m\n\n\n+36%\n\n\n\n\nEBITDA margin\n\n\n20.4%\n\n\n20.5%\n\n\n-0.1ppts\n\n\n\n\nProfit after tax\n\n\n£1.2m\n\n\n£0.6m\n\n\n+114%\n\n\n\n\nClosing net cash4 position\n\n\n£9.3m\n\n\n£3.6m\n\n\n+156%\n\n\n\n\n \n1Period End Annual Recurring Revenue is defined as period exit rate for recurring AIR subscription and transaction revenue plus any professional services contracted for more than 12 months hence and secured new wins, excluding any seasonal variations and lost contracts.\n2Net retention rate is defined as the improvement in recurring AIR revenue excluding new wins in the last 12 months.\n3EBITDA has been adjusted for the exclusion of share-based payment charges along with depreciation, amortisation, interest and tax from the measure of profit. 2023 EBITDA figure has also been adjusted to exclude costs associated with the acquisition of Untie Nots.\n4Net cash is defined as cash and cash equivalents less financial liabilities.\n \nStrong financial pe...