Business
Half-year Report
Half-year Report.
About this update from Pci-pal Plc
[{"type":"text","content":"\n \n \n RNS Number : 9099E\n PCI-PAL PLC\n 04 March 2020\n \n \n \n \n \n \n \n This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 (\"MAR\"). Upon the publication of this announcement, the inside information is now considered to be in the public domain for the purposes of MAR.\n \n \n \n \n \n \n \n \n \n PCI-PAL PLC\n \n \n (\"PCI Pal\" or \"the Group\" or \"the Company\")\n \n \n \n \n \n Interim Results for the Six Months Ended 31 December 2019\n \n \n PCI-PAL PLC (AIM: PCIP), the global provider of secure payment solutions, is pleased to announce its unaudited interim results for the six months to 31 December 2019.\n \n \n Financial Highlights for the Period\n \n \n · \n Revenue increased 74% year on year to £2.0 million (2018: £1.2 million)\n \n \n · \n Gross margin improved to 67% (2018: 51%)\n \n \n · \n Recurring revenues represent 85% of total revenue (2018: 84%)\n \n \n · \n New contract annual recurring licence sales (\"ACV\") of £1.2 million (2018: £1.3 million) \n \n \n · \n TACV1 now stands at £5.2 million (2018: £3.4 million) reflecting a 53% increase year on year\n \n \n · \n Loss from operating activities of £2.3 million (2018: £2.5 million) \n \n \n · \n Cash of £1.5 million (30 June 2019: £1.5 million) and net debt of £0.02 million (30 June 2019: net cash £1.5 million)\n \n \n · \n Deferred revenue of £4.0 million (2018: £2.3 million) at period end\n \n \n \n 1 \n \n TACV is the total annual recurring revenue of all signed contracts, whether invoiced and included in deferred revenue or s\n till\n to be deployed and/or not yet invoiced\n \n \n Strategic Highlights in period\n \n \n · \n Recurring revenue model proven with record revenue growth year on year\n \n \n · \n Stand-out six months for the North American business signing 49% more ACV than the entire previous financial year in the region\n \n \n · \n Signed Group's second largest contract in the U.S. with ACV of $566,000 (approximately £434,000)\n \n \n · \n 82% of new sales contracts for the Group generated from channel partners (2018: 75%)\n \n \n · \n Customers live across all six global regional instances of our platform across EMEA, North America, and ANZ\n \n \n · \n Won Partner of the Year for EMEA with Genesys AppFoundry\n \n \n · \n New technology partne...